Amaroq reports high-grade re-assay results from Black Angel
By Josh White
Date: Tuesday 11 Nov 2025
(Sharecast News) - Amaroq said in an update on Tuesday that new re-assay results from its Black Angel mine in Greenland confirmed exceptionally high-grade zinc, lead and silver mineralisation, alongside the newly identified presence of strategic critical minerals germanium, gallium and cadmium.
The AIM-traded company also announced that it had fulfilled all conditions precedent related to the acquisition of the Black Angel mine, with final government approval for associated Kangerluarsuk licences expected in the fourth quarter.
Re-assayed bulk samples from within the Black Angel deposit returned average grades of 24.6% zinc, 28.1% lead and 295 grams per tonne of silver.
Commercially significant concentrations of critical minerals were also detected, averaging 44 parts per million germanium, 21 ppm gallium and 1,328 ppm cadmium.
Amaroq said that under preliminary processing assumptions, those could translate into concentrate grades of 102 ppm germanium, 48.5 ppm gallium and 3,040 ppm cadmium in a future zinc concentrate.
"I am very pleased to announce the exciting assay results from Black Angel, which confirm not only the impressive zinc, lead and silver grades within the existing resource, but also highlight the presence of high levels of germanium, gallium and cadmium, which we had not expected based on historical data available," chief executive Eldur Olafsson.
"In light of the current global supply constraints for critical metals such as germanium and gallium, both vital to AI, defence, renewable energy and advanced technology applications - finding these elements in a mine which has the ability to restart relatively quickly underscores the strategic importance of Amaroq's expanding portfolio to Western supply chains."
Olafsson said the project would follow the company's "proven approach" used at its Nalunaq gold mine, advancing an existing high-grade resource through phased redevelopment.
"The completion of this transaction establishes the West Greenland Hub as Amaroq's second mining province and a cornerstone for our broader growth strategy," he added.
Amaroq confirmed that the West Greenland Hub, encompassing the Black Angel and Kangerluarsuk projects, will be 100% owned by the company and developed as a standalone mining district.
The Hub would also serve as a logistics base for Amaroq's Suliaq services subsidiary, which supports Greenland's growing mining sector.
It said the Black Angel mine, which produced over 11 million tonnes of ore between 1973 and 1990, was considered Greenland's most productive historical base-metal operation.
The site currently hosts an indicated resource of 3.2 million tonnes grading 8.8% zinc and 3.0% lead, with a further 0.5 million tonnes inferred at 4.73% zinc and 2.2% lead.
Site work this year focused on infrastructure assessment and planning for new surveys ahead of the 2026 field season, which would target expansion of the existing resource and technical studies for redevelopment.
Amaroq said Kangerluarsuk, located about 12 kilometres north of Black Angel, remains a high-potential exploration target with historical surface samples grading up to 45% zinc and 596 grams per tonne silver.
The company plans maiden drilling there in 2026 as part of its broader strategy to create a new multi-asset mining district in West Greenland.
At 1515 GMT, shares in Amaroq were up 3.79% at 90.82p.
Reporting by Josh White for Sharecast.com.
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