Eclipse Metals Limited.
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Eclipse Metals Reports High Neodymium-Rich Mineralisation at Grønnedal, Greenland
Eclipse Metals Ltd (ASX: EPM), an Australian exploration and mining company, has released the assay results from its 2022 trenching program at the Grønnedal Rare Earth Elements (REE) prospect in southwestern Greenland. The results confirm the presence of neodymium-rich REE mineralisation, showcasing the significant potential of the site.
Maiden Trenching Program Yields Positive Results
The trenching program at Grønnedal involved the completion of 52 trenches, with each trench returning REE mineralisation. Sample assays revealed high ratios of neodymium oxide (Nd2O5) to total rare earth oxides (TREO), with maximum ratios reaching 56% and an average ratio of 31%. Additionally, assays showed that praseodymium (Pr) and neodymium (Nd) accounted for 60% of the calculated TREO, indicating a high concentration of the more valuable REE.
Noteworthy Assay Results
Several trenches at Grønnedal yielded exceptional assay results, including:
L3-8: 1. 0m @ 9,341 ppm TREO from 0.
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0-1. 0m (Nd2O5 ratio = 56%)
L3-5: 1. 0m @ 13,452 ppm TREO from 1. 0-2. 0m (Nd2O5 ratio = 36%)
L5-12: 0. 5m @ 6,317 ppm TREO from 0. 0-0. 5m (Nd2O5 ratio = 45%)
Extensive REE Mineralisation and Future Plans
The presence of widespread and deep-seated REE mineralisation at Grønnedal points towards a significant resource potential. Eclipse Metals plans to commence diamond drilling at the site in the fourth quarter of 2023, aiming to further assess the REE prospectivity at depth. This aligns with the company's strategic goal of becoming a leading supplier of metals and minerals for the green energy industry.
Executive Chairman's Comments
Executive Chairman Carl Popal emphasised the significance of the initial trenching results at Grønnedal. He noted the presence of multiple near-surface targets that remain open along strike and at depth. With the upcoming diamond drilling program approved for 2023, Eclipse Metals is prepared to explore the REE potential at depth, showcasing their commitment to actively developing Grønnedal and the nearby historic Ivigtût pit.
The promising results at Grønnedal and Ivigtût strengthen Eclipse Metals' position in the pursuit of its strategic goal and reaffirm the company's dedication to the exploration and development of these sites throughout 2023.
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