Eclipse Metals Ltd (ASX: EPM) (Eclipse or the Company) is pleased to provide an update on the analytical assessment of historical drill core samples from its Grønnedal Rare Earth Elements (REE) Project in South Greenland. The Project is part of the Company’s wholly owned Ivigtût Project, centred around the historic Ivigtût polymetallic mine. The Project is highlighted by an untapped high-purity silica deposit, and remnant gallium, copper, lead, and REE mineralisation.
The multi-commodity Ivigtût Project comprises port facilities and associated infrastructure that provide year-round access for shipping. Located 3 kilometres east of the port, the Ivigtût REE deposit is accessible via an established all-weather road and track network. The deposit’s positive infrastructure position significantly enhances the development prospects and timelines for the Project.
At the Grønnedal REE Project, an Exploration Target of between 175 and 245 million tonnes of REE mineralisation, grading between 6,000ppm and 7,000ppm Total Rare Earth Oxides (TREO), has been estimated. Please refer to the ASX Announcement dated 1 December 2023, “Rare Earths Identified Over 5km Strike at Grønnedal Deposit, Greenland”.
The Exploration Target remains conceptual, as insufficient exploration has been conducted to estimate a Mineral Resource. To validate the Exploration Target, a small portion of the Exploration Target was drill-tested, leading to an initial inferred Mineral Resource Estimate (MRE) comprising 1.18Mt grading at 6,859ppmTREO. Notably, the mineralisation is distinguished by its high Magnetic Rare Earth Elements (MREE) content, which ranges between 33% and 39% of the TREO, including elevated Neodymium content.
Eclipse is advancing the Project with detailed mineralogical studies of the historical diamond core samples, alongside a review of the Ivigtût Project’s resource potential. Key progress milestones include:
- Phase 1 analytical results due soon: Laboratory results from the historical Grønnedal drill core are expected shortly, further delineating REE mineral resources.
- Phase 2 analytical results underway: Resource estimates for polymetallic mineralisation at the Ivigtût Project Pit are progressing in parallel with the Grønnedal Project REE.
- Mineral Resource Estimates (MRE) in progress: MREs for silica quartz, siderite and zn-sulphides are expected in Q2 2025.
