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Conico (ASX:CNJ) - Chairman, Greg Solomon
Chairman, Greg Solomon
Source: Business News
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  • Conico’s (CNJ) subsidiary, Longland Resources, has signed a contract with Cartwright Drilling for work at the Ryberg Project in Greenland
  • Longland will undertake drilling at the Miki and Sortekap prospects to target magmatic gold, nickel, cobalt and copper sulphides
  • Three rigs will move to site in June and drill a minimum of 5000 metres with work set to begin in July
  • According to the company, the rigs could potentially stay on site over the winter period to allow an early start for the next season
  • Conico has ended the day 3.70 per cent in the green with shares trading at 2.8 cents

Conico’s (CNJ) subsidiary, Longland Resources, has signed a contract with Cartwright Drilling for work at the Ryberg Project in Greenland.

Longland will undertake drilling at the Miki and Sortekap prospects.

Three rigs will move to site in June and will drill a minimum of 5000 metres with the possibility for more.

The rigs can potentially stay on site over the winter period to allow an early start for the next season.

Miki Prospect

At the Miki Prospect, three electromagnetic (EM) geophysical targets will be tested that range from a depth of 80 metres to 200 metres below surface.

Previous surface rock-chip sampling has returned up to 2.2 per cent copper, 0.8 per cent nickel, 0.1 per cent cobalt, 0.2g/t gold and 3.3g/t palladium.

Diamond drilling is set to begin in July to target magmatic copper-nickel-cobalt-palladium-gold sulphides.

Sortekap Prospect

Diamond drilling at Sortekap will also begin in July to test previously identified induced polarisation targets.

Sulphide-bearing veins are present at the target, which also contain gold and nickel-bearing ultramafics.

Previous rock-chip sampling returned up to 2.7g/t gold and 0.3 per cent nickel.

Conico has ended the day 3.70 per cent in the green with shares trading at 2.8 cents in a $22.46 million market cap.

CNJ by the numbers
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