Profile

NunaMinerals is the leading exploration company active in Greenland, currently holding 8 exploration licences covering approximately 6,800 km2. The company is widely regarded as the premier gold explorer in Greenland, but holds a diverse exploration portfolio incorporating precious, base and critical metals as well as diamonds.

The objective of NunaMinerals is to develop and utilize Greenland’s natural mineral resources on a commercial basis. The success criterion of the Company is to create value for its shareholders.

NunaMinerals’ exploration is aimed at developing projects with a view to building a profitable business with income from co-ownerships of mines, royalties from mining operations and sales of projects. The Company’s work has in the recent years resulted in, amongst other things, the discovery, development and start-up of Greenland’s first gold mine (the Nalunaq Gold Mine), which now have been sold.

With its key employees and knowledge databases, NunaMinerals possesses extensive expertise in exploration and in-depth knowledge of Greenland’s geological history and exploration, relevant exploration methods, and logistic conditions in Greenland.

In practice, the NunaMinerals exploration process is a series of progressive phases in which advancement from one phase to the next is conditional on continued verification of a positive assessment of the commercial potential of the mineralization after deduction of likely exploration costs.

Properties

Nanortalik gold province:
Numerous gold occurrences, including the Nalunaq gold mine, have been found within 17 km of a major 175 km long NE-trending break that represents the boundary of the younger granitic Julianehab Batholith to the north with older metamorphosed sedimentary and volcanic rocks to the south. The Company’s Vagar and Hugin licences straddle this highly prospective corridor at its southwest end (the Niaqornaarsuk Peninsula) and at its northeast end (the Kangerluluk occurrence) respectively.

Ymer:
The Ymer licence is located in the Central North-East Greenland, approximately 300 km north of the town of Illoqqortoormiut, 115 km north of Mestersvig Airfield and 200 km south of Zackenberg science station and Daneborg weather station. The area is being serviced by ice class vessels of Royal Arctic Line on an annual basis.

The geology of Ymer area belongs to the East Greenland Caledonides and the host rocks of the tungsten-antimony project belong to the Upper Proterozoic Eleonore Bay Group. Tungsten and antimony occur as replacement type mineralisation at proximal and distal positions to heat sources that created the mineralising hydrothermal activities.

Distal type scheelite and stibnite mineralisation occur at Margeries Dal in silicified lensoid breccias zones in the central part of a graben-like fault structure. Nordisk Mineselskab A/S drilled 18 holes totalling 2000 metres during the 1980’ and intersected lenses with high grade mineralisation at South Margeries Dal (SMD) and North Margeries dal (NMD).


Qeqertaasaq REE prospect:

The Qeqertaasaq prospect is situated within a Jurassic (165 Ma) carbonatite complex, approximately 130 km NNE of Nuuk, and 55 km East of the town of Maniitsoq. NunaMinerals now consider Qeqertaasaq as a multi-element critical elements deposit, with the potential for producing rare earth elements (REE), niobium (Nb) and tantalum (Ta), with important potential bi-products including phosphorous (P), strontium (Sr), zirconium (Zr) and zinc (Zn).

Surface sampling and trenching have yielded up to 13.2 % Total Rare Earth Oxides (TREO) within late-stage carbo-hydrothermal REE-veins dominated by the rare earth mineral, ancylite-(Ce). Subsequent drilling by NunaMinerals in 2011 demonstrated that the REE-veins are up to 4.5 % TREO over 4.7 metres, and strike lengths in excess of 450 metres, tested to depths in excess of 200 metres. Several such veins are known to exist, and soil sampling has indicated the presence of further concealed REE and Nb mineralisation within the immediate vicinity.

Previous explorers had focussed upon the phoscorite-hosted niobium mineralisation, also in the core of the carbonatite complex which yields grades up to 11.8 % Nb2O5 and 20.5% P2O5. A resource of 3.5 million tonnes at 0.5 % Nb2O5 was defined based upon a limited drill program. This mineralisation remains open, and the potential for additional tonnage is significant.

However besides the phoscorite-hosted Nb mineralisation, NunaMinerals has been successful in locating an additional style of Nb mineralisation, which has significant Ta and U content. Historical float samples corresponding to this style of mineralisation have yielded exceptional grades up to 1% Ta2O5; hence represent a tantalum exploration target in their own right. A number of untested uranium anomalies exist within the complex, over which NunaMinerals has recently demonstrated significant Nb and Ta soil anomalies. Further work to test these targets is planned.

Inglefield Land copper-gold project:
Inglefield and Minturn licenses, totalling 5,343 km² - covering the majority of Inglefield Land are situated in North West Greenland, 115 km north of the town of Qaanaaq. Qaanaaq is the largest community in the area, fully serviced by public amenities including an airport.

Inglefield Land is underlain by the Palaeoproterozoic Inglefield mobile belt, consisting of high metamorphic grade gneisses and marbles belonging to the Etah Group. These have been intruded by Etah meta-igneous suites and in the coastal region overlain by sediments of the Thule Basin and the Franklinian Basin.

Inglefield-Minturn Copper-Gold Project is an early stage exploration project with significant upside potential. To date, only limited sampling has been undertaken. However, from the limited work conducted, potentially ore grade copper-gold (Cu-Au) samples are known to exist with historic grab samples yielding up to 1.28 % Cu and 15.6 g/t Au.

Office Address

NunaMinerals A/S
Postboks 790
DK-3900 Nuuk
Greenland

Ph: +299 36 20 00
Fax: +299 36 20 10

E-mail: info@nunaminerals.com

nunaminerals.com/en/about-us.html

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