Conico Ltd Provides Update on Drilling Results at the Ryberg Project on the East Coast of Greenland
and given the right structural environment and orientation of the dyke, has the potential to further concentrate these economic sulphides into an area of pooling. Future work will focus on identifying structural changes in the dyke that could accommodate sulphide aggregation to higher grades and thicknesses. SORTEKAP PROSPECT DETAIL AND DRILL ASSAYS: Drilling at Sortekap targeted induced polarisation (IP) chargeability and magnetic anomalies from 3D inversions of data collected in 2020 and 2021. Hole SODD004 intersected a zone of mineralisation in the footwall of a mafic dyke and the contact zone with the underlying gneiss, coincidental with an IP chargeability anomaly. Mineralisation included weakly disseminated and/or disseminated chalcopyrite with minor pentlandite. The presence of blebby textured sulphides, as well as chalcopyrite and pentlandite is very encouraging as this indicates the sulphides are magmatic and the magma system has the potential to further concentrate a dense metal-bearing sulphide liquid within the magma system. Hole SODD005 intersected the same mineralised zone along strike but assay results indicate weaker mineralisation. The style of dyke and mineralisation seen in SODD004 and SODD005 resemble that seen in drilling at the Miki Dyke prospect and on surface at the undrilled Togeda Prospect, approximately 11 km south of Sortekap. This suggests either a continuation of dyke structures between Togeda and Sortekap prospects or the presence of additional mineralised dykes
within the Ryberg Project.
Hole SODD006 intersected a new zone of quartz veins hosted in dolerite and amphibolite
within an anomaly from a 3D inversion model of the aeromagnetic data; assay results
indicate the zone to be associated with low-grade gold mineralisation.
Assay results from the 2022 Sortekap drilling include the following: SODD004: 3.28 m @ 0.41% Cu, 0.07% Ni, and 1.12 g/t 3E from 105.5 m; (Including 1.00 m @ 0.83% Cu, 0.11% Ni and 2.49 g/t 3E from 105.5 m); 1.40 m @ 0.07% Cu, 0.01% Ni, and 0.11 g/t 3E from 109.2 m & 1.00 m @ 0.17% Cu, 0.04% Ni, and 0.33 g/t 3E from 112.8 m & 1.10 m @ 0.06% Cu, 0.02% Ni, and 0.14 g/t 3E from 117.1 m. SODD005: No significant assays. SODD006: 5.57 m @ 0.15 g/t Au from 344.43 m & 2.00 m @ 0.11 g/t Au from 354 m &1.94 m @ 0.26 g/t Au from 383.2 m & 2.00 m @ 0.33 g/t Au from 387 m & 7.00 m @ 0.23 g/t Au from 395 m. While the mineralisation intercepted from the 2022 drilling is generally low grade, Conico
considers the season and new data collected to be a very successful outcome.
Intercepting magmatic sulphide-hosted Cu-Ni-PGE mineralisation, as well as identifying
previously unknown quartz vein-hosted gold mineralisation is a positive result for the season
and provides building blocks for further work. Mineralisation consisting of 3.28 m @ 0.41% Cu, 0.07% Ni, and 1.12 g/t 3E (including one
metre at 2.28 g/t Pd) intercepted by hole SODD004 in the mafic dyke at Sortekap, and
potential links to the mineralisation at the Togeda and Miki prospects are promising new
features at the Sortekap Prospect. Grades of up to 2.28 g/t Pd are encouraging as they
show the magma system to have potential to concentrate PGE-bearing magmatic
sulphides into economic grades. Future work will focus on identifying structural controls
on sulphide accumulation, a review of the multielement geochemistry now available,
and reassessment of the 2021 geophysical data in light of the 2022 drilling results.