Amaroq Pours First Gold at Nalunaq Mine
November 28 2024 - 2:00AM
UK Regulatory
Amaroq Pours First Gold at Nalunaq Mine
Reykjavík, Nov. 28, 2024 (GLOBE NEWSWIRE) --
(“Amaroq Minerals” or the
“Company”)
Amaroq Pours First Gold at Nalunaq
Mine
TORONTO, ONTARIO – 28 November
2024 – Amaroq Minerals Ltd. (AIM, TSXV, NASDAQ
Iceland: AMRQ), an independent mine development company with a
substantial land package of gold and strategic mineral assets
in Southern Greenland, is delighted to announce it has
completed the first gold pour at its cornerstone Nalunaq gold mine
in Greenland on 27 November 2024.
Highlights
- On November 26, 2024, the
Government of Greenland approved the Phase 1 Commissioning of the
Nalunaq plant, which has since been operated at its nameplate
capacity.
-
The first gold pour at Nalunaq took place on November 27, 2024,
producing 1.2 kilograms (39 troy ounces) of gold after a 10-hour
processing period.
-
The Company will continue to optimise the processing plant during
Phase 1 Commissioning and aims to conduct a gold pour on a weekly
basis.
Next steps
- Phase 2 Commissioning,
incorporating the flotation circuit, is due to complete in Q2
2025.
-
Ramp-up to a steady state nameplate plant capacity of 260-300
tonnes per day of material between 12-16 g/t Au is expected to take
place in Q4 2025.
-
An updated Mineral Resource Estimate (MRE4) for Nalunaq is expected
to be published in Q1 2025.
Eldur Olafsson, CEO of Amaroq Minerals,
commented:
“I would like to thank my colleagues and the
team on the ground who have worked tirelessly throughout the
construction and commissioning to deliver first gold on time,
maintaining a strong safety record – this is a remarkable
achievement for Amaroq and our partners.
“First Gold Pour at the Nalunaq mine
signifies a major step on our journey, triggering initial cash flow
generation. As Nalunaq transitions from being a cost centre to a
cash generator, our focus turns to resource, mine life extension
and further exploration to unlock the full mineral potential of our
Greenland portfolio.
“Throughout this, we remain focused on the
sustainable delivery of our projects, working closely with the
local community, and delivering our purpose of creating a
Greenlandic legacy.
“I would also like to thank our local
community, the Greenlandic government, and our shareholders for
their ongoing support.”
A video of the first gold pour is available to
watch at the below link:
https://youtube.com/shorts/YsHlvluY3lc
Enquiries:
Amaroq Minerals Ltd.
Eldur Olafsson, Executive Director and CEO
eo@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
Kieron Hodgson
+44 (0) 20 7886 2500
Canaccord Genuity Limited (Corporate
Broker)
James Asensio
Harry Rees
Tel: +44 (0) 20 7523 8000
Camarco (Financial PR)
Billy Clegg
Elfie Kent
Fergus Young
+44 (0) 20 3757 4980
For Corporation updates:
Follow @Amaroq_Minerals on X (Formerly known as Twitter)
Follow Amaroq Minerals Ltd. on LinkedIn
Further Information:
About Amaroq Minerals
Amaroq Minerals' 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 Minerals is
continued under the Business Corporations Act (Ontario) and wholly
owns Nalunaq A/S, incorporated under the Greenland Public 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.
Amaroq Minerals (LSE:AMRQ)
Historical Stock Chart
From Nov 2024 to Dec 2024
Amaroq Minerals (LSE:AMRQ)
Historical Stock Chart
From Dec 2023 to Dec 2024