Published On: October 5th, 2022
Eclipse Metals Ltd (ASX: EPM), the Australian mineral exploration company, has engaged a leading Europe-based consultancy group to commence the Environmental and Social Impact Assessments (EIA and SIA) for its multi-commodity ‘Ivittuut Project’ in South-west Greenland. The EIA and SIA studies will give Eclipse Metals a clear picture of moving forward with the development of Ivittuut (also known as Ivigtût).
OVERALL VIEW OF IVITTUUT AND THE CRYOLITE MINE
Throwing Light on the Potential of Ivittuut
Ivittuut, with a 120-year cryolite mining history, is the world’s largest and only known source of naturally occurring cryolite (a substance used in the production of Aluminium)A combination of surface sampling, historical drill core analysis and satellite imagery analysis had indicated that, in addition to cryolite, the historical mine and the broader project area has enormous potential for rare earth and high-purity quartz. Eclipse moves to develop its understanding of these critical minerals, and explore these new targets during its October 2022 drill program.
GENERALISED PROFILE OF CRYOLITE, QUARTZ AND FLUORITE EMPLACEMENT
The EIA and SIA assessments conducted by the group will be beneficial for the company’s progress in the development of Ivittuut which has rare earth potential and is a prerequisite for Eclipse’s application for a mining licence.
Eclipse Executive Chairman Carl Popal stated, “Overall, results of this work will put Eclipse in a better position with a greater understanding of potential impacts on these aspects so that we can make decisions on Ivittuut’s development.”
Eclipse’s Executive Chairman Carl Popal added, “In Greenland, all projects need to complete an EIA and SIA as part of any mining licence application so once this work is complete we will have a better understanding of what’s needed to move forward at Ivittuut.”
Mineral resources companies must prepare SIA and EIA assessments in connection with developing mineral projects in order to align with the Greenland Parliament Act of 7 December 2009 on mineral resources and mineral resource activities (the Mineral Resources Act).
The study conducted by the group will assist with the overall project description, collection of baseline data, stakeholder mapping, public consultation, and other environmental and social studies. It usually takes two to three years to complete and submit the reports. However, with supporting documents and reports in hand, Eclipse Metals expects that this timeframe will be reduced.
Also Read: All You Need to Know About Eclipse Metals
Recent Approvals
Eclipse Metals (ASX: EPM) recently received approval from Greenland’s Mineral Licences and Safety Authority (MLSA) to commence its 2022 field season at Ivittuut. The field season will include a planned drill programme at the Grønnedal REE prospect, which is expected to commence in early October 2022 in order to analyse the country’s abundance of rare earth
SATELLITE IMAGE OF MEL2007-45 AND IVITTUUT AND GRONNEDAL AREAS
Investor Outlook
Eclipse Metals Limited (ASX: EPM) ranks 80 of 170 in the Energy Sector and has a Market Cap of $42,509,394 with a total of 2,024,256,848 shares issued. Eclipse Metals’ share price is A$0.025 as of June 2022.
The company has an impressive multi-commodity portfolio of Greenland mining projects and assets in Australia with potential for uranium, manganese, gold, vanadium, and other precious metals in 19 tenements and applications in the Northern Territory and Queensland spanning over an area of approximately 9,200 sqkm.
Eclipse Metals, one of the progressing minerals and uranium mining companies in Australia, has amazing scope for the share market, partner collaborations, and research and development fields. Visit the company website to know more details on shares, investments, and market cap.
Also Read: Eclipse Metals Ltd.: Application for a Drilling Permit at Grønnedal-Ika
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