Amaroq (LSE:AMRQ) on Monday unveiled a "String of Pearls" development strategy for its Maarmorilik project in West Greenland, alongside new high-grade exploration results from surrounding zinc-lead-silver and critical metal deposits.
The London and Nasdaq Iceland-listed company, which is building a multi-asset mining business in Greenland around its producing Nalunaq gold mine, said channel and rock chip sampling at targets named Garde, Wedge, Glacier and Myers had returned zinc grades as high as 62.2%, alongside lead, silver and the critical metals germanium and gallium.
Garde delivered a channel sample of 3.1 metres at 17.49% zinc, 8.08% lead and 36 grammes per tonne silver, with 159.2 parts per million gallium and 107.5 parts per million germanium, while rock chip results there reached 62.2% zinc.
Wedge returned 4.1 metres at 10.05% zinc, 0.5% lead and 5 g/t silver with 181.5 ppm gallium, and rock chips up to 26.8% zinc with 517 ppm gallium.
Glacier and Myers produced rock chip results up to 32.2% zinc and 30.6% zinc respectively, each carrying double-digit lead grades and tens of grammes per tonne silver.
Massive lead-zinc sulphides were mapped over 350 metres at Garde and 180 metres at Wedge, with both targets remaining open at surface and prioritised for resource drilling in 2027.
Amaroq acquired the West Greenland Hub assets, which include the past-producing Black Angel mine at Maarmorilik, for $10.5m last year.
The String of Pearls concept aims to bring Black Angel and the Nunngarut ore body together with the newly identified surrounding deposits, exposed as ice cover has retreated, into a single coordinated mining and infrastructure plan that also targets the high-grade Archangel Zone, previously known as the Deep Ice Zone.
"The 'String of Pearls' development concept is specifically designed to exploit the value already contained within the existing MRE over the area, whilst capturing the latent potential from multiple newly identified areas surrounding the existing infrastructure," said chief executive Eldur Olafsson, adding that the company is "working towards our target of multi-asset production within Greenland."
Maarmorilik project manager Will Gray drew a comparison with Sweden's Garpenberg mine, which processed ore averaging approximately 3% zinc, 1.3% lead and 96 g/t silver in 2025, while cautioning that the exploration samples are not directly comparable with mine head grades.
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Amaroq submitted Project Terms of Reference for Maarmorilik to the Government of Greenland on 30 October, the first step toward the Environmental Impact Assessment and Social Impact Assessment processes that precede an exploitation licence.
Drilling equipment has been mobilised and stored on site ahead of an early start to the 2027 resource expansion programme, and WSP Denmark is supporting environmental baseline work toward the EIA.
Separately, WSP is reviewing Maarmorilik's historical mineral resource estimate of 3.7m tonnes, together with a further approximately 700,000 tonnes of historically identified mineralised material, with the aim of establishing an updated, NI 43-101 compliant estimate and a separate Exploration Target to guide the String of Pearls strategy.
The Maarmorilik news follows a run of operational progress at Nalunaq, where Amaroq's flotation circuit lifted recoveries to around 90% in July and the company hit its 12,000-ounce third-quarter production target a quarter early, as it works toward full-year guidance of 25,000 to 35,000 ounces.