Drilling Commences at the Disko-Nuusuaq Project
Summary by AI BETAClose X
01 July 2026
Drilling Commences at the Disko-Nuusuaq Project
Figure 1 - Sighting of drill rig by SRK Geologists
80 Mile PLC ('80 Mile' or the 'Company'), the AIM, FSE, and OTC listed exploration and development company with projects in Greenland, Finland and Italy, is pleased to announce that drilling has commenced at the Company's Disko-Nuussuaq nickel-copper-cobalt-PGE project in West Greenland ("Disko" or the "Project"), marking the start of the 2026 exploration campaign.
Overview
· Two drill rigs are now operating on site
· Initially targeting high-priority zones at Qullissat, on Disko Island
· Up to 9,000 metres of drilling planned during the 2026 field season following recent expansion of the programme
· Drill programme will take place across multiple targets on both Disko Island and the Nuussuaq Peninsula
· Fully funded exploration campaign forms part of the US$30 million earn-in agreement with USFM Corporation
· 80 Mile retains a 49% free carried position while managing the exploration work
Roderick McIllree, Executive Director, commented: "The commencement of drilling marks another important milestone for the Disko Project and follows months of planning, permitting and successful mobilisation. With two drill rigs now operating and an expanded 9,000-metre programme underway, we are entering what we believe will be a highly significant exploration season.
"This programme is designed to systematically test some of the highest-priority nickel-copper-PGE targets identified across the Project and represents the first systematic drilling campaign to be undertaken at Disko. We look forward to updating shareholders as drilling advances and results are received."
Further Information
The 2026 programme represents the first systematic drilling campaign undertaken at the Project and follows the expansion of the planned programme from approximately 5,000 metres to 9,000 metres. The increased scope reflects the quality and number of priority targets generated through the integration of historical exploration data with modern geophysical interpretation.
The drilling programme will initially target high-priority zones at Qullissat, on Disko Island, where large-scale-high-tenor geophysical and coincident geochemical anomalies have been identified, before moving to the mainland later in the season. The programme will take place across multiple targets on both Disko Island and the Nuussuaq Peninsula.
The Disko Project, which covers approximately 3,020 square kilometres in West Greenland, is recognised as one of the world's most prospective frontier districts for magmatic nickel-copper sulphide exploration. Geological characteristics identified across the licence package are considered analogous to globally significant magmatic sulphide systems and have generated a pipeline of compelling drill-ready targets.
The Company will provide further updates as drilling progresses.
Figure 2 - New drill rods heading to the drill rigs
Figure 3 - Initial setting up
About the Disko-Nuussuaq Project
Located on the south-west coast of Greenland, Disko has shown its potential to host mineralisation similar to the nickel/copper sulphide mine Norilsk-Talnakh located in northern Russia. Seven significant Magmatic Massive Sulphide ("MMS") targets have been identified to-date at the licence area, with the largest being confirmed now at 5.9 kilometres ("km") long by 1.1km wide. A 28 tonne ("t") boulder of pure massive sulphides assayed 6.9% nickel, 3.7% copper, 0.6% cobalt and 2 grammes per tonne platinum group metals has also been discovered on the licence area. This boulder is on display at the Danish Geological Museum in Copenhagen. A 28t boulder of metal rich massive sulphides clearly demonstrates the significant potential of the project.
A surface sampling programme undertaken by the company confirmed the existence of a working sulphide system (Photo 1) at Disko, initial results returned averaged between 4.6%-9.3% nickel & 1.5-2.8% copper. (Photo 2)
Fresh samples taken from outcrops confirmed characteristics indicative of large-scale Ni-Cu-Co-PGE sulphide segregation and coarse grained inter-locking crystals of metal sulphides were observed in hand specimens with an average crystal size of +15cm indicating that the significant accumulation / precipitation times required for formation of large-scale MMS deposits has occurred. (Photo 3)
Photo 1 Impressive hand specimen from Disko showing accumulation / settling phase of a metal sulphide rich Picritic Magma.
Photo 2 Sample from the Disko boulder that assayed 6.9% Nickel, 3.7% Cu, 0.6% Co, and 2gt PGE
Magmatic massive sulphide deposits are extremely rare and extremely valuable. Notably, based on combined reserves, resources, and historical production, it has been estimated by independent parties that the total value of ores in the Norilsk-Talnakh district surpassed US$1.4 trillion based on 2020 metal prices (Barnes et al., 2020). Disko is estimated to have 28% more picritic lavas than Norilsk. Picritic lavas are magmas sourced from the mantle, a metal dense layer inside the earth and a critical prerequisite for large scale metal accumulations in surficial magmatic massive sulphide deposits.
.
Photo 3 hand specimen of massive sulphide from Disko, large interlocking nickel-copper PGE rich crystals.
The Disko and Nuussuaq Project comprises six MELs covering a total area of 3,015 square kilometres located on Disko Island and the Nuussuaq Peninsula in Central West Greenland. The project area is located approximately 120 kilometres northwest of Ilulissat, Greenland's third-largest city, which serves as the educational, commercial, and administrative hub of Central West Greenland, with a population of 4,700. Ilulissat is well-equipped with essential infrastructure including an airport, deep-water port facilities, and various service providers. Notably, a new international airport is currently under construction and is anticipated to be operational by the end of 2025. Since 2016, 80M has maintained a logistical base in Ilulissat, facilities designed to support its operations at Disko-Nuussuaq projects. Additionally, the Nikkeli operates a modular exploration camp for up to 40 personnel situated at the abandoned coal mining town of Qullissat on Disko Island. The Disko-Nuussuaq Project is hosted within the West Greenland Flood Basalt Province ('WGFBP'). The WGFBP is associated with the initial phase of continental breakup and the onset of seafloor spreading of the Labrador Sea during the early Paleogene. This province serves as a recognized geological analogue to the Siberian Flood Basalts of the Noril'sk Region of Siberia. This analogy was first recognised by Cominco (now Teck) and provided the exploration framework that has guided subsequent exploration efforts.
For further information please visit http://www.80mile.com or contact:
|
|
80 Mile plc |
enquiry@80mile.com |
|
Ewan Leggat / Caroline Rowe / Devik Mehta |
SP Angel Corporate Finance LLP |
+44 (0) 20 3470 0470 |
|
Harry Ansell / Katy Mitchell / Andrew de Andrade |
Zeus Capital Limited (Joint Broker) |
+44 (0) 20 3829 5000 |
|
Megan Ray / Said Izagaren |
BlytheRay |
+44 (0) 20 7138 3204 80mile@blytheray.com |
About 80 Mile PLC
80 Mile Plc is listed on London's AIM market under the ticker 80M, the Frankfurt Stock Exchange under the symbol S5WA, and traded on the U.S. OTC Market under the ticker BLLYF. 80M is an exploration and development company focused on Hydrocarbons and High-Grade Critical Metal projects in Greenland and an industrial gas and biofuels business in Italy. 80 Mile offers both portfolio and commodity diversification focused on hydrocarbons, base and precious metals, while expanding into sustainable fuels and clean energy solutions in Tier 1 jurisdictions. 80 Mile's strategy is centred on advancing key projects while creating value through partnerships and strategic acquisitions.
80 Mile's Jameson Project covers 8,429km2 across three licences in East Greenland and represents one of the world's largest remaining untapped gas and liquids-rich basins. An independent 2025 assessment by Sproule ERCE estimated the basin contains 13.03 billion barrels (P10) of recoverable oil, with 80 Mile's retained interest equating to 3.9 billion barrels. In 2025, a milestone agreement with March GL (to be renamed Greenland Energy Co, NASDAQ: GLND) enabled plans for two fully funded 3,500-metre drill holes in the second half of 2026, after which GLND will earn a 70% interest in the Jameson Project, leaving 80 Mile with 30%.
The Disko-Nuussuaq Project, located in West Greenland, covering a district-scale 3,020km2 area. Disko is recognised as a world-class geological setting for copper, nickel, cobalt and PGEs, with potential for a Tier-1 nickel-copper discovery analogous to Siberia's Norilsk Nickel District. The project features multiple walk-up drill targets and which includes seven large, high-priority geophysical anomalies. In late 2025, the company entered into a JV agreement with USFM Corporation under which USFM will fund US$30 million in drilling-related expenditure, including US$10 million in spring/summer 2026, to accelerate drilling and resource definition at Disko. The funding structure will allow 80 Mile to retain operational leadership during the project's critical early stages.
The Dundas Project, located on Greenland's northwest coast, is recognised by independent bodies as the world's highest-grade ilmenite project and the second- largest titanium occurrence globally after Russia. The area hosts high-purity ilmenite, the primary mineral for titanium. Dundas has a JORC-compliant Mineral Resource of 117 million tonnes at 6.1% ilmenite, with further upside highlighted by a late-2024 maiden exploration target of up to 540 million tonnes of additional ilmenite-bearing material. A recent survey by Geological Survey of Denmark and Greenland further impresses on the prospectivity of the area with an estimate of up to 17 billion tonnes (non-JORC) of pure ilmenite within the broader province. With a completed bankable feasibility study and all exploitation permits in place, the project is positioned as a major near-term revenue opportunity for 80 Mile as the company seeks development partners.
80 Mile, through 100% ownership of Hydrogen Valley Ltd, is advancing the Greenswitch Ferrandina Plant in Basilicata, Italy. This fully integrated chemical facility is undergoing final maintenance to commence production of biofuels and Sustainable Aviation Fuel (SAF). Strategically located near the Port of Taranto and within a Special Economic Zone (SEZ), the plant is poised to contribute significantly to Europe's energy transition by producing up to 50,000 tonnes of biodiesel annually, with future plans for green hydrogen production. The facility's advanced infrastructure and strategic location underscore 80 Mile's commitment to sustainable energy solutions and regional economic development.
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