Published On: June 3rd, 2022
Eclipse Metals Ltd (ASX – EPM) (Eclipse Metals and the “Company”) announced the promising presence of REE mineralization at Grønnedal-Ika from their field sampling in late 2021 and modelling of magnetic survey results. These exploration results provided Eclipse Metals with targets for REE mineralisation, following which, the Company applied for a drilling permit for the 2022 field season.
Caption: Grønnedal-Ika (Ivittuut Project) Total Magnetic Intensity (TMI) map with historic REE sampling results
Caption: Geological Compilation Map, Ivittuut Project MEL2007-45
Magnetic Modelling Survey Results
Magnetic modelling provided a 3D model of the subsurface. This 3D model was further used to gain an understanding of the depth of mineralization and geometry of the bodies.
Following are the results obtained from Magnetic Modelling:
- Sample analyses found a total REE mineralisation of up to 34,000 ppm from the carbonatite samples taken from Grønnedal-Ika. The analysis of the samples revealed the presence of Europium throughout the carbonatite intrusion.
Caption: Grønnedal-Ika Assay Results
- Grønnedal-Ika contains well-known and accessible sources of carbonate rock. These are expected to be suitable for neutralizing acidic by-products from mines and processing water.
- The magnetic modelling concluded that there is a strong correlation between the magnetic zones at Grønnedal-Ika and REE mineralization found in the assays. Additionally, assay results of samples with REE concentrations greater than 4,000 ppm are determined to be samples taken from contact zones of carbonatite or carbonatites from magnetic zones.
From the study, the team at Eclipse Metals has concluded that the magnetite mapped in the electromagnetic data likely clusters in the centre of the complex at Grønnedal-Ika.
Eclipse Metals’ Executive Chairman Carl Popal said, “We are delighted that our modelling and data review has helped determine an REE exploration targeting model and the mineralization’s spatial and genetic relationships. The findings have given us the confidence to proceed with a drilling program. We have applied with the Mineral Resource Authority in Greenland to conduct the drilling program in the field season of 2022.”
Eclipse Metals intends to conduct field reconnaissance, detailed geological mapping, data interpretation and integration, and testing of drilling targets in the Grønnedal-Ika Project. The Company is planning these and other follow-up investigations.
If you are interested to invest in the mining industry then Eclipse would surely be a fit choice. Let’s see how!
- Eclipse Metals exploration projects cover 19 tenements in total. The Company’s flagship Ivittuut Project is a prospect for one of the the largest REE deposits in the world. Ivittuut Project is also wholly owned by the Company.
- Eclipse Metals has executed a binding Heads of Agreement with Oz Yellow Uranium Limited. Under the agreement, after Oz Yellow’s listing on ASX in 2022, Eclipse will receive 30% fully paid shares in Oz Yellow, 28 to 32% unlisted exercisable options, and 2% NSR royalty, and AUD 255,000 in cash.
Eclipse Metals’ recent progress in the Grønnedal-Ika Project is an excellent example of the company’s progress. The Company’s breakthroughs and conclusions from magnetic modelling give an insight into its plans. To know more about Eclipse Metals and their plans, visit the official website.
The Content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video (Content), is a service of COLITCO LLP and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Colitco LLP is neither licensed nor qualified to provide investment advice through this platform. Users should make their inquiries about any investments, and Colitco LLP strongly suggests the users seek advice from a financial adviser, stockbroker, or other professional (including taxation and legal advice), as necessary. Colitco hereby disclaims any the liabilities to any user for any direct, indirect, implied, punitive, special, incidental, or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Colitco LLP. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Colitco LLP does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions, or are believed to be in the public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.