Ann: EM Survey Reveals Highly Prospective Chonolith at Ryberg, page-2

11 December, 2020• The recently completed Ryberg electromagnetic (EM) survey has revealed a conductor interpreted to be a chonolith with sulphides at its base;• A chonolith is a magma conduit that is synonymous with magmatic sulphide mineralisation, and are present at significant known deposits such as Noril’sk (Russia), Nova-Bollinger (Australia), Eagle (USA) and more;• The depth to target is just 150m from surface, width is approximately 300m and length is greater than 300m (remains open);• The interpreted chonolith lies beneath a location with known magmatic copper sulphide mineralisation at surface. The precious metal tenors of 100% pure sulphides at the adjacent Miki Fjord Dyke grade up to 30g/t palladium and 11g/t gold* and contains approximately 50% chalcopyrite; and• Results for Conico’s Sortekap (gold) Projects are expected to be released this month.Conico Executive Director Mr Guy Le Page said: “When looking for magmatic sulphides with concentrations of nickel, copper and PGEs, chonoliths are a key ingredient for ore formation. We are delighted with the result of the EM survey and the interpreted chonolith conforms with our expectation for the location. This represents a high priority drill target for 2021 and gives impetus for the remaining 95% of the Ryberg Project area to be blanketed with EM. This is only the tip of the iceberg.... we are on track to potentially open up a new mineral province.”