# Updated Mineral Resource Estimate and publication of Competent Persons Report Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/updated-mineral-resource-estimate-and-publication-of-competent-persons-report--92baff9c-8e61-431d-8e02-e7b341bf2cf7 Original source: https://money.tmx.com/en/quote/AMRQ/news/6442845996045668/updated-mineral-resource-estimate-and-publication-of-competent-persons-report Publisher: tmx Original announcement: 2026-07-29T13:10:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Amaroq Ltd. - Ticker: AMRQ - Exchange: TSX - Region: South Greenland - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-09-15 10:33:25 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Amaroq Ltd. has announced an updated Mineral Resource Estimate \(MRE5\) for its 100%-owned Nalunaq gold project in South Greenland, reporting total contained gold of 504 koz at 30.35 g/t Au. The update features a 10.6% increase in Indicated gold resources, driven by successful underground infill drilling and development sampling. Reasoning: Significant increase in Indicated gold resources and total contained metal, crossing the 500koz threshold, driven by successful infill drilling. - Positive factor: Indicated gold resource increased by 10.6% - Positive factor: Total contained gold exceeded 500koz milestone - Positive factor: High-grade nature of deposit maintained - Positive factor: Resource shows resilience to cut-off grade changes - Positive factor: Successful infill drilling and development sampling - Negative factor: Substantial portion of resource remains in Inferred category Facts used in scoring: 4 ## Classification and evidence **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: Indicated gold resources increased in contained gold by 10.6% relative to MRE4. Evidence · text > 10.6% Increase in Indicated Gold Resources **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: James McFarlane of Bara Consulting Ltd. is named as the QP responsible for the MRE. Evidence · text > The Competent Person and Qualified Person responsible for the Mineral Resource Estimate is Mr James McFarlane **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource is reported in accordance with NI 43-101 requirements. Evidence · text > in accordance with the requirements of National Instrument 43-101 **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The cut-off grade of 5.52g/t Au is explicitly stated. Evidence · text > above a cut-off grade of 5.52g/t Au ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Resource Estimates (4) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/updated-mineral-resource-estimate-and-publication-of-competent-persons-report--92baff9c-8e61-431d-8e02-e7b341bf2cf7#fact-resource-facts-0) Nalunaq · gold #### Identity - Project: Nalunaq - Commodity: gold - Region: south greenland - Reported Region: South Greenland - Ticker: AMRQ #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James McFarlane - Resource group id: resource:2f8fbb0e79bd4421f868 - Deposit or zone: Nalunaq - Mining method: underground - Material type: mixed - Ownership percent: 100 % - Resource basis: attributable #### Resource Data - Category: indicated - Tonnes: 163300 - Grade: 33.2 - Grade Unit: g/t - Contained Metal: 174 - Contained Unit: koz - Cutoff Grade: 5.52 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-07-29T00:00:00.000Z Reasoning: Strong grade and significant increase in Indicated ounces compared to MRE4. - Positive factor: 10.6% increase in contained gold for Indicated category Evidence · table > 33.20g/t Au Context: 163,300t #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/updated-mineral-resource-estimate-and-publication-of-competent-persons-report--92baff9c-8e61-431d-8e02-e7b341bf2cf7#fact-resource-facts-1) Nalunaq · gold #### Identity - Project: Nalunaq - Commodity: gold - Region: south greenland - Reported Region: South Greenland - Ticker: AMRQ #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James McFarlane - Resource group id: resource:b547dc5df401f430f985 - Deposit or zone: Nalunaq - Mining method: underground - Material type: mixed - Ownership percent: 100 % - Resource basis: attributable #### Resource Data - Category: inferred - Tonnes: 352800 - Grade: 29.03 - Grade Unit: g/t - Contained Metal: 329 - Contained Unit: koz - Cutoff Grade: 5.52 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-07-29T00:00:00.000Z Reasoning: High grade but remains in the speculative Inferred category. - Positive factor: Contained gold increased to 329koz - Negative factor: Large portion of resource remains in Inferred category Evidence · table > 29.03g/t Au Context: 352,800t #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/updated-mineral-resource-estimate-and-publication-of-competent-persons-report--92baff9c-8e61-431d-8e02-e7b341bf2cf7#fact-resource-facts-2) Nalunaq · gold #### Identity - Project: Nalunaq - Commodity: gold - Region: south greenland - Reported Region: South Greenland - Ticker: AMRQ #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James McFarlane - Resource group id: resource:2f8fbb0e79bd4421f868 - Deposit or zone: Nalunaq - Mining method: underground - Material type: mixed - Ownership percent: 100 % - Resource basis: attributable #### Resource Data - Category: indicated - Tonnes: 163300 - Grade: 33.2 - Grade Unit: g/t - Contained Metal: 174 - Contained Unit: koz - Cutoff Grade: 5.52 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-01 - Prior Contained Metal: 158 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-07-29T00:00:00.000Z Reasoning: Direct comparison to MRE4 shows significant growth in Indicated ounces. - Positive factor: 10.6% increase in contained gold Evidence · table > 174 koz Context: 158 koz #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 174 against 158 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/updated-mineral-resource-estimate-and-publication-of-competent-persons-report--92baff9c-8e61-431d-8e02-e7b341bf2cf7#fact-resource-facts-3) Nalunaq · gold #### Identity - Project: Nalunaq - Commodity: gold - Region: south greenland - Reported Region: South Greenland - Ticker: AMRQ #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James McFarlane - Resource group id: resource:b547dc5df401f430f985 - Deposit or zone: Nalunaq - Mining method: underground - Material type: mixed - Ownership percent: 100 % - Resource basis: attributable #### Resource Data - Category: inferred - Tonnes: 352800 - Grade: 29.03 - Grade Unit: g/t - Contained Metal: 329 - Contained Unit: koz - Cutoff Grade: 5.52 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-01 - Prior Contained Metal: 326 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-07-29T00:00:00.000Z Reasoning: Marginal increase in Inferred category. - Positive factor: 0.9% increase in contained gold Evidence · table > 329 koz Context: 326 koz #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.