80 Mile gets exploration permits to begin drilling at Disko project in Greenland 

80 Mile PLC (LON: 80M) an explorer with projects in Greenland, Finland and Italy, announced Monday it has received all exploration permits and signed a definitive agreement with USFM to commence drilling at its Disko project in Greenland.  

An initial 5,000‑metre drill program is scheduled for the first week of July at Disko-Nuussuaq nickel-copper-cobalt-PGE project in West Greenland, the company said.  

Under the agreement, USFM will fund an initial $30 million to earn up to a 51% legal and beneficial interest in Disko. 

The drilling program has an approved and fully funded budget of $7.5 million, provided by USFM. 80 Mile said it has engaged SRK Exploration as Geological Manager and Forage Fusion Drilling, which will supply two diamond drill rigs for the campaign. 

The Disko project, located in West Greenland, has shown its potential to host mineralisation similar to the nickel/copper sulphide mine Norilsk-Talnakh located in northern Russia, the company said.  

 “The signing of this agreement with USFM marks a major step forward in our plans for our Greenlandic mineral assets,” 80 Mile chief operating officer Olga Solovieva said in a news release.  

“We now have a free carried position for 49% of Disko after our partners spend $30 million on the first systematic drilling ever to be undertaken on the project,” Solovieva said.  

“80 Mile has a unique in country first mover advantage, that is only now being recognised, having secured two of the highest potential commodity projects known,” she added.