The Joint (US:JYNT) Prnewswire·2025-11-03 18:24Core Viewpoint - 80 Mile PLC has entered into a Binding Head of Terms with USFM Corporation for a US$30 million investment to acquire a 51% interest in the Disko-Nuussuaq project in Greenland, positioning the company to advance its exploration and development efforts in a region rich in critical minerals [1][2][4]. Financial Terms - The US Partner will invest US$30 million in three increments of US$10 million over three years to earn a 51% interest in the Disko project [7]. - 80 Mile will receive a management fee of 12.5% on all expenditures incurred at Disko and a cash payment of £500,000 upon signing definitive agreements [1][7]. Project Details - Disko is identified as a highly prospective area for copper, nickel, cobalt, and platinum group elements (PGE), with significant mineralization potential similar to the Norilsk-Talnakh mine in Russia [6][9]. - The project area covers 3,015 square kilometers and is located approximately 120 kilometers from Ilulissat, which has essential infrastructure to support operations [12]. Geological Significance - Seven significant Magmatic Massive Sulphide (MMS) targets have been identified, with the largest measuring 5.9 km by 1.1 km [9]. - A 28-ton boulder of pure massive sulphides has been discovered, assaying 6.9% nickel, 3.7% copper, 0.6% cobalt, and 2 grams per tonne of platinum group metals [9][10]. Strategic Importance - The partnership with USFM Corporation is seen as a major milestone for both Disko and 80 Mile, aimed at accelerating drilling and resource definition while maintaining operational leadership [5][6]. - The project is positioned within a global context of increasing demand for critical resources, particularly from the U.S. administration's interest in Greenland's minerals [4][5].