Greenland grants more mineral licences

Still more companies are flocking to the world’s largest island in search of Voisey Bay-type nickel-copper-cobalt deposits.

The activity is due to the geological similarities between Labrador’s Nain geological province and Greenland’s Gardar province. Both feature an abundance of gabbro and troctolite rocks.

Major General Resources (VSE) has signed agreements concerning two licences comprising 1,500 sq. km in Greenland. The company will pay $50,000, issue 400,000 shares and perform work valued at $1.5 million.

The properties are subject to a 2% net smelter return, half of which can be bought back for $1 million.

Meanwhile, oil and gas explorer Softrock Petroleums has selected an area based on previous geological mapping.

Softrock has acquired two licences, including the Qaqortoq property, which comprises 34,886 hectares and is adjacent to a concession held by Diamond Fields Resources (TSE).

The second of Softrock’s licences is the Lindenow Fjord, which consists of 105,557 hectares in southeastern Greenland.