CONICO LTD
If non-core, whether riffled, tube sampled, rotary * Not applicable as the drill-holes are core.
split, etc and whether sampled wet or dry.
For all sample types, the nature, quality and * Not applicable as no sampling has been
appropriateness of the sample preparation technique. undertaken.
Quality control procedures adopted for all * Not applicable as no sampling has been
sub-sampling stages to maximise representivity of undertaken.
samples.
Measures taken to ensure that the sampling is * Not applicable as no sampling has been
representative of the in-situ material collected, undertaken.
including for instance results for field duplicate/
second-half sampling.
Whether sample sizes are appropriate to the grain * Not applicable as no sampling has been
size of the material being sampled. undertaken.
Quality of The nature, quality and appropriateness of the * Not applicable as no assaying has occurred.
assay data assaying and laboratory procedures used and whether
and the technique is considered partial or total.
laboratory
tests
For geophysical tools, spectrometers, handheld XRF * Downhole magnetic readings were taken using a
instruments, etc., the parameters used in determining Reflex EZ-Trac. Readings were taken every 3m at
the analysis including instrument make and model, completion of drilling, with the survey beginning
reading times, calibrations factors applied and their at bottom of hole and working up. The tool
derivation, etc. protruded beyond the drill 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 procedures adopted (e.g., * Not applicable as no sampling or assaying has
standards, blanks, duplicates, external laboratory occurred.
checks) and whether acceptable levels of accuracy
(i.e., lack of bias) and precision have been
established.
Verification The verification of significant intersections by * Consultants utilised by the Company have verified
of sampling either independent or alternative company personnel. the findings of the on-site geologists.
and assaying
The use of twinned holes. * Not applicable as no twinned holes have been
drilled.
Documentation of primary data, data entry procedures, * All logging data was entered into a computer on
data verification, data storage (physical and site, with daily backups taken and stored on hard
electronic) protocols. drives and the cloud.
Discuss any adjustment to assay data. * Not applicable as no assaying has occurred.
Location of Accuracy and quality of surveys used to locate drill * Drill-holes MIDD007 & SODD001 were located using
data points holes (collar and down-hole surveys), trenches, mine a handheld Garmin GPS with an accuracy of ±4m.
workings and other locations used in Mineral Resource
estimation.
Specification of the grid system used. * UTM WGS84 Zone 25N.
Quality and adequacy of topographic control. * Topographic information was sourced from the
Greenland Mapping Project (GIMP) digital elevation
model (30m accuracy).
Data spacing Data spacing for reporting of Exploration Results. * Not applicable as the drill-holes are targeting
and specific geological and IP targets.
distribution
Whether the data spacing, and distribution is * Not applicable as the drill-holes are targeting
sufficient to establish the degree of geological and specific geological and IP targets.
grade continuity appropriate for the Mineral Resource
and Ore Reserve estimation procedure(s) and
classifications applied.
Whether sample compositing has been applied. * Not applicable as no sampling has occurred.
Orientation Whether the orientation of sampling achieves unbiased * The strike and dip of drill-holes MIDD007 &
of data in sampling of possible structures and the extent to SODD001 were designed to intersect geological and
relation to which this is known, considering the deposit type. IP targets (respectively) at an adjacent angle, not
geological along strike. Therefore, the sampling conducted by
structure the drill-hole is considered unbiased.
If the relationship between the drilling orientation * There are no known biases caused by the
and the orientation of key mineralised structures is orientation of drill-holes MIDD007 & SODD001.
considered to have introduced a sampling bias, this
should be assessed and reported if material.
Sample The measures taken to ensure sample security. * The drill core is stored onboard the Company's
security charter vessel which is considered highly secure.
Audits or The results of any audits or reviews of sampling * No audits or reviews have been carried out at
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 type: Magmatic.
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 (MORE TO FOLLOW) Dow Jones Newswires
August 18, 2021 03:40 ET (07:40 GMT)
