REG - GreenX Metals Ltd - Samples from ARC Confirm up to 99.8% Native Copper
11/08/2022 07:00
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RNS Number : 6505V GreenX Metals Limited 11 August 2022
GreenX Metals Limited
NEWS RELEASE 11 August 2022
LABORATORY ANALYSIS OF HISTORICAL SAMPLES FROM ARC CONFIRMS UP TO 99.8% PURE
NATIVE COPPER
· Laboratory XRF analysis of native copper samples from the ARC
Project in Greenland show high purity consistently over 99% copper
· Analysis also confirmed the presence of silver in one sample,
and no significant deleterious elements in any of the three analysed
historical samples
· Three native copper samples were collected in an area spanning 30km
from the Discovery Zone, Neergaard Dal, and Neergaard South prospects within
ARC
· Current field work program now underway, with results to be released
as they develop over the coming months
GreenX Metals Limited (GreenX or Company) and its joint-venture (JV) partner
Greenfields Exploration Ltd (Greenfields) are pleased to announce the results
of preliminary analysis on three historical samples of native copper nodules
from the ARC Project (ARC or the Project) in Greenland. The samples were
obtained from a recently opened government geological storage facility in
Copenhagen. Three native copper samples found at Discovery Zone, Neergaard
Dal, and Neergaard South within ARC were subject to advanced micro-XRF
scanning, a more precise and comprehensive technology when compared to more
common portable XRFs. The best analysis result was for a sample found
immediately south of the Discovery Zone, which indicated median copper purity
of 99.8%, with 255 g/t silver, 0.004% antimony and 0.000% arsenic. The samples
from Neergard Dal and Neergard South indicated copper purity of 99.7% and
99.4% respectively, with low to no deleterious elements detected in any of the
samples. The high quality of the analysed samples is comparable to blister
copper, a product typically produced by smelting prior to being sent to a
refinery.
Dr Jon Bell, Greenfields' Technical Director commented: "We were confident
that the native copper would be rich with low levels of deleterious elements,
but we didn't expect the results to be so spectacular. The non-destructive
nature of this methodology means that we can start collecting metallurgical as
well as grade information from early in the exploration cycle."
BACKROUND
In June 2022, the JV was granted access to recently constructed government
geological storage facilities in Copenhagen, Denmark. These facilities store
multiple historical samples from the ARC Project, largely collected in 1978
and 1979, from an area spanning 30km from the Discovery Zone, Neergaard Dal,
and Neergaard South prospects.
Three samples of native copper i.e., near-pure copper metal found in nature,
were identified:
· native copper from immediately south of the Discovery Zone
prospect,
· fissure copper from the central Neergaard Dal prospect, and
· native copper from Neergaard South prospect.
Notably, the existence of the samples from the Neergaard Dal and Neergaard
South prospects was not previously known in the historical data set.
Similarities to Keweenaw Peninsula
The ARC native coppers are of particular interest to the Company, given the
potential for them to be geologically analogous to the Keweenaw Peninsula
(Michigan, USA). The native copper at Keweenaw was extremely enriched,
almost pure, with very little in the way of deleterious elements. Due to the
high purity of the historical samples recovered, the Company considers these
results to be reminiscent of the Keweenaw mineralisation, and it looks forward
to future exploration results to substantiate this indication.
The main by-product element found with the Keweenaw copper was silver, an
element that is also recorded in the historical assays from ARC, and the
currently analysed Discovery Zone sample containing 255g/t Ag. Notably, the
records of the silver at Keweenaw are incomplete as it is reported that much
of it was misappropriated by the miners, giving testament to the silver size
and quality. The historical mining companies at Keweenaw were instead focussed
on the almost pure native copper, that in some cases weighed hundreds of
kilograms. These extreme native copper occurrences were hosted in 'fissures'
(faults). Significantly, the native copper sample from Neergaard Dal is
hosted within a fault, giving the potential for similarly intense
mineralisation.
Results of Micro-XRF Analysis
ARC's mineralisation is thought to be the product of multiple mineralisation
events, an early native-copper event and a later copper sulphide event.
Understanding the quality of the native copper was the prudent focus of this
preliminary analysis. The native copper sample from the Discovery Zone was
partially polished and sent to an independent university facility, with the
other two samples being sent to a consulting firm for micro-XRF analysis.
This advanced technology was used to perform scans within which more focussed
point analyses were performed. Like the well-known portable XRF units,
micro-XRF units use X-ray fluorescence to analyse the elemental composition of
a sample. However, micro-XRF is an order of magnitude more precise than
portable XRF and it can also perform scans over much larger areas - giving it
a significant advantage in both precision and scale. Micro-XRF is sensitive
enough to analyse down 0.025mm, whereas the more portable XRF units are
limited to no better than 3.0mm, some 120 times coarser. The result of the
scanning is that highly precise elemental maps can be generated. As a
cross-check, a copper alloy-calibrated handheld portable XRF unit was used to
perform spot checks. This specially calibrated united produced similar
results to the high powered micro-XRF units.
This non-destructive technology can give elemental, as well as mineralogical
information. To determine the purity of the native copper, only elemental
analysis is necessary. The statistics of the scans are shown in Tables 1 to
3. This information is useful for guiding future, more quantitative work
programs focussed on the native copper quality that may include assaying.
Additional statistical tables are contained in the Appendices A to C.
FUTURE WORK
The results of the micro-XRF analysis are supportive of the potential quality
of the mineralisation at the ARC project and will inform the current field
program. The current field program incorporates geochemical sampling, portable
core drilling, and geophysics at high-priority targets within ARC. The
Discovery Zone, where the highest-purity analysed sample was recovered, is the
highest priority exploration target. GreenX expects it will be in the position
to release substantial further news flow in relation to this project across
the coming months.
ABOUT THE ARCTIC RIFT COPPER PROJECT
ARC is an exploration joint venture between GreenX and Greenfields. GreenX
can earn 80% of ARC by spending A$10 M by October 2026. The ARC Project is
targeting large scale copper in multiple settings across a 5,774 km(2) Special
Exploration Licence in eastern North Greenland. The area has been historically
underexplored yet is prospective for copper, forming part of the newly
identified Kiffaanngissuseq metallogenic province. This province is thought
to be analogous to the Keweenaw Peninsula of Michigan, USA, which contained a
pre-mining endowment of +7 Mt of copper contained in sulphides and 8.9 Mt of
native copper. Like Keweenaw, ARC is known to contain at surface, high-grade
copper sulphides, 'fissure' native copper, and native copper contained in what
were formerly gas bubbles and layers between lava flows.
Table 1: Elemental Statistics of the Scanned Native Copper from the Discovery
Zone
Elements Cu Ag Zn As Sb S Cr Mn Fe
Units % g/t % % % % % % %
Median 99.83 255 0.01 0.0000 0.0036 0.01 0.02 0.00 0.03
Average (arithmetic) 99.78 319 0.01 0.0058 0.0121 0.01 0.09 0.01 0.04
Max 99.93 1,397 0.15 0.0492 0.0817 0.05 0.69 0.14 0.17
Min 99.2 - 0.01 0.0000 0.0000 0.00 0.01 0.00 0.01
Standard deviation 0.15 302 0.02 0.0115 0.0166 0.01 0.16 0.02 0.02
Skew -2.19 1 8.21 2.40 1.74 1.20 2.75 5.57 4.20
Kurtosis 4.36 2 68.34 5.13 3.48 0.70 6.73 35.62 26.14
This table present the partial suite of the elemental responses with reduced
interpretational filtering. It may be that some of the spectral responses are
artificial artefacts. For the silver, arsenic and antimony, the Company
considers the responses to be realistic given what is known about the style of
mineralisation, and the historical assay data.
Table 2: Elemental Statistics of the Scanned Native Copper from Neergaard Dal
Elements Cu Al Si S
Units % % % %
Median 99.69 0.20 0.10 0.01
Average (arithmetic) 99.61 0.33 0.95 0.03
Max 99.74 0.33 0.95 0.03
Min 98.69 0.18 0.06 0.00
Standard deviation 0.24 0.03 0.22 0.01
Skew -3.14 3.36 3.06 0.89
Kurtosis 9.74 14.02 8.9 -0.47
This table presents a filtered suite of the relevant elemental responses based
on the consultant's judgment that focussed on the most certain spectral
responses.
Table 3: Elemental Statistics of the Scanned Native Copper from Neergaard
South
Elements Cu Al Si S
Units % % % %
Median 99.40 0.23 0.34 0.02
Average (arithmetic) 99.40 0.23 0.34 0.02
Max 99.59 0.32 0.51 0.05
Min 99.13 0.19 0.19 0.01
Standard deviation 0.15 0.04 0.11 0.01
Skew -0.32 1.25 0.09 1.91
Kurtosis 1.2 -1.27 4.00 2.16
This table presents a filtered suite of the relevant elemental responses based
on the consultant's judgment that focussed on the most certain spectral
responses.
Forward Looking Statement
This release may include forward-looking statements, which may be identified
by words such as "expects", "anticipates", "believes", "projects", "plans",
and similar expressions. These forward-looking statements are based on
GreenX's expectations and beliefs concerning future events. Forward looking
statements are necessarily subject to risks, uncertainties and other factors,
many of which are outside the control of GreenX, which could cause actual
results to differ materially from such statements. There can be no assurance
that forward-looking statements will prove to be correct. GreenX makes no
undertaking to subsequently update or revise the forward-looking statements
made in this release, to reflect the circumstances or events after the date of
that release.
Competent Persons Statement
Information in this announcement that relates to Exploration Results is based
on information compiled by Dr Jonathan Bell, a Competent Person who is a
member of the Australian Institute of Geoscientists. Dr Bell is the Executive
Director (Technical) of Greenfields Exploration Limited and holds an indirect
interest in performance rights in GreenX. Dr Bell has sufficient experience
relevant to the style of mineralisation and type of deposit under
consideration and the activity being undertaken, to qualify as a Competent
Person as defined in the 2012 Edition of the 'Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves'. Dr Bell
consents to the inclusion in this announcement of the matters based on his
information in the form and context in which it appears.
To view this announcement in full, including all illustrations and figures,
please refer to www.greenxmetals.com (http://www.greenxmetals.com) .
APPENDIX A: MICRO XRF ELEMENTAL CONCENTRATIONS from the DIscovery Zone Sample
Bruker Nano GmbH, Germany
M4 Tornado
6/9/2022
Quantification results
Mass percent (%)
Date:
Spectrum 0.02
Cu Ag Co Ni Au Zn As Sb S Cr Mn Fe
Median 99.83% 255 0.01% 0.00% - 0.01% 0.0000% 0.0036% 0.01% 0.02% 0.00% 0.03%
Average (arithmetic) 99.78% 319 0.01% 0.00% 31 0.01% 0.0058% 0.0121% 0.01% 0.09% 0.01% 0.04%
Max 99.93% 1,397 0.03% 0.03% 575 0.15% 0.0492% 0.0817% 0.05% 0.69% 0.14% 0.17%
Min 99.25% - 0.01% 0.00% - 0.01% 0.0000% 0.0000% 0.00% 0.01% 0.00% 0.01%
SD 0.15% 302 0.00% 0.00% 90 0.02% 0.0115% 0.0166% 0.01% 0.16% 0.02% 0.02%
Skew - 2.19 1 3.52 7.01 4 8.21 2.40 1.74 1.20 2.75 5.57 4.20
Kurtosis 4.36 2 21.12 51.43 21 68.34 5.13 3.48 0.70 6.73 35.62 26.14
Zn_and_normal_areas 82 99.48053 0 0.010484 0 0 0.009948 0.001521198 0 0.001635 0.44602 0 0.049864
Zn_and_normal_areas 81 99.71564 0.06331587 0.008421 0 0 0.009972 0 0.0063919 0.035094 0.085398 0.055051 0.020712
Zn_and_normal_areas 80 99.52458 0.12359591 0.009276 0 0.000284 0.009952 0 0.0304267 0.008835 0.138741 0.143506 0.010806
Zn_and_normal_areas 79 99.25101 0 0.009219 0 0 0.009925 0.007330727 0.0470599 0.016861 0.618008 0 0.040588
Zn_and_normal_areas 78 99.90128 3.6213E-05 0.00896 0 0 0.00999 0 0.0341853 0.011119 0.010896 0 0.023538
Zn_and_normal_areas 77 99.45732 0.01775047 0.00948 0 0 0.009946 0.000337071 0 0.011012 0.462366 0 0.031793
Zn_and_normal_areas 76 99.67852 0.09225785 0.013582 0 0.005091 0.009968 0 0 0.02642 0.073547 0.058492 0.042123
Zn_and_normal_areas 75 99.84204 0 0.015345 0 0.009336 0.009984 0 0 0.022632 0.028685 0.03023 0.041752
Zn_and_normal_areas 74 99.8431 0.00783151 0.009072 0 0 0.009984 0.038761831 0.0046371 0.044728 0.01695 0 0.024935
Zn_and_normal_areas 73 99.84692 0.04218033 0.010165 0 0 0.009985 0 0.0188927 0.03124 0.01062 0.000691 0.029303
Zn_and_normal_areas 72 99.90603 0.01571432 0.009837 0 0 0.009991 0 0.0094404 0.016629 0.009923 0 0.022434
Zn_and_normal_areas 71 99.75626 0.02985474 0.008658 0 0 0.009976 0 0.0226209 0.004268 0.127337 0 0.041027
Zn_and_normal_areas 70 99.8015 0.0353914 0.010177 0 0.002915 0.00998 0 0.0150694 0.03899 0.026203 0.007096 0.052681
Zn_and_normal_areas 69 99.8619 0.01669255 0.013167 0 0 0.009986 0.000378565 0 0.032389 0.019832 0.004846 0.040807
Zn_and_normal_areas 68 99.88677 0.02307305 0.011092 0 0 0.009989 0 0.0140025 0.022408 0.00834 0 0.024321
Zn_and_normal_areas 67 99.82003 0.06318373 0.012787 0 0 0.009982 0 0 0.020148 0.030262 0.010989 0.032615
Zn_and_normal_areas 66 99.76601 0.02251341 0.012644 0 0.027953 0.009977 0.006123192 0 0.03616 0.04323 0 0.075391
Zn_and_normal_areas 65 99.81774 0.06307957 0.01136 0 0 0.009982 0.013961435 0.00337 0.003299 0.010652 0.001138 0.065421
Zn_and_normal_areas 64 99.78699 0.08436548 0.009984 0 0.006395 0.009979 0 0 0.014478 0.030448 0.012993 0.044365
Zn_and_normal_areas 63 99.83924 0.0156951 0.011816 0 0 0.009984 0.02312325 0 0.037036 0.018172 0.00783 0.037103
Zn_and_normal_areas 62 99.84961 0.03200754 0.014082 0 0 0.009985 0 0.0092223 0.026827 0.013835 0.005396 0.039034
Zn_and_normal_areas 61 99.82637 0.030533 0.011156 0 0.000194 0.009983 0.005037741 0 0.034211 0.021924 0 0.060587
Zn_and_normal_areas 60 99.74062 0.02390928 0.008227 0 0.057468 0.009974 0.001289064 0.0511308 0.020326 0.035409 0 0.051646
Zn_and_normal_areas 59 99.83234 0.06254426 0.011053 0 0 0.009983 0.000338353 0 0.011131 0.015718 0.001633 0.05526
Zn_and_normal_areas 58 99.86079 0.01900527 0.010048 0 0.003785 0.009986 0 0.019093 0.000874 0.028078 0.006088 0.042249
Zn_and_normal_areas 57 99.85288 0.02023063 0.013415 0 0 0.009985 0 0 0.053415 0.008679 0.000227 0.041169
Zn_and_normal_areas 56 99.8271 0.04184688 0.014881 0 0 0.009983 0 0.006414 0.033573 0.015562 0.007759 0.042877
Zn_and_normal_areas 55 99.87162 0 0.010795 0 0.012857 0.009987 0.000398998 0 0.030385 0.020978 0 0.042983
Zn_and_normal_areas 54 99.85592 0 0.010995 0 0.00962 0.009986 0 0.035722 0.015101 0.02058 0 0.042077
Zn_and_normal_areas 53 99.7324 0.10096725 0.008895 0 0.007784 0.009973 0 0.0254151 0.014375 0.036228 0.020755 0.043208
Zn_and_normal_areas 52 99.86848 0.025461 0.010428 0 0 0.009987 0.023395734 0 0.001085 0.013272 0.002092 0.045796
Zn_and_normal_areas 51 99.87737 0.04634072 0.014392 0 0 0.009988 0.003344793 0 0 0.009408 0.000934 0.038219
Zn_and_normal_areas 50 99.88344 0.02850463 0.013358 0 0 0.009988 0 0 0.024008 0.010313 0.000669 0.029716
Zn_and_normal_areas 49 99.87994 0.03075256 0.013375 0 0 0.009988 0 0.0059852 0.012563 0.016549 0 0.03085
Zn_and_normal_areas 48 99.81195 0.05604722 0.013055 0 0.016996 0.009981 0 0.0125456 0.008564 0.025869 0 0.044987
Zn_and_normal_areas 47 99.89405 0.01605605 0.009142 0 0 0.009989 0.029504771 0 0 0.009565 0 0.031696
Zn_and_normal_areas 46 99.78677 0.01618082 0.012265 0 0 0.009979 0.049239073 0.0817482 0.00452 0.009064 0 0.030234
Zn_and_normal_areas 45 99.87124 0.03775575 0.012736 0 0 0.009987 0.008592669 0 0.004497 0.013733 0.00127 0.040185
Zn_and_normal_areas 44 99.86086 0.0264772 0.015158 0 0 0.009986 0 0.0217187 0.003496 0.024725 0.003606 0.033971
Zn_and_normal_areas 43 99.76525 0.01645323 0.01558 0 0 0.009977 0 0.0035768 0.012742 0.138397 0.001232 0.036791
Zn_and_normal_areas 42 99.90559 0 0.013961 0 0 0.009991 0.005803438 0.0033254 0.003414 0.024058 0 0.033859
Zn_and_normal_areas 41 99.91932 0 0.007057 0 0 0.009992 0.001537063 0 0.006565 0.009309 0 0.046222
Zn_and_normal_areas 40 99.84409 0.06083985 0.00731 0 0 0.009984 0.00064345 0.0363117 0.003111 0.011066 0 0.026647
Zn_and_normal_areas 39 99.87593 0.03868358 0.010721 0 0 0.009988 0.006752162 0.0019693 0.001308 0.013344 0 0.04131
Zn_and_normal_areas 38 99.87124 0.00402956 0.014962 0 0 0.009987 0.030004727 0.028366 0.000957 0.014245 0 0.026204
Zn_and_normal_areas 37 99.8392 0.03360156 0.014857 0 0 0.009984 0 0 0.014526 0.044884 0.002347 0.0406
Zn_and_normal_areas 36 99.81678 0.07913394 0.011308 0 0.001985 0.009982 0.004332156 0 0.008964 0.026129 0 0.04139
Zn_and_normal_areas 35 99.8946 0.02586648 0.008164 0 0 0.009989 0.004161093 0 0.008346 0.010318 0 0.038559
Zn_and_normal_areas 34 99.85317 0.02853613 0.009119 0 0 0.028974 0 0.0239332 0.002602 0.009297 0 0.044373
Zn_and_normal_areas 33 99.93285 0 0.010464 0 0 0.009993 0 0 0.003624 0.01337 0 0.029694
Zn_and_normal_areas 32 99.88793 0.00877244 0.012976 0 0 0.009989 0.019661017 0.0043742 0.005394 0.021752 0 0.029154
Zn_and_normal_areas 31 99.80386 0.01620226 0.012345 0 0.016344 0.00998 0.010740191 0.0540501 0.009964 0.032916 0 0.033595
Zn_and_normal_areas 30 99.66744 0.06617634 0.012454 0 0.036268 0.009967 0 0 0.01351 0.028296 0 0.165888
Zn_and_normal_areas 29 99.87499 0 0.01452 0 0 0.009987 0.03840998 0.0182549 0.004655 0.011028 0 0.028156
Zn_and_normal_areas 28 99.80579 0 0.013234 0 0 0.149768 0.000162021 0.0010699 0.000884 0.010086 0 0.019003
Zn_and_normal_areas 27 99.88963 0 0.014224 0 0 0.009989 0.046067139 0.0012819 0.000302 0.013108 0 0.025401
Zn_and_normal_areas 26 99.89194 0.02209734 0.011488 0 0 0.009989 0.000993312 0.0058203 0.002896 0.02574 0 0.029032
Zn_and_normal_areas 25 99.82937 0.03733356 0.008376 0 0 0.009983 0.002349026 0.0317478 0.009663 0.036347 0 0.034836
Zn_and_normal_areas 24 99.84828 0 0.032538 0 0 0.009985 0 0 0.011661 0.033168 0 0.064368
Ni_rich_area 22 99.82824 0.05931445 0.008657 0 0 0.009983 0.000943875 0.0221122 0.008672 0.024681 0.000971 0.036425
Ni_rich_area 21 99.88652 0.04176941 0.010882 0 0 0.009989 0 0.0069708 0.000809 0.01604 0.000777 0.026246
Ni_rich_area 20 99.73259 0.072822 0.009466 0 0 0.009973 0 0.0351901 0 0.112203 0 0.027752
Ni_rich_area 19 99.77885 0.0404977 0.010008 0 0 0.009978 0 0 0.000882 0.133512 0 0.026268
Ni_rich_area 18 99.76725 0.05979761 0.008882 0 0 0.009977 0 0.020374 6.78E-05 0.108896 0 0.024753
Ni_rich_area 17 99.81571 0.01451649 0.007213 0 0.004552 0.009982 0 0.0207233 0.002822 0.094087 0.001534 0.028857
Ni_rich_area 16 99.53289 0.1396942 0.009442 0 0 0.009953 0 0.0239929 0.004307 0.250783 0 0.028937
Ni_rich_area 15 99.68706 0.02433213 0.01075 0 0 0.009969 0 0.0407525 0.007317 0.193532 0 0.026291
Ni_rich_area 14 99.77227 0 0.009695 0 0 0.009977 0 0 0.005771 0.162012 0.023295 0.016982
Ni_rich_area 13 99.35286 0.0025755 0.011904 0.013061 0 0.009935 0.009626373 0 0 0.584031 0 0.016005
Ni_rich_area 12 99.25542 0 0.012297 0.00032 0 0.009926 0.014840959 0 0.001214 0.689209 0 0.016779
Ni_rich_area 11 99.29155 0.03738731 0.012257 0.030765 0 0.009929 0.001444255 0 0.004862 0.586412 0 0.025391
APPENDIX A: ELMENTAL CORRELATIONS for the Discovery Zone SAMPLE
R Cu Ag Co Ni Au Zn As Sb S Cr Mn Fe
Cu 1.00 - 0.14 0.11 - 0.49 - 0.04 0.03 0.08 - 0.09 0.11 - 0.94 - 0.20 0.05
Ag 1.00 - 0.22 - 0.03 0.04 - 0.13 - 0.30 0.07 0.00 - 0.09 0.45 0.12
Co 1.00 0.03 - 0.06 0.05 0.08 - 0.25 0.07 - 0.09 - 0.07 0.18
Ni 1.00 - 0.05 - 0.02 - 0.03 - 0.12 - 0.12 0.51 - 0.05 - 0.12
Au 1.00 - 0.05 - 0.11 0.20 0.18 - 0.11 - 0.03 0.55
Zn 1.00 - 0.07 - 0.07 - 0.12 - 0.07 - 0.04 - 0.11
As 1.00 0.16 - 0.10 - 0.06 - 0.13 - 0.13
Sb 1.00 - 0.15 - 0.01 0.03 - 0.16
S 1.00 - 0.20 0.13 0.18
Cr 1.00 0.01 - 0.19
Mn 1.00 - 0.17
Fe 1.00
R(2) Cu Ag Co Ni Au Zn As Sb S Cr Mn Fe
Cu 1.00 0.02 0.01 0.24 0.00 0.00 0.01 0.01 0.01 0.89 0.04 0.00
Ag 1.00 0.05 0.00 0.00 0.02 0.09 0.00 0.00 0.01 0.21 0.01
Co 1.00 0.00 0.00 0.00 0.01 0.06 0.00 0.01 0.00 0.03
Ni 1.00 0.00 0.00 0.00 0.01 0.01 0.26 0.00 0.02
Au 1.00 0.00 0.01 0.04 0.03 0.01 0.00 0.30
Zn 1.00 0.00 0.00 0.02 0.00 0.00 0.01
As 1.00 0.02 0.01 0.00 0.02 0.02
Sb 1.00 0.02 0.00 0.00 0.03
S 1.00 0.04 0.02 0.03
Cr 1.00 0.00 0.03
Mn 1.00 0.03
Fe 1.00
R(2) Cu Ag Co Ni Au Zn As Sb S Cr Mn Fe
Cu 1.00 0.02 0.01 0.24 0.00 0.00 0.01 0.01 0.01 0.89 0.04 0.00
Ag 1.00 0.05 0.00 0.00 0.02 0.09 0.00 0.00 0.01 0.21 0.01
Co 1.00 0.00 0.00 0.00 0.01 0.06 0.00 0.01 0.00 0.03
Ni 1.00 0.00 0.00 0.00 0.01 0.01 0.26 0.00 0.02
Au 1.00 0.00 0.01 0.04 0.03 0.01 0.00 0.30
Zn 1.00 0.00 0.00 0.02 0.00 0.00 0.01
As 1.00 0.02 0.01 0.00 0.02 0.02
Sb 1.00 0.02 0.00 0.00 0.03
S 1.00 0.04 0.02 0.03
Cr 1.00 0.00 0.03
Mn 1.00 0.03
Fe 1.00
The elemental correlations are from the Discovery Zone native copper sample.
The full suite of results was not provided by the consultant for the Neergaard
Dal or Neergaard South samples.
APPENDIX B: MICRO XRF ELEMENTAL CONCENTRATIONS from the Neergaard Dal FIssure
copper sample #233852
Bruker Nano GmbH, Germany
M4 Tornado
Quantification results
Mass percent (%)
Date: 2/08/2022
Spectrum Cu Al Si S Ti Rh
Median 99.69 0.20 0.10 0.01 0.00
Average (arithmetic) 99.61 0.21 0.17 0.01 0.00 0.00
Max 99.74 0.33 0.95 0.03 0.00
Min 98.69 0.18 0.06 0.00 0.00
SD 0.24 0.03 0.22 0.01 0.00
Skew -3.14 3.36 3.06 0.89 4.46
Kurtosis 9.74 14.02 8.90 -0.47 21.26
233852-25.spx 99.67 0.19 0.11 0.03 0.00 0.00
233852-24.spx 99.64 0.22 0.11 0.03 0.00 0.00
233852-23.spx 99.68 0.20 0.10 0.02 0.00 0.00
233852-22.spx 99.69 0.20 0.10 0.01 0.00 0.00
233852-21.spx 99.71 0.21 0.08 0.01 0.00 0.00
233852-20.spx 99.48 0.23 0.28 0.00 0.00 0.00
233852-19.spx 98.69 0.33 0.95 0.03 0.00 0.00
233852-18.spx 99.62 0.22 0.15 0.02 0.00 0.00
233852-17.spx 98.98 0.23 0.77 0.01 0.00 0.00
233852-16.spx 99.70 0.18 0.10 0.02 0.00 0.00
233852-15.spx 99.71 0.20 0.07 0.03 0.00 0.00
233852-14.spx 99.68 0.20 0.11 0.01 0.00 0.00
233852-13.spx 99.70 0.20 0.08 0.01 0.00 0.00
233852-12.spx 99.74 0.19 0.06 0.01 0.00 0.00
233852-11.spx 99.74 0.20 0.06 0.01 0.00 0.00
233852-10.spx 99.72 0.21 0.07 0.01 0.00 0.00
233852-09.spx 99.73 0.18 0.08 0.01 0.00 0.00
233852-08.spx 99.70 0.21 0.07 0.01 0.00 0.00
233852-07.spx 99.74 0.18 0.06 0.01 0.00 0.00
233852-06.spx 99.63 0.20 0.15 0.02 0.00 0.00
233852-05.spx 99.72 0.18 0.08 0.01 0.00 0.00
233852-04.spx 99.54 0.21 0.24 0.01 0.00 0.00
233852-03.spx 99.69 0.21 0.09 0.01 0.00 0.00
233852-02.spx 99.70 0.20 0.09 0.01 0.00 0.00
233852-01.spx 99.66 0.21 0.13 0.01 0.00 0.00
APPENDIX C: MICRO XRF ELEMENTAL CONCENTRATIONS from the Neergaard SOUTH copper
sample #233852
Bruker Nano GmbH, Germany
M4 Tornado
Quantification results
Mass percent (%)
Date: 2/08/2022
Spectrum Cu Al Si S Ti Rh
Median 99.40 0.23 0.34 0.02 0.00 0.00
Average (arithmetic) 99.59 0.32 0.51 0.05 0.00 0.00
Max 99.13 0.19 0.19 0.01 0.00 0.00
Min 0.15 0.04 0.11 0.01 0.00 0.00
SD -0.32 1.25 0.09 1.91 1.27 1.27
Skew -0.89 1.20 -1.27 4.00 2.16 2.16
233950-13 99.40 0.21 0.37 0.02 0.00 0.00
233950-12 99.39 0.23 0.36 0.02 0.00 0.00
233950-11 99.44 0.24 0.31 0.02 0.00 0.00
233950-10 99.57 0.19 0.21 0.02 0.00 0.00
233950-09 99.53 0.21 0.24 0.02 0.00 0.00
233950-08 99.46 0.20 0.33 0.02 0.00 0.00
233950-07 99.23 0.24 0.51 0.02 0.00 0.00
233950-06 99.29 0.23 0.45 0.03 0.00 0.00
233950-05 99.58 0.19 0.21 0.02 0.00 0.00
233950-04 99.23 0.29 0.45 0.03 0.00 0.00
233950-03 99.37 0.25 0.34 0.04 0.00 0.00
233950-02 99.59 0.20 0.19 0.01 0.00 0.00
233950-01 99.13 0.32 0.50 0.05 0.00 0.00
APPENDIX D: Point scans using a copper-alloy calibrated handheld XRF
Sample ID Application Method Cu Cu Err Al Si P S Ti Cr Mn Fe Co Ni
233950 Neergaard Dal Alloys 2 LE Copper 99.6497 0.164 0.3185 < LOD < LOD 0.0014 < LOD < LOD 0.0065 < LOD < LOD < LOD
Zn As Se Zr Nb Ag Cd Sn Sb Te Pb Bi
< LOD < LOD < LOD 0.0069 < LOD < LOD < LOD < LOD < LOD < LOD < LOD < LOD
Sample ID Application Method Cu Cu Err Al Si P S Ti Cr Mn Fe Co Ni
233852 Neergaard South Alloys 2 LE Copper 99.1317 0.1709 0.3047 0.2298 < LOD 0.0012 0.0268 0.0255 0.0061 0.0335 < LOD < LOD
Zn As Se Zr Nb Ag Cd Sn Sb Te Pb Bi
< LOD < LOD < LOD < LOD < LOD < LOD < LOD 0.1863 < LOD < LOD < LOD < LOD
JORC Table 1, section 2: Reporting of Exploration Results
Criteria Arctic Rift Copper project
Mineral tenement and land tenure status The Arctic Rift Copper project ('ARC') comprises a single Special Exploration
Licence ('MEL-S' 2021-07). The spatial area of the application is
5,774km(2), the boundary of which is defined by the points:
82°3'N, 29°18'W 81°35'N, 26°8'W
82°3'N, 25°41'W 81°30'N, 26°8'W
82°0'N, 25°41'W 81°30'N, 26°54'W
82°0'N, 25°43'W 81°25'N, 26°54'W
81°59'N, 25°43'W 81°25'N, 28°20'W
81°59'N, 25°44'W 81°21'N, 28°20'W
81°58'N, 25°44'W 81°21'N, 29°35'W
81°58'N, 25°46'W 81°19'N, 29°35'W
81°56'N, 25°46'W 81°19'N, 31°0'W
81°56'N, 25°48'W 81°27'N, 31°0'W
81°55'N, 25°48'W 81°27'N, 31°42'W
81°55'N, 25°50'W 81°34'N, 31°42'W
81°53'N, 25°50'W 81°34'N, 32°7'W
81°53'N, 25°52'W 81°51'N, 32°7'W
81°50'N, 25°52'W 81°51'N, 31°0'W
81°50'N, 25°54'W 81°54'N, 31°0'W
81°46'N, 25°54'W 81°54'N, 30°18'W
81°46'N, 25°55'W 81°58'N, 30°18'W
81°35'N, 25°55'W 81°58'N, 29°18'W
An MEL-S confers an exclusive right to explore for minerals for three years at
a reduced holding cost, provided each licence covers more than 1,000km(2).
After three years, the holder of Special Exploration Licence has the right to
convert the area, whole or in part, to conventional Exploration
Licences. Due to the Coronavirus pandemic, all licence obligations in
Greenland were paused until the end of 2021, such that the MEL-S can convert
to a normal licence at the end of 2024.
The minimum expenditure obligation for a MEL-S is DKK500/km(2) indexed to
Danish CPI as of January 1992. The Greenfields estimates the expenditure
requirement will be approximately AUD1,080,000 per annum. However, the
Government has waived all expenditure obligations for 2020 and 2021, and as
such, no holding cost of the licence will crystallise until 31 December
2022. The obligation for 2022 will be calculated on 1 January 2023 based on
the area under licence on the preceding day. Expenditure above the minimum
regulatory requirement is carried forward for a maximum of three years. ARC
is in good standing.
There are no third-party royalties or other rights relating to ARC.
Exploration done by other parties North Greenland was first commercially explored in 1969 and 1972, which
identified native copper and copper sulphides in eastern North Greenland. It
wasn't until 1979 and 1980 that more substantive work was performed, this time
by the Government.
ARC was subject to commercial exploration by Avannaa Resources Limited
('Avannaa') in 2010 and 2011. In its first year, Avannaa focussed its work
on a small area in the northern part of the licence area known as Neergaard
North (and subsequently the Discovery Zone). This work focussed on
historical Government and academic work that had identified highly anomalous
copper mineralisation. In 2010, the work included geochemical soil sampling,
rock chipping and trenching of high-grade material associated with NW-SE
trending fault breccias. Based on the success of the 2010 program, Avannaa
undertook a much larger regional reconnaissance program in 2011. This
program involved a heli-supported geochemical sampling program over a large
area designed to test the copper prospectivity of various stratigraphic
positions, as well as extending the length of the 'Discovery Zone' identified
in 2010. Both aspects of this program were successful in that the Discovery
Zone was shown to have a minimum strike length of 2km before disappearing
undercover. Certain stratigraphic horizons show copper anomalism over a
significant lateral extent. However, much of Avannaa's work was located to
the southeast of the ARC and is now located in a Government-mandated no-go
zone for mineral exploration.
Geology ARC contains a sequence of Mesoproterozoic-aged sandstone dominated sediments
belonging to the Independence Fjord Basin, that are intruded by highly altered
dolerites and overlain by 1.2km of Mesoproterozoic-aged flood basalts
('Zig-Zag Fm' basalts). The basalts are overlain by 1.1km of
Neoproterozoic-aged (1,000M to 541M years ago) clastic and carbonate sediments
belonging to the Hagen Fjord Group. The lower portion of the Hagen Fjord
Group is dominated by sandstones and siltstones, and the upper part by
limestone and dolomites. Based on stream sediment samples, the iron oxide
minerals switch from magnetite to the east of ARC, to haematite within ARC,
which reflects a change in fluid oxidation state (from reduced to oxidised).
Fluid flow is from east to west which implies that oxidation is a component of
the copper dropping out of the solution. The oxidation of a reduced fluid is
consistent with the chemistry required to form native copper, such as that
observed in ARC. The metamorphic grade of the Zig-Zag Fm basalts is of the
zeolite facies, and the Hagen Fjord Group sediments show lower grade
metamorphism. There is adequate preservation aside from mechanical erosion.
Commercially interesting copper mineralisation occurs in the basalts and Hagen
Fjord Group sediments. The basalts are known to contain in situ native
copper, and native copper is found extensively in the surrounding drainage
systems. Significantly, the native copper specimens recovered by the
Government in 1979 and 1994, and by Avannaa in 2010 weigh up to 1kg. These
large native copper specimens likely originate from amygdales (gas voids) in
the basalt, although native copper occurring in faults is also known to occur
within ARC. Greenfields considers that the age, setting, and mineral
composition make the Zig-Zag Fm copper analogous to the copper deposits of the
Michigan Upper (Keweenaw) Peninsula and a primary source of copper for the
anomalies reported in the overlying sediments. The fault breccias that
transect the basalts and Neoproterozoic sediments are Greenfields interprets
these to represent fluid pathways as there are zones of intense potassium
alteration within the surrounding quartz dominated sedimentary rocks. These
breccias are up to 25m wide and show copper mineralisation. The chalcocite,
bornite and chalcopyrite copper-bearing minerals are significant as they
demonstrate that sulphur has been added into a previously
sulphur-undersaturated system. A source of sulphur is generally considered
an important factor in the sediment-hosted copper 'deposit model'. Other
important components of the deposit model are also reported, including
pseudomorphed gypsum (a source of sulphur, and copper mobilising salts),
hydrogeologic seals, and contrasting oxidation states. Copper sulphides
occur in the predicted geological lithological settings. The highest copper
grades are close to geophysical gravity, magnetic and electromagnetic
anomalies. The ~640 km(2) area of geophysical and geochemical anomalism is
dubbed the Minik Singularity.
The age of the known mineralisation concerns at least two episodes.
Greenfields identifies the Elzevirian Orogeny (c. 1,250Ma) as the likely event
associated with the native copper mineralisation in the basalts. However,
the Neoproterozoic-aged sediment-hosted copper sulphides demonstrate that
there was a second mineralising event associated with the waning Caledonian
Orogeny (c. 390 to 380 Ma). The Elzevirian and Caledonian orogenies have a
similar orientation. The c. 385 maximum age is supported by the absence of
mineralisation known to younger than the Silurian Period (443.8 Ma to 419.2
Ma). The Silurian is associated with the formation of the Citronen zinc
deposit, currently licenced by Ironbark Zinc Ltd. Greenfields considers
Citronen and ARC's copper sulphides to have formed due to the same event.
The known copper and zinc, combined with a Greenfields interpreted geological
history, geochronology, and hydrothermal fluid temperatures, to define the
+60,000km(2) Kiffaanngissuseq Metallogenic Province.
The two hydrothermal events that Greenfields interprets to have created the
Kiffaanngissuseq Metallogenic Province are distinctly different. Greenfields
considers that the Elzevirian-aged fluids were chemically reduced but enriched
in cerium. This cerium may have triggered anoxic oxidation of the
copper-bearing titanomagnetite minerals. This interpretation is consistent
with the observation at Astrup Anomaly, where the sedimentary rocks underneath
the mafic appear to be chemically reduced (grey), whereas above the mafic they
are oxidised. This implies that the reduced Elzevirian hydrothermal fluids
that emanated from deeper underground and cerium bearing and quite vigorous in
their interaction with the mafic rock to produce the intense iron-oxide
staining above it. By comparison, the younger Caledonian hydrothermal fluids
may have been oxidised, as at the Discovery Zone there is evidence that the
fluids were reduced by pyrite, resulting in the precipitation of copper
sulphides.
The basal flows of the Zig-Zag Fm basalts show a marked depletion in nickel.
Such a depletion suggests that the nickel may have been deposited into
sulphides and, conceptually, as nickel sulphide deposit. There has been no
effective commercial work on testing the nickel sulphide potential.
Pentlandite, a nickel-bearing sulphide, is observed in at least one of the
intrusions beneath the basalts. There is no other evidence upon which the
nickel-sulphide prospectivity can be evaluated at this stage.
The known copper mineralisation, both sulphide and native, appears to have a
structural control. An independent structural geologist, Dr Mark Munro,
conducted a review of ARC and confirmed that there is clear evidence of
reverse faulting in an area otherwise dominated by normal faulting that
Greenfields observes to correlate with the known mineralisation. This review
was based on satellite imagery, as well as oblique photography of the fjords
taken in 1979/1980. Dr Munro's review also included Greenfields' revised
lithological and structural mapping based on the same data, and largely
concurred with Greenfields' interpretation relative to the historical
mapping. This reverse faulting does not appear to have been previously
reported in the literature. Furthermore, and new to Greenfields'
understanding was that Dr Munro identified that Neergaard Valley ('Dal' in
Danish) as being a fault with a west side up motion, possibly in a shortening
motion. At the analogous Keweenaw Peninsula, reverse faulting is considered
a primary control on copper mineralisation, and it is closely associated with
both the native copper and copper sulphides in Michigan.
An interactive Government portal that contains the geology, and supporting
reports can be accessed via: http://www.greenmin.gl/home.seam
(http://www.greenmin.gl/home.seam) . A fully referenced Technical Assessment
Report on ARC, can be accessed at http://dx (http://dx)
.doi.org/10.13140/RG.2.2.18610.84161 .
Drill hole information No drilling has ever occurred within the ARC or in the surrounding area.
Data aggregation methods No data aggregation was performed. All the raw data are presented in the
appendix, and statistically summarised in the main body of this announcement.
Relationship between mineralisation width and intercept lengths. The micro-XRF was performed on isolated samples that do not relate to
mineralisation widths. The purpose of the analysis is to establish
mineralogical quality and as such, intersection lengths are not currently
relevant.
Diagrams All relevant maps are presented in the main body and appendices in this
document, with additional tables and figures available in the Technical
Assessment Report.
Balanced reporting Greenfields has sourced and reasonably presented all the results. The
results are presented statistically as well as graphically so that the reader
can use these to make a balanced assessment of the economically interesting
results. The reader is advised that at this stage, the micro-XRF results
are indicative and should not be confused with more traditional, destructive
assay techniques.
Other substantive exploration data Since Greenfields licenced ARC, the only new data is in the form of satellite
multispectral data, and analysis of historical samples stored in government
facilities in Copenhagen, Denmark. The copper quality analysis presented in
this release is the first of its kind for ARC, and there is no other
substantive data which relates to it.
Further work The native copper samples will be subject to additional non-destructive
analyses. As these samples are on loan from the Geological Survey of Denmark
and Greenland, it is not possible to perform destructive assays.
JORC Table 1, section 1
Criteria Arctic Rift Copper project
Sampling techniques Assay data presented in this document relate to the micro-XRF analyses of a
historical samples from within the ARC project. Cross checks were performed
with using a handheld, portable XRF unit that is specifically calibrated to
copper alloys.
The samples were partially polished by Greenfields. The Discovery Zone sample
was sent to the University of Copenhagen, Department of Geosciences and
Natural Resource Management, and the Neergaard Dal and Neergaard South samples
were sent to Portable Spectral Services Pty Ltd (the consultant). All three
samples were analysed by Bruker M4 micro-XRF machines, with the analysis aimed
on the sample's polished surfaces. The consultant also used a Bruker S1
Titan using the factory calibration for copper alloys on the Neergaard Dal and
Neergaard South samples.
For the sample from the Discovery Zone, the micro-XRF was used in two ways.
Firstly, a rapid scan of a 12 x 15 mm area produced an elemental map where the
pixels are the result of hundreds of thousands of 20-microsecond-long scans.
Later, a 6 x 3 mm subarea without any surficial weathering was selected for 71
1-minute-long scans. These longer scans produced the concentration results
presented in Appendix.
The same multi-point 1-minute-long analysis method was used for the Neergaard
Dal and Neergaard South samples. The analysis of Neergaard Dal native copper
comprised of 25 point scans while the and Neergaard South sample had 13 points
of analysis. The analysis was taken on fresh native copper mineralisation that
had been polished flat and cleared of surface weathering. The Neergaard Dal
sample is in the form of a slab and the Neergaard South sample is a small
copper nodule that was chipped off a larger sample.
All three samples were polished on a sanding table prior to the analysis. A
flat area was polished into the samples to remove surface weathering and
because the M4 Tornado machine works best when analysing flat surfaces.
Drill techniques No drilling has ever occurred within the ARC.
Drill sample recovery No drilling has ever occurred within the ARC.
Logging No drilling has ever occurred within the ARC, and as such no logging records
exist.
Sub-sampling techniques and sample preparation No sub sampling was performed.
Quality of assay data and laboratory tests XRF information, even micro-XRF, should be treated with caution due to the
small sample and the 2-dimensional nature of the analysis. However,
micro-XRF is both quantitatively and qualitatively better than the
industry-common handheld XRF analysis. The precision of the scans, and the
large area that they can cover can in turn be used to determine which mineral
species are present. By contrast, hand-held XRF units only give elemental
information from a single, small point. For a first investigation into
determining the quality of the native copper, the Company considers the
reliability and accuracy of the method to be appropriate. However, the
consultant did use a hand-held XRF that is specifically calibrated to copper
alloys to act as a check for the micro-XRF. The results of the hand-held and
micro-XRF are in agreeance.
Verification of sampling and assaying No third-party verification of the historical assay results has been
undertaken. However, the Company undertook analysis through an academic
institution as well as a respected consulting firm, both of which used
different machines but yielded similar results. The Consultant also used
copper-alloy calibrated hand-held XRF to confirm the micro-XRF analyses.
Definitive, but destructive metallurgical analysis is not possible as the
sample does not belong to the Company and must be returned to the government
geological survey.
Location of data points The location of the historical samples is based on information that is
publicly disclosed by the Government. Grids are based on UTM Zones 26 and 27
using the WGS84 Datum. No precise location for the analysed native copper
sample was available due to it being recovered prior to the widespread
adaptation of GPS technology.
Data spacing and distribution Sampling was undertaken at selected sites within the historical area. The
samples were not insitu, however Greenfields considers that their source is in
the immediately vicinity given the presence of intense copper sulphide
mineralisation that is likely intimately associated with pre-existing native
copper mineralisation. As the micro-XRF analysis was to determine
metallurgical quality, not grades or thickness, the spatial imprecision is not
considered by the Company to be material.
Orientation of data in relation to geological structure Sampling orientation was appropriate for the intended metallurgical purpose
and representative of the anticipated mineralisation.
Sample security Greenfields has no information on the measures taken to ensure sample
security. Given the age of the sampling, it being collected and stored
(largely forgotten) by the government, and the low probability of sample
tampering, the Company has no cause for concern.
Audits or reviews Greenfields is unaware of any audits or reviews within ARC. The micro-XRF
analysis was of three samples. A government institution conducted the analysis
for the Discovery Zone samples and the Consultant did the analysis on the
Neergaard Dal and Neergaard South samples. All testing was for a preliminary,
indicative purpose and an audit or review was not needed necessary.
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