License 2008/27 Saqqaq/Itilliarsuk, 140 km2
The Itilliarsuk banded iron formation (Itilliarsuk-BIF) is an iron ore and gold prospect held by Avannaa Resources. The property is located on the Nuussuaq peninsula in the northern Disko Bay area, Central West Greenland.
New aero- and ground magnetic data and subsequent 3D modeling of the BIF indicate:
- Northeastern segment with six ore bodies containing a total of up to 291 million tonnes @ 54.6 % Fe3O4 (39.3 wt% Fe) over a strike length of 3.5 km
- Southwestern segment with two ore bodies containing a total of up to 339 million tonnes @ 40.9% Fe3O4 (29.4 wt% Fe) over a strike length of strike length 2.5 km
Both deposits are amenable to a combination of open pit and underground mining. The northern segment potentially contains smaller high grade zones which in turn could produce lump ore for direct shipping. The deposits are next to a deep water fjord and access by ship will be straightforward.