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(Sharecast News) - Amaroq Minerals reported significant progress on Tuesday, across its strategic minerals joint venture Gardaq AS in 2024, with drilling and reconnaissance activity spanning seven licences in southern Greenland.
The programme included 5,524 metres of core drilling across three high-priority sites, the identification of multiple new targets, and enhanced geological understanding of copper, nickel, cobalt, gold, and rare earth elements within the region.
At Stendalen, it said drilling confirmed a copper-nickel-cobalt mineralised system, with one narrow semi-massive sulphide zone encountered and petrographic analysis indicating high cobalt grades of up to 10%.
A post-drilling geophysical survey has revealed promising targets for follow-up exploration.
Meanwhile, exploration across the South Greenland Copper Belt delineated four new porphyry and epithermal targets, while the Johan Dahl Land licence yielded high-grade samples of up to 12.3 grams of gold per tonne and 5.1% copper at the newly named Ukaleq project.
Scout drilling at Target North confirmed a significant epithermal system despite no economic grades, and at Josva, historic structures were extended with modest copper and silver intercepts.
To support its technical capabilities, Amaroq appointed renowned porphyry and epithermal expert Dr Steve Garwin as Chief Technical Advisor to Gardaq, as the company looked to build on its dominant land position in the region and advance exploration in 2025.
"2024 was a defining year for Amaroq's strategic minerals exploration," said the company's vice-president of exploration James Gilbertson.
"While not every drill target yielded economic results, each programme delivered valuable geological insights that are sharpening our focus on the most promising opportunities.
"Key highlights include the discovery of new porphyry and epithermal systems, confirmation of a cobalt-rich nickel-copper target at Stendalen, and strong early results at Ukaleq - all reinforcing South Greenland's untapped potential."
Gilbertson said the company was also pleased to welcome Dr Steve Garwin as its technical advisor, adding that his "global expertise" in porphyry and epithermal systems was "already influencing" the firm's exploration strategy.
"With new drill data, geophysics, and assay results in hand, Amaroq is well positioned to prioritise 2025 follow-up programmes - including potential further drilling at Stendalen and Ukaleq.
"These next steps will be key in demonstrating the value of the Gardaq JV and its contribution to Amaroq's strategic growth."
At 1215 BST, shares in Amaroq Minerals were down 1.05% at 84.11p.
Reporting by Josh White for Sharecast.com.