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- Eclipse Metals (ASX:EPM) has recorded grab samples with total rare-earth grades (TREE) up to 34,468 ppm at the Gronnedal-lka carbonatite deposit.
- EPM has identified the potential for untapped rare earth, siderite, sphalerite, high-grade quartz, cryolite and carbonate material at the European project.
- The tenement was recently transferred to a wholly-owned subsidiary of EPM.
Minerals explorer Eclipse Metals Limited (ASX:EPM) has announced the REE laboratory assay results for the historical surface samples at the Ivittuut project in south-western Greenland. The historical surface samples were collected at Gronnedal-lka within the tenement MEL2007/45.
It is to be noted that the tenement was recently transferred to a wholly-owned subsidiary of EPM following approval from Greenland’s Minister of Finance, Industry and Minerals Resources.
Source: EPM ASX Update 2 March 2021
The latest assay results identified the potential for REE mineralisation which was earlier not recognised during the historical mining operations. EPM has identified strong prospectivity for untapped rare earth, siderite, sphalerite, high grade quartz, cryolite and carbonate material at the European project.
TREE grades up to 34,400 ppm recorded at the carbonatite deposit
The grab samples recorded the total rare-earth grades (TREE) up to 34,468 ppm at the Gronnedal-lka carbonatite deposit. The project also holds potential for carbonate rock as a commercial by-product at the project.
EPM has identified a strong correlation between the REE mineralisation at the project and the magnetic zones. The assay results with grades more than 4,000 ppm TREE are interpreted to be associated with carbonatites within the magnetic zones or are located on the contact edges of the carbonatite bodies.
Further, the potential for Europium was also recognised within the carbonatite intrusive bodies. Also, the mineral Europium is extremely short in supply around the world and is used in the nuclear reactor control rods and superconducting alloys.
The Gronnedal-lka deposit is the only known carbonate rock source in entire Greenland that can be suited for neutralising acid mine and process water. The carbonite products from the mine could be easily shipped from the existing port infrastructure at Gronnedal.
EPM closed at A$0.0.019 a share on 2 March 2021, registering an increase of ~11.76% against the previous close with a market capitalisation of A$31.67 million.
(All financial information pertains to Australian Dollars unless stated otherwise.)