Serious grades1 Apr 2021 09:50
Highlights
· Historic channel sampling of the main shear zone has returned high grade results with highlights of 175.1 g/t gold over 0.8 m and 35.4 g/t gold over 0.95 m, and with grab samples up to 118 g/t gold.
· One grab sample collected from the main shear zone in 2020 returned 22.3 g/t gold.
· A float sample of highly altered metavolcanic rock rich in malachite and pyrite was collected close to Kangerluluk fjord, approximately 100 metres east of the main shear zone and returned 3.83% copper and 34 g/t silver.
· Follow up structural mapping and sampling at Kangerluluk is planned for 2021.
“With respect to the review of the Nalunaq development plan, the Company has engaged the global mining consulting firm Ausenco to conduct a thorough, independent, review of all technical aspects of the mine development. This third-party review will assist the Company in determining what, if any, amendments are needed to the plan and schedule, and allow the Board to present a revised plan to shareholders that reflects such amendments as we consider appropriate. This revised plan will clearly also address costs and any potential further capital requirements, with an assessment of how the Company intends to meet them. The review is currently ongoing, and the Company will report its revised plan to shareholders as soon as reasonably practicable.”
"I am very pleased to announce this preliminary data on our Kangerluluk licence, our most northerly asset on the Nanortalik Gold Belt where we hold the vast majority of the acreage. Yet again, the grades reiterate our belief that we are uncovering one of the most exciting Gold provinces in the world. We will continue to carry out exploration activity this year on this licence and over the rest of our portfolio of licences."