Six out of six drill holes at the exciting Miki discovery – part of the Ryberg project in Greenland — have now intersected sulphides. Conico believes this emerging system is likely “fertile” at depth.

In July, Conico (ASX:CNJ) surged after hitting about 55m of “significant sulphide mineralisation” in its very first hole at the Miki prospect.

Assays will begin coming through in 2-4 weeks. Meanwhile, drilling has continued.

Conico has now confirmed broad widths of “net textured, disseminated, vein hosted and stringers of chalcopyrite and pyrrhotite- mineralisation” in holes 5 and 6.

Both drill-holes targeted magnetic anomalies detected in the downhole survey of discovery hole MIDD001.

Preliminary investigations show that the anomaly is likely to represent pyrrhotite (nickel) and chalcopyrite (copper) sulphide mineralisation, Conico says.

Drilling has kicked off on hole 7, ~1.5km north of previous drilling at Miki, and at the Sortekap gold-nickel prospect.

An aeromagnetic-radiometric survey across Ryberg is also 65% completed.

Future drilling is now targeting additional mineralisation along the 50km+ strike length of the Miki Fjord and Togeda Dykes.

Based on the limited drilling to date and mineralisation observed at surface, this system is likely to be “fertile” at depth, Conico says.

“We are highly encouraged by the results from the first 6 drill holes into the Miki Prospect with every hole intersecting sulphide mineralisation,” Conico director Guy Le Page says.

“Importantly, drilling has only taken place in a confined part of the licence area with drilling now stepping out over as much of the 50km Miki Fjord dyke that can be accessed, guided by surface expressions of mineralisation.”

First mover advantage

This drill program is the first to occur at the Ryberg Project, Le Page said in July.

“We have a first mover advantage that has allowed us to accumulate a land package in excess of 4,500km2, all of which have the geological hallmarks that are prerequisite to discover magmatic sulphides,” he says.

“Previous years’ exploration has highlighted the Miki Prospect as a priority target, particularly multiple EM surveys that have independently identified conductive anomalies that are now the subject of drilling.”

The company has the option to keep all drilling equipment on site in preparation for the recommencement of drilling in 2022.




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.