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    Conico intersects “significant” sulphide mineralisation from first hole at Ryberg Project, Greenland

    Shares in Conico Limited (ASX: CNJ) closed up over 67% on Monday after reporting that its wholly-owned subsidiary Longland Resources has intersected “significant” sulphide mineralisation from the first-ever drill hole at its Ryberg Project, located on the east coast of Greenland. The MIDD001 hole, designed to test a magmatic sulphide target, delivered the mineralisation between 78.24m to 133.12m downhole, for a total of 54.88m.

    “Significant” sulphide mineralisation

    Conico reports that sulphides are present in semi-massive, matrix, vein and disseminated forms, with preliminary work indicating that mineralisation may consist mostly of pyrrhotite and pentlandite, plus minor chalcopyrite.

    Drill core from MIDD001 is currently awaiting assay, with MIDD002 approaching completion and rigs established on holes MIDD003 and MIDD004 targeting the Miki Prospect.

    Drill core from hole MIDD001 displaying sulphide mineralisation
    Drill core from hole MIDD001 displaying sulphide mineralisation

    Ryberg Project

    The 4,521km² Ryberg Project is comprised of the Miki Prospect (Cu-Ni-Co-Pd-Au) and the Sortekap Prospect (Au-Ni). Surface samples have included 2.2% Cu, 0.8% Ni, 3.3g/t Pd and 0.15 g/t Au from Miki, along with 2.7 g/t Au and 0.33% Ni from Sortekap.

    “I take tremendous satisfaction in the first ever drill-hole to occur at Ryberg encountering significant sulphide mineralisation”

    Management comments

    Longland Resources CEO Thomas Abraham-James said: “I would like to start by saying thank you to the shareholders and directors of Conico for putting their faith in Longland Resources when they acquired the company last year. We are a greenfields exploration company in a location far from Australia, they saw what I did in the potential of our Greenland assets. I take tremendous satisfaction in the first ever drill-hole to occur at Ryberg encountering significant sulphide mineralisation.”

    Images: Conico Limited
    Jonathan Norris
    Jonathan is a founder of Mining.com.au and has been covering the resources industry since 2018. With over 17 years experience in print, broadcast and online media, Jonathan has seen first hand the transformative effect of online niche media.

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    • Delayed Prices (USD) - Last Updated 01-07-2022
    • Gold $1,819.00
    • Silver $20.75
    • Platinum $916.00
    • Palladium $1,898.00
    • Dalian Iron Ore i2209 $121.63
    • Aluminium $2,491.00
    • Cobalt $72,460.00
    • Copper $8,365.50
    • Lead $1,971.00
    • Nickel $23,158.00
    • Tin $26,800.00
    • Zinc $3,333.00