Eclipse Metals recently made waves in the mining world by announcing a staggering 75-fold increase in the resource estimate for its Gronnedal carbonatite-hosted rare earth project in southwest Greenland. This revelation marks a significant milestone for the company and has sent shockwaves through the industry.
“This is a transformational milestone for Eclipse and positions the Gronnedal rare earths deposit as a globally significant rare earths project,”
remarked Eclipse Metals director, Carl Poppal, reflecting on the monumental resource upgrade.
The initial estimate of 1.18Mt resource tonnes, based on shallow drilling and trenching, has now been eclipsed by the latest upgrade to an impressive 89 million tonnes. This substantial boost not only enhances Gronnedal’s scale and strategic value but also catapulted Eclipse’s share price by 200%.
The rare earth elements at Gronnedal are concentrated within a carbonatite intrusive and surrounding rocks within the Proterozoic Gronnedal Complex. Extensive geological mapping has revealed that mineralization extends from surface to depths of at least 200m over a considerable area measuring 500m east-west and 400m north-south.
While the current resource is entirely inferred, it showcases promising signs of continuity with mineralization potentially extending beyond depths of 500m. The average grades for total rare earth oxides (TREO) hover around 6000ppm in both initial and upgraded mineral resources, with some samples boasting even higher concentrations.
Moreover, key findings from core samples suggest abundant magnet rare earth oxides critical for various high-tech applications like electric vehicles and power generation equipment. The company’s future plans include further drilling to expand the resource base and advance towards scoping studies.
Greenland’s vast untapped potential as a rare earth minerals hub outside China has attracted global attention. With limited current production but massive reserves estimated at around 1.5 million metric tons, Greenland holds promise for becoming a key player in the global rare earths market.
As Eclipse fast-tracks its exploration efforts at Gronnedal, experts believe that careful evaluation and strategic partnerships could unlock even greater value from this rich source of critical minerals.
The journey towards unlocking Greenland’s rare earth riches is just beginning, with Eclipse Metals leading the charge towards harnessing this precious bounty while reshaping global supply chains for essential elements used in cutting-edge technologies.
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