Amaroq Minerals Ltd - independent mine development company focused on Southern Greenland - Says that it got results from underground channel sampling at the Nanaluq mine across three levels within the target block. Results confirmed the high grade nature of the block, extending into previously unmined areas with grades of up to 48.3 grams per tonne of gold over 1 metre. Following these results, Amaroq plans to start underground drilling, aimed at developing a second mining face at Nalunaq with a potential strike extension of up to 775 metres.

Vice President of Exploration James Gilbertson says: ‘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 programme 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.’

Current stock price: 76.00 pence, up 2.7%

12-month change: up 77%

Copyright 2024 Alliance News Ltd. All Rights Reserved.