Conico’s drills are ready to prove Greenland’s precious potential
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Drilling to test Conico’s belief that Voisey Bay/Norilsk style mineralisation is present at its Ryberg project in Greenland is poised to begin shortly.
This follows the mobilisation of three drill rigs, geophysical equipment and personnel to site for the 2021 field season.
Adding further interest, Conico’s (ASX:CNJ) work marks the first time drilling will be carried out at the 4,500sqkm Ryberg site.
“It’s a wonderful feeling to be underway, embarking on the maiden drill program at Ryberg that has the potential to radically advance the project,” chief executive officer Thomas Abraham-James said.
“We are targeting in-demand battery and precious metals at a location that is within the European market.
“While in the field we will provide regular updates so that all can follow what will undoubtedly be a very exciting field season.”
Drilling activities will begin immediately once the transport vessel MV Mars arrives with the Miki prospect being the first cab off the rank.
Miki contains the ME1, ME2 and ME3 anomalies that range in depth from 80m and 200m from surface and are prospective for magmatic sulphides.
Previous surface sampling had yielded grades of up to 2.2% copper, 0.8% nickel, 0.1% cobalt, 3.3 grams per tonne (g/t) palladium and 0.2g/t gold.
This article was developed in collaboration with Conico, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.