Conico Ltd (ASX:CNJ) has successfully completed all field activities at Longland Resources Ltd’s Ryberg and Mestersvig Projects in Greenland.
Conico holds a conditional agreement to acquire 100% of Longland, which will be considered by shareholders at the general meeting scheduled on October 20, 2020.
Geophysics and sampling activities
The company has two teams, who were operating concurrently at Ryberg and Mestersvig, and the teams have achieved all objectives at both projects, with all personnel returning safely and no injuries or operational issues encountered.
Conico is expecting geophysics and sampling results to be received this or next month.
Exploration activities
Conico has completed ground gravity survey at the historical Blyklippen mine and Sortebjerg prospect.
The company has achieved a total of 2,344 gravity stations at a 50-metre spacing and 200 metres between lines, with surface rock chips collected and sent for analysis.
This includes a new occurrence of massive galena (lead sulphide) that has not been recorded before and is about 8.6 kilometres southeast of the historical Blyklippen mine workings.
A core storage facility was also identified that contains the majority of drill core drilled within the licence area, all of which are intended to be re-logged and sent for geochemical analysis.
Mestersvig licence granted
The Mestersvig licence in east Greenland has been granted and is now owned 100% by Longland.
The licence area contains the historical Blyklippen lead-zinc mine, which is the only mine to have been in production on the east coast of Greenland and produced 545,000 tonnes of ore grading 9.3% lead and 9.9% zinc.
Notable mineralisation was discovered outside of the licence area during the field season and application has been made to increase the size of the exclusive area.
Greenland has reacted proactively to the COVID-19 pandemic and granted all mineral licences in the country a one-year extension in term, and exemption from minimum expenditure for 2020.