Amaroq Minerals samples one metre of 48.3 g/t gold at Nalunaq, Greenland

Amaroq Minerals Ltd. [AMRQ, TSXV] reported additional exploration results from within the Nalunaq mine, Greenland, following its 2023 exploration program.

James Gilbertson, vice-president of exploration, commented: “A thorough underground exploration program, guided by our dolerite dike model, has once again enabled our team to identify further resource and mining potential at Nalunaq. These channel results highlight the continuity of the high grade at the target block beyond the last historic stopes. This significantly de-risks a designed underground rehabilitation and exploration program aimed at advancing additional development faces, which should help the company to progress towards its target production rate of 300tpd and increase the overall contained resource.

“In addition, further sample results now confirm the significant extent of the newly discovered 75 vein, now with a total extension similar to that of the Main vein. This body is now known to extend above all mining blocks with grades of up to 256 g/t Au over 0.5m above the Mountain block, 22.59 g/t Au over 0.59m above the target block, 175 g/t Au over 0.51m above the South block and 15.5 g/t Au over 1.45m above the Valley block. These results enable us to robustly model this second vein and, following further drilling results, we hope to be in a position to define a Mineral Resource for this vein in the near future.”

Results received from underground channel sampling across three levels within the target block, historically the highest grade region of the mine. Sampling was aimed at corroborating previously unreported historical channel samples that suggested the continuation of the target block into extension areas.

Results confirm high grade nature of the target block extending into previously unmined areas with grades of up to 48.3 g/t gold over 1 metre. Following these results, Amaroq intends to commence underground drilling aimed at developing a second mining face at Nalunaq with a potential strike extension of up to 775 metres.

Additional samples further confirm the continuity of the newly discovered 75 vein, with grades of up to 256 g/t Au over 0.5m reported in the 2023 Nalunaq drilling campaign.

Amaroq intends to further expand the sampling of core from historical drill holes in 2024 to aid the geological modelling of the 75 vein.

Underground exploration: During an underground exploration program guided by Amaroq’s dolerite dike model at Nalunaq during 2023, the Amaroq team recognized that the Main vein appeared to extend beyond the last stope within the western areas of the target block. This area was formerly the highest grade region of the Nalunaq mine. This strongly suggested that the mineralization previously mined within this block extended well beyond the last stopes and into virgin ground.

Additional 75 vein sampling: Following the discovery of the new mineralized vein, 75 metres stratigraphically above the Main vein from the 2023 drilling, the Amaroq team reassessed the remaining core from this program as well as a number of historical drill holes that potentially had intersected the 75 vein, but not been fully recognized. The results of this now conclude that five of the six 2024 drill holes intersected this body and that now a total of 46 75 vein intersects have been recognized. In addition to this a further ~100 intersections require review and sampling; this will be conducted during 2024.

The 75 vein is now the most continuous mineralized body at Nalunaq after the Main vein, with a similar overall strike extent. Amaroq’s intention is to continue the re-logging and identification of additional 75 vein intersects during 2024, facilitating the robust modelling of this vein, which will in turn allow for Mineral Resource estimation in areas that contain sufficient drill density.

The 75 vein now also constitutes a potential mine development area towards developing additional mine faces allowing the company to build towards its target production rate of 300 tpd.

Amaroq Minerals’ principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in Greenland. The company’s principal asset is a 100% interest in the Nalunaq Project, an advanced exploration stage property with an exploitation license including the previously operating Nalunaq gold mine. The corporation has a portfolio of gold and strategic metal assets in Southern Greenland covering the two known gold belts in the region.