
November 06, 2023
Eclipse Metals Ltd (ASX: EPM) (Eclipse or the Company) (ASX: EPM | FSE: 9EU) is pleased to provide an update on the scoping phase, progress toward a mining license, and completion of the Social and Environmental Impact Assessment (SIA and EIA).
Highlights
- Progress made towards mining license
- Dewatering of the pit to commence during the 2024 field season
- Positive response and guidance from the Danish Centre for Environment and Energy (DCE) and Greenland Institute of Natural Resources (GINR)
- Step closer to applying for a mining licence for the Ivigtût and Grønnedal prospects
The Company has now received a positive response and guidance from the Danish Centre for Environment and Energy (DCE) and Greenland Institute of Natural Resources (GINR) upon reviewing Eclipse Metals initial Scoping and Terms of Reference report for its mining license 2007/45 at Ivigtût (Ivittuut) (refer to ASX announcement 6th April 2023). Eclipse has submitted the reports to Greenland’s Mineral Licence and Safety Authority (MLSA) to progress the Ivigtût project.
Several recommendations have been made to the Company, including sampling of the water prior to dewatering the pit. The Company is confident of being able to meet all requirements and expects progress to be made toward a mining license during 2024. The Company will complete water sampling this month and will collect samples of blue mussels and seaweed for assessment as a comparison from around the historic sampling stations (mentioned in the 1995 environmental report) within the Ivigtût mine coastal marine precinct.
Eclipse is looking forward to commencing the pit dewatering process during the 2024 field season and to gaining access to the mineralisation within the pit environment, which contains zinc, quartz and cryolite (refer to ASX announcements 10th March and 29th March 2021).
Eclipse Metals Executive Chairman Carl Popal said “We are excited to receive positive feedback from DCE and GINR, which brings the Company one step closer to applying for a mining licence for the Ivigtût and Grønnedal prospects. The Company is focused on the environmental, social and governance (ESG) aspects of its project portfolio and is committed to complying with internal ESG policies and protocols. The Company will remain focused on these environmental and social aspects as it progresses project development.
The Company is developing its project portfolios consisting of abandoned mines with the potential to not only minimise the mining footprint but further restore the dynamic use of former mining land with potential for REE and critical minerals such as at Ivigtût. Rejuvenating the Ivigtût mine project will add value in supplying the high-tech EV revolution and green energy requirements with the additional potential of REE plus industrial and critical minerals.”
Click here for the full ASX Release
This article includes content from Eclipse Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
EPM:AU
The Conversation (0)
25 March 2024
Eclipse Metals
Overview
Eclipse Metals Ltd. (ASX:EPM) is an exploration and mining development company focusing on multi-commodity assets that support the world’s decarbonization goals. The company has a robust portfolio of projects in Australia and Greenland targeting crucial minerals, including rare earth elements (REEs), lithium, zinc, manganese, high-purity quartz, gold, copper, vanadium and uranium.
Governments worldwide have set ambitious goals to reach net-zero emissions in the coming decades, highlighting miners that supply the critical minerals required for low-carbon technologies, which is expected to consume a growing percentage of the world’s total mineral production, with vital elements growing by over 100 percent by 2050, according to the World Bank.Greenland REE deposits
Eclipse Metal’s flagship asset in Greenland, the Ivigtût project, contains known REE mineralization, industrial minerals and lithium potential.
Multiple academic research and significant rare earths results obtained by Eclipse Metals to date imply that the Grønnedal prospect (located 10 kilometers northeast of Ivigtût) has the potential to contain significant rare earth mineralization. This presence is consistent with other rare earth-bearing carbonatite-syenite intrusive complexes and has elevated ratios in praseodymium (Pr), neodymium (Nd), with enriched in dysprosium (Dy),
zirconium (Zr) and niobium (Nb) — elements that are crucial in the global journey toward a low-carbon, net-zero-emission future. As a mining-friendly jurisdiction, Greenland has an established infrastructure, reducing future development costs.
Additionally, the Ivigtût project contains a high-grade quartz body, a required material for high-end electronics and semiconductors. Eclipse Metals has begun its initial exploration drilling campaign and developed the project’s environmental impact assessment.
Eclipse Metals’ portfolio also includes Australian assets targeting uranium, copper and manganese as part of the company’s mission to support decarbonization. Its Northern Territory and Queensland assets allow the company to capitalize on existing infrastructure and mining-friendly local governments. The company’s uranium assets are in close proximity to other world-class deposits, allowing Eclipse to benefit from existing infrastructure and community support.
A sound management team with decades of experience in the natural resource industry leads Eclipse Metals. The team’s breadth of expertise includes mineral exploration, geology, corporate administration, metallurgy and international trade, creating confidence in the company’s ability to capitalize on its assets.
Company Highlights
- Eclipse Metals is an exploration and mining development company with assets in Greenland and Australia, supporting the world’s decarbonization goals.
- The company’s flagship Ivigtût multi-commodity asset in Greenland exposes the company to REEs, high-purity quartz, and other industrial metals required for emerging technologies.
- Greenland is a mining-friendly yet underexplored jurisdiction, creating tremendous opportunities for the company.
- Eclipse Metals’ portfolio of assets in Australia includes projects in Queensland and the Northern Territory in world-class mining jurisdictions.
- The company has begun its initial exploratory drilling campaign in Greenland and is progressing on the project’s environmental impact assessment for the mining license.
- An experienced management team leads Eclipse Metals with decades of experience in the mining industry.
Get access to more exclusive Rare Earth Investing Stock profiles here
Keep reading...Show less
Pursuing Multi-commodity Assets to Support Decarbonization
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00