Amaroq Minerals (TSXV: AMRQ; LSE: AMRQ) has completed the first gold pour at its flagship Nalunaq gold mine in Greenland.
The pour took place on Wednesday, following the approval of Phase 1 commissioning of the Nalunaq processing plant by the Greenlandic government.
The initial gold pour at Nalunaq yielded 1.2 kg of gold after a ten-hour processing period.
The company said it will continue to optimize the processing plant during Phase 1 commissioning and aims to conduct a gold pour on a weekly basis. Phase 2 commissioning, incorporating the flotation circuit, is due to complete in Q2 2025. Ramp-up to a steady state nameplate plant capacity of 260-300 tonnes per day of material between 12-16 g/t Au is expected to take place in Q4 2025.
Amaroq plans to publish an updated Mineral Resource Estimate for Nalunaq in Q1 2025.
The past-producing Nalunaq mine was open between 2004 and 2013, producing more than 350,000 ounces of gold.
Amaroq acquired the project in 2015 and has since expanded the extent of the resource base through drilling, incorporating a new geological model (Dolerite Dyke).
Shares of Amaroq Minerals rose 2% by 12:10 a.m. EDT. The miner has a market capitalization of C$559 million ($399 million).