Last checked at 17 Oct 2022 15:44
RNS Number : 1467D Amaroq Minerals Lt 17 October 2022 160160
("Amaroq" or the "Corporation")Upate Nalunaq NI-43-101 Technical Report File on SEDAR
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TORONTO, ONTARIO - October 17, 2022 - Amaroq Minerals Lt. (AIM, TSXV: AMRQ - formerly AEX Gol), an inepenent mine evelopment company with a substantial lan package of gol an strategic mineral assets covering an area of 7,866.8160km2 in Southern Greenlan, announces that the upate National Instrument 43-101 report pertaining to the Nalunaq project, has been file on the Company's SEDAR profile (www.sear.com).
The Technical report etails the upate Mineral Resource Estimate (MRE) for its flagship Nalunaq Gol project, prepare by SRK Consulting (UK) Limite (SRK). This upate, terme MRE3, was announce on September 6, 2022 an is reporte in accorance with the Canaian Institute of Mining, Metallurgy an Petroleum (CIM) Definition Stanars on Mineral Resources an Mineral Reserves (May 2014).
The upate MRE is summarise in Table 1 below.
Highlights
183160160160 Total Inferre Mineral Resource of 3.0Kt @ 28.0g/t Au for 320Koz gol, reporte accoring to CIM Definition Stanars by SRK.
183160160160 This constitutes a 30% increase in containe gol compare to the previous estimate reporte in June 2020 an a 0% increase in average grae.
183160160160 The Nalunaq project now sits within the top 2% in terms of global reporte gol resource graes.
183160160160 Due to the high grae nature of the Nalunaq eposit, it is relatively insensitive to cut-off grae an remains robust at a range of gol prices.
Table 1: Mineral Resource Statement for Nalunaq gol eposit, Greenlan, as of 3r September 2022
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Mineral Resource Statement Notes
8226160160160160 Mineral Resources are reporte in accorance with the CIM Definition Stanars.
8226160160160160 Mineral Resources have an effective ate of 3 September 2022, an have been eplete to reflect the current unerstaning of the mining complete up to the ate of prouction ceasing in 2013
8226160160160160 Mineral Resources are reporte as in-situ an unilute. The Mineral Resources are reporte above a cut-off grae of .0 g/t, generate using a gol price of 1,800 USD/ozAu. Given these parameters, SRK consiers there to be reasonable prospects for eventual economic extraction, an as such, fulfil the requirements for reporting a Mineral Resource
8226160160160160 The In-Mine Mineral Resource is accessible from existing unergroun evelopment while the Extension Mineral Resource requires evelopment to be put in place for it to be accesse
8226160160160160 Mineral Resources are not Ore Reserves an have not emonstrate economic viability, nor have any mining moifying factors been applie
8226160160160160 The Competent Person for the eclaration of Mineral Resources is Dr Lucy Roberts, MAusIMM(CP), of SRK Consulting. The Mineral Resource estimates an accompanying Statements were prouce an reviewe by a team of consultants from SRK.
8226160160160160 SRK notes that a site visit to Nalunaq was conucte by the QP in September 2021
8226160160160160 Tonnages are reporte in metric units, with metal graes in grammes per tonne (g/t). Tonnages an graes are roune. Rouning, as require by reporting guielines, may result in apparent summation ifferences between tonnes, grae an containe metal content. Where these occur, SRK oes not consier these to be material.
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Qualifie Person Statement
The Mineral Resource Estimate was prepare by Dr Lucy Roberts, MAusIMM(CP), Principal Consultant (Resource Geology), SRK Consulting (UK) Limite., an inepenent Qualifie Person in accorance with the requirements of National Instrument 43-101 ("NI 43-101"). Dr Roberts has approve the isclosure herein.
The technical information presente in this press release has been approve by James Gilbertson CGeol, VP Exploration for160Amaroq Minerals160an a Chartere Geologist with the160Geological Society of160Lonon, an as such a Qualifie Person as efine by NI 43-101.
Use of a Stanar
The resource information inclue within this announcement is reporte in accorance with the Canaian Institute of Mining, Metallurgy an Petroleum (CIM) Definition Stanars on Mineral Resources an Mineral Reserves (May 2014) as require by CIM Definition Stanars.
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Enquiries:
Amaroq Minerals Lt.160160160160160160160160160
Elur Olafsson, Executive Director an CEO
+34 66 2003
eo@amaroqminerals.com
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Eie Wyvill, Investor Relations
+44 (0)7713 126727
ew@amaroqminerals.com
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Stifel Nicolaus Europe Limite (Nominate Aviser an Broker)
Callum Stewart
Simon Mensley
Ashton Clanfiel
+44 (0) 20 7710 7600
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Panmure Goron (UK) Limite (Joint Broker)
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John Prior
Hugh Rich
Dougie Mcleo
+44 (0) 20 7886 200
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SI Capital Limite (Joint Broker)
Nick Emerson
Charlie Stephenson
+44 (0) 1483 41300
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Camarco (Financial PR)
Billy Clegg
Elfie Kent
Charlie Dingwall
+44 (0) 20 377 4980
For Company upates:
Follow @Amaroq_minerals on Twitter
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Further Information:
About Amaroq Minerals
Amaroq Minerals' principal business objectives are the ientification, acquisition, exploration, an evelopment of gol an strategic metal properties in Greenlan. The Company's principal asset is a 100% interest in the Nalunaq Project, an avance exploration stage property with an exploitation license incluing the previously operating Nalunaq gol mine. The Corporation has a portfolio of gol an strategic metal assets covering1607,866.8km2, the largest mineral portfolio in Southern Greenlan covering the two known gol belts in the region. Amaroq Minerals is incorporate uner the160Canaa Business Corporations Act160an wholly owns Nalunaq A/S, incorporate uner the160Greenlan Public Companies Act.
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Forwar-Looking Information
This press release contains forwar-looking information within the meaning of applicable securities legislation, which reflects the Company's current expectations regaring future events an the future growth of the Company's business. In this press release there is forwar-looking information base on a number of assumptions an subject to a number of risks an uncertainties, many of which are beyon the Company's control, that coul cause actual results an events to iffer materially from those that are isclose in or implie by such forwar-looking information. Such risks an uncertainties inclue but are not limite to the factors iscusse uner "Risk Factors" in the Final Prospectus available uner the Company's profile on SEDAR at www.sear.com. Any forwar-looking information inclue in this press release is base only on information currently available to the Company an speaks only as of the ate on which it is mae. Except as require by applicable securities laws, the Company assumes no obligation to upate or revise any forwar-looking information to reflect new circumstances or events. No securities regulatory authority has either approve or isapprove of the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provier (as that term is efine in policies of the TSX Venture Exchange) accepts responsibility for the aequacy or accuracy of this release.
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Glossary
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Insie Information
This announcement oes not contain insie information.
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