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    CNJ   AU000000CNJ3

CONICO LTD

(CNJ)
End-of-day quote. End-of-day quote Australian Stock Exchange - 09/24
0.053 AUD   -7.02%
09/24CONICO LTD. : Massive sulphide lenses intersected at cascata prospect
EQ
09/24PRESS RELEASE : Conico Ltd.: MASSIVE SULPHIDE -4-
DJ
09/24PRESS RELEASE : Conico Ltd.: MASSIVE SULPHIDE -2-
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PRESS RELEASE: Conico Ltd.: FURTHER MINERALISATION/SIGNIFICANT AT RYBERG AND SIGNIFICANT MAGNETIC ANOMALY HIGHLIGHTS

07/30/2021 | 04:31am EDT
DGAP-News: Conico Ltd. / Key word(s): Drilling Result 
Conico Ltd.: FURTHER MINERALISATION/SIGNIFICANT AT RYBERG AND SIGNIFICANT MAGNETIC ANOMALY HIGHLIGHTS (news with 
additional features) 
2021-07-30 / 10:30 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
ACN 119 057 457 
AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT 
30 July 2021 
FURTHER MINERALISATION/SIGNIFICANT AT RYBERG AND SIGNIFICANT MAGNETIC ANOMALY 
HIGHLIGHTS 
  . MIDD003 is complete and preliminary investigations show that it has intersected sulphide matrix mineralisation over 
    2.9m from 96.8 - 99.7m downhole. 
  . A downhole magnetic survey of drill-hole MIDD001 has highlighted an area of significant magnetic anomalism that is 
    currently being tested by MIDD004 and MIDD005. 
  . Hole MIDD002 is complete and preliminary investigations show that it has intersected a zone of highly altered 
    gneiss, with trace sulphides from 278 - 280m downhole. 
  . All drill-holes are collared within the Miki magmatic sulphide prospect and core will be processed and assayed as 
    soon as possible. 
  . The aeromagnetic survey across the entire Ryberg License is ongoing, inclusive of the Miki Fjord Macrodyke, and has 
    the potential to identify additional targets that potentially host sulphide mineralisation. 
Conico Limited (ASX: CNJ) ("Conico" or "the Company") and its wholly owned subsidiary Longland Resources Ltd ("Longland 
") is pleased to announce preliminary results from drill-holes MIDD002 & MIDD003, and downhole magnetic results from 
MIDD001. All holes are collared within the Miki magmatic sulphide prospect, located within the Ryberg Project in 
Greenland. 
MIDD003 encountered brecciated gneiss supported by a matrix of sulphide mineralisation containing pyrrhotite. The 
sulphide conforms to the foliation within the gneiss, most likely a result of infiltration of a sulphide-rich liquid. 
The sulphides represent approximately 20% abundance in the rock over a length of 2.9m from 96.8m downhole. 
MIDD002 encountered trace chalcopyrite mineralisation within gneiss, the sulphides constitute approximately 1% 
abundance in the rock over a length of 2m from 278.0m drilled depth. 
The results are preliminary in nature as no drill core has yet been sent for analysis, with results in this 
announcement coming from observation of the core by a suitably qualified and experienced geologist. 
A downhole magnetic survey of drill-hole MIDD001 has shown an area of significant magnetism to the north. The magnetic 
readings are deemed significant as they regularly exceeded the maximum threshold for operational range of the 
instrument, commencing at 115m downhole. This is now subject to drill investigation by drill-holes MIDD004 and MIDD005. 
Longland CEO Thomas Abraham-James said: 
"The downhole magnetic survey is believed to be due to accumulations of sulphide minerals proximal to MIDD001 where 
disseminated, matrix and semi-massive sulphide were intercepted from approximately 78 metres downhole depth. The two 
holes currently underway are drilling the source of the magnetic anomalism and it's very exciting." 
Re-logging of the MIDD001core over the last few days has also identified the presence of Chalcopyrite at 117.5m 
downhole. 
This release contains preliminary results from drill-holes recently completed at the Miki magmatic sulphide prospect. 
Drill-holes MIDD002 and MIDD003 were both completed on the 29^th of July, with the rigs now having moved and been 
established on holes MIDD004 and MIDD005. Details of the results for drill-hole MIDD001 can be found in an ASX release 
made by the Company on the 26^th of July 2021. 
Drill-holes MIDD002 and MIDD003 were targeting electromagnetic (EM) anomalies identified in a 2020 survey. Drill-hole 
MIDD003 was collared 20m to the east of MIDD001 and was designed to further investigate the modelled EM plate that 
MIDD001 had successfully penetrated. The sulphide matrix breccia that was encountered is shallower than that in 
MIDD001, and visually contains more sulphide - with the most readily identifiable mineral being pyrrhotite. 
MIDD002 was collared on the northern EM modelled plate and represents the first drill-hole into this target. While 
mineralisation was minimal, it did encounter a significant zone of alteration in the gneiss, extending from 237 to 282m 
drilled depth. It is possible that this is due to the hole passing nearby a mafic intrusive. The trace chalcopyrite is 
associated with quartz veins in the altered gneiss. 
A downhole magnetic survey was conducted on hole MIDD001 that yielded readings exceeding the maximum threshold for 
operational range (readings in excess of 100,000 nT). The highly anomalous magnetism began at 115m downhole, persisting 
to end of hole at 214m drilled depth. The source of magnetism is to the north of drill-hole MIDD001, with drill-holes 
MIDD004 and MIDD005 designed to intercept this area of interest. Additional downhole magnetic surveys have been 
conducted on holes MIDD002 and MIDD003 with interpretation by a consulting geophysicist underway. The magnetism is 
thought to be due to the presence of pyrrhotite, a highly magnetic sulphide mineral that was encountered in MIDD001 and 
MIDD003. The source of the magnetic anomaly is also toward the Miki Fjord Macrodyke, a Tertiary mafic intrusion that 
exhibits sulphide mineralisation at surface. 
About the Miki Cu-Ni-Co-Pd-Au Prospect 
The Miki Prospect is within the Ryberg Project that is located on the east coast of Greenland, approximately 350km NW 
of Iceland. Conico subsidiary Longland is the 100% owner and operator of the licences that cover an area of 4,521km^2. 
The Miki Prospect contains magmatic sulphide mineralisation associated with Tertiary mafic dykes/sills that have 
intruded Archaean basement gneiss and Cretaceous sediments. There are well developed showings of 
copper-palladium-gold-rich sulphides at surface, with mineralisation occurring as globular sulphides up to 15 cm in 
diameter consisting of pyrrhotite and chalcopyrite. 
Grab samples by Longland from surface rocks returned up to 2.2% copper, 0.8% nickel, 3.3g/t palladium and 0.15 g/t 
gold. A second nickel-rich sulphide phase is also present, with surface samples grading up to 0.8% nickel and 0.1% 
cobalt. 
Regards, 
Guy T Le Page, FFIN, MAusIMM 
Exécutive Director 
COMPETENT PERSONS STATEMENT 
The information contained in this report relating to exploration results relates to information compiled or reviewed by 
Thomas Abraham-James, a full-time employee of Longland Resources Ltd. Mr. Abraham-James has a B.Sc. Hons (Geol) and is 
a Chartered Professional (CPGeo) and Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. 
Abraham-James has sufficient experience of relevance to the styles of mineralisation and the types of deposit under 
consideration, and to the activities undertaken to qualify as a Competent Person as defined in the 2012 edition of the 
Joint Ore Reserve Committee (JORC) "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore 
Reserves". Mr. Abraham-James consents to the inclusion in this report of the matters based on information in the form 
and context in which it appears. 
FORWARD-LOOKING STATEMENTS 
This announcement contains forward-looking statements that involve a number of risks and uncertainties. These 
forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements 
reflect current expectations, intentions or strategies regarding the future and assumptions based on currently 
available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions 
prove incorrect, actual results may vary from the expectations, intentions and strategies described in this 
announcement. No obligation is assumed to update forward-looking statements if these beliefs, opinions and estimates 
should change or to reflect other future developments. 
Annex 1 
Drill-hole     Easting Northing  Elevation Dip Azimuth Length 
MIDD001        565,714 7,571,884 298m      -80 215     217.0m 
MIDD002        565,840 7,571,990 312m      -80 355     313.5m 
MIDD003        565,734 7,571,883 298m      -80 215     180.0m 

All coordinates are displayed in WGS84 UTM Zone 25N

Annex 2

JORC Code, 2012 Edition Section 1: Sampling Techniques and Data

Criteria      JORC Code Explanation                                 Commentary 
Sampling      Nature and quality of sampling (e.g., cut channels,   * Sampling of MIDD002 and MIDD003 was conducted 
techniques    random chips, or specific specialised industry        using standard industry practices with diamond 
              standard measurement tools appropriate to the         drilling. Magnetic readings were taken using a 
              minerals under investigation, such as down hole gamma Reflex EZ-Trac downhole survey tool. 
              sondes, or handheld XRF instruments, etc.). These 
              examples should not be taken as limiting the broad 
              meaning of sampling. 
              Include reference to measures taken to ensure sample  * Drill-holes MIDD002 and MIDD003 were angled to 
              representivity and the appropriate calibration of any optimally intersect the interpreted electromagnetic 
              measurement tools or systems used.                    conductor. 
              Aspects of the determination of mineralisation that   * Mineralisation in drill-holes MIDD002 and MIDD003 
              are Material to the Public Report. In cases where     has not been quantitively determined and is 
              'industry standard' work has been done this would be  awaiting assay.  The determination in this report 
              relatively simple (e.g., 'reverse circulation         is qualitative, based on visual observation made by 
              drilling was used to obtain 1 m samples from which 3  the Competent Person who is a geologist on site. 

(MORE TO FOLLOW) Dow Jones Newswires

July 30, 2021 04:30 ET (08:30 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
ASX LIMITED 0.08% 84.09 End-of-day quote.16.79%
CONICO LTD -7.02% 0.053 End-of-day quote.82.76%
DJ INDUSTRIAL 0.10% 34798 Delayed Quote.13.59%
GREENLAND HOLDINGS CORPORATION LIMITED -0.86% 4.63 End-of-day quote.-16.61%
INTRUSION INC. 1.82% 4.47 Delayed Quote.-75.09%
MINERAL RESOURCES LIMITED -2.91% 46.4 End-of-day quote.23.90%
PALLADIUM -0.90% 1971.5 Delayed Quote.-18.93%
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Financials
Sales 2021 0,00 M 0,00 M 0,00 M
Net income 2021 -1,00 M -0,72 M -0,72 M
Net cash 2021 3,92 M 2,84 M 2,84 M
P/E ratio 2021 -20,0x
Yield 2021 -
Capitalization 53,0 M 38,4 M 38,5 M
EV / Sales 2020 118x
EV / Sales 2021 19 205x
Nbr of Employees -
Free-Float 81,8%
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Aaron Philip Gates Chief Financial Officer & Secretary
Gregory Howard Solomon Non-Executive Chairman
Douglas Howard Solomon Non-Executive Director
Guy T. Le Page Non-Executive Director
James B. Richardson Non-Executive Director
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