Conico is an ASX-listed precious and base metal exploration company with projects in Australia and Greenland.
Conico focuses on battery metals, such as copper, nickel, and cobalt, base metals, including zinc and lead, as well as precious metals, palladium and gold.
Conico’s projects are a combination of brownfields and greenfields, including Mount Thirsty (Mt Thirsty) in Australia, which has a nickel and cobalt mineral resource (that adheres to the JORC Code) and has potential for additional sulphide mineralisation containing palladium.
Additionally, Conico is conducting two projects on the east coast of Greenland: the Mestersvig Project, which contains a historic zinc and lead mine and its Ryberg Project, which is a frontier exploration in its purest form, comprising multiple prospects with potential for battery, base, and precious metals.
The company‘s management team is technically biased, consisting of geologists and logistical experts. It conducts a majority of activities in-house to reduce expenditure and maintain knowledge within the company. The Greenland team is European-based and has a combined experience of over 35 years of operating in the country. Meanwhile, its headquarters in Australia manage the Mt Thirsty Project, in conjunction with its joint venture partner, Greenstone Resources Ltd.
Mt Thirsty: Australia’s most advanced genuine cobalt project (50% Conico)
Mt Thirsty is Australia’s most advanced genuine cobalt project with a pre-feasibility study (PFS) completed in 2020. The Mt Thirsty Project is located 16km northwest of Norseman, Western Australia and is a 50/50 joint venture between Greenstone Resources and Conico Ltd. The project is close to all necessary infrastructures, such as rail, road, power, gas, water, townsite, fibre optic and seaport, and is situated in a mining-orientated state.
The project area is also deemed prospective for primary nickel, copper, and PGE-bearing sulphides, and is currently undergoing a thorough review, with a drill programme planned to occur in 2022.
Mestersvig: Assessing opportunities for base-precious metal mineralisation (100% Conico)
The licenced area contains the historic Blyklippen zinc and lead mine, which is the only mine that has ever operated on the east coast of Greenland. The mine operated year-round from 1956 to 1962, and produced 545,000 tons of ore at 9.3% lead and 9.9% zinc over this period, before closing due to the prevailing low metal prices at the time. The associated infrastructure remains on-site, including the mine camp and harbour.
The company’s efforts are focused on drilling the open strike length of the mined orebody, which appears to extend to the south for an additional 13km. The orebody is also open at depth, beneath the existing underground mine workings. In 2022, a team will be mobilised to conduct drilling activities to assess these opportunities. In addition, known targets for porphyry and stratiform base-precious metal mineralisation will also be assessed.
Ryberg: The under-explored mineral province (100% Conico)
Conico is the first mover at Ryberg and the company has exclusive rights over 4,521km2 of land known to contain nickel, copper, cobalt, palladium, and gold occurrences. The project is on the Atlantic coastline and is located at the closest point to Iceland, which is approximately 365km away. All of its activities are staged out of Reykjavik, the capital of Iceland, due to its proximity and transportation links – sea and air. Additionally, Iceland presents possibilities for future metal processing due to its abundance of green energy.
Previously conducted activities have identified high-grade gold and multiple areas with copper, nickel, cobalt, palladium, and gold mineralisation in the form of magmatic sulphides.
There are six prospects in the Ryberg Project area, consisting of:
- Miki – magmatic sulphides (copper, nickel, cobalt, palladium, and gold);
- Sortekap – magmatic sulphides (nickel and cobalt) and orogenic gold;
- The newly identified Cascata layered intrusion (copper, nickel, and PGEs);
- The Quest intrusion (copper-nickel-PGEs);
- The Pyramid Intrusion (precious & base metals) and
- The Qiterpiaaneq intrusion (copper-nickel-PGEs).
In 2022 a team will be mobilised to conduct drilling activities.
AREAS OF EXPERTISE:
- Frontier mineral explorations in Greenland;
- Advancing the nickel, cobalt, and PGE projects in Australia;
- Battery and precious metal discovery; and
- Remote logistical management.
