Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Eclipse Metals Ltd (ASX:EPM).
Eclipse Metals is progressing efforts to expand the rare earth elements (REE) resource at the Grønnedal prospect, part of the Ivigtût Project in southwestern Greenland.
The current inferred resource is 1.18 million tonnes, containing 8,070 tonnes of total rare earth oxides (TREO).
The company is re-estimating the mineral resource estimate by analysing historical drill core samples from a small section of the rare earth-enriched carbonatite complex, which accounts for only 5% of the potential mineralised area.
Six samples will undergo x-ray fluorescent analysis to validate and refine resource data.
Additionally, the TESCAN Integrated Mineral Analyser will align chemical and mineralogical information to enhance understanding of resource quality and distribution.
Eclipse has defined a conceptual exploration target for Grønnedal of 175–245 million tonnes of REE mineralisation with grades between 6,000 and 7,000 ppm TREO.
Results from these analyses are expected in the first quarter of 2025, after which the company will initiate drill targeting and planning in a bid to further classify and expand the resource.
Eclipse's work focuses on high-value rare earths while also assessing other critical minerals, such as niobium and gallium, in the Grønnedal resource.