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(Sharecast News) - Amaroq said in an update on Wednesday that exploration results from its 2025 field campaign at the Minturn prospect in northwest Greenland confirmed high-grade iron mineralisation and highlighted potential for copper and gold, supporting its view that the area represented a large-scale iron oxide copper gold (IOCG) system.
The AIM-traded company said surface sampling returned iron grades of up to 69.5% across a roughly nine kilometre strike length of magnetite-rich alteration, with multiple samples grading between 66% and 69% iron.
It said the scale of the mineralised system, combined with extensive iron oxide alteration and brecciation, was consistent with a Kiruna-style IOCG deposit and marked a potentially significant new discovery in a frontier region of Greenland.
"These initial results from Minturn demonstrate that Greenland has the geological ingredients to host truly elephant-scale mineral systems," said James Gilbertson, vice president of exploration.
"The identification of what appears to be a Kiruna-style IOCG project, underpinned by extensive iron oxide alteration and very high iron grades at surface, represents a significant strategic step for Amaroq and its joint venture company, Gardaq."
He added that the scale of the system and associated magnetic and electromagnetic anomalies "point to the potential for copper and gold mineralisation within a broader IOCG framework".
Amaroq said reprocessing and reinterpretation of historic geophysical data revealed a mineralised corridor extending over an 80 kilometre linear zone, significantly larger and more complex than previously understood.
The Minturn prospect also showed potential for direct shipping ore suitable for direct reduced iron products, with low levels of deleterious elements such as silica, aluminium, titanium and phosphorus, which the company said could support faster commercialisation if developed.
In addition to iron, the company said soil sampling over a parallel electromagnetic anomaly suggests copper and gold potential within the broader IOCG system.
Geophysical and geochemical indicators were now being evaluated to target potential copper-gold enriched centres during future exploration work.
Gilbertson said Amaroq was moving into active planning for a 2026 programme that would include scout drilling, detailed mapping and ground geophysical surveys.
"We are now in active planning for a 2026 programme ... to properly test the scale, geometry and economic potential of this emerging system," he said.
Amaroq said the Minturn project, located north of the Pituffik Space Base, is held within its strategic joint venture company Gardaq and aligned with its broader strategy of expanding Greenland's mineral development beyond gold into critical and strategic commodities.
The company said further exploration in 2026 would be aimed at delineating the extent of the mineralised system and evaluating its copper and gold potential alongside the high-grade iron core.
At 1225 GMT, shares in Amaroq were up 2.22% at 122.15p.
Reporting by Josh White for Sharecast.com.