11:37 AM EST, 12/12/2024 (MT Newswires) -- (Updates shares.)

Amaroq Minerals ( AMRQF ) was up 4.8% at last look on Thursday as it reported high-grade gold results from its recent sampling campaign at the Eagle's Nest project in Greenland.

The company said its sampling identified gold grades up to 54.5 grams per tonne gold in quartz veins.

Eagle's Nest is located within the Anoritooq license area, part of the Nanortalik Gold Belt, which is 31 kilometers from the Nalunaq gold mine.

"These encouraging results from Eagle's Nest provide a compelling validation of our exploration strategy in the Nanortalik Gold Belt," said James Gilbertson, Amaroq's vice president of exploration. "The discovery of high-grade gold veins, combined with the geological similarities to the Nalunaq mine, positions Eagle's Nest as a strategically significant target in our portfolio."

Amaroq said it plans to include the findings from this campaign into its comprehensive exploration strategy for 2025, targeting further delineation of the identified gold veins.

The company's shares were last seen up $0.08 to $1.75 on the TSX Venture Exchange.

Price: 1.76, Change: +0.09, Percent Change: +5.39