Total
0
Shares
Eclipse Metals (ASX:EPM) -
The Ivittuut Project. Source: Eclipse Metals.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Eclipse Metals (EPM) has confirmed high-grade rare earth mineralisation at the Gronnedal-Ika deposit, which is part of the Ivittuut Project in Greenland
  • Eclipse collected historic surface samples from the carbonatite deposit to test its rare earth element potential
  • Pleasingly, sampling returned total rare earth elements (TREE) grading up to 34,468 parts per million (ppm)
  • Sampling also confirmed the deposit contains europium with a peak value of 423 ppm
  • Eclipse Metals will now plan a systematic geochemical survey to define drilling targets
  • EPM is up 29.4 per cent and shares are trading at 2.2 cents

Eclipse Metals (EPM) has received assays for historic surface samples collected from the Gronnedal-Ika deposit, which is part of the Ivittuut Project in Greenland.

The Ivittuut Project was once the world’s largest and only source of naturally-occurring cryolite, which is an extremely rare mineral in commercial quantities. It’s used to reduce furnace temperature when extracting aluminium from bauxite ore. 

While the area was never systematically explored for rare earth element (REE) mineralisation, the potential to host REEs was noted in academic journals.

Pleasingly, Eclipse has not only confirmed the presence of high-grade REE mineralisation at the Gronnedal-Ika deposit, but has found mineralisation is more widespread than originally believed.

The grab samples returned total rare earth elements (TREE) up to 34,468 parts per million (ppm), with seven out of 16 samples recording grades of more than 10,600 ppm.

Eclipse also confirmed the whole deposit contains europium with a peak value of 423 ppm.

Some of the highest mineralisation was related to north–south carbonatite dykes which are characterised by shearing and fenitisation that can be traced over several kilometres north. More late-stage carbonatite dykes and fenites are known to exist in the area but haven’t been mapped or systematically sampled.

“These REE results show high europium values amongst other REEs, which are in extremely short supply around the world. Many of these samples were collected from carbonatite in Gronnedal, but the highly altered surrounding rocks also offer excellent mineralisation potential,” Executive Chairman Carl Popal said.

“The REE prospectivity fits well with our mission to excel in the commercialisation of metals and minerals demanded in the production of green energy and required by the industry to reduce pollutants,” Carl added.

Eclipse Metals will conduct further work at the project, including a systematic geochemical survey to define drilling targets.

EPM is up 29.4 per cent and shares are trading at 2.2 cents at 11:20 am AEDT.

EPM by the numbers
More From The Market Herald
XAM

" Xanadu Mines (ASX:XAM) updates Kharmagtai resource to 1.1 Billion Tonnes

Xanadu Mines (XAM) has updated its copper-gold resource estimate at the Mongolian-based Kharmagtai mine to 1.1 billion tonnes.
Nickel Mines (ASX:NIC) Managing Director, Justin Werner

" Nickel Mines (ASX:NIC) proceeds with nickel project acquisition

Nickel Mines (NIC) and Shanghai Decent Investment Group have chosen to proceed with the acquisition of a nickel project in Indonesia.

" Duketon Mining (ASX:DKM) receives assays at C2

Duketon Mining (DKM) has received assays for diamond drill hole DKDD0030 at its C2 nickel deposit. C2 is a komatiite-hosted nickel sulphide deposit.
Native Mineral Resources (ASX:NMR) - Managing Director and CEO, Blake Cannavo

" Native Mineral Resources (ASX:NMR) raises additional $1.8m

Native Mineral Resources (NMR) has received commitments to raise nearly $1.8 million of its rights issue shortfall with new investors.