Welcome!

News Feed Item

Greenland Resources Inc. Announces Technical Report on Storo Project

TORONTO, ONTARIO -- (Marketwired) -- 08/13/14 -- Greenland Resources Inc. ("Greenland Resources" or the "Company") is pleased to announce the filing of a technical report entitled, "A 43-101 Technical Report on the Storo Gold Project, Greenland" dated July 30, 2014, by Mr. Johan Bradley, FGS, CGeol, EurGeol, Principal Geologist at SRK Consulting (Sweden) AB. The technical report has been filed on SEDAR.

In the report, SRK presents the compiled data from current and previously-completed mapping, rock- and sediment-sampling, geophysical surveying, mineral processing, metallurgical testing and diamond drilling at the Storo Gold Project, including 86 drill holes totalling 15,375 m drilled since 1995. SRK concludes that gold mineralisation with economically interesting grades occurs within the Storo licence area that warrant further work.

SRK has endorsed the Company's proposed initial exploration budget of USD $2,000,000 for the 2014 and 2015 field seasons, which includes 2,000 m of shallow-hole infill drilling in the Main Zone area to allow for generation of a Mineral Resource estimate ("MRE"), as well as undertaking a Preliminary Economic Assessment ("PEA") using the results of the MRE as a basis to assess the potential of mining near-surface mineralisation at Storo by open pit methods; as well as further drilling to explore the downward extension of the NE plunging Main Zone mineralization. SRK considers the QAQC data supporting the project to be acceptable.

Dr. Ruben Shiffman, Chairman stated: "We are continuously working on paths that aim to increase shareholders value. We have initiated an engineering study to assess the cost of a small scale near-term open pit mine as a preliminary step towards a PEA. Also, we aim to drill the extension of the downward-plunging structure to increase our resource. So far, we have received positive interest from investors to finance our project."

About the Storo Gold Project

The Storo Gold Project is located in the Nuuk Fjord area of southwest Greenland, some 40 km northeast of the capital city of Nuuk (Godthab). The Storo exploration licence is held by Copenhagen Minerals Inc., a wholly owned subsidiary of Greenland Resources and comprises a total area of 49 km2. Since 1995, a total of 86 drill holes totaling 15,375 meters have been drilled by previous owners. The Storo Gold Project is located nearby the publicly traded companies "Hudson Resources' (TSX VENTURE:HUD), London Mining's (AIM:LOND) and North American Nickel (TSX VENTURE:NAN).

The gold prospects in the Nuuk Fjord area are located in the strongly deformed and metamorphosed rocks of Archean age. The area is an extension of the North American Craton and is suggested to correlate with the Nain Region in Labrador, Canada. At the Storo Gold Project there are two levels of mineralization, the Main Zone and the BD Zone. Both zones are situated within the Qingaaq Mountain and are up to 12m thick with 10-50m wide low grade alteration halos. The main focus of Greenland Resources's exploration is the Qingaaq Mountain area in the southwest of the licence. The Main Zone occurs in an antiformal fold in the upper amphibolite unit and consists of auriferous quartz veins in garnet and biotite alteration zones up to 50m thick. Surface rock grab samples have returned up to 82.3 g/t Au (Sample RGC106916) in this area with common visible gold in both surface and drill core samples. The Main Zone has been traced to 150 m below the surface in drill holes and gold grades in drill samples range up to 52g/t Au over 2m (DDH05-05 47m-49m). The BD Zone occurs lower, on the contact between biotite-sillimanite-garnet gneiss and the upper amphibolites and gold occurs mainly in quartz-veined, arsenopyrite-bearing zones along the contact and in both rock types up to 20m away from the contact. Gold grades in drill core samples range up to 15 g/t Au over 10m (DDH 10-54 39m-49m). The BD zone has been followed along strike for 700-800 m with channel samples that returned up to 22g/t Au over a true width of 1.8m (Sample RCH213061). The mineralization has been traced to nearby Aappalaartoq Mountain situated 4 km to the NE from Qingaaq Mountain. On Aappalaartoq surface samples return up to 25.6 g/t Au (RGB212942) in situ and 46.4 g/t in scree (SCS111358).

Selected intercepts of the auriferous zones below Qingaaq Mountain comprise but are not limited to: 20m of 6.3g/t Au (DH95-03); 12m of 4.2g/t Au (DH05-01); 23.9m of 6.4g/t Au (DH05-05); 12.1m of 5.6g/t Au (DH06-32); 28.8M of 6.74g/t Au (DH10-54). True width is likely to be less than the apparent intercept depending on the orientation of the mineralized structures. Au grade = weighted average (total length(i)total grade/total length).

Mr. Johan Bradley, FGS, CGeol, EurGeol, Principal Geologist at SRK Consulting (Sweden) AB and a Qualified Person under National Instrument 43-101 has approved the technical information in this press release.

About Greenland Resources

Greenland Resources is a Canadian public company regulated by the Ontario Securities Commission, focused on the acquisition, exploration and development of properties for the mining of gold and other minerals in Greenland. The main exploration project is the Storo Gold Project, a high grade gold deposit owned 100% by Greenland Resources. With offices in Toronto and in Copenhagen, Greenland Resources is led by a management team with over 25 years of exploration and mining experience. For further details, please refer to our web site (www.greenlandresources.ca) as well as our Canadian regulatory filings on SEDAR at www.sedar.com.

CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding the estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, the availability of financing, the timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates including the costs of operations in remote mountainous environments, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Contacts:
Greenland Resources Inc.
Ruben Shiffman
Chairman
+1 647 273 9913

Greenland Resources Inc.
Jesper Kofoed
President & CEO
+1 647 273 9913

Greenland Resources Inc.
Gary Anstey
Investor Relations / Business Development
+1 647 273 9913

Greenland Resources Inc.
Corporate office
Suite 507, 80 Richmond St. West, Toronto, Ontario, Canada
M5H 2A4
www.greenlandresources.ca

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of companies worldwide-from publishers and broadcasters, to enterprises, marketing agencies and household-name brands. Building on its established design leadership, Adobe enables customers not o...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your ...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...