Proactive’s Tylah Tully breaks down Just the Facts of the latest news from Eclipse Metals Ltd (ASX:EPM).
Eclipse has confirmed extensive rare earth element mineralisation at the Grønnedal prospect within its Ivigtût Project in Greenland.
The company utilised HyperXRF technology to assess historical drill core, identifying mineralisation that extends to a depth of at least 50 metres.
This data has led to a conceptual exploration target ranging from 175 to 245 million tonnes of REE mineralisation.
The company also observed high neodymium concentrations in core from six historical diamond drill holes, with consistently high neodymium ratios from surface to at least 200 metres of depth.
These findings indicate a significant rare earth deposit, featuring elevated levels of medium rare earth elements.
In addition, Eclipse has pinpointed seven conductive targets for further exploration, based on a previous airborne electromagnetic survey.
It estimates that the mineralisation could extend as deep as 500 metres or more.
The next phase of the project involves conducting spot chemical analysis to further refine and validate the XRF results, aiming to accurately measure the resource's potential.