Proactive Investors - Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ)’s 2023 exploration programme at the Sava copper project in South Greenland has identified further evidence of a significant copper mineral system at Target (NYSE:TGT) West.
The company's exploration efforts at Target West intersected notable copper and molybdenum mineralisation, indicating the presence of a large porphyry-style system.
Amaroq’s 2023 exploration programme included four drill holes across two targets within the Sava Licence, totalling 2,200 meters, all completed within the allocated time and budget.
The results from Target West confirmed skarn mineralisation with up to 11.6% copper and porphyry-style mineralisation with assays up to 2% copper equivalent.
James Gilbertson, vice president of exploration, commented: “2023 proved to be a very promising first year for our three-year funded exploration programme through the Gardaq JV.
“At present, we have identified tonnage and remain close to surface. We will now continue to drill the targets to identify and locate high-grade mineralisation.
“Subject to results, we would expect to be in a position to define the feasibility of a project such as this after 3-5 years and at that stage establish a pathway towards permitting and development."
The Sava project, acquired by Amaroq in early 2021, is positioned alongside the Ilimaussaq complex, which holds an estimated 1.5% of the global Rare Earths Element (REE) resources.
Mineral system modelling supports Amaroq’s belief that the Sava project sits within a newly identified copper belt, striking approximately 200 kilometres along a major deep-seated structure running from the company's Kobberminebugt licence and eastward to the North Sava licence.
Alongside advanced exploration at Target West, Amaroq is also reviewing scouting data from Target North.