Conico has kicked off another round of drilling at its Ryberg project in Greenland, targeting platinum group elements and gold at the company’s Cascata site and multi-metals at its Sortekap prospect.
Drilling is also about to start at Mestersvig, Conico’s other Greenland project, with all personnel and equipment on site.
Ryberg is a multi-element base and precious metal project spanning 4500 square kilometres on the east coast of Greenland, about 430km north-west of Iceland.
In April, Conico announced it had intersected high-grade gold in its third diamond drillhole at its Sortekap prospect with results including 1m at 42.81 grams per tonne gold from 41m downhole and 1m grading 2.58 g/t gold from 22m.
Previous geochemical analysis picked up samples rich in copper, nickel, cobalt, palladium and gold at the site.
Samples included results grading up to 0.33 per cent nickel, 0.52 per cent copper, 0.03 per cent cobalt and 2.7 g/t gold.
The company says its latest drilling campaign will target several local magnetic features in addition to areas of mineralised rock samples.
The Cascata target was identified in August last year after Conico discovered mineralisation it interpreted as a potential volcanogenic massive sulphide, or “VMS”.
VMS is a mineralisation style that is famous around the world for hosting mega deposits that often form in clusters and can be a major source of metals such as copper, lead and zinc and can also produce economic amounts of gold and silver.
Conico’s drill program this year will test the geochemistry of the mafic intrusion to determine the potential of reef-style precious metal mineralisation.
Mestersvig hosts the historical Blyklippen mine that produced 545,000 tonnes of ore at 9.9 per cent zinc and 9.3 per cent lead between 1956 and 1962.
Conico has highlighted a 13km strike stretching from Blyklippen, one of four major targets identified by the company including Sortebjerg, Nuldal and Oksedal.
The company says Mestersvig has the potential to host a very large mineralised system.
The explorer says it is also planning field investigations at several new Ryberg prospects that were identified from aero-magnetic surveys completed last year, including Pyramiden, Quest and Qiterpiaaneq.
With two significant land holdings in a sparsely explored region of the world, the market may be keen to see what the next drilling program can unearth for Conico.
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By Matt Birney
