Greenland Resources Inc.
Greenland Resources is a Canadian public company regulated by the Ontario Securities Commission, focused on the acquisition, exploration and development of high-grade late-stage gold exploration properties. The main exploration project is the Storø Gold Project, a high grade gold deposit owned 100% by Greenland Resources (GRI), located some 40 km northeast of the capital city of Nuuk. The Storø exploration licence comprises a total area of 66 km2. Since 1995, 86 drill holes totalling 15,375 metres have been drilled by previous owners and during March and April 2015 GRI drilled another 13 holes totalling 1,755 m. With offices in Toronto and in Copenhagen, Greenland Resources is led by a management team with extensive track record in the mining industry and capital markets.
At the Storø Gold Project, there are at least two levels of mineralization. Both are situated within the Qingaaq Mountain and are up to 12m thick with 10-50m wide low-grade alteration halos. The focus of Greenland Resources’s has thus far been on the higher grade Main Zone. The Main Zone occurs in an antiformal fold in an amphibolite unit and consists of auriferous quartz veins in garnet and biotite alteration zones up to 50m thick. Surface rock grab samples have returned up to 82.3 g/t Au (Sample RGC106916) in this area with common visible gold in both surface and drill core samples. The Main Zone has been traced for more than 400m laterally, and from surface to 150 m below the surface in drill holes. Gold grades in drill core samples range up to 52g/t Au over 2m (DDH05-05 47m-49m) and 15 g/t Au over 10m (DDH 10-54 39m-49m). The mineralization continues below nearby Aappalaartoq Mountain situated 4 km to the NE from Qingaaq Mountain. On Aappalaartoq Mtn. surface samples return up to 25.6 g/t Au (RGB212942) in situ and 46.4 g/t in scree (SCS111358). The purpose of the current drilling program has been to trace the lateral continuation of the Main Zone below the valley connecting the two mountains.
Selected intercepts of the auriferous zones below Qingaaq Mountain comprise but are not limited to: 20m of 6.3g/t Au (DH95-03); 12m of 4.2g/t Au (DH05-01); 23.9m of 6.4g/t Au (DH05-05); 12.1m of 5.6g/t Au (DH06-32); 28.8m of 6.74g/t Au (DH10-54).
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