12th Dec 2024 10:42
(Alliance News) - Amaroq Minerals Ltd on Thursday said it has identified gold grades in Greenland which are a "compelling validation" of the company's exploration strategy.
The Canada-based gold miner said its sampling identified gold grades up to 54.5 grams of gold per tonne at the Eagle's Nest exploration project within the Nanortalik gold belt in Greenland.
The company said it found two distinct gold veins which are believed to be the source of multiple float samples with more than 10 grams of gold per tonne identified in previous exploration.
It also said results suggest the site is geologically similar to the Nanulaq gold mine.
Vice President of Exploration James Gilbertson said the results were "encouraging" and "provide a compelling validation of our exploration strategy" and position the site as "strategically significant" within the company's portfolio.
The company said it plans to incorporate these findings into its exploration strategy for 2025.
Shares in Amaroq Minerals were up 2.4% to 93.70 pence in London on Thursday morning.
By Michael Hennessey, Alliance News reporter
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