AUS
NZ
UK
CA
USA
IND
_06_16_2026_04_54_27_535266.jpg)
Highlights
Critical Metals awards drill contract for Greenland’s rare earth Tanbreez project
European Lithium (ASX:EUR) holds majority stake in Nasdaq-listed Critical Metals Corp
Drilling targets resource upgrade and expansion at Fjord Deposit
European Lithium Ltd (ASX:EUR), (OTCQB:EULIF), listed on the ASX 200, has reaffirmed its role in critical minerals development through the backing of a diamond drilling initiative by its majority-owned Critical Metals Corp (Nasdaq:CRML). The drilling program, set to commence in July, will focus on upgrading and expanding the resource footprint at the Tanbreez Rare Earth Project in Greenland.
The contract has been awarded to Greenland-based 60 Degree North and aims to advance exploration of the Fjord eudialyte resource. This development aligns with Critical Metals' broader goal of becoming a key supplier to clean energy value chains.
Resource Expansion Aligned with US EXIM Bank Financing Milestone
The drilling contract follows the signing of a Letter of Intent for development funding from the Export-Import Bank of the United States. This financial milestone is expected to support further progress toward production readiness at Tanbreez — a globally significant rare earth deposit.
Exploration activity will include infill and step-out diamond drilling, targeting new extensions northeast and southwest of the known mineralised zones. The drilling design also supports upgrading the existing Inferred Resource to Indicated status, a critical step in advancing project development.
Drilling to Focus on Fjord Deposit Extensions and Infill Zones
The proposed program involves resource-focused drilling over the Fjord MRE area, which forms a substantial part of the broader Tanbreez deposit. The campaign is structured to improve geological confidence and potentially increase the overall Mineral Resource Estimate by extending known eudialyte-hosted mineralisation.
Planned drill holes are strategically placed to evaluate continuity of mineralisation and provide data for future modelling and feasibility work. Topographical considerations will influence hole depths, which are designed to range across various zones within the mapped deposit area.
Broader Strategy Anchored in Clean Energy Supply and European Lithium Portfolio
Critical Metals’ portfolio also includes the Wolfsberg Lithium Project in Austria, which is positioned as Europe’s first fully permitted lithium mine. With established infrastructure and supply chain agreements, Wolfsberg complements the rare earths focus at Tanbreez by offering a diversified path to energy transition materials.
In addition to its majority stake in Critical Metals, European Lithium retains interests in other Austrian mineral assets. These holdings align with the strategic objective of supporting battery supply chains across the European region.
