Amaroq starts drilling at Ilua pegmatite prospect

(Sharecast News) - Amaroq said on Monday that it had begun drilling at the Ilua pegmatite rare earth element prospect in southern Greenland, marking the start of its 2026 exploration programme. The AIM-traded miner said the scout drilling campaign would test three targets across a pegmatite system extending for at least 5km of strike, providing the first subsurface assessment of the project's size and economic potential.

Previous surface sampling returned grades of up to 2.3% total rare earth oxides, with about 27% comprising higher-value heavy rare earths, while mineralogical studies confirmed the presence of commercially important minerals including monazite, britholite and zircon.

Vice-president of exploration James Gilbertson said the programme was an important milestone, adding that the pegmatite system appeared to contain more conventionally processable rare earth mineralisation with relatively low uranium and thorium content.

He said the drilling would help assess the continuity, geometry and commercial characteristics of the system while guiding future exploration and potential development.

At 1329 BST, shares in Amaroq were up 1.2% at 84p.

Reporting by Josh White for Sharecast.com.

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