Amaroq pours first gold at Nalunaq mine in Greenland
Amaroq Minerals (TSXV: AMRQ; LSE: AMRQ) has completed the first gold pour at its flagship Nalunaq gold mine in Greenland.
The pour took place on Wednesday, following approval of Phase 1 commissioning of the Nalunaq processing plant by the Greenlandic government. The initial gold pour at Nalunaq yielded 1.2 kg of gold after a ten-hour processing period.
The company said it will continue to optimize the processing plant during Phase 1 commissioning and aims to conduct a gold pour on a weekly basis. Phase 2 commissioning, incorporating the flotation circuit, is due to be completed in the second quarter of 2025.
Ramp-up to a steady state nameplate plant capacity of 260-300 tonnes per day at between 12-16 g/t gold is expected to take place later in the fourth quarter, Amaroq said, adding that it also plans to publish an updated mineral resource estimate for Nalunaq in the first quarter.
The past-producing Nalunaq mine was open between 2004 and 2013, producing more than 350,000 oz. of gold.
Amaroq acquired the project in 2015, and has since expanded the extent of the resource base through drilling, incorporating a new geological model (Dolerite Dyke).
Shares of Amaroq Minerals rose 2% by 12:10 a.m. EDT. The miner has a market capitalization of C$559 million ($399 million).