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Greenland Minerals and Energy Ltd, is a mineral exploration and development company, focused on unlocking the mineral riches of Greenland, one of the world’s last natural resource frontiers. Our aim is simple; to identify large mineral deposits with the potential to underpin long term, economically robust mining operations. This is achieved through technically-focused exploration, aggressive resource development programs, and a strong understanding of the fundamentals that drive the business of mineral exploration and development globally.
Our flagship project is Kvanefjeld, a multi-element deposit located near the southwest tip of Greenland. Through focused exploration, Kvanefjeld is rapidly growing to become one to the world’s largest undeveloped deposits of rare earth elements, uranium and naturally occurring sodium fluoride, commodities with long term forecasts for strong demand increases.
Greenland Minerals and Energy drilling unveils new rare earths and uranium discovery
Greenland Minerals and Energy (ASX:GGG) has revealed a substantial new multi-element deposit within the northern Ilimaussaq Complex at Zone 2 from drilling in 2010 - just 6 km south of the first discovery at Kvanefjeld.
Results from drilling indicate this second multi-element deposit has strong grade and continuity of multi-element mineralization: Hole S006 returned 185 metres at 1.2% TREO, 442 ppm U3O8.
Of particular interest, of the twelve holes drilled to date, all have intersected mineralized lujavrite (host to resources at Kvanefjeld), and nine holes have each returned greater than 100 metres in cumulative intercepts.
Results from drilling at Zone 2 during 2010 have confirmed the presence of a large body of lujavrite that returned encouraging rare earth elements and uranium grades, with strong continuity over broad intervals.
Other Zone 2 highlights included:
- 185 metres at 1.2% TREO, 442 parts per million (ppm) uranium (U3O8), 0.34% zinc (Zn);
- 131m at 1.3% TREO, 447 ppm U3O8, 0.34% Zn;
- 116m at 1.2% TREO, 440 ppm U3O8, 0.34% Zn.
The deposit remains open in a northerly direction and also to the east. Zone 2 is one of three new mineralized zones outside Kvanefjeld that has now been confirmed with drilling.
A 457 million tonne JORC Resource has already been defined at Kvanefjeld, which represents just a small percentage the broader Ilimaussaq ore field.
Importantly, drilling has identified an upper lens at Zone 2 that locally exceeds 160m in thickness, and is of a higher grade tenor than resources defined at Kvanefjeld.
The style of mineralization is the same as that at Kvanefjeld, for which the Company has established as base-case process flow sheet that is outlined in the Interim Pre-feasibility Report.
The resources of the northern Ilimaussaq complex offer the potential to produce both a light and heavy rare earth product, uranium and zinc concentrates, fluoride compounds and a zirconium product.
GMEL’s base-case scenario evaluates an operation to produce a rare earth concentrate, and a uranium oxide product.
Current metallurgical programs are advancing the process route to produce both a light and heavy rare earth product (including yttrium), uranium and zinc concentrates.
Upcoming drill campaigns in 2011 will now aim to establish initial resources at these new target areas with an emphasis on pursuing higher grade material.
In 2011 GMEL is planning on closing out the current Pre-Feasibility Study with a final report before commencing a Definitive Feasibilty Study in the latter half of the year.
