The ammassalik PROSPECT

Transcription

1 The ammassalik PROSPECT Komatiite hosted Nickel-copper-pge mineralisation In southeast Greenland (Contained within exclusive license 2012/26) The Ammassalik project comprises exclusive mineral rights covering 84 km 2 in a widely unexplored segment of the Palaeoproterozoic Nagssugtoqidian Orogen in East Greenland. Historic exploration on Ammassalik Island has led to the discovery of numerous showings of nickel-copper-pge rich sulphide mineralisation over a distance of 8-9 kilometres along strike within the fragmentized Siportoq supracrustal sequence. Promising new showings discovered up to 30 kilometres away in neighbouring supracrustal segments increases the target for exploration to be traceable for more than 75 kilometres. Project highlights The Ammassalik region represents the continuation of the Trans-Hudson and Torngat orogens into Greenland. Genetic resemblance to world class deposit areas such as Thompson, Raglan and Pechenga Ni-Cu-PGE sulphide mineralisation is associated with ultrabasic rocks (locally komatiitic) and graphite-rich supracrustals of the Siportoq sequence Mini-bulk sampling from Main Mineralisation at Ammassalik Island return 1.39% Ni, 0.46% Cu and 0.3 ppm PGE (Pt-dominated; tenor values of 4.76% Ni and 1.56% Cu) Surface sampling at Qorqortoq at Ammassalik Island returns up to 1.51% Ni, 0.23% Cu and 216 ppb Au+PGE (tenor values of 3.58% Ni and 0.80% Cu) MMI survey and boulder sampling indicates continuity between isolated sulphide lenses at Qorqortoq Bay Drill program outlined at Ammassalik Island in order to test the Main Mineralisation and Qorqortoq targets Untested new mineralisation (c.1% Ni) at Kitak 30 kilometers west of Ammassalik Island representing the continuation of sulphide mineralised sequence. Large upside potential for new discoveries. License area is excellent sited next to the coastal town of Tasiilaq with daily flights to the west coast and Iceland Infrastructure and Geological Setting The Ammassalik region is located in Southeast Greenland next to the coastal town of Tasiilaq, which is the most populous community in East Greenland with c inhabitants. Tasiilaq has daily flight connections to Iceland and other parts of Greenland and a modern harbour with frequent cargo and shipping connections served by Royal Greenland. The geography is characterised by coastal mountains with elevations from 1000 to 2000 meters height, which are intersected by numerous large deep-water fjord systems. However, more gentle glaciated terrain exists in the interior western parts of the license area. The weather is mild with average temperatures in the summer period of 5-10 C. Ammassalik is part of the Palaeoproterozoic Nagssuqtoqidian orogen of East Greenland [ Ma] that formed in the collision zone between two parts of a previously broken up (rifted) Archaean continent. The present shape of the region comprises a 300 kilometers wide belt of Archaean gneisses and reworked Palaeoproterozoic supracrustal and magmatic rocks. The license area is centered around the so called Ammassalik Intrusive Complex [c Ma], which comprises a suite of polyphase plutonic rocks [dioritic and more basic components] that intruded into metasedimentary and interleaved ultrabasic rocks known as the Siportoq supracrustals comprising various graphite-garnet rich paragneisses and -schists, marbles, undifferentiated amphibolites, metagabbros and metaperidotites/-pyroxenites the latter locally of komatiitic nature. Regarded as having been a coherent sedimentary sequence, the Siportoq supracrustals were later subjected to Proterozic regional deformation including tight isocline folding and south directed thrusting. Disrupted fragments of the sequence now occur scattered over significant parts of the Ammassalik region with individual strike lengths of up to 75 kilometers.

2 Geological map of the Ammassalik region and coastal stretch of southeast Greenland. The license area is located next to Tasiilaq within Palaeoproterozoic supracrustal rocks. Historic exploration within the license area Despite the easy approach to Tasiilaq, the Ammassalik region has seen limited exploration activities. Historic indications of elevated nickel were not investigated until the mid-90s where the Greenlandic exploration company NunaOil A/S initiated a regional sediment sampling and reconnaissance program. During the following years several locations hosting orthomagmatic Ni-Cu-PGE mineralisation were discovered, mainly along the south coast of Ammassalik Island with the Main Mineralisation as the most promising discovery. Indications of gold mineralisation were also observed in many places throughout the region. In 2003, the Ni-Cu-PGE potential was investigated again by the Danish company PF&U who joint ventured the project with Diamond Fields Int., Canada. At Ammassalik Island a sulphide discovery at Qorqortoq Bay extended the mineralisation 2,5 kilometres to the east and boulder tracing indicated that massive sulphides could be found for up to 25 kilometres along strike. Geological mapping demonstrated that Ni-Cu-PGE-bearing sulphides primarily were associated with ultramafic rocks in close proximity to the Siportoq supracrustal sequence. Imbricate thrusting suggested that the mineralised sequence was repeated forming multiple layers of Ni-Cu-PGE occurrences. In addition, a 2000 line kilometre EM/Mag geophysical survey was completed in 2004 covering the south coast of the Ammassalik Island. In 2005 Diamond Fields Int. & PF&U joint ventured the project with INCO who had noticed the geological resemblance to the nickel camps in Thompson and Raglan of Canada. However, a short drill program at Ammassalik Island failed to intersect any significant mineralisation due to misinterpretation of the mineralised structure. Having worked with the project in the 90s, NunaMinerals A/S [the former NunaOil A/S] picked up the license where Inco had left in An MMI soil sampling survey at Qorqortoq indicated that isolated sulphide outcrops were combined under the coastal scree zones and additional channel and mini-bulk sampling were carried out where possible. Furthermore, a new discovery on Kitak 30 kilometres west of Ammassalik Island added significant upside potential to the region.

3 Mineralisation Main Mineralisation: Ni-Cu-PGE-bearing sulphide mineralisation occurs at numerous locations along the south coast of the Ammassalik Island forming a discontinuous outcrop pattern almost nine kilometers long. The Main Mineralisation is the most well exposed lens and can be followed on surface for meters with widths from one to eight meters. The present sulphide outcrop covers app. 440m 2. The mineralised lens is striking 310 and dipping 70 NE with an isocline fold axis plunging 127 /38. Mineralisation is hosted by serpentinised ultramafic rocks and comprises semi-massive sulphides (30-50%) forming a matrix/network texture in the host rock. Ore minerals include pyrrhotite, cobalt-rich pentlandite, chalcopyrite and subordinate magnetite and pyrite. Extensive gossan formations make it difficult to collect fresh samples, however, minibulk sampling blasted from one meters depth returned grades of 1.39% Ni, 0.46% Cu and 0.3 ppm PGE (Pt-dominated) with average tenor values of 4.76% Ni and 1.56% Cu. Locally, channel samples return up to 2.78 ppm PGE (Pt dominated). Qorqortoq: A few kilometers east of the Main Mineralisation semi-massive sulphide mineralisation crops out at the Qoqortoq Bay area. Due to extensive scree cover exposure is limited. However, boulder tracing and MMI profile sampling indicates that mineralisation is continuous. Surface sampling at Qorqortoq returns up to 1.51% Ni, 0.23% Cu and 216 ppb Au+PGE with average tenor values of 3.58% Ni and 0.80% Cu. Kitak: Supracrustal rocks are widespread in the Ammassalik region and in 2007 limited reconnaissance work was carried out in the Kitak area 30 kilometers west of Ammassalik Island. Here, topography is gentler and surface sampling returned up to 0.8% Ni and 0.4% Cu with nickel tenors above 4%. Considering the unexplored nature of the region it is believed that the Kitak area has a large upside potential for additional discoveries. Gneiss u Float SEM 1, SEM 2 & SEM meter Ref. 16a Gneiss, banded Diatexite Amphibolite, banded Komatiite Komatiite, serpentinized Pyroxenite - mono-mineralic diopside Marble w. diopside Calcite fillings Ore, Matrix-sulphide Ore. Matrix-sulphide, crumply Ore, Matrix-sulphide, copper-rich Scree A3 / , Ref. 7 Ref y127 /38 A2 / Ref Ref METER 15 Ref Geological map of the Main Mineralisation outcrop. The mineralised gabbroic lens (shown in dark brown colours) is located within Siportoq supracrustals and plunges down a steep gully from right to left. Sample numbers are shown in black.

4 Channel sampling of sulphide mineralisation within Siportoq supracrustals at Ammassalik Island, Recommendation for future work Suggested exploration work includes the following stages: Stage 1 I. S-isotope studies on sulphide material from both ultramafic and metasedimentary rocks to investigate the provenance of sulphur in the mineralizing system (sedimentary and/or magmatic sources). A sedimentary or mixed source of sulphur will definitely open up the prospectivity for the entire region as a nickel province II. Systematic reconnaissance, channel sampling and lithostratigraphical mapping of sulphide mineralised sequences in the Kitak sub-area, where nickel mineralisation was identified during helicopter reconnaissance in 2007 Stage 2 III. Test- and continuity drilling of known mineralisation targets defined by surface rock and MMI sampling on Ammassalik Island (Main Mineralisation, Qorqortoq Bay) IV. If indicated by S-isotope studies, reconnaissance exploration in supracrustal sequences north of Ammassalik Island Tentative Budget Stage 1 Stage 2 Total [including 10 pct. for unforeseen expenses]... EUR 150, 150,000 Total [including 5 pct. for unforeseen expenses]... EUR 550, 550,000

5 Key Factors VOISEY S BAY JINCHUAN KAMBALDA DULUTH PECHENGA AMMASSALIK Olivine- rich magma YES Troctolite Fo50-65 YES harzburgite & dunite Fo84 YES komatiitic lavas Fo90-95 YES Troctolite Fo50-65 YES Peridotite cumulates YES - Komatiitic rocks Fo83-88 Prominent Crustal Suture Uncertain role of Abloviak shear zone is not established YES continental margin YES? NNW faults YES Lake Superior Rift YES Perchenga Varzuga zone YES? (continent collision zone) Source of Sulfur in country rock YES Tasiuyak Gneiss NOT Established YES underlying sediments YES Virginia formation YES Enclosing shales YES underlying Siportoq supracrustal association Chalcophile depletion YES Olivine gabbro, feeder troctolite NOT Established YES on a regional scale NOT Established NOT Established YES on a regional and local scale Interaction with Country Rocks YES Basal Breccia sequence and chemical data YES Sm-Nd isotopes and inherited zircons YES chemical data YES Visual and chemical YES elevated values of γos Unknown Magma Conduit YES Thickened zones in feeder sheet and entry of sheet to intrusion YES funnel shaped feeder YES lava channels NO sulphides appear to have formed insitu YES difference in γos between ore and sill rocks Unknown Comparison of key criteria from selected global Ni-Cu-PGE deposits with the Ammassalik prospect

6 Delimitation of Exclusive licence no. 2012/26 W038.5 W W038 W W037.5 W W037 W KITAK AMMASSALIK ISLAND N kilometres Tasiilaq - Kulusuk Airport W038.5 W W038 W W037.5 W W037 W W038.5 W W038 W W037.5 W W037 W KITAK AMMASSALIK ISLAND N kilometres Tasiilaq - Kulusuk Airport W038.5 W W038 W W037.5 W W037 W Red polygons outline mafic-ultramafic spectral signatures as interpreted from ASTER remote sensing data.