CONICO LTD
reviews techniques and data. this time. Section 2: Reporting of Exploration Results
Criteria JORC Code explanation Commentary
Mineral Type, reference name/number, location and * The Ryberg Project is wholly within Mineral Exploration
tenement and ownership including agreements or Licences 2017/06 and 2019/38, located on the east coast of
land tenure material issues with third parties such Greenland. They are held 100% by Longland Resources Ltd, a
status as joint ventures, partnerships, wholly owned subsidiary of Conico Ltd.
overriding royalties, native title
interests, historical sites, wilderness
or national park and environmental
settings.
The security of the tenure held at the * The tenure is secure and in good standing at the time of
time of reporting along with any known writing. There are no known impediments.
impediments to obtaining a licence to
operate in the area.
Exploration Acknowledgment and appraisal of * Previous work mentioned (2017 VTEM survey) was planned and
done by other exploration by other parties. managed by Longland Resources Ltd, a wholly owned subsidiary
parties of Conico Ltd.
* Historic rock-chip sampling was conducted by Platina
Resources Ltd and University of Leicester.
Geology Deposit type, geological setting and * Deposit types: Magmatic & VMS.
style of mineralisation. * Geological setting: The project area is located within the
North Atlantic Igneous Province (NAIP), a Tertiary volcanic
centre that covered an area of approximately 1.3 million km^2
in continental flood basalts (6.6 million km^3 in volume),
making it one of the largest volcanic events in history.
Volcanism is associated with the opening of the North
Atlantic, and presence of a mantle plume (what is now the
Icelandic hotspot). The project area represents an erosional
interface where the flood basalts have been removed, revealing
the basement geology beneath. The project area is adjacent to
a triple junction (failed rift) and consists of Archaean
orthogneiss, Tertiary gabbro/flood basalt, and
Cretaceous-Tertiary sediments (rift valley basin).
Approximately 70% of the geology within the sedimentary basin
has been intruded by Tertiary sills that are feeders to the
overlying plateau basalts. There are also feeder dykes and
layered mafic intrusions - it is likely that there is also a
large ultramafic body present at depth, evidence for this is
in the form of ultramafic xenoliths brought to surface by
magma conduits.
* Style of mineralisation: magmatic copper and nickel
sulphides with appreciable cobalt, palladium and gold.
Drill hole A summary of all information material to * Refer to Annex 1.
Information the understanding of the exploration
results including a tabulation of the
following information for all Material
drill holes:
- easting and northing of the drill hole
collar
- elevation or RL (Reduced Level -
elevation above sea level in metres) of
the drill hole collar
- dip and azimuth of the hole
- down hole length and interception depth
- hole length.
If the exclusion of this information is * This is not the case.
justified on the basis that the
information is not Material and this
exclusion does not detract from the
understanding of the report, the
Competent Person should clearly explain
why this is the case.
Data In reporting Exploration Results, * Not applicable as no sampling or assaying has occurred.
aggregation weighting averaging techniques, maximum
methods and/or minimum grade truncations (e.g.,
cutting of high grades) and cut-off
grades are usually Material and should be
stated.
Where aggregate intercepts incorporate
short lengths of high-grade results and
longer lengths of low-grade results, the
procedure used for such aggregation
should be stated and some typical
examples of such aggregations should be
shown in detail.
The assumptions used for any reporting of * Not applicable as no sampling or assaying has occurred.
metal equivalent values should be clearly
stated.
Relationship - These relationships are particularly * The geometry of the mineralisation with respect to the
between important in the reporting of Exploration drill-hole angle is not known. All reported lengths are in
mineralisation Results. reference to down-hole length, true width not known.
widths and - If the geometry of the mineralisation
intercept with respect to the drill hole angle is
lengths known, its nature should be reported.
- If it is not known and only the down
hole lengths are reported, there should
be a clear statement to this effect
(e.g., 'down hole length, true width not
known').
Diagrams Appropriate maps and sections (with * Refer to Figures 1,4, 5, 6, 7 and 10.
scales) and tabulations of intercepts
should be included for any significant
discovery being reported These should
include, but not be limited to a plan
view of drill hole collar locations and
appropriate sectional views.
Balanced Where comprehensive reporting of all * Not applicable as no sampling or assaying has occurred.
reporting Exploration Results is not practicable,
representative reporting of both low and
high grades and/or widths should be
practiced to avoid misleading reporting
of Exploration Results.
Other Other exploration data, if meaningful and * Previous exploration results are detailed in:
substantive material, should be reported including Conico Ltd press release on the 11^th of December 2020,
exploration (but not limited to): geological entitled 'EM Survey Reveals Highly Prospective Chonolith at
data observations; geophysical survey results; Ryberg'.
geochemical survey results; bulk samples Conico Ltd press release on the 29^th of July 2020, entitled '
- size and method of treatment; Conico to acquire East Greenland projects via acquisition of
metallurgical test results; bulk density, Longland Resources'.
groundwater, geotechnical and rock Holwell et al, Mineralium Deposita, 2012, 47:3-21.
characteristics; potential deleterious or
contaminating substances.
Further work The nature and scale of planned further * Diamond drilling testing for lateral extensions of
work (e.g., tests for lateral extensions mineralisation, and large-scale step-out drilling.
or depth extensions or large-scale
step-out drilling).
Diagrams clearly highlighting the areas * Refer to Figures 1, 5 & 10.
of possible extensions, including the
main geological interpretations and
future drilling areas, provided this
information is not commercially
sensitive. -----------------------------------------------------------------------------------------------------------------------
Additional features: File: press release Conico Ltd.
-----------------------------------------------------------------------------------------------------------------------
2021-08-31 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
(MORE TO FOLLOW) Dow Jones Newswires
August 31, 2021 04:01 ET (08:01 GMT)
