Highlights
Surface exploration was conducted across three target areas within the
Results suggest a potentially large iron oxide, copper gold (IOCG) mineral system, in line with the Company's initial 2021 assessment of the area, and produced high-quality samples with copper, gold, silver and molybdenum mineralisation
One of the scout drillholes intersected 21 meters of elevated copper grades at surface, in addition to evidence of IOCG style mineralisation
Samples also demonstrated elevated levels of Molybdenum (Mo), a valuable element used in metal alloys, as well as Copper (Cu),
Rare Earth Elements (LREE)
Up to 7.86% Molybdenum recorded in surface sampling, more than twice the grade of the highest grade molybdenum mine globally
Mineralised breccia zone, typical for IOCG deposits, identified over a kilometre with grades of up to 0.46% Cu, 4.35g/t Au and 40.9g/t Ag
Exploration results from Amaroq's new Kobberminebugt licence, expected in the next few weeks, and more analyses to evidence the scale of this new emerging copper/IOCG belt in south
Eldur Olafsson, CEO of Amaroq, commented:
'I am delighted to announce to the market today that our 2022 exploration programme at
'The potential for
At Target West, a 166.43m diamond drillhole (SAVA2201) was completed into the centre of an IOCG anomaly with significant surface copper staining and evidence of hydrothermal activity. Drilling intersected anomalous copper in the first 21 meters with grades of up to 0.3% Cu in a potassic and sodic altered quartz monzonite. Below this, significant magnetite alteration and molybdenum mineralisation was noted. Both of these styles are indicative of an IOCG related system. Drilling at Target South (SAVA2202) intersected 152.43m of strongly altered magnetite rich granitoids containing a Magnetite-Actinolite-Apatite layer enriched in LREEs which was also identified in SAVA2201.
Contact:
Eldur Olafsson
Executive Director and CEO
T: +354 665 2003
E: eo@amaroqminerals.com
Investor
T: +44 (0)7713 126727
E: ew@amaroqminerals.com
Nominated Adviser and Broker
Simon Mensley
T: +44 (0) 20 7710 7600
Joint Broker
T: +44 (0) 20 7886 2500
SI
Joint Broker
T: +44 (0) 1483 413500
Camarco
Financial PR
T: +44 (0) 20 3757 4980
About
Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events and the future growth of the Company's business. In this press release there is forwardlooking information based on a number of assumptions and subject to a number of risks and uncertainties, many of which are beyond the Company's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include but are not limited to the factors discussed under 'Risk Factors' in the Final Prospectus available under the Company's profile on SEDAR at www.sedar.com. Any forward-looking information included in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Company assumes no obligation to update or revise any forward-looking information to reflect new circumstances or events. No securities regulatory authority has either approved or disapproved of the contents of this press release. Neither
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