Exhibit 96.1

Technical Report Summary for the Disko-Nuussuaq Project

Disko-Nussuaq Project, West Greenland, Greenland
USFM Corporation

SRK Exploration Limited § ES10161 § June 2026

Technical Report Summary for the Disko-Nuussuaq Project

Disko-Nussuaq Project, West Greenland, Greenland

Prepared for: USFM Corporation 1707 Cole Blvd, Suite 200 Golden,      Colorado , 80401 United States   usfm.com   Prepared by: SRK Exploration Limited 12 St Andrews Crescent Cardiff, CF5 5TZ United Kingdom   +44 2920 233233 www.srk.com   Reg. No. 04929472

Signature date: 30^th June 2026
Effective date: 30^th June 2026

File Name:

ES10161_Disko-Nuussuaq_TRS_v2-0.docx

Suggested Citation:

SRK Exploration Limited. 2026. Technical Report Summary for the Disko-Nuussuaq Project. .

Prepared for USFM Corporation: Golden, Colorado. Project number: ES10161. Issued June 2026.

Cover Image(s):

Aaffarsuaq Valley at Nuussuaq – the valley host several very large well-established drill targets confirmed by geology, geophysics and geochemistry. Source: The Disko-Nuussuaq Ni-Cu-Co-PGM-Au Project, 80 Mile PLC, October 2025

Copyright © 2026

SRK Exploration Limited § ES10161 § June 2026

Acknowledgments

SRK EX would like to acknowledge the support and collaboration provided by USFM Corporation and 80 Mile PLC personnel for this assignment. Their collaboration was greatly appreciated and instrumental to the success of this project.

IMPORTANT NOTICE

This Technical Report Summary has been prepared in accordance with Subpart 1300 of Regulation S-K of the U.S. Securities and Exchange Commission for USFM Corporation (“USFM”) by SRK Exploration Limited. (SRK EX). The quality of information, conclusions, and estimates contained herein are consistent with the quality of effort involved in SRK EX’s services. The information, conclusions, and estimates contained herein are based on: i) information available at the time of preparation, ii) data supplied by outside sources, and iii) the assumptions, conditions, and qualifications set forth in this report. This report is intended for use by USFM subject to the terms and conditions of its contract with SRK EX and relevant securities legislation. The contract permits USFM to file this report as a Technical Report Summary in accordance with Subpart 1300 of Regulation S-K of the U.S. Securities and Exchange Commission. Except for the purposes legislated under provincial securities law, any other uses of this report by any third party is at that party’s sole risk. The responsibility for this disclosure remains with USFM. The user of this document should ensure that this is the most recent Technical Report Summary for the property as it is not valid if a new Technical Report Summary has been issued.

This document, as a collective work of content and the coordination, arrangement and any enhancement of said content, is protected by copyright vested in SRK Exploration Limited.

Outside the purposes legislated under provincial securities laws and stipulated in SRK EX’ client contract, this document shall not be reproduced in full or in any edited, abridged or otherwise amended form unless expressly agreed in writing by SRK EX.

Technical Report Summary for the Disko-Nuussuaq Project
EXECUTIVE SUMMARY

This Technical Report Summary “TRS” has been prepared by SRK Exploration Limited (“SRK EX”) for USFM Corporation (“USFM”) in accordance with Subpart 1300 of Regulation S-K of the US Securities and Exchange Commission. The report summaries the geological setting, exploration history, exploration results, and future exploration potential of the Disko-Nuussuaq Project in West Greenland. The Project is an early-stage nickel-copper-cobalt-platinum group element (“Ni-Cu-Co-PGE”) +/- gold exploration project and does not contain Mineral Resources or Mineral Reserves.

The Disko-Nuussuaq Project comprises six mineral exploration licences covering approximately 3,015 km² on Disko Island and the Nuussuaq Peninsula in west-central Greenland. The licences are held by Nikkeli Greenland A/S, a wholly owned subsidiary of 80 Mile PLC. Under a farm-in agreement executed in 2025, USFM may earn a 51% interest in the Project through exploration expenditures of up to US$30 million over three years, while 80 Mile PLC remains project operator and retains a 49% interest. The Project is located approximately 150 km northwest of Ilulissat and is accessible by fixed-wing aircraft, helicopter, and seasonal maritime transport.

The Project lies within the Palaeogene West Greenland Flood basalt Province, part of the North Atlantic Igneous Province. Exploration is focused on magmatic Ni-Cu-Co-PGE sulphide mineralisation associated with mantle-derived picritic magmas emplaced through feeder conduits, dykes, sills and intrusive complexes with the Cretaceous Nuussuaq sedimentary basin.

The exploration model is based on geological similarities with globally significant magmatic sulphide districts, particularly the Norilsk-Talnakh district in Russia. The two projects share key geological characteristics such as primitive metal-rich magmas, evidence of crustal contamination by sulphide-rich and carbonaceous sediments, major crustal scale corridors, and occurrences of nickel-bearing intrusions. Recent geochemical studies identified surface anomalies displaying indications of the existence of prospective systems, including elevated Ni-Cu-PGE signatures, indications of sulphide saturation and metal transport.

Exploration within the district has been undertaken intermittently since the late 19^th century and includes modern exploration activities conducted for both hydrocarbon and metals exploration. These activities include mapping, surface geochemical sampling, multiple phases of airborne and ground geophysical surveys, as well as seismic and gravity modelling. To date, several early-stage targets have been identified with only limited preliminary follow-up drill testing. Historical drilling successful intersected anomalous intrusive bodies but has not identified economic concentrations of Ni-Cu-Co-PGE sulphide mineralisation. Recent exploration has worked to advance the understanding of the project through the acquisition of high-quality geophysical data, and application of modern re-processing techniques. This has resulted in delineation of targets which are planned for drill testing from 2026 field season.

SRRK EX considers the Disko-Nuussuaq Project to represent a geologically compelling and underexplored magmatic sulphide exploration opportunity. The Project contains many of the geological, geochemical, structural and geophysical characteristics associated with major conduit-hosted Ni-Cu-Co-PGE sulphide systems elsewhere in the world.

The Project remains at an early exploration stage with multiple prospective targets warranting drill testing with much ground that remains under- or unexplored. Historical exploration has demonstrated strong indications of the presence of a fertile magmatic system that has not been adequately tested. Several robust drill targets exist a Qullissat, Aaffarsuaq Valley and Kuugannguaq structural corridor, and in western Nuussuaq.

At the time of this report there is insufficient information to support the estimation of Mineral resources under the SEC Regulation S-K 1300. However, the absence of economic mineralisation identified reflects the limited extent of deep drilling, rather than a lack of mineral potential.

SRK EX confirms the proposed exploration plan as technically robust and represent the appropriate next step in evaluating mineral potential of the Project. It comprises the drilling of nine diamond drill holes in the Qullissat, Aaffarsuaq Valley, Kuugannguaq, and western Nuussuaq areas, totalling approximately 8,200 m. USFM has allocated a budget of approximately USD 10 million to this programme which SRK EX considers to be reasonable and justified.

Table 1-1:        Summary details for the Disko-Nuussuaq project

Sources: SRK, 2026

TABLE OF CONTENTS

Tables

Figures

Appendices

USEFUL DEFINITIONS

This list contains definitions of symbols, units, abbreviations, and terminology that may be unfamiliar to the reader.

The Disko-Nuussuaq project is an early-stage Ni-Cu-Co-PGE ± Au exploration project located in Greenland. It is located on the central, west coast of Greenland, approximately 150 km northwest of the town of Ilulissat.

In May 2026, USFM Corporation (“USFM”) commissioned SRK Exploration Limited (“SRK EX”) to prepare an independent Technical Report Summary (“TRS”) on the Disko-Nuussuaq project. This technical report summary was prepared in accordance with the SEC S-K regulations (Title 17, Part 229, Items 601 and 1300 through 1305). These services were rendered between May and June 2026, leading to the preparation of a summary of historical exploration and mineral potential reported herein.

The mineral licences for the Disko-Nuussuaq project are wholly owned by 80 Mile PLC (“80 Mile”), who is the operator of the project. USFM is providing the funding for exploration and requires the TRS so that it can potentially be lodged on a US stock exchange. The TRS has been prepared to meet the requirements of the Securities Exchange Commission (“SEC”) and in accordance with SEC Regulation S-K 1300, an SEC rule for the public reporting of exploration and mining projects.

The quality of information, conclusions, and estimates contained herein are consistent with the level of effort involved in SRK’s services, based on:

This report is intended for use by USFM subject to the terms and conditions of its contract with SRK EX and relevant securities legislation. The contract permits USFM to file this report as a technical report summary with American securities regulatory authorities pursuant to the SEC S-K regulations, more specifically Title 17, Subpart 229.600, item 601(b)(96) - Technical Report Summary and Title 17, Subpart 229.1300 - Disclosure by Registrants Engaged in Mining Operations. Except for the purposes legislated under U.S. federal securities law, or with other securities regulators as specifically consented to by SRK EX, any other use of this report by any third party are at that party’s sole risk. The responsibility for this disclosure remains with USFM.

The purpose of this technical report summary is to report exploration results for the Disko Project. The effective date of this report is 30^th June 2026.

References to industry best practices contained herein are generally in reference to those documented practices as defined by organizations, such as the Society for Mining Metallurgy and Exploration (SME), the Canadian Institute of Mining, Metallurgy, and Petroleum (CIM), or international reporting standards as developed by the Committee for Mineral Reserves International Reporting Standards (CRIRSCO).

The scope of work, as defined in a contract P1353 Proposal for Technical Report Summary for the Disko-Nuussuaq Project, executed on 28 April 2026 between USFM and SRK EX, includes:

The production of this TRS has been a collaborative effort between 80 Mile PLC, USFM and SRK EX personnel. Geological data, exploration data and exploration reports were compiled by 80 Mile on behalf of UDSFM and provided to SRK EX for review and used in the compilation of this TRS.

The technical report was assembled in SRK EX’s Cardiff, UK, office between May and June 2026.

This report is based on exploration data provided by USFM from previous work undertaken on behalf of USFM by 80 Mile PLC, formerly Bluejay Mining PLC, KoBold Metals, and historical work. SRK EX have also reviewed information from public domain sources in the production of this TRS.

SRK EX has no reason to doubt the reliability of the information provided by USFM or 80 Mile. There is no previously filed TRS for this project.

SRK EX is part of the international group holding company, SRK Consulting (Global) Limited (the “SRK Group”). The SRK Group comprises more than 1,800 professionals, offering expertise in a wide range of mineral resource engineering disciplines. SRK has a proven track record in undertaking independent assessments of mineral resources and mineral reserves, project evaluations and audits, technical reports and independent feasibility evaluations to bankable standards on behalf of exploration and mining companies, and financial institutions worldwide. Through its work with a large number of international mining and exploration companies, the SRK Group has established a reputation for providing valuable consultancy services to the global mining industry.

This report was prepared by SRK Exploration Ltd. (“SRK EX”), a third-party firm comprising mineral exploration experts in accordance with § 229.1302(b)(1). USFM has determined that SRK meets the qualifications specified under the definition of Qualified Person in § 229.1300. References to the QP in this report are references to SRK Exploration Ltd. and not to any individual employed at SRK.

SRK EX qualifies as a QP based on the S-K 1300 definition of and has utilised individuals who:

(i) Be either:

(A) An organization recognized within the mining industry as a reputable professional association; or

(B) A board authorized by U.S. federal, state or foreign statute to regulate professionals in the mining, geoscience or related field;

(ii) Admit eligible members primarily on the basis of their academic qualifications and experience;

(iii) Establish and require compliance with professional standards of competence and ethics;

(iv) Require or encourage continuing professional development;

(v) Have and apply disciplinary powers, including the power to suspend or expel a member regardless of where the member practices or resides; and

(vi) Provide a public list of members in good standing.

Both SRK EX and the QP are independent of the Issuer (USFM) given there is no circumstance that, in the opinion of a reasonable person aware of all relevant facts, could interfere with the preparation of the Technical Report. Further, both SRK EX and the QP are defined as follows:

A site visit has not yet been conducted by the QP. This is because, at the time of writing, the 2026 exploration programme has not commenced and the logistical platform is not in place to facilitate a visit. A QP visit is however scheduled to take place during late July 2026 after the commencement of a drilling programme.

SRK EX’ opinion contained herein and effective 30^th June 2026 is based on information collected by or provided to SRK EX throughout the course of SRK EX’ investigations. The information in turn reflects various technical and economic conditions at the time of writing this report. Given the nature of the exploration and mining business, these conditions can change significantly over relatively short periods of time. Consequently, actual results may be significantly more or less favourable.

This report may include technical information that requires subsequent calculations to derive subtotals, totals, and weighted averages. Such calculations inherently involve a degree of rounding and consequently introduce a margin of error. Where these occur, SRK EX does not consider them to be material.

SRK EX is not an insider, associate or an affiliate of USFM, and neither SRK EX nor any affiliate has acted as advisor to USFM, its subsidiaries or its affiliates in connection with this project. The results of the technical review by SRK EX are not dependent on any prior agreements concerning the conclusions to be reached, nor are there any undisclosed understandings concerning any future business dealings.

The Disko-Nuussuaq project is an early-stage Ni-Cu-Co-PGE ± Au exploration project located in Greenland. It is located on the central, west coast of Greenland, approximately 150 km northwest of the town of Ilulissat. Figure 3-1 shows the project licence areas and local settlements.

Figure 3-1: Project location

Sources: SRK Exploration, 2026

Notes: Inset map displays major settlements with main airports of Greenland

The area has been explored since the late 1800s, and early exploration activities are well summarised in Larsen and Pedersen (2009). Various onshore and offshore surveys were undertaken following this during several phases of hydrocarbon exploration dating from the 1980s to modern times.

In September 2016, the project was purchased by Bluejay Mining (then FinnAust Mining), from Cairn Energy and Bluejay carried out exploration under its wholly-owned subsidiary, Disko Exploration Ltd. Licences were also acquired from Coastal Ventures A/S in 2017.

In August 2021, Bluejay entered into a Joint Venture agreement with KoBold Metals through its wholly-owned subsidiary, Disko Exploration Ltd. Under the terms of the agreement, KoBold could earn 51% operating interest through a $15 million investment in exploration.

In February 2022, Bluejay formally incorporated Nikkeli Greenland A/S as the Greenlandic operating entity and legal holder of the exploration licences. Furthermore, Bluejay rebranded as 80 Mile PLC in July 2024.

During the Joint Venture with KoBold, roughly $13.4 million was spent on geophysical surveys, data processing, artificial intelligence and exploration tools but exploration failed to progress to drilling. In May 2025, the agreement was terminated early, returning full project interests to 80 Mile PLC while KoBold went on to focus on copper assets in Zambia. Under the terms of this agreement, KoBold retains a net smelter return royalty on future production.

After regaining full control, 80 Mile PLC restructured its asset ownership to fund further exploration and entered a binding agreement with USFM Corporation in late 2025. USFM Corporation is a private, US-based mineral exploration and investment company based in Golden, Colorado, and was established to focus on advancing drilling to develop world class tier-1 assets and develop a Western-backed pipeline of magmatic Ni-Cu-Co-PGE resources. Under the agreement, USFM can earn a 51% Farm-In interest through investment of US$30 million over three years into new exploration drilling. 80 Mile remains the project operator, retaining a 49%, free-carried interest, and earns a 12.5% management fee on all exploration capital expenditure by USFM (source: 80 Mile PLC). Nikkeli Greenland A/S remains the legal permit holders for the Disko-Nuussuaq licences and remains the wholly owned subsidiary of 80 Mile PLC.

Between 2011 and 2022, 80 Mile acquired mineral exploration licences under their Greenlandic-based, wholly-owned subsidiary Nikkeli Greenland A/S to explore for Ni-Cu-PGE-Au deposits in West Greenland. There are six licences, totalling a combined area of 3,015 km². Three of the licences comprise two separate areas. Figure 3-2 illustrates the locations of the six licences and their details are summarised in Table 3-1. Co-ordinates for all licences are provided in Appendix A.

Figure 3-2: Nikkeli licence areas and adjacent properties

Sources: SRK Exploration, 2026; MLSA

Notes: Coordinates in UTM Zone 22N, WGS84

Mineral exploration licences are issued for a period of five years and are renewable up to a total duration of 22 years. The project licence areas will be renewable until the earliest reaches expiry in 2036, posing little risk to exploration activity.

SRK EX notes that licence MEL 2019-116 expired at the end of 2025. SRK EX has been informed by 80 Mile that an application for renewal of this licence has been made and it is under review by the Mineral Licensing and Safety Authority (“MLSA”) in Greenland. 80 Mile further states that the licence was in good standing at the time of expiry and there is no reason why it’s renewal should not be granted.

Sources: 80 Mile PLC

In late 2025, USFM Corporation entered into a Joint venture agreement with 80 Mile Plc. Under the terms of the agreement, USFM invested US$30 million earning a 51% interest in the project while 80 Mile maintains operator status and a 49% free-carried stake. Under the terms of the agreement, USFM bears 100% of site restoration and rehabilitation costs.

80 Mile Plc is an exploration and development company listed on the London AIM, Frankfurt and US OTC stock markets. The company holds a portfolio of nickel, copper, cobalt and PGM projects across Greenland, Finland, and Italy. 80 Mile wholly owns local subsidiary Nikkeli Greenland A/S.

During the dissolution of the 80 Mile – Kobold JV in 2025, KoBold has retained a net smelter return royalty on future production however the details of this are unknown.

SRK is not aware of any other underlying interests in this project and has not consulted legal advice to this effect.

The Ministry of Mineral Resources (“MMR”) is responsible for strategy, policy, and legal aspects of mineral exploration and mining activities including socio-economic factors such as social impact assessments.

Prospecting, exploration and mining licences are administered by the Mineral Licence and Safety Authority (“MLSA”) which sits within the MMR. They also carry out inspections including monitoring of safety matters.

There is no land ownership in Greenland, so activities and mining rights are regulated by the government. There is no landscape of privately-held surface or indigenous mining rights to navigate.

Mineral ownership in Greenland belongs wholly to the Greenlandic government.

Exploration licence holders are required submit details of planned exploration work to the MLSA for approval. Furthermore, they are required to report all geological, geochemical, geophysical, environmental or other related investigations regarding licence areas annually to the MLSA.

SRK EX has been informed by 80 Mile that the Company has all required approvals for exploration activities in 2026. This also applies to EL 2019-116, despite the Company not yet having received certification of its renewal.

Environmental matters related to mining and mineral exploration are administered by the Environmental Agency for the Mineral Resources Area (EAMRA). The body sits with the Ministry for Environment and Nature and monitors activities related to environmental liability and environmental impact assessments.

Protected areas within or near the licence areas are discussed in Section 17 of this report.

Mineral ownership in Greenland belongs wholly to the Greenlandic government. There is no private mineral ownership framework.

Since January 2024, all activities related to prospecting, exploration and mining for minerals are governed by the Greenland Minerals Act (dated 13 June 2023), known as “the Mining Act”. It replaces the Greenland Parliament Act of 7 December 2009 on Mineral Resources and Mineral Resource Activities (the Mineral Resources Act). The Mining Act was introduced to separate small-scale activities from that of larger commercial exploration. Companies must adhere to updated legislation regarding environment, and local and foreign employment. Updates include:

In Greenland, all uranium prospecting is banned, and there are limits to exploration of areas if the average uranium content of the resource is deemed to be equal to or over 100ppm U.

Rights to prospect, explore and mine are granted according to the Standard Terms for Exploration Licences for Minerals (Excluding Hydrocarbons) dated 25 June 2013.

The following types of commercial mineral licence are available in Greenland.

Prospecting Licences

These are intended for early-stage mineral prospecting activities (excluding drilling) and are granted for periods of up to five years at a time and may be renewed for up to 15 years in total. They do not confer any exclusive rights to exploration and a similar licence or other types of licence may be granted to others for the same area. There is an application fee of DKK 3,000 and a granting fee (on approval) of DKK 28,000 (2026). There are no annual fees or minimum exploration expenditure commitments.

Exploration Licences

These provide exclusive rights for the licensee to undertake mineral exploration activities for all commodities within the licence area, excluding hydrocarbons, radioactive elements and hydropower, and mineral resources stated in the Act 20 and in Executive order No. 1 of 7 January 2025 on limitation of certain mineral resources (certain gemstones and collectors’ stones reserved for local mineral activities). They must have a minimum size of 5 km² and may consist of up to five separated sub-areas with no more than 100 km distance between areas.

Exploration Licences are granted for an initial period of five years, after which the licensee is entitled to apply for a new period of five years for the same area. At the expiry of the second licence period (years 6-10), the licensee may apply for further three-year periods for the same area up to a maximum of 22 years (years 11-13, 14-16, 17-19 and 20-22).

The licensee is committed to a defray a minimum exploration expenditure per licence per year. The exploration obligation is defined as a fixed amount per licence plus a fixed amount per square kilometre annually which increase with the age of the licence. This amount is defined by the Government and is mainly the same for all exploration licences, and it also increases with the age of the licence.

The current fee structure for Exploration Licences is as follows (2026):

One-off fees

Minimum exploration expenditure commitments:

Annual fees

Special Exploration Licences

These are designed to enable early-stage, belt-scale exploration over large and remote areas of North and East Greenland (where logistical and access costs may significantly exceed those in other regions) prior to application for standard exploration licences over selected sub-areas. They provide exclusivity and must cover a minimum area of 1,000 km². There is no maximum size. They are granted for a non-renewable term of up to three years and carry reduced annual exploration expenditure commitments relative to standard exploration licences.

One-off fees

Annual commitments (reduced)

Exploitation Licences

An Exploitation Licence may be granted to exploit one or more minerals for a specified area and on specific terms to an Exploration Licence holder (“Licensee”) who has has substantiated and delineated a viable mineral deposit which the Licensee intends to exploit, and has performed all of its obligations in relation to the Exploration Licence and activities under the licence. The Government of Greenland will decide whether the conditions have been met.

Before an Exploitation Licence can be granted, the Licensee must prepare a project terms of reference document which must be put in public consultation (35 days), and where appropriate combined with the terms of reference for the EIA and SIA. Completion and approval of the full EIA and SIA are then postponed to after grant of an Exploitation Licence, but before exploitation may be initiated.

The licence conveys the Licensee exclusive rights to exploitation and exploration and is granted for a period of 30 years (unless a shorter period is stipulated as a condition) up to a maximum of 50 years. The licence is terminated when exploitation activities have ceased and a closure plan (agreed with the Government at the time of application for the Exploitation Licence) has been completed to the Government’s satisfaction.

Suspension of exploitation activities with a view to their subsequent resumption is possible but subject to approval by the Government. Approval may be granted for up to two years at a time, and renewed approval may be granted on modified terms.

One-off fees

Other financial requirements

Under the terms of an Exploitation Licence, the following are payable:

The royalty may be calculated on the basis of:

Currently, the royalty payment form applied is sales royalty. The royalty payable depends on the type of minerals exploited, such as:

The Disko-Nuussuaq Project is on the central west coast of Greenland, within the administrative regions of Qeqertalik and Avannaata, respectively Figure 3-1. It comprises ten areas held under six mineral exploration licences, (MEL 2018-16; MEL 2012-29; MEL 2020-10; MEL 2024-30; MEL 2017-01, MEL 2019-116) on both Disko Island and the Nuussuaq Peninsula (Figure 3-2).

International access to West Greenland is typically via scheduled commercial flights to Nuuk or Ilulissat. From these hubs, fixed-wing domestic flights connect to Qaarsut (70 km northeast) or Aasiaat (170 km south) airports, depending on service schedule Figure 4-1.

Access by boat from via the Vaigat Strait is permissible for nine months of the year and requires an ice-strengthened vessel. There is a ferry to Disko Island which operates during summer requiring advance booking, and Air Greenland operate commercial helicopter flights between Ilulissat/Aasiaat and Qeqertarsuaq on the south side of the island.

Figure 4-1: Regional access to the project

Sources: SRK EX, 2026

Notes: Star marks approximate location of the Disko-Nuussuaq Project camp

Local access to the licence areas is by Air Greenland helicopter from various heliports in the vicinity including Qaarsut, Uummannaq (75 km northeast), Sarqaq (70 km east), Qeqertarsuaq (100 km south) and Ilulissat (120 km southeast). There are no roads to or within the project area.

Inside the licence areas, movement is constrained due to the absence of developed tracks/raids and by severe topography.

The Project lies in an Arctic maritime climate typical of west Greenland. An ice cap climate is present in the centre of Disko Island. Winters are long and cold, with mean monthly temperatures well below 0 °C and minimum temperatures commonly falling below -20 °C. Summers are short and cool; average temperatures in July can reach over 5°C. Climate data are available for the regional hub Ilulissat and shown in Figure 4-2.

Figure 4-2: Annual climate data for Ilulissat

Sources: climatestotravel.com

Precipitation occurs throughout the year, mostly falling as snow from late autumn through to spring, while rain and mixed precipitation are more common during the summer months. Fog, low cloud and blowing snow are frequent, and these conditions can significantly affect both aviation and marine operations. The area is sea ice free for 9 months of the year, with sea ice being more common in late winter and early spring, which may restrict marine access.

Daylight conditions are highly seasonal, ranging from very short days in mid-winter to continuous daylight in mid-summer, and this must be taken into account in planning and scheduling exploration activities.

There is little infrastructure available to the project and all materials need to be transported in. The abandoned town of Qullissat on the northeast coast of Disko Island is the site of 80 Mile’s exploration camp during field campaigns, and remote field work is often either helicopter-based or uses short-term fly camps.

The nearest population and service centres are coastal towns and settlements along the west coast of Greenland, particularly Qeqertarsuaq (on Disko Island itself; pop. 800), Ilulissat (pop. 5,150), and Uummannaq (pop. 1,380), which can provide local labour, boat services and limited supplies There are no permanent settlements within any of the licence areas. The history of coal mining in the area has left several previous settlements, particularly at Qullissat, on the island.

Goods and provisions can be sourced from the main towns Ilulissat, Aasiaat, and Uummannaq. Technical supplies require import via air or sea, and container vessels can dock these towns. These towns include shops, guesthouses, and small hospitals/health clinics.

There is no grid power in the area. Exploration at this stage requires off-grid power sources, likely diesel generators

Water for the area and drilling would likely be obtained from local stream sources, snow melt and ice cap runoff within the licence areas, subject to appropriate treatment and permitting.

The physiography of Disko Island and the Nuussuaq Peninsula comprises basalt plateaus incised by U-shaped glacial valleys, fjords and narrow coastal plains. Peaks rise to over 1,500 m and remain covered by snow, ice and glaciers throughout the year.

There has been no systematic mapping of the permafrost or permafrost-related terrain features in this part of West Greenland, although Disko Island has been placed in a zone of continuous permafrost as supported by the open system pingos and numerous rock glaciers.

Figure 4-3: Typical landscape and vegetation across the Disko Project area

Sources: 80 Mile plc, 2025

Notes: Aaffarsuaq Valley

Figure 4-4: Typical landscape and vegetation across the Disko Project area

Sources: Hy-Grade Geoscience, 2007

The Disko-Nuussuaq Project has been explored since the late 19^th century, progressing from early prospecting of shallow mineral occurrences to modern exploration programmes over the past forty years that have targeted deeper parts of the magmatic system. Several organisations have contributed to advancing the project to its current stage of exploration. This section is summarised from Avannaa’s technical report and related documents and condensed into Table 5-1. Areas investigated are generally referenced by local place names, summarised in Figure 5-1.

Sources: SRK EX, 2026.

Figure 5-1:     Place names as referenced in historical works (red outlines are licences belonging to Nikkeli A/S)

Sources: SRK EX, 2026

Greenlandic and Danish geologists, Fritz Jørgensen, K.J.V. Steenstrup and A.B. Nordenskiӧld, initially explored the area in the 1870s to collect information on native iron and coal seams. A small coal quarry was observed on the northeast coast of Disko Island, operational in the late 1700s. During this visit, geologists reportedly discovered a 28 tonne boulder of massive nickel sulphide associated with a dyke at Igdlukunguaq containing pyrrhotite and native iron.

Prospecting work was carried out until 1931 during which local prospectors from Qullissat extracted the massive nickel sulphide boulder from the Igdlukunguaq Dyke, assaying 6.9% Ni, 3.7% Cu, 0.6% Co and 2 g/t PGM (Bluejay Mining, 2022).

Several studies of the metal occurrences have been published since 1950. Pedersen and Ulff-Moller were renowned for their work on flood basalts and have been credited with the discovery of several native iron occurrences.

Preliminary evaluations of the nickel potential in iron cumulates at the base of the mafic lava flows were carried out by Inco, while geological mapping and prospecting were undertaken by Kryoliteselskabet Øresund A/S in 1962–1963.

Further work on the Illukunnguaq Dyke continued in 1966 by the New Quebec Mining and Exploration Company on behalf of Lockwood Survey Corporation Limited. This work involved helicopter-based airborne magnetic and electromagnetic (“EM”) surveys over the Illukunnguaq area and a portion of the Sarqaq valley on the Nuussuaq Peninsula north of Disko Island. Additional geophysical surveys were conducted by Terratest AB in 1968, which identified a 500 m deep anomaly to the east and along strike of the outcropping nickel sulphide mineralisation. An EM16 Very Low Frequency (“VLF”) electromagnetic survey and a four-hole diamond drill programme totalling 256 m was implemented by E.A. Hart in 1970 to intersect the sulphide-bearing dyke, but only one of these holes was successful in intersecting the dyke.

In the 1980s, Cominco recognised distinct geological similarities between Greenland's basaltic provinces (particularly Disko Island and the Nuussuaq Peninsula) and the world-class Noril'sk-Talnakh nickel-copper-cobalt-PGE district in Russia.

Exploration by Greenex on behalf of Cominco commenced in 1985. This programme involved an aeromagnetic survey, ground reconnaissance, VLF, horizontal loop EM, time domain EM, gravity surveying, prospecting, rock analysis, soil geochemistry and analysis of the light fractions from stream sediment sampling. The programme identified 18 electromagnetic anomalies, two previously undiscovered native iron showings and several contaminated lava flows.

In 1987, Cominco conducted a survey that successfully identified occurrences of sulphides and native iron through the sampling of volcanic rocks.

Falconbridge commenced exploration on Disko Island in 1991. Initial work began with geological mapping, prospecting and lithogeochemical sampling of lavas and subvolcanic intrusions, resulting in the collection of 770 whole rock and 33 assay samples. The main objective was to demonstrate the correlation between mineralisation and subvolcanic intrusions. Sampling confirms that the geochemistry of the lavas and sills suggested large concentrations of Ni, Cu, Co and PGE remain undiscovered. Thirty stratigraphic profiles were produced in 1992 by Olshefky.

Geoterrex Ltd. was contracted to fly an airborne GEOTEM and magnetic survey over eleven areas on Disko Island and the Nuussuaq Peninsula in 1992 (Figure 5-2). The nickel and platinum group element (“PGE”) potential of the West Greenland basalt province was evaluated through geological mapping, lithogeochemical sampling, stream sediment sampling and prospecting during the same summer.

Figure 5-2: Extent of airborne GEOTEM and magnetic surveys and their anomalies

Sources: Olshefsky & Jerome, 1992.

Exploration activities in 1993 continued including ground geophysics, diamond drilling, geological mapping, lithogeochemical sampling and prospecting.

Reconnaissance mapping and sampling in the Kuugannguaq Valley was conducted. A total of 44 dyke samples and four sill samples were collected from Disko. Four nickel- copper-depleted dykes were identified close to the crater site in the Kuugannguaq Member. Pedersen, 1985, documented the crater site as an eruptive event producing 7.5 km³ of contaminated Ni-Cu depleted lavas and tuffs over an area of 200 km². One dyke was correlated with the Kuugannguaq Member eruption event, while the remaining dykes were inferred to be feeder dykes to the Niagussat Member.

Drilling

Ten diamond drill holes totalling 921.1 m were completed in 1993 testing geophysical targets at Igdlukunguaq, Qullissat and in the Kuugannguaq Valley (Table 5-2). A Longyear Fly-in-38 drill rig was used and moved by helicopter. Drilling was focussed on the Igdlukunguaq Dyke area however planned target depths could not be reached due to complete loss of fluids from the poorly consolidated sediments. Drilling below the location of the sulphide boulder extracted sixty years prior confirmed the dyke does not continue down dip and is still interpreted to be open in a southeast direction at a 15° plunge (Stewart, 1992). Drilling was abandoned after one of the holes intersected a pocket of natural gas, causing a blowout.

Only one hole, at Qullissat, encountered mineralisation FP93-4-1. The unit was interpreted as a sill, which contained a high proportion of finely disseminated graphite and minor pyrite and pyrrhotite. The intrusion is petrographically and geochemically similar to the volcanic rocks of the Asuk Member but with significantly higher levels of Ni (440 to 520 ppm) and Cu (240 to 700 ppm).

Drilling in the Kuugannguaq Valley intersected the magnetic gneissic basement confirming the source of the magnetic anomaly in this area.

Figure 5-3:      Falconbridge drilling locations in the Qullissat, Igdlukunguaq, Kuugannguaq Valley and Sarqaq Valley areas

Sources: SRK EX, 2026

Notes: Hole IDs beginning FP93, corresponding to 1993 drillholes, FP94 as 1994 drillholes.

Table 5-2:      Summary of Falconbridge’s drilling in 1993

Sources: Edited from AMEC Foster Wheeler, 2015

The 1994 Falconbridge exploration programme included ground geophysical surveys, diamond drilling and geological mapping and prospecting (Figure 5-4). Four geophysical grids extended across 151 km along four grids. Geophysical surveys included magnetics, gravity, TEM and horizontal loop EM. These geophysical grids were designed to investigate the Ni-Cu enriched intrusion and airborne EM anomaly located in the Qullissat area on Disko Island.

Figure 5-4:      Exploration summary, Falconbridge 1994

Sources: Olshefsky et al, 1995.

Several dykes were sampled in the region between the coastal section at Qullissat and the Kuugannguaq valley. Most samples returned normal levels of Ni and Cu. Two dykes had depleted levels of Ni and Cu; these occurred in close proximity to the Kuugannguaq Member eruption site.

Drilling

Seventeen diamond drill holes totalling 3,145.74 m tested new geophysical targets related to sill and dyke subvolcanic intrusives at Serfat, the Itilli Valley (Figure 5-5), and the Sarqaq Valley and continued investigations at Qullissat (Figure 5-6). Falconbridge acquired another Longyear Fly-in-38 rig for the 1994 season.

Drilling in the Serfat area was designed to test several magnetic, gravity and EM features of the Serfat Sill Complex (Table 5-3). Three holes identified a large intrusive complex of picrite and quartz dolerite confirming the source of the geophysical targets. These holes also intersected underlying sedimentary units and gas-rich carbonaceous units. Two of the holes intersected a large thickness of overburden and were abandoned at shallow depths.

Table 5-3:       Summary of drilling the Serfat area

Sources: Edited from Amec Foster Wheeler, 2015

Four holes were completed in the Itilli Valley area (Table 5-4) to intersect EM trends and test for Ni-Cu mineralisation within the Maligât and Vaigat mafic sill and dyke units. No indications of massive or economic Ni-Cu bearing sulphide zones were intersected. The drilling identified fault gouge, pyritic bands and weathering horizons corresponding to the EM anomalies.

Table 5-4:       Summary of Falconbridge drilling in the Itilli Valley area

Sources: Edited from Amec Foster Wheeler, 2015

Figure 5-5: Falconbridge drilling 1994 in the Serfat and Itilli Valley areas

Sources: SRK EX 2026

Drilling at Qullissat aimed to follow on from the elevated Ni and Cu values intersected in the 1993 hole and define the geometry of the Ni-Cu enriched Qullissat sill. The drilling confirmed carbonaceous Cretaceous sediments intruded by several mafic sills, most notably the Qullissat sill (Table 5-5). This sill however returned low grades for Ni and Cu and no significant sulphide accumulations. The pyrrhotite-bearing iron cumulate zone intersected at the base of the Qullissat sill displays sporadic, micron-scale gold with Au grades reaching 14.8 g/t in the magnetic fraction separated from this material.

Table 5-5:      Summary of drilling in the Qullissat area

Sources: Edited from Amec Foster Wheeler, 2015 

Drilling in the Sarqaq Valley targeted EM anomalies and a corresponding ring-like dyke feature exposed on surface. The drilling confirmed poorly lithified Cretaceous sedimentary lithologies with limited mafic intrusions (Table 5-6). No significant Ni-Cu bearing sulphides were intersected. Two gabbroic dykes were intersected in one drillhole but Ni-Cu grades were not enriched.

Table 5-6:      Summary of drilling the Sarqaq Valley area

Sources: Edited from Amec Foster Wheeler, 2015

Figure 5-6:      Falconbridge drilling 1994 in the Qullissat and Sarqaq Valley areas

Sources: SRK EX, 2026

Sampling of the Falconbridge drill core in 1994 involved whole rock sampling collecting several pieces of core 5 to 10 cm in length over a 1 m interval. Samples were shipped to Lakefield Research Analytical Services in Lakeland, Ontario at the end of the field programme and analysed for eleven major oxides and As, Ba, Nb, Rb, Sr, Y, Zr, Zn, Ni, Co and S. Standards were submitted alongside the samples.

The 1996 exploration programme included ground time-domain EM and magnetic surveys in the Igdlukunguaq area. The aim of this was to determine the eastern extent of an EM conductor identified in 1993 and to investigate the mineralised area of the Igdlukunguaq dyke. Conductors associated with the dyke could not be traced further east as continuous features, although intermittent conductive zones were found along strike indicating that the dyke may be disrupted by faulting or later intrusions.

Technical issues associated with the drilling operations caused Falconbridge to cease exploration efforts at Disko.

While Falconbridge was exploring in the area, grønArctic Energy Inc. owned a licence covering the Aaffarsuaq Valley and the southwest coast of the Nuussuaq Peninsula. Their aim was primarily to investigate the potential of the Cretaceous-Palaeocene volcanic and sedimentary stratigraphy for hydrocarbons, and to evaluate the feasibility of drilling for onshore petroleum deposits. A total of eight holes were drilled using wireline diamond drilling core rigs, including one to the north of the peninsula in the Tunorsuaq Valley (Figure 5-7).

Drilling confirmed the presence of a petroleum system with a shallow oil-prone source and deeper, pressurised gas-prone source. Mechanical and pressure problems experienced during this drilling caused grønArctic to cease exploration. Their observations, summarised below, are however useful in informing future exploration on the Nuussuaq Peninsula.

Figure 5-7: grønArctic drilling on the Nuussuaq Peninsula, 1993 – 1996

Sources: SRK EX, 2026

Notes: 1993 (Marraat-1), 1994 (GANW-1), 1995 (GANE-1, GANE-1A, GANK-1, GANK-1A, GANT-1), 1996 (GRO-3).

¹Holes labelled with suffix ‘A’ are drilled side-track holes.

Figure 5-8:      grønArctic Marraat-1 drill hole set up

Sources: Dam & Christiansen, 1994.

Drillhole GANW-1 drilled roughly 800 m of Vaigat Formation lavas (Anaanaa Member) without reaching the underlying sedimentary sequence. GANE-1 was drilled to 641 m, with about the upper 500 m in Anaanaa volcanics and around 150 m of underlying sandstones and mudstones, while the sidetrack GANE-1A intersected sediments between 533 and 707 m and cut a 7 m picrite sheet near 690 m. At GANK-1, Vaigat lavas of the Naujánguit and Anaanaa members were drilled to 115 m, below which sediments continued down to 399 m; the GANK-1A sidetrack encountered sediments from about 219 to 333 m, plus several intrusions, among them an approximately 10 m thick dolerite sheet at about 340 m.

GANT-1 drilled approximately 900 m with the main recovered lithology being clastic sediments cut by 14 thin volcanic units. GRO-3 was grønArctic’s deepest hole reaching almost 3,000 m. The top 300 m comprised volcanic rocks overlying a thick sedimentary succession of sandstones, mudstones/shales and tuffaceous units, in which 39 igneous intrusions with a combined thickness of 145 m were recorded, most abundant between 500 and 650 m and including a thick body between roughly 2,625 and 2,650 m.

The Maarrat-1 drillhole (Figure 5-8) confirmed results from previous fieldwork, where porous basalt zones containing liquid oil down to a depth of 86 m were intersected.

Some of the operational problems encountered during this drilling included:

Evidence of a hydrocarbon system were observed in multiple holes via gas burns in flair line, small bubbles of air/gas in drilling muds, however significant accumulations were not discovered.

Logging, sampling and analysis of the recovered drill core was tailored to hydrocarbon exploration including Leco/RockEval pyrolysis, vitrinite reflectance, gas chromatography, head space gas consumption and water geochemistry.

Onshore and offshore exploration for minerals and oil was carried out by Sander Geophysics Ltd on behalf of the Geological Survey of Denmark and Greenland (“GEUS”), as part of the five-year airborne geophysical programme. This included the acquisition of EM and magnetic data.

In 2000, offshore seismic surveying was carried out in the Vaigat Strait and along the western and northern coasts of the Nuussuaq Peninsula by the Greenland Bureau of Minerals and Petroleum, in collaboration with the Danish Energy Research Programme, the Geological Institute at Aarhus University, GEUS.

In 2003, Titan-24 magnetotelluric (“MT”) surveys were performed on traverses across the Kuugannguaq Valley, the Igdlukunguaq area in northwest Disko Island and the Aaffarsuaq Valley on the Nuussuaq Peninsula by Quantec Geoscience on behalf of Vismand Exploration (Figure 5-9). Further surveys were conducted in the Qullissat area and the coastal section between Kuugannguaq and Qullissat in 2004, and an additional survey was conducted perpendicular to the 2003 survey in Kuugannguaq.

Figure 5-9: Quantec/Vismand MT survey areas, 2004

Sources: Quantec Geosciences, 2004

The 2003 survey identified significant MT responses in Kuugannguaq and Aaffarsuaq at depths of 500 to 1,200 m.

The 2004 traverses confirmed the presence of a N-S trending conductive anomaly in the Kuugannguaq valley. The top of the conductors was well defined at 700 m depth and estimated at a vertical to steep west dip. Two conductive features were identified in the Qullissat area. Only one feature could be defined in the coastal section between Kuugannguaq and Qullissat.

These surveys were later reprocessed by Quantec Geoscience on behalf of Bluejay mining in 2019 and later incorporated into KoBold’s work.

In 2007, Vismand drilled three holes on the Nuussuaq Peninsula (Figure 5-10) testing geophysical targets previously identified in 2003 and 2004 up to depths of 1200 m. Two gas incidents occurred however that ceased Vismand’s operations.

Figure 5-10: Vismand drilling in the Aaffarsuaq valley on the Nuussuaq Peninsula, 2007

Sources: Hy-Grade Geoscience, 2007

Three holes (V-GRN-1, -1A and -2) were drilled by Vismand Exploration in the 2007 field season (Figure 5-11) in the Aaffarsuaq Valley using an air rotary rig to drill and case through the soft overburden and then a Longyear LDS 55 diamond drill rig to continue to depth (Figure 5-12). The rigs were transported overland via a ~30 km long road that Vismand constructed from the coast eastwards to the drilling area.

The deepest hole only reached a depth of 154.45 m, failing to reach bedrock due to thick overburden. All holes were all abandoned early due to the difficulty of drilling thick overburden and encountering overpressured gas-cut water. The drill strings and bottom hole assemblies for V-GRN-1 and V-GRN-2 were left in the holes. The planned drilling depths of 1,200 m were not achieved and Vismand’s targets remain untested.

Figure 5-11: Vismand drill collar locations in the Aaffarsuaq Valley on the Nuussuaq Peninsula, 2007

Sources: SRK EX, 2026

Notes: Holes labelled with suffix ‘A’ are drilled side-track holes.

Figure 5-12: Diamond drill rig at V-GRN-1

Sources: Hy-Grade Geoscience, 2007

Avannaa Resources focused their 2012 field activities around the northern part of the Kuugannguaq Valley on Disko Island. In May 2012, a helicopter-borne Z-axis tipper electromagnetic (“ZTEM”) and aeromagnetic geophysical survey was completed in the licence area. This covered a total of 278 km² (Figure 5-13). Several conductive structures were identified which correspond with the previous Titan-24 MT responses.

Figure 5-13: Coverage map of 2012 ZTEM survey

Sources: Avannaa Resources, 2014

In September 2012, a pilot seismic study was carried out along a 1,300 m N-S profile, with 96 channels, 3.7 m geophone spacing and 11.25 m source spacing. The source was NSP711 explosive detonated in a non-destructive blast at a depth of 80 to 130 cm.

Further to the pilot seismic study, a vibro-seismic survey was conducted in the Kuugannguaq Valley (Figure 5-14) in 2013 as well as a ground magnetic survey in the northern part of the Kuugannguaq Valley on Disko. A 3D inversion of the ZTEM data was performed by Mira Geoscience. Several distinct bodies were observed in the Kuugannguaq and Aaffarsuaq valleys. Additionally, a study into the feasibility of drilling was conducted by WellPerform and Ross Engineering.

Interpretation of the vibro-seismic data identified bodies that thought to be intrusions dipping in various directions beneath Kuugannguaq Valley (Figure 5-15, Clausen and Nørmark, 2014). These are bounded on the east by a westward dipping major fault and are generally elongated in a NW- SE direction; however, the western delineation is uncertain. The bodies interpreted to be intrusives are present at various depths, bound at the top by the base of the Recent sediments in the valley, but it was not possible to estimate their thickness or thickness variations. No intrusive sills were identified in the interpretation.

Figure 5-14: Vibro-seismic lines in the Kuugannguaq Valley

Sources: Avannaa Resources, 2014

Figure 5-15: Seismic section from south to north through the Kuugannguaq Valley with interpreted intrusions (from Clausen and Nørmark, 2014)

Sources: Avannaa Resources, 2014

AMEC (2014) concluded that locating mafic sills based only on the seismic data without additional knowledge of the lithologies in the area (coal beds, shales, conglomerates, etc.) and clear definition of polarity is a challenge. They recommended that identifying a conductor with a coincident strong seismic reflection might be the best targeting approach but noted that a conductor could be related to shales and/or carbonaceous units. AMEC also highlighted several limitations in the processing and interpretation of this seismic data which constrain the reliability of the data for targeting further exploration, including:

Mira Geoscience continued modelling the magnetic data in Kuugannguaq and the Aaffarsuaq Valley to assist with drill targeting. Avannaa’s exploration efforts were finalised with a preliminary environmental evaluation and drill design study, but funding for this drilling was never secured and it did not go ahead.

While Avannaa were exploring at Disko, privately-owned Coastal Ventures A/S, undertook drilling and field reconnaissance activities on Disko between Qullissat and Igdlukunguaq, and on the Nuussuaq Peninsula west of the Sarqaq Valley. Their work targeted coal and non-coal resources.

While an accompanying report of Coastal Ventures drilling programme in 2013 is not available, SRK EX has received scanned paper logs from two drillholes completed in the 2014 season, and collar coordinates and drilled depths for a further five holes completed in 2013 (Figure 5-16). There is little other information available for this drilling. Logs state that voids and issues with hole casing led to the early abandonment of CV-NUS-020 and CV-NUS-008 at depths of 336 m and 335 m, respectively. Results mention that less coal was discovered than originally presumed and only one coal seam was encountered in CV-NUS-020 (Figure 5-17).

Figure 5-16: Coastal Ventures drilling on the Disko-Nuussuaq project 2013 - 2014

Sources: SRK EX, 2026

In early 2017, FinnAust Mining (subsequently rebranded as Bluejay Mining and now 80 Mile PLC) acquired Coastal Venture’s mineral exploration licences, which were subsequently renewed by the Greenland government.

Figure 5-17: Coal intersected in hole CV-NUS-020

Sources: Coastal Ventures, 2014

Notes: CV-NUS-020, 208 – 208.50 m

Historical exploration on Disko Island and the Nuussuaq Peninsula has been of value in increasing the geological understanding of this area and generated targets that are worth further investigation. Although none of the work identified direct evidence of magmatic nickel sulphide mineralisation, this is not a reflection of the area’s prospectivity; many targets were not tested properly due to a high rate of drillhole abandonment related to difficult ground conditions, loss of equipment in the holes, and the presence of over-pressured gas-cut water impacting the circulating drill fluids. Approximately 60% of all drillholes were either abandoned or terminated before the target depth.

The Disko-Nuussuaq Project is located on the central west coast of Greenland, within the West Greenland Igneous Province, part of the broader North Atlantic Igneous Province (“NAIP”). The region occupies the western margin of the Greenland Craton and records a geological history spanning Archean crustal formation, Mesozoic rifting, and extensive Palaeocene volcanism associated with the opening of the Labrador Sea and Baffin Bay (Figure 6-1).

The oldest rocks in the region comprise Archean to Paleoproterozoic (3.8 to 2.8 Ga) crystalline basement belonging to the Rae craton. These rocks consist predominately of gneisses, granitoids, metavolcanic rocks and associated supracrustal sequences that were subsequently reworked during the Paleoproterozoic tectonothermal events associated with the Nagssugtoqidian Orogen. These once mountainous belts were slowly eroded during a long period of tectonic stability, forming a relatively flat, low-lying continental plain (Ansulemi, 2009). The basement formed the foundation upon which younger sedimentary and volcanic successions were deposited.

During the Early to Late Cretaceous (145 to 130 Ma), regional extension associated with the progressive separation of Greenland from North America associated with the break-up of the supercontinent Pangea resulted in the formation of a series of fault-bounded sedimentary basins, referred to locally as the Nuussuaq basin. Sea floor spreading initiated in the south at 70 Ma, propagating north through the Davis Strait into Baffin Bay by 60 Ma. These basins accumulated several kilometres of fluvial, deltaic, and shallow marine sedimentary rocks comprising sandstones, mudstones, carbonaceous shales and coal-bearing units. Basin development was controlled by major normal fault systems and transfer structures that established the structural architecture subsequently exploited by ascending magmas during Palaeocene volcanism.

Continued lithospheric extension culminated during the Palaeocene with the onset of voluminous magmatism associated with the North Atlantic Igneous Province. Volcanic activity between approximately 62 and 58 Ma generated extensive flood basalt sequences preserved across Disko Island, the Nuussuaq Peninsula and adjacent offshore areas. The volcanic succession is traditionally subdivided into the Vaigat, Maligât, Svartenhuk and younger volcanic formations, with the Vaigat Formation comprising high-MgO picritic and basaltic magmas and the Maligât Formation representing the main phase of tholeiitic flood basalt volcanism. The combined volcanic volume is estimated to exceed 90,000 km³ regionally.

The West Greenland Igneous Province is notable for widespread evidence of magma-sediment interaction. Numerous volcanic units, intrusions and feeder systems contain evidence of crustal contamination through interaction with carbonaceous and sulphur-bearing sedimentary rock of the Nuussuaq Basin. This interaction resulted in sulphide saturation within portions of the magmatic system and is considered a fundamental process in the generation of magmatic Ni-Cu-Co PGE mineralisation throughout the region.

Following cessation of major Palaeocene volcanic activity, the West Greenland margin experienced a period of tectonic inversion during the Oligocene. Regional compression associated with changes in the North Atlantic plate margins resulted in reactivation of earlier rift structures, causing local uplift, basin inversion and renewed fault movement. This is evidenced by local folding and tilting of the Cretaceous and Palaeocene successions.

Subsequent uplift and glacial erosion since the Neogene (~23Ma) further modified the landscape and contributed to the present day exposure or the volcanic and sedimentary succession.

Figure 6-1: Onshore geology of Greenland.

Sources: St. Onge et al. 2009

Figure 6-2: Simplified geological map of West Greenland and the Nuussuaq Basin.

Sources: Larsen & Pedersen, 2009.

Notes: Based on Escher & Pulvertaft (1995), Chalmers & Pulvertaft (2001), Oakey (2005) and Gregersen et al. (2007). C, Cape Dyer, D, Disko, N, Nuussuaq, S Svartenhuk Halvø

The Disko-Nuussuaq district comprises Archean crystalline basement overlain by Cretaceous to Palaeocene sedimentary rocks of the Nuussuaq Basin and Palaeocene volcanic rocks of the West Greenland Igneous Province (Figure 6-3). The sediments are preserved within fault-bounded basins developed during Cretaceous extension, whilst the volcanic succession comprises thick sequences of picritic and basaltic lava flows emplaced during Palaeocene rifting and continental break-up (60.5 and 59.4 Ma). Major fault systems exerted a strong control on both basin development and magma emplacement (Chalmers 1999, Storey et al., 1998)

Disko Island is separated from Nuussuaq and the mainland by the Vaigat Sound in the east and the Disko Bugt sound to the south.

Figure 6-3: Local geology of the Disko-Nuussuaq area

Sources: Modified from Dam & Pedersen. 2009

Notes: Licence areas held by Nikkeli indicated in red. Ik, Ikorfat Fault Zone; DGR, Disko Gneiss Ridge; KQ, Kuugannguaq– Quinnlik Fault

The Precambrian basement underlying the Disko-Nuussuaq region is generally covered within the licence areas and only outcrops in a few places (Figure 6-3) . Although the basement itself is not considered a primary exploration target for magmatic Ni-Cu-Co-PGE mineralisation, its structural architecture exerted a first order control on the Nuussuaq basin, affecting localisation of major fault systems and subsequent ascent of Palaeogene magmas associated with the West Greenland Igneous Province. Therefore it is useful to understand or infer the basement composition and architecture from outcrop or mainland proxies.

The Precambrian basement underlying the Disko-Nuussuaq region forms part of the Rae Craton, one of the plates welded together to form the Laurentian shield. Locally, these rocks are Archean to Paleoproterozoic in age, and comprise gneisses, granitoids, metavolcanics and supracrustal successions that were subsequently reworked during the Paleoproterozoic Nagssugtoqidian Orogeny (Pulvertaft, 1999). It was extensively modified during the Cretaceous extension, resulting in the development of fault-oriented basins subsequently infilled by sedimentary rocks of the Nuussuaq Basin.

Lithologies on Disko Island where observed comprise tonalite-trondhjemite-granodiorite (“TTG”) gneisses together with metavolcanic and metasedimentary rocks of Archean affinity.

Although basement rocks underlie the entire project region, they can only be observed at surface east of the project area on the mainland, and locally on Disko Island along the Disko Gneiss Ridge in nearby valleys. This is because the basement was downthrown to the west by the action of the major basin-bounding fault systems, the Eastern Boundary Faults, with the exception of the ridge, which represents an area of localised uplift.

The basement east of the Nuussuaq Basin essentially displays the footwall to the rocks which have been downthrown under the project area. They comprise Archean greenstone belt assemblages including greenschist-facies mafic volcanics, metapillow lavas and associated gabbroic to doleritic intrusions (Pulvertaft, 1999; Marshall and Schonwandt,1999). The deformation in this area is stated as less intense than elsewhere in the Nagssugtoqidian Orogen and preserves many of the primary lithological relationships Garde and Steenfelt (1999).

The Disko Gneiss Ridge, (DGR on Figure 6-3), is a N-S trending elevated area controlled by the Kuugannguaq-Quinnlik fault system developed from rift-related block uplift occurring during the Eocene and later stages of basin evolution.

In the basement directly south of Disko Island lies a large East-West oriented suture zone of Precambrian origin, marked as the Disko Bugt Suture on Figure 6-1. This structure represents the boundary between rocks from the Rae craton from rocks of the Nunatarsuaq Group in the south. This suture zone was formed by tectonic accretion of Laurentia by the collision of the Rae Craton with the Aasiaat and North Atlantic cratons to the south during Nagssugtoqidian Orogeny (1.86 to 1.84 Ga; St-Onge et al., 1999; Escher & Pulvertaft, 1999), forming the Rinkian fold belt. Old, long-lived structures such as this have the potential to act as conduits for fluid migration, including acting as magma conduits. Although it is south of the project area, its structural orientation is useful since similar subordinate structures may exist directly under Disko-Nuussuaq.

The Cretaceous to Palaeocene sediments of the Disko-Nuussuaq region belong to the Nuussuaq Group and unconformably overlie the Precambrian basement in a system of smaller, linked, fault-controlled basins collectively referred to as the Nuussuaq Basin.

The Nuussuaq Basin is the only exposed Cretaceous to Palaeocene sedimentary basin in West Greenland, and forms part of a larger system of linked rift basins extending from the Labrador Sea to Baffin Bay. As a result, the local area has been subjected to several stratigraphic studies for hydrocarbon exploration across recent several decades wherein onshore geology was used to formulate proxies for both local and offshore targeting.

The onset of basin development occurred during a period of Late Mesozoic extension associated with progressive opening of the Labrador Sea and was strongly controlled by major fault systems along the West Greenland margin (Chalmers et al.,1999; Dam et al., 2009).

Thick succession of non-marine to marginal marine sedimentary rocks deposited within fault-controlled depocentres which are collectively referred to as the Nuussuaq Group. It includes basal conglomerates and breccias deposited from the late Albian, overlain by fluvial to deltaic sandstones, mudstones, carbonaceous shales and coal-bearing intervals. The sedimentary thickness varies significantly across the basin, reflecting syn-depositional fault movement, basin relief and differential subsidence. The total thickness can vary as much as from 1 to 8 km with thickest sediments in the west and shallowest to the east reflecting the basin subsidence pattern. It is extensively preserved in the project area, and generally overlain beneath thick volcanic successions of Palaeocene or later age (Dam et al., 2009; Pedersen and Larsen, 2006).

Locally, these rocks are sub-divided into the Atane, Itilli, Kangilia, Eqalulik and Atanikerluk formations. They collectively record repeated changes in depositional environment from deep marine basins to deltaic and coastal plain settings. These sediments are locally intruded by igneous sills and dykes of younger age (Chalmers, 1999).

The carbonaceous shale, mudstone and coal-bearing intervals of the Nuussuaq Group are considered particularly significant to the magmatic Ni-Cu-Co-PGE exploration model owing to their sulphur content and plausibility as a source of crustal sulphur and carbon, both of which contribute to sulphide saturation during magma ascent and emplacement. Further, the presence of reducing, carbonaceous sedimentary rocks is also consistent with the development of native iron-bearing and sulphide-bearing volcanic and intrusive rocks documented elsewhere in the Disko-Nuussuaq district.

Although the Cretaceous Nuussuaq Group sediments are not the primary exploration target, the unit’s distribution, thickness and structural relationship with Palaeocene magmatic feeder systems are critical for understanding regional prospectivity. Areas where primitive mafic to ultramafic magmas interacted with sulphur-bearing sedimentary rocks, particularly along major faults and basin margins are considered favourable settings for the development of magmatic sulphide mineralisation.

The Cretaceous rocks are well studied east of the flood basalt terrain on eastern Disko from hydrocarbon exploration.

The Cretaceous sedimentary rocks of the Nuussuaq Basin are overlain by an extensive volcanic succession belonging to the West Greenland Igneous Province. Magmatism during the Palaeocene continental break-up created extensive deposits that are dominated by basaltic and picritic lava flows with subordinate volcaniclastic deposits, intrusions and locally contaminated volcanic units. These units trace an environmental change from submarine to terrestrial deposition as volcanism filled marine basins. Subsequently the rocks are co-eval with several sedimentary successions, which together form a relatively complex and highly localised distribution; in part owing to both local faulting and the evolution of multiple volcanic vents and fissures, illustrated by Figure 6-4.

Figure 6-4: DIsko Island geology and Palaeocene stratigraphy

Sources: After Ulff-Møller, 1985, Ulff-Møller, 1990, Klöck et al., 1986, Pedersen et al., 2017, Pedersen et al., 2018

Notes:(a), simplified geological map (b), and stratigraphic subdivision of the Paleocene volcanic rocks and sediments (c) of Disko Island. Nus. Qa. Mb – Nuusap Qaqqarsua Member; Qo. Mb – Qordlortorssuaq Member.

Stratigraphic subdivision of the Paleocene volcanic rocks and sediments on Disko and Nuussuaq. The 'thicknesses' of the units in the diagram are intended to approximately reflect their volumes although this is not always possible. The ringed units do not extend throughout the succession, and the small ones are distinctly local. Crustally contaminated units are shaded red, and alkaline units in purple (red outline indicating contamination), geochemically enriched units have a dashed outline. Abbreviations (in stratigraphic order): Nus. Qa. Mb: Nuusap Qaqqarsua Member. He: Henderson unit. Ta: Tunorsuaq-a unit. Ni: Niiortuut unit. Tb: Tunorsuaq-b unit. Uk: Ukallit unit. St: Stordal alkaline unit. Qo. Mb: Qordlortorssuaq Member. cbs: contaminated basalts in Stordal. ap: alkali picrites associated with the Manitdlat Member. The lower and upper Rinks Dal Member are further subdivided into a number of chemostratigraphic units not shown. Sediment members from Dam et al. (2009): Marine mudstones are grey, non-marine mudstones are brownish-grey, sandstones are yellow and coal layers are black..

The principal volcanic units are the Vaigat Formation and the overlying Maligât Formation, with younger Svartenhuk and post-Maligât volcanic units occurring locally (Table 6-1).

Sources: Chalmers, 1999

Vaigat Formation

The earliest major phase of volcanism in the Disko-Nuussuaq region is represented by the Vaigat Formation and comprises picritic to basaltic lava flows, hyaloclasites, and associated feeder systems. The formation is characterised by primitive, high Mg-O magmas and includes several units that show evidence of interaction (“contamination”) with sedimentary rocks of the Nuussuaq Basin. Picritic magmas are those composed of picrite, a dark heavy silica-poor (ultramafic) igneous rock. Picritic rocks are generally rich in magnesium and iron and compose very fluid, high-temperature lavas with a low silica content .

The Vaigat is separated into three main episodes which are again divided into several members and units Figure 6-4.

Its total thickness varies up to 1,600m and is thickest on the western Nuussuaq peninsula. During the second and third episodes, volcanism spread eastwards and southwards forming a domed shield-like structure spreading from west Nuussuaq, south over Disko Island and east over the Precambrian basement towards the mainland. Different units vary in volume, extent and so the lateral distribution is highly variable across the project area.

Volcanism originated in a seawater environment and so earlier successions are intercalated with marine sediments. Successive lavas also trace a change in polarity of the geomagnetic field (Pedersen & Larsen, 2017). Each member records a magmatic cycle starting with primitive picritic magmas and ending with more evolved, usually contaminated magmas (Harald and Pedersen, 1975; Pedersen et al., 1996; Larsen and Pedersen, 2009).

The contaminated marker beds observed in the Vaigat demonstrate that their Mg-rich magma has reacted with sediments during magma migration and ascent through the deeper, underlying Cretaceous sediments and basement.

While less significant in volume, the older Vaigat Formation is considered more prospective for magmatic Ni-Cu-Co-PGE mineralisation due to its primitive magma chemistry and stronger evidence for crustal contamination.

Contamination occurs through reaction whereby metals and other elements can be stripped from the host rock and adopted into the magma. These units can be differentiated based on MgO and SiO2 percentages (Pedersen & Larsen, 2007) as well as from elemental depletion. These contaminated members are noted to have individually distinct compositions, indicating changing conditions of contamination. Oil seeps are noted from mapping and drilling.

Magma chambers are believed to have developed within the Cretaceous Nuussuaq Group, and fractionated sulphides bearing Cu and Ni have been detected in some of the contaminated magmas in the Asuk and Kuugannguaq subordinate members.

Crustally contaminated lava flows, tuffs, dykes, volcanic necks and craters are widespread on Disko and Nuussuaq (Gulbrandsen, 2014). These contaminated Vaigat volcanic rocks locally contain native iron, graphite-bearing assemblages, sedimentary xenoliths and sulphide-bearing material indicating interaction between ascending magma and carbonaceous sedimentary rocks Figure 6-5.

Vaigat Contaminated Sequences have been reasonably well studied and are well described in

Amec’s Technical Report on the Disko Nuussuaq Project for Avannaa from 2015.

The contaminated units include three small, local units that occur in northern Nuussuaq (Tunorssuaq a and b) and Disko (Stordal alkaline centre) (Larsen and Pedersen, 2009); and five large, extensive members Table 6-2.

Table 6-2: Contaminated units summary

Sources: Adapted from Larsen & Pedersen 2009

Figure 6-5: Contaminated Vaigat Asuk Member

Sources: Pedersen & Larsen, 2018

The eruption sites for several of these contaminated units are illustrated in Figure 6-6 below.

Figure 6-6: Eruption sites for contaminated units

Sources: 80 MIle, 2025

Maligât Formation

The Maligât Formation represents the main volumetric phase of tholeiitic flood basalt volcanism in the region and conformably overlies the picritic and basaltic rocks of the Vaigat. The formation is widely exposed across Disko Island and Nuussuaq, forming extensive plateaus and prominent cliff-forming escarpments.

The rocks are more evolved than the Vaigat Formation, representing a transition from picritic magmatism of the Vaigat Formation to more evolved tholeiitic basaltic volcanism, reflecting the continued development of the North Atlantic Igneous Province.

Rocks comprise laterally extensive subaerial basaltic lava flows, and associated subordinate volcaniclastic and sedimentary interbeds. Individual lavas can me several tens of metres thick, while the succession can exceed over 2km in thickness from repeated fissure-fed volcanic events across the region.

Maligât Formation rocks are described as olivine-poor tholeiitic basalts, and less magnesian, contrasting strongly with the Vaigat. It is divided into multiple component members, and fewer occurrences of crustal contamination are noted. It represents widespread flood basalt volcanism that buried earlier volcanic centres, basins and topographic relief that developed during the Vaigat.

Svartenhuk Formation and decline of Volcanism

Volcanic activity continued to a lesser extent through the late Palaeocene and into the Eocene, however these lavas are not well preserved in the project area.

These include the Svartenhuk Formation, Naqerloq and later alkaline volcanic events which occurred across the broader West Greenland volcanic arc succession.

These unit post-date the two earlier phases and are generally more limited in extent within the project area. They represent continue magmatic activity and are compositionally distinct from their predecessor the Vaigat and Maligât, representing small-volume, mantle-derived magmas. On Nuussuaq the Eocene Naqerloq Formation is present, the west of the Itilli fault. Sills are also observed in south Nuussuaq and on western Disko associated with Eocene lavas. These dykes and sills can be determined as Eocene age since they are compositionally different from older Palaeocene volcanics (Pedersen, 2018).

Intrusive Rocks

Intrusive rocks associated with the volcanic succession include dykes, sills and possible feeder conduits emplaced into both the sedimentary succession and earlier volcanic rocks. These intrusions are important as they represent potential magma transport pathways between deeper magmatic sources and the preserved volcanic pile. Ascending magma adopts the pathway of least resistance, and this is frequently brecciated or weak zones of faulting, so these conduit systems are commonly associated with major fault systems and basin margins.

Chalmers (1999), and Pedersen and Larsen (2006), both describe how fault re-activation channelled magma from deep sources into shallow chambers and then to eruption sites, forming the substantial thicknesses of basalts that overlie the sediments.

Sills are common in the Cretaceous and its noted they may be laterally very continuous. Contact metamorphism if widespread with hydrothermal alteration as hot magma were emplaced into organic-rich mudstones, sandstones and coal-bearing strata. Larger intrusions are noted in doleritic to gabbroic composition and can exhibit evidence of crustal contamination. The assimilation of carbonaceous and sulphur-bearing sediments has been documented in several intrusive complexes and is reflected by the occurrence of graphite-bearing xenoliths, sulphide mineralisation and more locally, native iron-bearing lithologies.

Intrusions within fault planes are also documented in the Sarqaq area as undeformed dolerites dated at approximately 54.7 Ma (Storey et al. 1998), inferring that movement here ceased by 55 Ma.

The local structural architecture of the Disko-Nuussuaq region reflects multiple phases of extension, volcanism, and subsequent tectonic inversion associated with the development of the West Greenland continental margin.

Dominant structures include basin-bounding normal listric faults, transfer faults and deep-seated crustal lineaments that controlled sediment deposition within the Nuussuaq Basin and later influenced emplacement of Palaeocene magmas associated with the West Greenland Igneous Province. Subsequent episodic inversion reactivated parts of this structural framework.

Cretaceous Rift Architecture

Development of the Nuussuaq Basin was controlled by regional extensional tectonics during the Late Cretaceous. These faults accommodated significant crustal extension during the Cretaceous and form an oblique and complex margin of linked rifted basins.

Two episodes of regional rifting and basin development have been established in the region by Dam and Sønderholm 1998, Dam et al. 2000; Chalmers & Pulvertaft, 2001 Dam, 2002; and Sørensen 2006) during the early Cretaceous and late Cretaceous to early Palaeocene.

Figure 6-7: Geological and structural overview of Disko Island and the Nuussuaq Peninsula

Sources: GEUS Geology; SRK EX, 2026

Notes: EBFS: Eastern Boundary Fault System; K-Q : Kuugannguaq – Quinnlik fault; It: Itilli fault; A : Agatdalen fault; Ik: Ikorfat; Ku: Kuuk fault. Refer to Figure 6 6 for legend.

Figure 6-8: Project stratigraphy and map legend

Sources: SRK EX. 2026

Notes: Legend denoting geological, structural and historical boreholes – simplified for brevity. Refer to Figure 6 5, Figure 6 7, Figure 6 11.

There are three main fault systems transecting the project area from east to west, the Eastern Boundary Faults (EBFS or Kuuk–Sarqaq–Qeqertaq), the Kuugannguaq–Quinnlik (KQ) fault, and the Itilli fault (IT)(Figure 6-7).

These faults generally dip westward between 47 and 73° and include listric faults with as much as 2 km westward offset. Many faults are detectable from both surface geology and seismic basin studies. (Rosenkrantz & Pulvertaft, 1969; Pulvertaft, 1979, 1989). It is considered that fault progression started in the east and progressed westwards however this required further study.

Itilli Fault

Within the project area, the Itilli Fault intersects the western end of the Nuussuaq Peninsula. It is a steeply dipping normal fault and downthrows sediments to the northwest. The fault is a principal basin-bounding fault and potential extension to the Ungava Transform Fault system which separates Greenland from Baffin Island (Larsen and Pedersen, 1992). Movement on the fault has not been directly dated but is constrained by stratigraphy as originating during the Late Cretaceous and continuing to be active throughout Palaeocene magmatism (Chalmers, 1999). It was also locally reactivated during the Eocene-Oligocene basin inversion, (Dam, 2007).

Kuugannguaq-Quinnlik Fault

Initiating in the vicinity of the Itilli Fault in northern Nuussuaq, The K-Q Fault runs NNE-SSW via a series of interlinked faults from Nuussuaq peninsula, through the Vaigat Sound and across the full extent of Disko Island. It is less well studied than the Itilli but is regarded as a long-lived, basin-scale fault active during the Late Cretaceous and throughout the Palaeocene. It is considered to be a steep basement-related structure which played an important role as a magma conduit (Dam, 1997, 2009; Chalmers, 1999).

Eastern Boundary Faults / Kuuk-Sarqaq-Qeqertaq

The eastern boundary faults delineate the eastern basin margin contact with Precambrian basement to the east. The are a series of stepped and linked normal and transform faults with a complex ramp structure in the north in the vicinity of the Ikorfat fault zone. It is a system of NNW-SSE trending normal faults and associated W-E to WNW-ENE trending transfer faults.

These fault zones are discussed in more detail in section 6.3. These three structures and associated sub-ordinate faults collectively controlled basin development, magma emplacement and preservation of the volcanic succession. Their orientation and development would have been influenced by pre-existing weaknesses and faults in the Precambrian basement, however, little is known of these since there is very little basement outcrop in the local area.

Since the Precambrian structures will be deeper, it will be important to determine which may have been activated or re-activated during the magmatic events to assess the potential to act as magma conduits.

Structural controls on volcanism

Palaeocene magmatism within the Disko-Nuussuaq region was strongly influenced by the pre-existing structural framework established during Late Cretaceous rifting acting as pathways permitting magma to ascend. Major basin-bounding faults and inherited basement structures remained active or were reactivated during volcanic emplacement, providing pathways for magma ascent and exerting significant controls on the distribution of volcanic centres, intrusive complexes and volcaniclastic deposits.

Field relationships throughout the project region indicate that volcanic and intrusive activity was commonly localised along pre-existing fault zones. Reactivation of these structures during volcanism likely enhanced crustal permeability, facilitating magma transport through both the sedimentary succession and the developing volcanic pile.

It has been observed that numerous volcanic centres, dyke swarms and intrusive bodies occur with and display spatial relationships with N-S and NNE-SSW trending fault systems that parallel the dominant structural grain of the basin established during the Cretaceous. The nature of listric faults lend themselves to act as magma conduits, since they are generally large, deep zones of brittle deformation and fracture extending deep both vertically and laterally often running several kilometres into the crust. These zones exhibit enhanced crustal permeability that facilitated repeated magma ascent from deep, and through the sedimentary succession and the overlying volcanic pile.

The Kuugannguaq-Quinnlik (“K–Q”) fault zone has been studied for its relationship to magmatism since it is a long-lived structure interpreted to have originated during Cretaceous extension and subsequently experienced multiple phases of reactivation. This fault zone forms an important structural boundary within the Nuussuaq Basin and is associated with variations in stratigraphic thickness, volcanic facies distribution, and intrusive activity (Chalmers, 1999). Its persistence through successive tectonic and magmatic events suggest that it acted as a significant conduit for magma transport during development of the West Greenland Volcanic province.

The orientation of these deep Cretaceous listric faults will have been influenced by pre-existing weaknesses and faults in the Precambrian basement, however little is known of these since there is very little outcrop in the local area. Since the Precambrian structures will be deeper, it will be important to determine which may have been reactivated and utilised by magma during the Cretaceous to assess the potential to act as magma conduits. Structural intersections between the Precambrian basement and Cretaceous faults would present significant pathways for magmatic flow and mineralisation potential.

Oligocene fault reactivation

During the Eocene to Oligocene the region experienced a period of tectonic compression and volcanic acquiescence associated with the development of the North Atlantic margin. Regional compression is dated between 50-35Ma. This resulted in local reactivation of earlier extensional faults, causing basin inversion, folding and uplift of the Cretaceous sedimentary package and overlying volcanics. This is expressed as broad open folding, and steep reverse faulting as well as thickening of the volcanic pile.

Post-Oligocene (<34Ma), tectonic stresses on the regional have been largely dormant, with minor uplift, erosion and glaciation related rebound.

80 Mile holds three adjacent exploration licences over the western area of the Nuussuaq Peninsula: MEL 2019-116 (north), MEL 2018-116 (north), and MEL 2012-29 which lies within MEL 2018-116 Figure 5-16. These three licence areas cover north Nuussuaq and the Itilli fault down to the coast at Marraat, and along the Aaffarsuaq Valley.

Figure 6-9: Licences across Nuussuaq

Sources: SRK EX, 2026; GEUS geology

Notes: EBFS: Eastern Boundary Fault System; K-Q : Kuugannguaq – Quinnlik fault; It: Itilli fault; A : Agatdalen fault; Ik: Ikorfat; Ku: Kuuk fault. Refer to Figure 6-8 for legend.

The majority of the project area on Nuussuaq is predominantly underlain by rocks of the Vaigat Formation separated from younger Eocene volcanic rocks to the west by the Itilli fault. The licence area occupies part of the central volcanic basin where thick successions of picritic and basaltic lava flows overlie fault-controlled Cretaceous sedimentary rocks of the Nuussuaq Basin. The Cretaceous rocks within the licence area comprise fluvio-deltaic sediments of the Atane Formation, and are largely obscured and overlain by Palaeocene volcanism with the exception of the valley bluffs in the Aaffarsuaq valley.

The Vaigat formation here comprises basaltic to picritic lithologies, including units displaying crustal contamination preserving evidence of magma-sediment interaction such as graphite-bearing xenoliths, sediment-derived sulphides, contaminated rocks, and native-iron bearing lithologies. The region of western Nuussuaq is important as a site of multiple eruptive centres over time, Figure 6-10 highlighting its importance as a region of magma localisation and repeated pathway development.

Figure 6-10: Geological map of Nuussuaq and northern Disko showing extent of erupted Ananna and Nuuk Killeq Members

Sources: Pedersen et al 2002

There are three main fault zones traversing the Nuussuaq peninsula: from east to west: the Ikorfat, the K–Q fault, and the NE-SW trending Itilli fault. Each of these faults is a Cretaceous extension rift fault of which the Itilli Fault shows the most significant displacement.

The Itilli Fault trends SW–NE and dates to the Cretaceous and/or Eocene. It is a large-scale listric fault with <2 km downthrow to the west and represents an extension of the Ungava Transform Fault which spreads north into Baffin Bay (Guan et al. 2023; Chalmers et al. 1995, 1999; Dam and Sonderholm 1994; Larsen et al 2016; Storey et al. 1998). At surface, it separates younger basalts of Eocene age to the west, from older Paleocene volcanic rocks to the east.

Studies by Geoffroy et al. in 2005 and 2015, and Guan in 2023 on the evolution of the Nuussuaq margin identified describe the Itilli Fault from seismic data as an offshore, continent-facing detachment fault forming the northwest boundary to the west Nuussuaq basin. They describe the evolution of a link rift basin with detachment faults progressing in a seaward direction which can be dated by their delineation of Palaeocene to Eocene Vaigat, Maligât, and Kanisut basaltic formations and depicted in Figure 6-11. The basins developed with a large degree of obliquity to the spreading axis of the Labrador Sea, implying significant sinistral strike slip component of action on the Itilli Fault zone in addition to dip-slip. This will have created a much larger zone of crushing and destruction evidenced by the wide Itilli valley.

Figure 6-11: Evolution of the Itilli Fault Zone and west Nuussuaq basin.

Sources: Guan et al., 2023

It has important implications for targeting magmatic nickel systems because it could have acted as a major conduit for ascending magmas, and its throw implies significant longevity.

West of the Itilli Fault, younger basalts of the Eocene age Kanisut Formation, are exposed at surface and only small windows of the older, Maligât and Vaigat Formations exposed at the very north and southern fault-proximal extents.

Aaffarsuaq

Aaffarsuaq is an east-west trending valley in south Nuussuaq with a broad, glacial valley floor, bound by steep northern and southern valley sides and bluffs. The geology of the area is largely consistent with Disko Island, whereby Cretaceous sedimentary successions form the low relief, and underlie Quaternary valley-fill sediments. These are capped by the Palaeocene Maligât and Vaigat volcanic groups forming the steeper bluffs; several Cretaceous-Paleocene age, N-S trending faults traverse the valley.

Aaffarsuaq is located over the northern extents of the erupted Asuk member – an igneous volcanic formation of lavas and dykes up to 150m thick and totalling over 1,000 km³ of material. The eruption site for the Asuk Member is believed to be the Illugissoq Volcano.

A suite of holes were drilled by grønArctic in the mid-1990s west of Aaffarsuaq near Marratt, targeting hydrocarbons and contribute to the stratigraphic knowledge of the western extent of the valley. Such stratigraphic studies highlight Cretaceous sediments of the Atane Member uncomfortably overlain by various thick Palaeocene lavas, hyaloclastites and breccias, generally flowing in an eastward direction (Figure 6-12). These are then overlain by eruptive lavas of the Ilugissoq volcano which are further overrun and capped by the tholeiitic flood basalts of the Ordlingassoq Member. Numerous feeder dykes and contaminated units are observed illustrating the existence of local magmatic plumbing systems.

Basement modelling by Chalmers in 1999 identified the possibility of a large intrusion at depth in the west Aaffarsuaq valley bound between the K-Q fault and another N-S trending fault to the east. A suite of geophysical studies over the valley identified coincident magnetic and gravity anomalies. Soil geochemistry also returned anomalous areas for Ni, Cu, Co and PGE pathfinder elements. Much later in 2007, Vismand Exploration attempted to drill two holes further east, targeting metals mineralisation. The holes (V-GRN-1, and V-GRN-1A) failed in overburden due to poor ground conditions. These anomalies are being drill tested in 2026 field campaign.

Figure 6-12: Cross-section through Nuussuaq and Aaffarsuaq valley.

Sources: Pedersen, 2006

Notes: Cross-section through the Aaffarsuaq Valley looking north depicting the Illugissoq valley fault – a structure sub-parallel to the K-Q fault. Cretaceous sediments of the Atane Formation (Yellow) and the Palaeocene Equalik Formation (green). The progradation of volcanic rocks as subaqueous hyaloclasites breccias, and subaerial lava flows from the west to east is evidenced in the Palaeocene Nuuk Killeq Member (oranges), and the overlying Naujánguit Member (light green/turquoise). Foresets in volcanic units generally dip to the east, but irregular bedding structures are observed near eruption sites (pale green, right). Feeder dykes are outlined in red. The capping red rocks are pyroclastic rocks of the Ilugissoq volcano (Asuk Member) and are overrun by lavas of the Ordlingassoq Member (blue).

80 Mile hold seven exploration licences on Disko Island, three of which have second regions on Nuussuaq peninsula: MEL 2019-116, MEL 2012-29, MEL 2020-10, MEL 2018-16, MEL 2017-01, MEL 2024-30.

The region of the Nuussuaq Basin exposed onshore at Disko Island comprises much of the same stratigraphic successions found on the Nuussuaq peninsula except for specific local variations in Palaeocene lavas and hyaloclasites, and outcropping Precambrian basement near the Disko Gneiss ridge Figure 6-13. The geology of the main target areas at Qullissat, Kuugannguaq, Igdlujunguaq Stordal and Hammers Dal is described in this section.

Figure 6-13: Local geology of the Disko Island licence areas

Sources: SRK EX. 2026; GEUS geology
Notes: Refer to Figure 6-8 for legend.

Qullissat

The geology at the Qullissat area is principally consistent with general geology of the Disko region. At the coast coal measures and sandstones of the Cretaceous sedimentary successions are well mapped and exposed at the coast, including the historical coal quarries. Upslope and inland these sediments are overlain by the Vaigat and Maligât Formations and the contact between the groups is exposed in the upper cliff face, marking the change from subaqueous to subaerial extrusives (LINK TO IMAGE). Much of the geology is obscured by landslides at surface Figure 6-14.

Further geophysical surveys identified several anomalies: a 600 x 900 m electromagnetic conductor at shallow depth interpreted to be the dyke, and an ~8km long NNW-trending AGG anomaly likely to be a mafic intrusion at depth.

The smaller conductor was targeted drilled by Falconbridge in FP94-4-5 and FP94-4-6 and broadly correlates with an intrusive unit, the Nunngarut Intrusion (labelled “Fe” in the image). The hole reached elevated Ni-Cu grades, native iron, and some gold; and the intrusion is stated as having reached sulphur saturation which would be an indicator for nickel concentrating conduit system in the locality.

Originally interpreted as an andesitic sill. In 2024 the Falconbridge cores were studied by Larsen & Pedersen who examined the stratigraphy including the targeted sill and interpreted it as an extrusive lava of the Asuk Member of the Vaigat Formation. Their stratigraphic correlation infers evidence of local faulting with a vertical offset of ~90m locally, and also further faulting south of Qullissaaqqat. The interpretation is based on a single drillhole, limited modelling and correlations of drone magnetic data that are spatially separate.

Evidence from geophysical data, and the fabric of the rock lend more evidence to an interpretation as an intrusive sill. Drilling planned for the 2026 field season will be targeting the Nunngarut Intrusion and anomaly.

Figure 6-14: Aerial image of the Qullissat area and Falconbridge drilling

Sources: Photo: Kristian Svennevig, 2019. Interpretation by Larsen & Pedersen 2024

Notes: Oblique aerial photograph of the coastal area of Disko between the closed coal mines and Qullissaaqqat (immediately left of the picture). Falconbridge boreholes are indicated FP94-4-5 and FP94-4-6. (Fe) Extent of outcropping Nunngarut igneous body outcrop. The scale of the view is inferred by the coastal cliff heigh (~50m) and the plateau top of the Inussuk mountain (900 m).

Figure 6-15: Photogrammetry section of Qullissat

Sources: Larsen and Pedersen, 2024; modifeid from Pedersen et al. (2018, 2017)

Notes: Photogrammetrically measured and interpreted section of the coast of Disko between Qullissat (at right) and Qullissaaqqat (immediately left of section). Exposure of iron-bearing Nunngarut igneous body are red. Borehole vertical extents are indicated but note that perspectives are different because the section possesses no single point of view.

Igdlukunguaq

Situated on the northeast coast of Disko Island, Igdlukunguaq is the site of the discovery of a 28t massive sulphide boulder by Pauly in 1950. The mineralisation in the boulder was stated to contain 6.9% Ni, 3.7 % Cu, 0.6% Co and 2 g/t PGE and is the primary evidence for the existence of a Ni massive sulphide system at Disko-Nuussuaq. The exact relationship of the mineralised boulder to local geological setting remains to be determined since it was not found in in situ as outcrop but sitting separately at surface alongside a dyke.

As a result, the area has been well studied and contains some of the best exposures of sediment-contaminated Vaigat magmatism on northern Disko. Picritic lavas found here display abundant sedimentary xenoliths, and there is evidence of graphite-bearing volcanic rocks (produced by the assimilation of carbon from sediments), native-iron assemblages. These exposures demonstrate evidence of sediment interaction occurring within the basin stratigraphy prior to eruption and provide important evidence for processes responsible for modifying primitive mantle derived magmas, important to nickel mineralisation models.

Kuugannguaq

The Kuugannguaq Valley lies in the northern extent of Disko Island and exposes a geological section across the Disko Gneiss ridge and overlying sedimentary succession. Precambrian gneiss was intersected in borehole FP93-3-1 beneath sedimentary rocks of the Cretaceous Atane formation. The basement ridge extends northwards at least as far as the coast, where it is onlapped and buried by the Paleocene volcanic succession.

The valley contains much exposure of Vaigat Formation picrites and contaminated volcanic rocks including graphite and native iron-bearing flows of the Asuk Member. This is overlain by further basalt flows of the lower Rinks Dal (Maligât Formation). Stratigraphic analysis by Dam & Pedersen in 2009 estimated a thickness of 240m for the Maligât Formation here, where it onlaps south-east sloping Vaigat Formation rocks. The volcanic rocks record emplacement into a subsiding, intermittently marine basin from brecciated, ponded, and subaerial lava morphologies reveal brecciated, subaqueous.

The valley is adjacent to the K-Q fault system, a long-lived structure along which multiple phases of volcanism are related. It is interpreted to be a deep seated structure, having uplifted Precambrian basement along its margin, and therefore acted as a deep pathway enabling magmatic travel (Chalmers, 1999).

Stordal

The Stordal area lies south of the Kuugannguaq Valley and similarly traces similar geology along the K-Q fault and Disko Gneiss ridge. The valley occupies a structurally controlled depression adjacent to the K-Q fault.

There is little Cretaceous exposure in this region however numerous exposures of Vaigat Formation contain xenoliths of carbonaceous mudstone, sandstone, and coals. This indicates interaction between ascending magmas and organic-rich sedimentary successions such as the Atane and Itilli formations. The volcanic succession is dominated by Vaigat Formation picrites overlain by tholeiitic basalts of the Maligât Formation. Several lava units showing localised ponding adjacent to the basin edge and textures consistent with water interaction, similar to the setting of Kuugannguaq Valley.

Hammers Dal

The Hammer’s Dal target is in northwest Disko and contains well exposed sequences Palaeocene Vaigat and Maligât Formation rocks. It is part of the broader Nuussuaq basin that actively subsided to the west under the influence of rifting activity on the K-Q fault. This is reflected in the volcanic lavas which generally flowed westward in this area. Multiple smaller normal faults are also traced in northwest Disko, similar to the K-Q fault. The area is situated within the same Palaeocene flood basalt terrain as the rest of Disko, and multiple contaminated sequences can also be traced here.

Mineralisation in the Disko-Nuussuaq region is closely associated with the Palaeocene magmatism of the West Greenland Flood Basalts and involves the interaction of mantle-derived magmas with sulphur- and carbon-rich Cretaceous sedimentary rocks.

Mineral occurrences to date support this and include native iron-bearing rocks, magmatic Ni-Cu-Co-PGE sulphide mineralisation found in both float and indicated through soil geochemical anomalies.

Native iron occurs in the Kuugannguaq and Quinnlik areas. It is most commonly associated with contaminated picrites and basalts of the Vaigat Formation and occurs with cohenite, troilite, and graphite. These assemblages indicate extreme reduction of mantle-derived magmas during assimilation of carbonaceous sedimentary rocks. The presence of assimilated carbon material with iron combined with high heat flow of the magma has created a blast furnace effect creating native iron.

Across the Disko-Nuussuaq project area there are multiple documented occurrences of anomalous Ni-Cu-Co-PGE mineralisation, as well as repeated evidence of geological features indicative of a magmatic sulphide system. Magmatic sulphide mineralisation is observed associated with contaminated mafic and ultramafic intrusives and related volcanic rocks. The sulphides observed in the project area include pyrrhotite, pentlandite, and chalcopyrite with associated cobalt and platinum group elements. These occurrences have been found at Marraat, Stordal, Kuugannguaq, Asuk, Hammer Dal, Qullissat, Aaffarsuaq and Interlak areas. The most prospective exploration targets at Disko-Nuussuaq are thought to be subvolcanic conduits, chonoliths and feeder intrusions associated with early Vaigat picritic magmatism, since it represents the most primitive and potentially most metal-rich phase of magmatism. (Larsen, 2009, and 2022)

Although to date, no economic mineralisation has yet been found in the project region, these areas provide repeated evidence of elements of a magmatic conduit system; features which are analogous to major magmatic sulphide camps such as at Norilsk, Voisey’s Bay.

Mineralisation observed to date within the project region is summarised below:

More information on style of mineralisation and nickel deposits if provided in section 6.5 Deposit Types.

Exploration at the Disko-Nuussuaq project is targeting magmatic Ni–Cu–PGE sulphide deposits hosted in conduit systems. This deposit type is one of the most extensively studied classes of orthomagmatic ore deposits, with a well-established genetic framework grounded in petrology, geochemistry, and fluid–melt dynamics. These deposits form as a direct consequence of liquid immiscibility between sulphide and silicate melts in mafic to ultramafic magmatic systems, a process that enables highly efficient partitioning of chalcophile and siderophile elements into the sulphide phase (Barnes and Robertson, 2019).

At the core of this deposit model is the concept of open-system magma flow within transcrustal conduits, where repeated magma recharge, turbulence, and interaction with wall rocks drive the physical and chemical evolution of the system (Figure 6-16). Unlike closed, layered intrusions, conduit systems are dynamic environments in which metal enrichment is controlled not only by magma composition but also by flux, residence time, and the ratio between silicate melt and sulphide liquid (R-factor).

From a thermodynamic perspective, sulphide saturation is typically not achieved in primitive mantle-derived magmas without external triggers. In most economically significant systems, saturation is induced by processes such as: