www.ggg.gl
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 to kick off 2011 Field Program at Kvanefjeld multi‐element project
Greenland Minerals and Energy (ASX: GGG) will shortly commence the 2011 field program at the Kvanefjeld project in south Greenland, recognised as the world’s largest undeveloped JORC Resource of rare earth oxides (REO).
All work programs are part of the expanding feasibility studies focused on the development of a mine at the multi‐element deposit which is also enriched in uranium and zinc.
Greenland Minerals and Energy is aiming to deliver a Definitive Feasibility Study for Kvanefjeld as its tier‐one asset, which has the potential to become one of the world’s largest and most cost‐effective producers of Rare Earth Elements.
Programs will include resource development drilling to establish initial JORC resource estimates at recently discovered multi‐element deposits located within the broader project area.
Previous drill intercepts from these deposits were released in early 2011, and confirmed that extensive multi‐element mineralization occurs up to 7 km from the resource at Kvanefjeld.
Three diamond drill rigs will be deployed with the aim of drilling approximately 15,000 m across the season.
The company also plans sterilisation drilling in potential infrastructure locations. Holes are planned to the east of the northern Ilimaussaq Complex.
Previous sterilization holes drilled in 2009 adjacent to the Kvanefjeld plateau revealed a significant extension of mineralization from outcropping zones at Steenstrupfjeld.
Stakeholder engagement programs will be conducted along with ongoing environmental baseline studies in areas under assessment for the mine site, processing plant and related infrastructure, and potential hydro‐electric power facilities.
A series of meetings recently took place in Greenland in early April to discuss the ‘terms of reference’ for upcoming social and environmental impact assessments with key stakeholder groups. This follows the procedures specified by Greenland’s Bureau of Minerals and Petroleum.
In addition, there will be field assessments for constructability studies relating to site selection for key infrastructure items.
Key personnel have now mobilised to the company’s operations base in Narsaq, south Greenland, and drill crews will be arriving onsite in the coming days.
GMEL said it is is fully funded to September 2012 by the exercise of the options that expire 30 June 2011. The company is currently in discussions with a number of investment banks and broking firms in regard to the underwriting of these options.
An Interim Pre‐feasibility Report on the Kvanefjeld study was released in February that indicates the potential for the multi‐element resources to sustain a large‐scale mining operation for decades.
On March 31 the company delivered a significant upgrade in the resource estimate at the project with a 619 million tonne JORC‐code compliant resource.
The company has since been ramping up its technical capacity to facilitate the feasibility program at the project.
