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APPROVAL GIVEN FOR GREENLAND FIELD SEASON ACTIVITIES AND ALL CONTRACTS SIGNED

·3-min read

DGAP-News: Conico Ltd. / Key word(s): Miscellaneous
28.04.2021 / 11:00
The issuer is solely responsible for the content of this announcement.

ASX ANNOUNCEMENT 28 April 2021

Conico Limited (ASX: CNJ) ("Conico" or "the Company") through its 100% owned subsidiary Longland Resources Limited ("Longland") received notification on the 23rd of April that full approval for activities at the Ryberg and Mestersvig Projects in Greenland (figure 1) has been issued by the Ministry of Mineral Resources. In addition, all contracts have been signed and mobilisation of equipment to the staging point in Reykjavik, Iceland has commenced.

Activities will commence in May 2021, and consist of:

Ryberg Project

- Diamond drilling at:

- The Miki Prospect (magmatic sulphide Cu-Ni-Co-Pd-Au), following up on surface geochemistry grading up to 2.2% copper, 0.8% nickel, 0.1% cobalt, 3.3g/t palladium & 0.2g/t gold and conductors from 2 x electromagnetic surveys acquired in 2017 & 2020 (refer to CNJ ASX announcement on 10 Dec 2020 for more details).

- The Sortekap Prospect (orogenic Au & magmatic sulphide Ni-Co-Pt), following up on surface geochemistry grading up to 2.7g/t gold & 0.33% nickel and a significant Induced Polarisation (IP) anomaly identified in 2020 (refer to CNJ ASX announcement on 22 Dec 2020 for more details).

- Licence-wide high-resolution aeromagnetic survey

Mestersvig Project

- Licence-wide high-resolution aeromagnetic survey

- Sampling of rare earth element (REE) and base metal sulphide bearing rocks (refer to CNJ ASX announcement on 28 Jan 2021 for more details).

Longland CEO Thomas Abraham-James said "This is a very big year for us, the news flow will be significant and a very exciting time for the Company and our shareholders. We will be conducting a maiden drill program at the Ryberg Project which has outstanding potential for in-demand battery and precious metals, while also gathering high-resolution magnetic survey data across the entirety of the Ryberg and Mestersvig Projects."

Figure

Figure 1. Location map for Conico's Greenland Projects in relation to the staging point in Reykjavik, Iceland.

Longland personnel intend to travel to Greenland in May to meet with officials in the capital Nuuk, then transit to Mestersvig where they will spend approximately 10 days sampling and mapping known rare earth element (REE) and base metal sulphide occurrences on the recently enlarged licence area. Previous explorers noted the presence of the REE-bearing minerals xenotime and mosandrite within the Werner Bjerge Alkaline Complex.

For the entire news release please refer to Conico's website:
https://asx.api.markitdigital.com/asx-research/1.0/file/2924-02367953-6A1030155?access_token=83ff96335c2d45a094df02a206a39ff4


28.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Conico Ltd.

Perth

Australia

EQS News ID:

1189905


End of News

DGAP News Service

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