Proactive Investors - Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ) has revealed a new discovery of a nickel-copper deposit at its Stendalen project, situated a mere 60km from Nalunaq in southern Greenland.
The company's maiden scout drillhole at Stendalen intersected over 140 metres of disseminated magmatic sulphides, which Amaroq said confirmed the presence of high-grade nickel-copper mineralization.
While the sulphides encountered thus far are of lower grade and disseminated in style, they provide valuable insights for Amaroq to target the more concentrated massive sulphides anticipated within the deposit.
Geophysical results have pinpointed the location of the feeder zone to the deposit, shaping the focus for the 2024 drilling program. These findings, including sulphide tenors, textures, scale, and mineralogy, closely resemble globally important nickel-copper deposits.
Amaroq said that calculations suggest that Stendalen has the potential to host grades similar to analogous deposits, with massive sulphide potentially reaching 3-5% nickel equivalent. With metals hosted solely in sulphides, strong future metal recoveries are anticipated.
"A new mineral discovery such as that seen at Stendalen is the culmination of many years of hard work by the Amaroq geological team, and is testament to our belief that South Greenland holds exceptional opportunities to host world class deposits,” CEO Eldur Olafsson said in a statement.
“The discovery of strategic metals such as copper and nickel, critical for the energy transition, in a region with such a strong geopolitical position, cannot be overstated. These initial results give us the confidence to deploy a larger proportion of the company's Gardaq JV fully funded three year exploration programme to this project during 2024 and beyond."
While initial results indicate disseminated lower-grade sulphides, the presence of taxitic textures reminiscent of renowned nickel-copper deposits like Talnakh (Noril'sk), Sudbury, and Voisey's Bay hints at the potential for high-grade massive sulphides within the system, according to James Gilbertson, Amaroq's vice president exploration.
The company's 2024 exploration plans include multiple drill rigs and a dedicated ground geophysical team mobilized to further delineate the deposit's extent and potential.