Eclipse Metals Ltd (ASX:EPM) has identified rare earth element (REE) mineralisation in all 52 trenches sampled at the Grønnedal prospect within the Ivigtût multi-commodity project in Greenland.
Importantly, the trenching assays confirm the presence of the high-value magnet REE neodymium, with ratios up to 56% of the total rare earth oxides (TREO) present, with an average of 31% TREO.
When neodymium ratios are combined with sister element praseodymium, the two elements account for 60% of calculated TREO, meaning Grønnedal’s mineralisation is rich in valuable magnet REEs.
Multiple near-surface targets
“The initial results from shallow trenches at Grønnedal are highly significant for Eclipse, as they indicate multiple near-surface targets that remain open at depth and along strike,” Eclipse Metals executive chair Carl Popal said.
“Our previous geophysical assessment confirmed the deep-seated nature of the host to this REE mineralisation, pointing towards a substantial target.
“Following the approval of the 2023 Grønnedal diamond drilling program, we are poised to commence the REE assessment at depth.
“This aligns with our strategic goal of becoming a prominent supplier of metals and minerals for the green energy industry.
“The promising REE prospectivity at both Grønnedal and Ivigtût reinforces our commitment to actively exploring these sites, including the nearby historic Ivigtût pit throughout 2023.”
Overall, EPM’s fieldwork confirmed that high-value REE mineralisation is both widespread and deep-seated at Grønnedal.
Eclipse will follow its trenching program assays up with a diamond drilling campaign, scheduled for the fourth quarter of this year.
Best assay results from Grønnedal trenching program include:
- 1-metre at 16,444 parts per million (ppm) TREO from 1.0 metre (neodymium ratio = 26%);
- 0.5 metres at 15,923 ppm TREO from 0 metres (neodymium ratio = 27%);
- 0.5 metres at 10,571 ppm TREO from 0 metres (neodymium ratio = 29%);
- 2.0 metres at 12,911 ppm TREO from 1.0 metre (neodymium ratio = 27%);
- 1-metre at 9,341ppm TREO from 0 metres (neodymium ratio = 56%);
- 1-metre at 13,452 ppm TREO from 1.0 metre (neodymium ratio = 36%);
- 1.5 metres at 11,630ppm TREO from 0 metres (neodymium ratio = 30%);
- 0.5 metres at 6,317ppm TREO from 0 metres (neodymium ratio = 45%).