LONDON (ShareCast) - (Sharecast News) - Amaroq reported the discovery of high-grade rare earth element (REE) mineralisation at its Nunarsuit licence area in South Greenland on Tuesday, marking the company's first confirmed REE occurrence and a significant expansion into critical minerals exploration.
The AIM-traded miner said surface grab samples from the Ilua Pegmatite Zone within the Nunarsuit licence returned grades of up to 2.31% total rare earth oxides (TREO).

Assay results showed an average composition of 27% heavy and 73% light rare earth elements, with 21% comprising key magnet metals such as neodymium, praseodymium, dysprosium and terbium.

The discovery area lies within South Greenland's Gardar Igneous Province, which the European Commission's Joint Research Centre estimated may host up to 20% of global REE resources.

Amaroq said the province was also home to major deposits including Kvanefjeld and Tanbreez.

It said initial fieldwork suggests a broad pegmatite system several metres wide and striking roughly five kilometres, with potential for multiple parallel structures to be assessed during the 2026 exploration season.

The mineralisation was believed to be predominantly hosted within monazite, a conventional rare earth ore mineral associated with lower uranium content, potentially offering simpler processing routes than more complex mineral systems elsewhere in Greenland.

"The confirmation of high grade REE's on our licence area is very good news and we are extremely encouraged by these initial results, which marks the first entry of Amaroq into the REE space in Greenland," said James Gilbertson, Amaroq's vice president of exploration.

"The fact that the REE mineralisation appears to be hosted in low uranium, 'traditional' minerology is particularly encouraging; Amaroq believe that the host is likely to be a well-understood rare earth ore mineral monazite, that typically lends itself to conventional extraction and processing techniques."

He added that the potential discovery built on the firm's expertise in defining resources and mine development in the region, while diversifying into critical minerals at a time of rising global demand for such resources.

"Our team is looking forward to unlocking the full value of this potential discovery with further work and scout drilling in 2026, and we are optimistic that Nunarsuit's rare earth potential could add significant shareholder value alongside our existing projects."

Amaroq said its technical team was planning to conduct detailed sampling, mineralogical studies and geophysical surveys to evaluate the scope and economic potential of the Ilua Pegmatite Zone before launching a scout drilling campaign in spring 2026.

The work would form part of the company's broader non-gold exploration programme through its Gardaq joint venture in South Greenland.

Amaroq said the Nunarsuit intrusive complex, which spans about 16 by 27 kilometres, had seen limited historical exploration for rare earths despite academic reports noting its prospective geology.

It added that the Ilua discovery reinforced the region's strategic importance as a potential new source of critical minerals amid surging global demand for REE supply security.

At 1505 GMT, shares in Amaroq were down 0.85% at 81.3p.

Reporting by Josh White for Sharecast.com.

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