Secondly, this year in Greenland, Conico will be in very good company i.e. KoBold Metals will also be driiling this summer at their Disko-Nuussuaq project area (although this area is in West Greenland). KoBold Metals has a 51 percent stake in the Disko-Nuussuaq project (the project is run by London-based company Bluejay Mining). Bluejay Mining estimates that the area may contain a substantial deposit of minerals similar to that found in Norilsk, Russia, which is currently home to the world’s largest nickel/copper sulphide mine.
Here is a link to this very recently published announcement:
"Bezos and Gates-Backed Mining Company Prepares to Drill in Greenland"
From the above announcement : “The objective is to target massive nickel, copper, cobalt and platinum group metals,” said Bluejay Mining Chief Executive Bo Steensgaard to Reuters in an interview. Steensgaard also stated that Russia’s war on Ukraine and subsequent alienation from the West has demonstrated that Western companies need to develop new metals deposits". This quote speaks volumes IMHO! And it is all good news for Conico!
Against this very rosy outlook, if Conico does come up trumps within their Ryberg and Mestersvig tenements over the coming 6 months, they will be in great shape (and at exactly the right time), to become a potential major supplier of raw materials, to for example, Europe's largest carmakers who need such materials in order to realise their ambitious electric vehicle strategies (in order to close the gap with their US rival Tesla).
IMHO, the results of Conico's own 2021 drill program at Ryberg have already highlighted the potential for nickel and copper, as well as Platinum group metals. In this regard, it would appear that TAJ (based on the new EM and other data collected in 2021), has now decided to concentrate Conico's further drilling campaign at the Miki, Sortekap and Pyramid prospects (now clearly high-priority targets). In this regard, Cascata seems to have a fallen off the list of these high-priority targets, which is probably good news i.e. TAJ obviously sees far better chances of a major discovery at the Miki, Sortekap and Pyramid prospects (more bang for shareholders bucks!).
It is worth pointing out at this juncture, that Conico will probably need only one major discovery at Miki, Sortekap or Pyramid in order to send the SP significantly higher. In this regard, I think the odds look pretty damn good that Conico will come up trumps at at least one of these prospects. If they do, I am sure that the aforementioned London-based Bluejay Mining (amongst others) will be very interested in talking to TAJ/Conico.
Turning to Mestersvig, which I see as the consolation prize (but still very important in the overall scheme of things), in my opinion it is almost a given that strike extensions from the old Blyklippen mine will hit high-grade zinc and lead mineralisation (these extensions have already been identified by Conico at the Sortebjerg and Nuldal prospects in 2020). At both of these prospects, the mineralised structure is open at depth and at the Nuldal prospect, there are surface mineralised vein outcrops. Therefore, IMHO, it is really only a matter of whether the tonnages also exist and at a shallow enough depth i.e. if yes, this will ensure that at least one of these prospects can be quickly further developed as a mine (IMHO probably under a JV agreement, with a major miner doing all the heavy lifting).
With regard to the potential value of the Sortebjerg and Nuldal prospects, I found the following fairly recent article very relevant:
"A major Greenland zinc mine is bigger than first thought, owner says"
Given that between 1956-1962, 545,000 tonnes of ore were mined at Blyklippen (at 9.3% Pb and 9.9% Zn), Conico could already be sitting on a very valuable future asset. Particularly given today's much higher lead and zinc prices.
The plot thickens (or the mineral reserves?).
Cheers.
CNJ Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
(20min delay)