Commencement of 2025 Exploration Campaign
('Amaroq' or the 'Company')
Commencement of 2025 Exploration Campaign
TORONTO, ONTARIO – 21 July 2025 – Amaroq Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ, OTCQX: AMRQF), an independent mine development corporation focused on unlocking Greenland's mineral potential, is pleased to announce the commencement of its 2025 exploration campaign.
Highlights
James Gilbertson, VP Exploration for Amaroq, commented:
'The launch of our 2025 exploration campaign marks one of the most ambitious and wide-ranging programmes in Amaroq's history. With active drilling at our flagship gold assets of Nalunaq and Nanoq, and regional work expanding our understanding of the copper, nickel, and rare earth elements opportunities; this season truly showcases the breadth of Greenland's mineral potential. It is incredibly exciting to see rigs and teams deployed from the southern fjords, all the way to our newest projects in the north and across the West Greenland Hub - a reflection of both our growing footprint and the multi-commodity opportunity we're pursuing.'
2025 Exploration Programme location, targets and detail
2025 Exploration Overview and Activity Plan
Gold Projects
Nalunaq gold mine
Following the announcement of the fourth Mineral Resource Estimate (MRE4) in April 2025, (including a maiden Indicated Resource and increased total Mineral Resources1), the exploration team has undertaken detailed planning to incorporate these results into both ongoing operations and the 2025 exploration programme.
In consultation with Bara Consulting, Amaroq plans to conduct an integrated programme of underground and surface exploration. Underground drilling will proceed almost continuously, focusing on expanding both the scale and confidence of the resource within the Mountain Block and Target Block areas.
At surface, the Company plans up to 3,500 metres of core drilling across the lower Target Block and the South Block Deeps - an area interpreted as a potential down-dip continuation of the Nalunaq Main Vein; looking to further de-risk the 1.7 million ounce Exploration Target.
Nanoq
The 2024 Nanoq drilling campaign returned encouraging high-grade results. Starting in late July 2025, Amaroq will conduct a comprehensive multi-rig drilling programme in order to evaluate the scale of the resource opportunity and advance towards defining a maiden Mineral Resource.
Equipment has been shipped from Denmark via Nalunaq, with arrival at the Nanoq site expected during the second half of July 2025. The planned programme includes approximately 5,000 metres of core drilling across the central zone, with additional exploratory drilling possible along the western extension. A 45-person camp and supporting facilities will be established near the drill sites, enabling core logging, cutting, and sampling on site. This approach provides flexibility to adapt the drill plan in real time as results are received.
Gold Satellite Projects
Field exploration and geological reconnaissance will be carried out across the Vagar and Anoritooq licences, targeting both historical gold occurrences and new prospects generated by Amaroq in previously unexplored areas. This work will build on structural interpretations from earlier field campaigns and aims to define targets with the potential to supply satellite feed to the Nalunaq Gold Mine.
Gardaq A/S - Strategic Minerals Projects (51% ownership through Gardaq Joint Venture)
Regional Copper Exploration
Advised by Dr. Steve Garwin, the team will advance copper focussed exploration at Ukaleq and additional targets within the Johan Dahl Land licence areas. This work will extend across the broader South Greenland Copper Belt, guided by remote sensing datasets and results from previous exploration campaigns, aiming to delineate epithermal or porphyry style mineralisation.
The programme retains flexibility to undertake scout drilling on one or more targets during 2025, contingent upon positive early results.
Stendalen and Regional Nickel Exploration
Building on 2025 exploration activities and new geophysical interpretations, Amaroq will carry out further ground assessments along with geological and structural mapping. These efforts will refine current models and define robust drill targets for 2026.
The team will also evaluate a series of regional copper-nickel sulphide targets identified across the broader licence portfolio.
Regional Rare Earth Elements ('REE') Exploration
Following the award of additional exploration licences focussed on REE mineralisation, Amaroq plans to expand regional exploration across the Gardar Igneous Province. Work will focus on assessing both confirmed and newly identified REE targets, with the aim of establishing the resource potential and scale of opportunity.
Minturn
Amaroq has applied for - and expects approval of - a new licence covering the Minturn IOCG (iron ore, copper, gold) target in Inglefield Land, Northwest Greenland. Upon confirmation, the Company intends to complete a reconnaissance visit to evaluate logistical considerations and collect a comprehensive suite of geochemical samples. These efforts will support detailed targeting and planning for the 2026 exploration season.
West Greenland Hub
Amaroq have commenced a review of the historical data of the Company's recently acquired assets in West Greenland: the former producing zinc, lead, silver mine at Black Angel, as well as the proximal Kangerluarsuk zinc/lead project. The aim of the review is to define the resource growth potential and re-development strategy for Black Angel. A reconnaissance visit to assess the condition of the on-site facilities, which include accommodation for a 20+person camp, helicopter hangers, cable car equipment, deep water harbour and mine infrastructure has taken place, with encouraging resource growth potential seen at both the Glacier and Deep Ice zones. Further assessments and planning will continue through the exploration season in preparation for a comprehensive exploration programme in 2026.
Enquiries:
Amaroq Ltd.
Eldur Olafsson, Executive Director and CEO
Ed Westropp, Head of BD and Corporate Affairs
+44 (0)7385 755711
ewe@amaroqminerals.com
Eddie Wyvill, Corporate Development
+44 (0)7713 126727
ew@amaroqminerals.com
Panmure Liberum Limited (Nominated Adviser and Corporate Broker)
Scott Mathieson
Nikhil Varghese
Freddie Wooding
+44 (0) 20 7886 2500
Canaccord Genuity Limited (Corporate Broker)
James Asensio
Harry Rees
+44 (0) 20 7523 8000
Camarco (Financial PR)
Billy Clegg
Elfie Kent
Fergus Young
+44 (0) 20 3757 4980
Further Information:
About Amaroq
Amaroq's principal business objectives are the identification, acquisition, exploration, and development of gold and strategic metal properties in South Greenland. The Company's principal asset is a 100% interest in the Nalunaq Gold mine. The Company has a portfolio of gold and strategic metal assets in Southern Greenland covering the two known gold belts in the region as well as advanced exploration projects at Stendalen and the Sava Copper Belt exploring for Strategic metals such as Copper, Nickel, Rare Earths and other minerals. Amaroq s continued under the Business Corporations Act (Ontario) and wholly owns Nalunaq A/S, incorporated under the Greenland Companies Act.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Inside Information
This announcement does not contain inside information.
1 Technical Report on the Updated Mineral Resource Estimate (MRE4) of the Nalunaq Gold Mine, Greenland, Bara Consulting (UK) Ltd, Effective Date, 12 May 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
27 minutes ago
- Business Wire
KBRA Comments on Colony Bankcorp, Inc.'s Proposed Acquisition of TC Bancshares, Inc.
NEW YORK--(BUSINESS WIRE)--On July 23, 2025, Fitzgerald, GA-based Colony Bankcorp, Inc. (NYSE: CBAN) ("Colony"), parent company of Colony Bank, and Thomasville, GA-based TC Bancshares (OTCQX: TCBC) ('TC Bancshares'), parent company of TC Federal Bank, jointly announced that they had entered into a definitive agreement pursuant to which TC Bancshares, Inc. would merge with and into Colony Bankcorp, Inc., and TC Federal Bank would merge with and into Colony Bank. The transaction, valued at $86.1 million (P/TBV: 1.1x), is 80% stock and 20% cash consideration and is expected to close in 4Q25 pending regulatory approval. Under the agreement, Greg Eiford, TC Bancshares' President and CEO, would be joining CBAN as an Executive VP and Chief Community Banking Officer. In our view, the proposed acquisition is in line with Colony's overall growth strategy of expansion into contiguous markets through both acquisitive and organic means. The transaction allows CBAN to expand its footprint in Georgia, notably, in Thomasville and the Savannah MSA, in addition to Tallahasse and Jacksonville, Florida, while providing solid opportunities for commercial growth and expansion of its fee-based business lines and continuing focus on its commitment to community banking. The acquisition is expected to add approximately $571 million in assets to CBAN's balance sheet at close, with proforma $3.8 billion in total assets, $2.4 billion in loans, and $3.1 billion in deposits, as well as adding 4 branch locations. The combined company's pro forma financial projections include strong profitability metrics following the close of the transaction, in part, due to expected cost savings of approximately 33% of TCBC's operating base. In addition to the cost savings, earnings should receive a temporary boost from accretion income, with CBAN reporting an estimated $13.3 million in interest rate marks on the loan portfolio. Regarding credit quality, both institutions have reflected solid asset quality performance over time, including nominal credit loss history, which is underpinned by disciplined underwriting and conservative management teams that have extensive knowledge of operating markets. The proforma loan portfolio is not expected to change materially as both institutions have complementary loan mixes, with investor CRE remaining the largest component at ~32% of total loans (including multifamily), followed by C&I (including owner-occupied CRE) at ~25%, and residential mortgage at 22%. CBAN conducted a review of the loan portfolio (67% of loans) and expects to record a total gross pre-tax credit mark of $4 million (1%) along with a Day 2 CECL adjustment of $2 million in relation to the transaction. With respect to deposit mix, TCBC maintains a deposit base concentrated in interest-bearing deposits resulting in somewhat elevated deposit costs of 2.45%. That said, NIB deposits are solid at 15% of total deposits as of 2Q25. Furthermore, Colony has managed solid capital metrics with a CET1 ratio of 12.3% at 2Q25, and management anticipates this ratio to improve to 12.5% at closing. Overall, we believe that the proposed acquisition complements CBAN's growth strategy, and while there is an inherent level of integration risk involved with any bank M&A transaction, such risk is somewhat mitigated by management's previous M&A integration experience. About KBRA KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions. Doc ID: 1010527
Hamilton Spectator
an hour ago
- Hamilton Spectator
Discovery Announces Details of Second Quarter 2025 Conference Call and Webcast
TORONTO, July 25, 2025 (GLOBE NEWSWIRE) — Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF) ('Discovery' or the 'Company') today announced that the Company will release its financial and operating results for the second quarter of 2025 prior to the market open on Tuesday, August 12, 2025. The Company will then host a conference call to review the results later that day, at 2:00 pm Eastern Time ('ET'). Those wishing to join the call can do so using the telephone numbers listed below. The call will also be webcast and available on the Company's website at . Conference Call Details Date: Tuesday, August 12, 2025 Time: 2 pm ET Conference ID: 4823292 Canada – Toronto: (647) 932-3411 Canada - Toll-Free: (800) 715-9871 USA / International Toll: +1 (646) 307-1963 USA - Toll-Free: (800) 715-9871 Webcast url: ABOUT DISCOVERY Discovery is a growing North American-focused precious metals company. The Company has exposure to silver through its first asset, the 100%-owned Cordero project, one of the world's largest undeveloped silver deposits, which is located close to infrastructure in a prolific mining belt in Chihuahua State, Mexico. On April 15, 2025, Discovery completed the acquisition of the Porcupine Complex from Newmont Corporation, transforming the Company into a new Canadian gold producer with multiple operations in one of the world's most renowned gold camps in and near Timmins, Ontario. Discovery owns a dominant land position within the camp, with a large base of Mineral Resources remaining and substantial growth and exploration upside. On Behalf of the Board of Directors, Tony Makuch, P. Eng President, CEO & Director For further information contact: Mark Utting, CFA SVP Investor Relations Phone: 416-806-6298 Email: Website:
Business Upturn
2 hours ago
- Business Upturn
Daron Acemoglu, Chris Bangle and Michele De Lucchi awarded the Ethic Award at the Oscar Pomilio Blumm Forum 'Happy Chaos? Rethinking Ethics in an Age of Global Change'
By GlobeNewswire Published on July 25, 2025, 21:45 IST From geopolitics to technology, from economics to architecture, the 2025 edition of the Oscar Pomilio Blumm Forum gathered three leading voices of the global debate at the Aurum in Pescara to reflect on the profound transformations reshaping our time. The event, titled 'Happy Chaos?', explored the systemic changes redefining institutions, society, and the very language of contemporary culture. The Forum awarded Daron Acemoglu, Chris Bangle, and Michele De Lucchi with the 2025 Ethic Award, in recognition of the ethical value of their contribution to society: individuals who, through research, design, and creativity, have expressed an original, deeply civic vision — capable of pointing to new directions. 'With this Forum, we wanted to explore the fractures of our time through the lens of three visionary minds,' said Franco Pomilio, President of Pomilio Blumm. 'The extraordinary participation and high level of debate confirmed that ethics can—and must—be the driving force behind innovation and global citizenship.' Daron Acemoglu: 'AI must empower people, not replace them' The Forum opened with Daron Acemoglu, Nobel Prize winner for Economics in 2024, professor at the Massachusetts Institute of Technology (MIT), and author of the landmark book Why Nations Fail , which argues that it is institutions—not geography or culture—that determine the prosperity or decline of nations. In his keynote, Professor Acemoglu focused on the concept of 'Remaking Liberalism', that is also the main topic of a book he is working on, and he warned of the dangers of artificial intelligence designed to replace human labor: 'The current model reinforces the power of elites and increases inequality. We need technology that is built to democratize opportunity.' He called for a new social contract to guide digital development: 'We can build tools that assist teachers, doctors, artisans, and citizens—but it requires democratic rules and long-term vision.' Chris Bangle: 'Design is pulling us away from ourselves' Next to speak was Chris Bangle, the American designer who transformed the aesthetics of BMW, MINI and Rolls-Royce, and is considered one of the most influential creatives of our time. Bangle offered a provocative reflection: 'We have built a world where good design means hiding the human hand. But this paradigm is consuming us.' He criticized the impersonal, algorithm-driven aesthetic, stating: 'The meaning of an object lies not only in its form or function, but in the human input behind it. If perfection is inhuman, then imperfection can become value.' Michele De Lucchi: 'Every project is an equation—and the unknown variable is humanity' The Forum concluded with Michele De Lucchi, the renowned Italian architect and designer, founder of AMDL CIRCLE, creator of the iconic Tolomeo lamp and of numerous international architectural projects. 'Today, architecture must be conceived as an environmental installation capable of responding to the unpredictable changes triggered by human beings,' he explained, presenting his personal 'equation' of design. De Lucchi reminded the audience that the role of the designer is not only to shape objects, but also to inspire behaviors, desires, and collective imagination. 'We can no longer design for eternity in a world that is changing so rapidly,' he stated. 'Architecture must be reimagined as something adaptable, sustainable, and deeply human.' Attachment Oscar Pomilio Forum 'Happy Chaos? Rethinking Ethics in an Age of Global Change' Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
