Conico Ltd (ASX:CNJ) has applied for two new exploration licences in East Greenland, adding the Kai rare earths project and Lilloise gold-platinum group elements (Au-PGE) project to its regional portfolio.
The applications sit adjacent to Conico’s 100%-owned Ryberg Project and, if granted, would lift the company’s Greenland landholding to about 6,460 square kilometres, making it one of the largest landholders in East Greenland.
Overview of the Kai, Ryberg, and Lilloise Projects in Eastern Greenland.
Kai targets hard-rock rare earths
Kai covers an 862-square-kilometre licence application over a roughly 33-kilometre-wide alkaline intrusion, a geological setting known globally for rare earth element mineralisation. Conico says the project has not been subject to systematic modern REE-focused exploration.
The company believes the project has potential to host mineralisation analogous to globally recognised alkaline REE systems, with identified REE-bearing minerals including perovskite, titanite, apatite and eudialyte-group minerals.
Executive chairman Guy Le Page said the Kai Project represented a potentially significant REE system that had been overlooked historically.
"The Kai Project is one of the most overlooked large alkaline systems in the North Atlantic Igneous Province. This is potentially a REE system of significant scale that has never been subject to modern, REE-focused exploration, providing Conico with a first-mover advantage. The Lilloise Intrusion is equally compelling, with geology comparable to the nearby Skaergaard Intrusion, that hosts over 25 million ounces of palladium equivalent2. Historical work here was reconnaissance-only, and the company believes that systematic mapping and geophysics has the potential to identify another world-class Skaergaard-style target.
"Greenland's outstanding geology and growing strategic importance make it the right jurisdiction to build a critical minerals portfolio. Combined with our existing Ryberg and Mestersvig projects, these applications give Conico high-quality exposure to critical and precious metals across a large and highly prospective landholding.”
Lilloise adds precious metals exposure
The 390-square-kilometre Lilloise application is prospective for magmatic Au-PGE mineralisation and contains a layered ultramafic intrusion about 10 kilometres wide.
Conico says the geology shares similarities with the nearby Skaergaard Intrusion, one of Greenland’s best-known PGE-Au systems, although the company cautioned that nearby deposits do not guarantee similar outcomes on its own ground.
Historical work at Lilloise was limited to reconnaissance campaigns in the 1980s, with no drilling completed and no modern geophysical surveys undertaken across key target horizons.
Why Greenland matters
Conico said Greenland was emerging as a globally significant jurisdiction for critical minerals, particularly rare earths, as western governments seek supply alternatives outside China.
The company highlighted Greenland’s established legal framework, supportive permitting regime and growing strategic importance in the global critical minerals supply chain.
Conico also pointed to improving regional infrastructure, including development of a new international airport at Ittoqqortoormiit, near the company’s Mestersvig Project.
Expanding a district-scale portfolio
The new applications strengthen Conico’s broader East Greenland strategy, centred on the Ryberg Project, which is prospective for copper, nickel, cobalt, gold and platinum group elements.
Ryberg already hosts several identified magmatic sulphide and gold targets and benefits from access to deep-water fjords, an airstrip and proximity to Iceland.
Summary of Conico's existing and pending Greenland projects.
Next steps
Subject to licence grants, Conico plans to undertake modern geological mapping, geophysics and sampling programs across both projects to generate drill targets.
The company said the largely underexplored nature of the projects provided an opportunity to apply modern exploration techniques in an area with demonstrated mineral endowment.