07:04 AM EST, 11/04/2025 (MT Newswires) -- Amaroq Minerals (AMRQ.V), which lost more than 3% on Monday, announced the initial identification of conventional rare earth element (REE) bearing mineralisation within its Nunarsuit mineral licence area in South Greenland.

The company, earlier on Tuesday said the REE mineralisation with high grades of up to 2.31% Total Rare Earth Oxide (TREO) was confirmed at Ilua Pegmatite Zone within the Nunarsuit licence. REE assay results average 27% Heavy and 73% Light REE, with 21% comprising the key magnet metals Neodymium, Praseodymium, Dysprosium, and Terbium.

It added that the initial fieldwork indicated a broad REE-bearing pegmatite system that "warrant further evaluation." The company thinks it is possible that there are multiple parallel structures, which it intends to assess during the 2026 exploration season.

"The fact that the REE mineralisation appears to be hosted in low uranium, 'traditional' minerology is particularly encouraging; Amaroq ( AMRQF ) believe that the host is likely to be a well-understood rare earth ore mineral monazite, that typically lends itself to conventional extraction and processing techniques," said Amaroq Minerals' vice president of exploration James Gilbertson.

The company said its technical team will complete further assessments with a view to conducting a scout drilling campaign as early as Spring 2026.

Shares of the company closed down $0.05 to $1.5 on Monday on the TSX Venture Exchange.