Conico Ltd.: MASSIVSULFID-LINSEN AUF CASCATA PROSPECT DURCHTEUFT

^
DGAP-News: Conico Ltd. / Schlagwort(e): Bohrergebnis
Conico Ltd.: MASSIVSULFID-LINSEN AUF CASCATA PROSPECT DURCHTEUFT (News mit
Zusatzmaterial)

24.09.2021 / 08:37
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.

---------------------------------------------------------------------------

ACN 119 057 457

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

24 September 2021

MASSIVSULFID-LINSEN AUF
CASCATA PROSPECT DURCHTEUFT


HIGHLIGHTS

- Das Bohrloch CADD001 auf dem neu entdeckten Grundstück Cascata ist
abgeschlossen und durchteufte vulkanisch-sedimentäre Einheiten, die an der
Oberfläche beginnen, sich bis zu 275 m in das Bohrloch hinein erstrecken und
Linsen mit Massivsulfid enthalten.

- Die bei Cascata angetroffene Geologie und das Vorhandensein von
feinkörnigen Linsen aus Massivsulfid stimmen mit der Interpretation überein,
dass es sich um ein vulkanogenes Massivsulfidvorkommen (VMS) handelt.

- Von 275 m Bohrlochtiefe bis zum Ende des Bohrlochs bei 407 m durchteufte
CADD001 auch ein geschichtetes Gabbrogestein, das auch im Aufschluss 6 km
weiter südlich sichtbar ist. Es handelt sich also um ein ausgedehntes
Gebiet, das eine neu identifizierte mafische Schichtintrusion mit Potenzial
für Edel- und Basismetalle darstellt.

- Die Bohrlöcher CADD002 bei Cascata und MIDD009 bei Miki sind abgeschlossen
und werden nun protokolliert.

- Die Feldaktivitäten bei Ryberg sind für die Saison 2021 beendet.

Conico Limited (ASX: CNJ) (Conico" oder das Unternehmen") und seine
hundertprozentige Tochtergesellschaft Longland Resources Ltd (Longland")
freuen sich bekannt zu geben, dass das erste Bohrloch auf dem neu entdeckten
Grundstück Cascata mehrere Linsen mit Massivsulfid durchteuft hat
(Abbildungen 1 bis 5). Die Bohrung wurde in 407 m Tiefe beendet, nachdem sie
von der Oberfläche aus 275 m vulkanisch-sedimentäre Einheiten durchteuft
hatte, die in Gabbro endeten (Abbildungen 6 und 7). Der Gabbro ist
geschichtet und sowohl lateral als auch vertikal ausgedehnt und stellt somit
eine neu entdeckte geschichtete mafische Intrusion dar, die für Edel- und
Basismetalle vielversprechend ist. Die Bohrlöcher CADD002 (Cascata) und
MIDD009 (Miki) sind beide abgeschlossen und werden gerade protokolliert
(Abbildungen 8 und 9). Die Aktivitäten in Grönland sind nun für die
Feldsaison 2021 beendet.

Guy Le Page, Executive Director von Conico, sagte:

"Das erste Bohrloch auf dem neu identifizierten Cascata-Prospekt ist sehr
ermutigend, da zahlreiche Linsen mit Massivsulfid angetroffen wurden, was
die Interpretation rechtfertigt, dass es sich bei Cascata um ein
VMS-Vorkommen handelt. In diesem Bohrloch wurde auch eine geschichtete
mafische Intrusion identifiziert, die ein Potenzial für Edel-,
Platingruppen- und Basismetalle aufweist. Die Feldsaison ist nun beendet;
die Aktivitäten laufen jedoch weiter, einschließlich der Protokollierung der
letzten beiden Bohrlöcher, der Erwartung der Untersuchungsergebnisse und der
Planung für die Feldsaison 2022."

Bohrloch CADD001 auf dem Prospektionsgebiet Cascata
Das erste Bohrloch CADD001 bei Cascata wurde an einer Stelle niedergebracht,
die hoch in der Sedimentabfolge angesiedelt ist, oberhalb der Stelle, an der
an der Oberfläche eine reichhaltige Sulfidmineralisierung beobachtet worden
war (Abbildung 8). Das Bohrloch wurde rechtwinklig zur Schichtung angelegt,
um die Stratigraphie schräg zu durchschneiden.

Von der Oberfläche bis 275 m unter der Bohrung durchteufte CADD001
abwechselnde vulkanische Sedimenteinheiten (VS), die über den
Gabbro-Lithologien abgelagert sind. Sulfidhaltige Schwarzschiefer überwiegen
in der VS-Sequenz und sind mit mafischen bis intermediären vulkanischen,
subvulkanischen und vulkanisch-klastischen Einheiten sowie mit Hornstein
durchsetzt und gelegentlich von Dolerit durchzogen. Hydrothermale Alteration
ist durch das Vorhandensein von Chlorit leicht erkennbar und steht meist in
Verbindung mit den mafischen Einheiten.

Die Sulfidmineralisierung ist in Form von diagenetischen Pyritknollen in der
oberen Abfolge der schwarzen Schiefer bis zu einer Tiefe von 155 m
anzutreffen, während in der unteren Abfolge unterhalb dieser Tiefe
hydrothermale disseminierte und massive Sulfidlinsen (mit einer Dicke von
bis zu 0,4 m) auftreten, bis bei 275 m der Kontakt mit dem Gabbro erreicht
wird (Abbildungen 1, 4 und 5). Die meisten Sulfidminerale in der unteren
Sequenz sind sehr feinkörnig und können ohne geochemische/mineralogische
Analyse nicht eindeutig identifiziert werden.

Der darunter liegende Gabbro beginnt an der Basis der VS-Sequenzen bei 275 m
Bohrlochtiefe und setzt sich bis zum Ende des Bohrlochs bei 407 m fort
(Abbildungen 3 und 6). Die vorherrschenden Minerale sind Plagioklas,
Magnetit, Ilmenit und Apatit, wobei die Schichtung mit zunehmender oder
abnehmender Menge dieser Minerale deutlich wird. Das Vorhandensein der
Oxidminerale Magnetit und Ilmenit zusammen mit Spuren von Sulfid in der
oberen Zone einer geschichteten mafischen Intrusion (LMI) wird häufig in
fraktioniertem Magma beobachtet. Zu den bekannten LMIs gehören die Chrom-
und Platingruppenmetallkomplexe des Stillwater-Komplexes in den USA, des
Bushveld-Komplexes in Südafrika und des Great Dyke in Simbabwe.

Zusammenfassung der Ryberg-Feldsaison 2021
Das Team kam am 15. Juli in Ryberg an und war bis zum 15. September vor Ort.
In dieser Zeit wurden Bohrungen auf drei Projekten niedergebracht: Miki,
Sortekap und die neu identifizierte Cascata mit einer Gesamtlänge von 3.480
m (Abbildung 2 und Anhang 1). Während der Feldsaison konnte an allen
Standorten eine sichtbare Sulfidmineralisierung identifiziert werden; die
Untersuchungsergebnisse werden nun erwartet.

Während der Feldsaison kam es zu keinen Verletzungen oder Zwischenfällen,
und die Bohrgeräte wurden vor Ort bei Ryberg gelagert, um einen frühen
Beginn im Jahr 2022 vorzubereiten. Für dieses Jahr war eine längere
Feldsaison geplant, die jedoch aufgrund von Verzögerungen bei der Ankunft
der Ausrüstung bzw. des Schiffes verkürzt wurde und aufgrund der Überreste
des Hurrikans Larry, der an der ostgrönländischen Küste vorbeizog und
leichte Schneefälle mit sich brachte, vorzeitig beendet wurde.

Der gesamte Bohrkern wird derzeit in eine sichere Einrichtung in Europa
gebracht, wo unter der Aufsicht von Longland-CEO Thomas Abraham-James
weitere Aufzeichnungen und Probenahmen durchgeführt werden. Alle Bohrkerne,
die bereits beprobt wurden, wurden an Labors in Australien und Europa
geschickt; die Ergebnisse werden voraussichtlich im vierten Quartal 2021
veröffentlicht.

Im Folgenden finden Sie eine Zusammenfassung der durchgeführten Bohrungen:

  Prospect  Holes Drilled  Metres Drilled  Geological target
  Miki            9           2,057      Magmatic sulphide
  Sortekap        3            833       Orogenic gold / magmatic sulphide
  Cascata         2            590       VMS / magmatic sulphide
Eine regionale magnetische und radiometrische Untersuchung aus der Luft
wurde ebenfalls von New Resolution Geophysics (NRG) aus Südafrika über den
Großteil des Ryberg-Lizenzgebiets geflogen (Abbildung 10). Dabei handelt es
sich um die erste regionale geophysikalische Untersuchung, die jemals bei
Ryberg durchgeführt wurde. Sie wurde in Ost-West-Richtung in einem Abstand
von 200 m geflogen und enthielt Infill-Linien in einem Abstand von 100 m bei
den Miki- und Sortekap-Prospekten. Die Daten werden derzeit von ExploreGeo
Pty Ltd in Perth interpretiert.

Vorgeschlagene Feldaktivitäten 2022
Das Unternehmen hat drei Bohrgeräte am Standort des Projekts Ryberg
behalten, um die Wiederaufnahme der Aktivitäten im Jahr 2022 vorzubereiten.
Es gibt auch Treibstoff vor Ort, so dass die Aktivitäten ohne ein
Versorgungsschiff beginnen können. Aufgrund früherer Erfahrungen in der
Region ist der Zugang im April möglich, und der Betriebsleiter des
Unternehmens, Höskuldur Jónsson, prüft derzeit die Möglichkeiten der
Mobilisierung und Unterbringung.

Zusätzliche Aktivitäten zur Ergänzung weiterer Bohrkampagnen werden in
Betracht gezogen, sobald die Untersuchungsergebnisse der Saison 2021
vorliegen und die regionale geophysikalische Untersuchung interpretiert
worden ist. Das Unternehmen beabsichtigt auch, zum Projekt Mestersvig
zurückzukehren und die dort identifizierte Edelmetall-, Basen- und Seltene
Erden-Mineralisierung in Verbindung mit einer weiteren Bewertung der
historischen Mine Blyklippen weiter zu bewerten.

Im Auftrag des Vorstands.


Guy T Le Page, F.FIN., M.Aus.IMM.
Executive Director


COMPETENT PERSONS STATEMENT

The information contained in this report relating to exploration results
relates to information compiled or reviewed by Thomas Abraham-James, a
full-time employee of Longland Resources Ltd. Mr. Abraham-James has a B.Sc.
Hons (Geol) and is a Chartered Professional (CPGeo) and Fellow of the
Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. Abraham-James
has sufficient experience of relevance to the styles of mineralisation and
the types of deposit under consideration, and to the activities undertaken
to qualify as a Competent Person as defined in the 2012 edition of the Joint
Ore Reserve Committee (JORC) "Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves". Mr. Abraham-James consents to
the inclusion in this report of the matters based on information in the form
and context in which it appears.

FORWARD-LOOKING STATEMENTS

This announcement contains forward-looking statements that involve a number
of risks and uncertainties. These forward-looking statements are expressed
in good faith and believed to have a reasonable basis. These statements
reflect current expectations, intentions or strategies regarding the future
and assumptions based on currently available information. Should one or more
of the risks or uncertainties materialise, or should underlying assumptions
prove incorrect, actual results may vary from the expectations, intentions
and strategies described in this announcement. No obligation is assumed to
update forward-looking statements if these beliefs, opinions, and estimates
should change or to reflect other future developments.

Annexure 1 - drill collar details for 2021 Ryberg drill-holes

    Hole ID Easting Northing  Elevation Dip Azimuth Length
    MIDD001 565,714 7,571,884   298m    -80   215   210.0m
    MIDD002 565,840 7,571,990   312m    -80   355   313.5m
    MIDD003 565,734 7,571,883   298m    -80   215   217.0m
    MIDD004 565,715 7,571,897   299m    -80   290   36.0m
    MIDD005 565,797 7,571,960   311m    -70   285   381.0m
    MIDD006 565,728 7,571,889   298m    -75   290   153.0m
    MIDD007 566,497 7,573,151   386m    -70   290   278.0m
    MIDD008 566,880 7,573,889   567m    -80   290   316.0m
    MIDD009 565,910 7,571,891   318m    -90   000   152.0m
    SODD001 567,481 7,601,155  1,319m   -80   355   287.0m
    SODD002 567,518 7,600,827  1,240m   -85   095   342.0m
    SODD003 567,496 7,600,712  1,203m   -70   290   204.0m
    CADD001 593,237 7,585,297   795m    -70   290   407.0m
    CADD002 593,325 7,585,287   830m    -70   290   183.0m
All coordinates are displayed in WGS84 UTM Zone 25N

Annexure 2

JORC Code, 2012 Edition
Section 1: Sampling Techniques and Data

   Cri-    JORC Code Explanation              Commentary
   te-
   ria
   Sam-    Nature and quality of sampling     * Sampling of CADD001,
   pli-    (e.g., cut channels, random        CADD002 & MIDD009 was
   ng      chips, or specific specialised     conducted using standard
   tec-    industry standard measurement      industry practices with
   hni-    tools appropriate to the           diamond drilling. Magnetic
   que-    minerals under investigation,      readings were taken using a
   s       such as down hole gamma sondes,    Reflex EZ-Trac and Reflex
           or handheld XRF instruments,       Gyro Sprint-IQ downhole
           etc.). These examples should       survey tool.
           not be taken as limiting the
           broad meaning of sampling.
           Include reference to measures      * Drill-holes CADD001 &
           taken to ensure sample             CADD002 were angled to
           representivity and the             obliquely intersect
           appropriate calibration of any     lithologies of interest.
           measurement tools or systems       MIDD009 was angled to
           used.                              intersect an electromagnetic
                                              target obliquely.
           Aspects of the determination of    * Mineralisation in
           mineralisation that are            drill-holes CADD001, CADD002
           Material to the Public Report.     & MIDD009 has not been
           In cases where 'industry           quantitively determined and
           standard' work has been done       is awaiting assay. The
           this would be relatively simple    determination in this report
           (e.g., 'reverse circulation        is qualitative, based on
           drilling was used to obtain 1 m    visual observation made by
           samples from which 3 kg was        the Competent Person who is a
           pulverised to produce a 30 g       geologist on site.
           charge for fire assay'). In
           other cases, more explanation
           may be required, such as where
           there is coarse gold that has
           inherent sampling problems.
           Unusual commodities or
           mineralisation types (e.g.,
           submarine nodules) may warrant
           disclosure of detailed
           information.
   Dri-    Drill type (e.g., core, reverse    * Wireline diamond drilling
   lli-    circulation, open-hole hammer,     using a 56.5mm diameter drill
   ng      rotary air blast, auger,           bit and standard tube. The
   tec-    Bangka, sonic, etc) and details    core has not been orientated
   hni-    (e.g., core diameter, triple or    but has been surveyed using
   que-    standard tube, depth of diamond    either a Reflex EZ-Trac
   s       tails, face-sampling bit or        multi-shot or Reflex Gyro
           other type, whether core is        Sprint-IQ tool. The drill rig
           oriented and if so, by what        is a CDI 500 heli-portable
           method, etc.).                     fly rig operated by
                                              Cartwright Drilling Inc.
   Dri-    Method of recording and            * Drill core from CADD001 has
   ll      assessing core and chip sample     been geotechnically logged
   sam-    recoveries and results             with core recovery measured
   ple     assessed.                          per drill core run (3m).
   re-                                        Holes CADD002 & MIDD009 are
   co-                                        yet to be logged.
   ve-
   ry
           Measures taken to maximise         * The drill crew was notified
           sample recovery and ensure         of the target depth and
           representative nature of the       likelihood of intersecting
           samples.                           sulphides, accordingly they
                                              eased pressure on the drill
                                              bit from that depth onward to
                                              minimise the chance of core
                                              destruction. All drill core
                                              was then placed in trays with
                                              lids to ensure that no core
                                              was lost during
                                              transportation from the drill
                                              site to core logging
                                              facility. The drill core was
                                              then reconstructed into
                                              continuous runs on an angle
                                              iron cradle by the geologist.
                                              Depths were checked against
                                              depths indicated on the core
                                              blocks.
           Whether a relationship exists      * Not applicable as no assays
           between sample recovery and        have been conducted to date.
           grade and whether sample bias
           may have occurred due to
           preferential loss/gain of
           fine/coarse material.
   Log-    Whether core and chip samples      *Drill core from CADD001 has
   gin-    have been geologically and         been geologically and
   g       geotechnically logged to a         geotechnically logged by a
           level of detail to support         qualified geologist to a
           appropriate Mineral Resource       level of detail that supports
           estimation, mining studies and     appropriate Mineral Resource
           metallurgical studies.             estimation, mining studies
                                              and metallurgical studies.
                                              CADD002 & MIDD009 are yet to
                                              be logged.
           Whether logging is qualitative     * The logging is qualitative.
           or quantitative in nature. Core    All drill core was
           (or costean, channel, etc.)        photographed.
           photography.
           The total length and percentage    * Drill-hole CADD001 has been
           of the relevant intersections      logged in full. CADD002 &
           logged.                            MIDD009 are yet to be logged.
   Sub-    If core, whether cut or sawn       * Drill-hole CADD001 has been
   -sa-    and whether quarter, half or       cut in half using a diamond
   mp-     all core taken.                    core saw blade.
   lin-
   g
   tec-
   hni-
   que-
   s
   and
   sam-
   ple
   pre-
   pa-
   ra-
   ti-
   on
           If non-core, whether riffled,      * Not applicable as the
           tube sampled, rotary split, etc    drill-hole is core.
           and whether sampled wet or dry.
           For all sample types, the          * Not applicable as no
           nature, quality and                sampling has been undertaken.
           appropriateness of the sample
           preparation technique.
           Quality control procedures         * Not applicable as no
           adopted for all sub-sampling       sampling has been undertaken.
           stages to maximise
           representivity of samples.
           Measures taken to ensure that      * Not applicable as no
           the sampling is representative     sampling has been undertaken.
           of the in-situ material
           collected, including for
           instance results for field
           duplicate/second-half sampling.
           Whether sample sizes are           * Not applicable as no
           appropriate to the grain size      sampling has been undertaken.
           of the material being sampled.
   Qua-    The nature, quality and            * Not applicable as no
   li-     appropriateness of the assaying    assaying has occurred.
   ty      and laboratory procedures used
   of      and whether the technique is
   ass-    considered partial or total.
   ay
   da-
   ta
   and
   la-
   bo-
   ra-
   to-
   ry
   tes-
   ts
           For geophysical tools,             * Downhole magnetic readings
           spectrometers, handheld XRF        were taken using a Reflex
           instruments, etc., the             EZ-Trac. Readings were taken
           parameters used in determining     every 3m at completion of
           the analysis including             drilling, with the survey
           instrument make and model,         beginning at bottom of hole
           reading times, calibrations        and working up. The tool
           factors applied and their          protruded beyond the drill
           derivation, etc.                   string by 3m to ensure no
                                              interference from the rods.
                                              The magnetic roll is 0 to 360
                                              with an accuracy of ±0.35 .
                                              The magnetic range is 0 to
                                              100,000 nT with an accuracy
                                              of ±50 nT.
           Nature of quality control          * Not applicable as no
           procedures adopted (e.g.,          sampling or assaying has
           standards, blanks, duplicates,     occurred.
           external laboratory checks) and
           whether acceptable levels of
           accuracy (i.e., lack of bias)
           and precision have been
           established.
   Ve-     The verification of significant    * Alternative company
   ri-     intersections by either            geologists have verified the
   fi-     independent or alternative         findings of the on-site
   ca-     company personnel.                 geologist.
   ti-
   on
   of
   sam-
   pli-
   ng
   and
   ass-
   ay-
   ing
           The use of twinned holes.          * Not applicable as no
                                              twinned holes have been
                                              drilled.
           Documentation of primary data,     * All logging data was
           data entry procedures, data        entered into a computer on
           verification, data storage         site, with daily backups
           (physical and electronic)          taken and stored on hard
           protocols.                         drives and the cloud.
           Discuss any adjustment to assay    * Not applicable as no
           data.                              assaying has occurred.
   Lo-     Accuracy and quality of surveys    * Drill-holes CADD001,
   ca-     used to locate drill holes         CADD002 & MIDD009 were
   ti-     (collar and down-hole surveys),    located using a handheld
   on      trenches, mine workings and        Garmin GPS with an accuracy
   of      other locations used in Mineral    of ±4m.
   da-     Resource estimation.
   ta
   poi-
   nts
           Specification of the grid          * UTM WGS84 Zone 25N.
           system used.
           Quality and adequacy of            * Topographic information was
           topographic control.               sourced from the Greenland
                                              Mapping Project (GIMP)
                                              digital elevation model (30m
                                              accuracy).
   Da-     Data spacing for reporting of      * Not applicable as the
   ta      Exploration Results.               drill-holes are targeting
   spa-                                       specific geological and
   cin-                                       electromagnetic targets.
   g
   and
   dis-
   tri-
   bu-
   ti-
   on
           Whether the data spacing, and      * Not applicable as the
           distribution is sufficient to      drill-holes are targeting
           establish the degree of            specific geological and
           geological and grade continuity    electromagnetic targets.
           appropriate for the Mineral
           Resource and Ore Reserve
           estimation procedure(s) and
           classifications applied.
           Whether sample compositing has     * Sample compositing has not
           been applied.                      been applied.
   Ori-    Whether the orientation of         * The strike and dip of
   ent-    sampling achieves unbiased         drill-holes CADD001 & CADD002
   ati-    sampling of possible structures    were designed to intersect
   on      and the extent to which this is    lithological units at an
   of      known, considering the deposit     adjacent angle, not along
   da-     type.                              strike. MIDD009 was designed
   ta                                         to intersect an
   in                                         electromagnetic target
   re-                                        obliquely. Therefore, the
   la-                                        sampling conducted by the
   ti-                                        drill-hole is considered
   on                                         unbiased.
   to
   geo-
   lo-
   gi-
   cal
   str-
   uc-
   tur-
   e
           If the relationship between the    * There are no known biases
           drilling orientation and the       caused by the orientation of
           orientation of key mineralised     drill-holes CADD001, CADD02 &
           structures is considered to        MIDD009.
           have introduced a sampling
           bias, this should be assessed
           and reported if material.
   Sam-    The measures taken to ensure       * The drill core is stored
   ple     sample security.                   onboard the Company's charter
   se-                                        vessel which is considered
   cu-                                        highly secure. It is then
   ri-                                        being transported to a secure
   ty                                         storage facility in Portugal
                                              via sealed shipping
                                              container.
   Au-     The results of any audits or       * No audits or reviews have
   dit-    reviews of sampling techniques     been carried out at this
   s       and data.                          time.
   or
   re-
   vie-
   ws


Section 2: Reporting of Exploration Results

   Cr-    JORC Code           Commentary
   it-    explanation
   er-
   ia
   Mi-    Type, reference     * The Ryberg Project is wholly within Mineral
   ne-    name/number,        Exploration Licences 2017/06 and 2019/38,
   ra-    location and        located on the east coast of Greenland. They
   l      ownership           are held 100% by Longland Resources Ltd, a
   te-    including           wholly owned subsidiary of Conico Ltd.
   ne-    agreements or
   me-    material issues
   nt     with third
   an-    parties such as
   d      joint ventures,
   la-    partnerships,
   nd     overriding
   te-    royalties,
   nu-    native title
   re     interests,
   st-    historical
   at-    sites,
   us     wilderness or
          national park
          and
          environmental
          settings.
          The security of     * The tenure is secure and in good standing
          the tenure held     at the time of writing. There are no known
          at the time of      impediments.
          reporting along
          with any known
          impediments to
          obtaining a
          licence to
          operate in the
          area.
   Ex-    Acknowledgment      * Previous work mentioned (2017 VTEM survey)
   pl-    and appraisal of    was planned and managed by Longland Resources
   or-    exploration by      Ltd, a wholly owned subsidiary of Conico Ltd.
   at-    other parties.      * Historic rock-chip sampling was conducted
   io-                        by Platina Resources Ltd and University of
   n                          Leicester.
   do-
   ne
   by
   ot-
   he-
   r
   pa-
   rt-
   ie-
   s
   Ge-    Deposit type,       * Deposit types: Magmatic & VMS. * Geological
   ol-    geological          setting: The project area is located within
   og-    setting and         the North Atlantic Igneous Province (NAIP), a
   y      style of            Tertiary volcanic centre that covered an area
          mineralisation.     of approximately 1.3 million km2 in
                              continental flood basalts (6.6 million km3 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.
   Dr-    A summary of all    * Refer to Annex 1.
   il-    information
   l      material to the
   ho-    understanding of
   le     the exploration
   In-    results
   fo-    including a
   rm-    tabulation of
   at-    the following
   io-    information for
   n      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    * This is not the case.
          of this
          information is
          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.
   Da-    In reporting        * Not applicable as no assays have been
   ta     Exploration         reported.
   ag-    Results,
   gr-    weighting
   eg-    averaging
   at-    techniques,
   io-    maximum and/or
   n      minimum grade
   me-    truncations
   th-    (e.g., cutting
   od-    of high grades)
   s      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     * Not applicable as no assays have been
          used for any        reported.
          reporting of
          metal equivalent
          values should be
          clearly stated.
   Re-    - These             * The geometry of the mineralisation with
   la-    relationships       respect to the drill-hole angle is not known.
   ti-    are particularly    All reported lengths are in reference to
   on-    important in the    down-hole length, true width not known.
   sh-    reporting of
   ip     Exploration
   be-    Results. - If
   tw-    the geometry of
   ee-    the
   n      mineralisation
   mi-    with respect to
   ne-    the drill hole
   ra-    angle is known,
   li-    its nature
   sa-    should be
   ti-    reported. - If
   on     it is not known
   wi-    and only the
   dt-    down hole
   hs     lengths are
   an-    reported, there
   d      should be a
   in-    clear statement
   te-    to this effect
   rc-    (e.g., 'down
   ep-    hole length,
   t      true width not
   le-    known').
   ng-
   th-
   s
   Di-    Appropriate maps    * Refer to Figures 2, 7 & 8.
   ag-    and sections
   ra-    (with scales)
   ms     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.
   Ba-    Where               * Not applicable as no assays have been
   la-    comprehensive       reported.
   nc-    reporting of all
   ed     Exploration
   re-    Results is not
   po-    practicable,
   rt-    representative
   in-    reporting of
   g      both low and
          high grades
          and/or widths
          should be
          practiced to
          avoid misleading
          reporting of
          Exploration
          Results.
   Ot-    Other               * Previous exploration results are detailed
   he-    exploration         in: Conico Ltd press release on the 11th of
   r      data, if            December 2020, entitled 'EM Survey Reveals
   su-    meaningful and      Highly Prospective Chonolith at Ryberg'.
   bs-    material, should    Conico Ltd press release on the 29th of July
   ta-    be reported         2020, entitled 'Conico to acquire East
   nt-    including (but      Greenland projects via acquisition of
   iv-    not limited to):    Longland Resources'. Holwell et al,
   e      geological          Mineralium Deposita, 2012, 47:3-21.
   ex-    observations;
   pl-    geophysical
   or-    survey results;
   at-    geochemical
   io-    survey results;
   n      bulk samples -
   da-    size and method
   ta     of treatment;
          metallurgical
          test results;
          bulk density,
          groundwater,
          geotechnical and
          rock
          characteristics;
          potential
          deleterious or
          contaminating
          substances.
   Fu-    The nature and      * Diamond drilling testing for lateral
   rt-    scale of planned    extensions of mineralisation, and large-scale
   he-    further work        step-out drilling.
   r      (e.g., tests for
   wo-    lateral
   rk     extensions or
          depth extensions
          or large-scale
          step-out
          drilling).
          Diagrams clearly    * Refer to Figures 2, 8, 9 & 10.
          highlighting the
          areas of
          possible
          extensions,
          including the
          main geological
          interpretations
          and future
          drilling areas,
          provided this
          information is
          not commercially
          sensitive.


---------------------------------------------------------------------------

Zusatzmaterial zur Meldung:

Datei:
https://eqs-cockpit.com/c/fncls.ssp?u=5b88a4b26294e2c19e8b1a500838699a
Dateibeschreibung: MASSIVSULFID-LINSEN AUF CASCATA PROSPECT DURCHTEUFT

---------------------------------------------------------------------------

24.09.2021 Veröffentlichung einer Corporate News/Finanznachricht,
übermittelt durch DGAP - ein Service der EQS Group AG.
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.

Die DGAP Distributionsservices umfassen gesetzliche Meldepflichten,
Corporate News/Finanznachrichten und Pressemitteilungen.
Medienarchiv unter http://www.dgap.de

---------------------------------------------------------------------------

   Sprache:        Deutsch
   Unternehmen:    Conico Ltd.

                   6000 Perth
                   Australien
   Internet:       www.conico.com.au
   EQS News ID:    1235753



   Ende der Mitteilung    DGAP News-Service
---------------------------------------------------------------------------

1235753 24.09.2021

°