The focus of Eclipse Metals Ltd (ASX:EPM) in the March quarter was on progressing its Ivigtût and Grønnedal critical minerals prospects in Greenland, with the company making positive progress towards securing a mining licence for the prospects.
Eclipse is also progressing in-principal negotiations with parties for a proposed listing on the ASX of Oz Yellow Uranium Ltd, which would incorporate certain Northern Territory uranium tenements currently held by the company.
READ: Eclipse Metals out to revive Ivittuut’s role in supply of critical minerals
Ivigtût And Grønnedal, Greenland
The mineral resource estimate (MRE) for its Gronnedal rare earth element (REE) deposit in Greenland comprises 1.18 million tonnes grading 6,859 ppm rare earth elements (REEs) containing 8,074 tonnes total rare earth oxides (TREO) using a 2,000 ppm cut-off. The MRE extends from surface to a depth of 9.5 metres, representing 80,000 tonnes per vertical metre.
This resource, which remains open in all directions, represents just a small fraction of a large carbonatite intrusive that has been drill-tested and supports a significant upside case for initial investment and development.
Extrapolating the outcropping area of carbonatite to a depth of 50 metres indicates a potentially significant exploration target of REE mineralisation. The grade range for the exploration target comprises a notable proportion of magnet REEs (neodymium, praseodymium, dysprosium and terbium), which has the potential to be competitive with other REE projects globally.
Eclipse says a diamond drilling program is planned to test the carbonatite exploration target together with detailed geological mapping and petrological studies aimed at better understanding controls of REE mineralisation, particularly in the less well-understood altered syenites.
The company has received a positive response and guidance from the Danish Centre for Environment and Energy and the Greenland Institute of Natural Resources.