Greenland Offers Exploration Homerun Potential

Richard (Rick) Mills
Ahead of the Herd

Page 1 of 3

 

As a general rule, the most successful man in life is the man who has the best information

 

It’s time to talk about Greenland, security of resource supply and excellent early exploration results. Why Greenland? Well Greenland’s becoming the new frontier for those in the mining industry who explore for, find, and develop (to a certain point) the world’s future mines. Explorers are there now and coming in ever increasing numbers. They’re searching for a wide range of commodities including base and precious metals, rare earth elements and gemstones.

 

The number of active Exploration Licenses has increased more than six fold since 2002. Part of the reason for this rapid increase is that Greenland’s home rule government is anxious to see its resource sector expand - tax and other revenue from mining accrue directly to government coffers. Mining companies, and their investors, like Greenland because it is part of the Kingdom of Denmark, a safe, stable democracy with a transparent regulatory system and ready access to the EU.

 

As competition from the developing world pushes up the price of energy, metals, minerals and other raw materials, finding new sources of supply is at a premium.

 

Greenland represents a vast and largely untapped resource.

 

A unique frontier

 

Greenland is the largest island on Earth and its geological development spans a period of nearly 4 billion years, from the earliest Archean to the Quaternary.

 

Although the central portion of Greenland is covered by a large ice sheet left over from the last ice age, the ice-free zone around the ice cap is up to 300 kms wide and covers an area of 410,000 km² (area of Germany is 357,000 km). The scouring forces of the glaciers have left behind large areas of clean exposed rock for geologists to prospect while the melting snow and ice from the inland icecap creates potential for hydro-electric power generation.

 

These non ice covered coastal areas - geological terrain that is simply an extension of the Canadian Shield - expose numerous mineral belts that are highly prospective for gold, nickel, platinum group elements (PGE), copper, lead, zinc, molybdenum, tantalum and niobium, iron ore, several forms of industrial minerals, diamonds, rubies and rare earth elements (REEs).

 

North American Nickel

 

North American Nickel TSX.V – NAN is a resource development company that's exploring for sulphide nickel/copper (with cobalt/PGE) deposits in Greenland at their Maniitsoq Project (named for the nearest large town).

 

NAN has met with some success at Maniitsoq such that in May/June 2013, it was able to raise over $7 million to finance follow-up drilling. Market conditions have been challenging, and NAN’s ability to raise a large sum of money on a grassroots exploration project is encouraging, and a very strong indicator of the potential investors see in the property.

 

In July of 2013 NAN announced that it had been notified by the Greenland Bureau of Minerals and Petroleum that its application to expand its exploration area by 123 square kilometers has been approved - the total exploration area of the project is now 5,106 square kilometers.

 



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