Eclipse Metals Ltd.

Quarterly Activities And Cash Flow Report For The Quarter Ending 31 December 2022

Eclipse Metals Ltd (ASX: EPM) (Eclipse or the Company) is pleased to report its activities for the quarter ending 31 December 2022.


HIGHLIGHTS

IVIGTÛT AND GRØNNEDAL PROJECTS

  • Successful completion of a maiden percussion drilling and trench sampling program
  • XRF analysis of composite samples returned encouraging praseodymium (Pr) and neodymium (Nd) ratios indicative of potential enrichment of these commercially more valuable REE
  • Samples shipped to an Australian laboratory for further analysis.
  • First laboratory results are expected in Q1 CY2023

CORPORATE

  • Eclipse Commences trading on both Frankfurt Stock Exchange and Germany’s Tradegate Exchange

Activities

During a very busy quarter Eclipse was pleased to announce the successful completion of a maiden percussion drilling and trench sampling program at its SW Greenland multi-commodity project (Figure 1). Commencement of the drilling program followed the Minerals Licenses and Safety Authority in Greenland granting Eclipse approval for field activities for the 2022 field season.

The first stage of exploration at its Ivigtût mine precinct and Grønnedal carbonatite in southwest Greenland, was completed in November 2022. Using recently produced geophysical and remote sensing models as a guide, the program was designed to collect sub-surface samples of the REE bearing carbonatite formation and to obtain samples of mineralised waste from the Ivigtût mine.

GRØNNEDAL CARBONATITE

On the Grønnedal carbonatite complex, Eclipse completed 31 drill holes over a ~3.0km by ~1.5km area to vertical depths of between 3m and 22m (Figure 2). A grid pattern was utilised where surface features permitted, with ground conditions varying from very broken to solid rock. Trenches were excavated in areas where drilling was not practicable.

Drill sample testing using a portable XRF analyzer (pXRF)

The pXRF analyses of composite samples recorded in Greenland before shipment have returned encouraging praseodymium (Pr) and neodymium (Nd) ratios. The results indicate that the Grønnedal carbonatite complex could be significant on a global basis with respect to its Pr and Nd content, which are amongst the commercially most valuable rare earth elements (REE).

At the Greenland sample preparation facility, pXRF readings, taken on five 1.5m composite samples from drillhole L3-9, returned an intersection average of 7.5m @ 0.8% La2O3+Ce2O3+Pr2O3+Nd2O3 (4REO), with praseodymium (Pr)/lanthanum (La) and neodymium (Nd)/cerium (Ce) ratios of about 1.2:1, as well as 0.49% Zn+Pb+Ni (Table 1).


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)
Northern Minerals

2025 - Wolverine Mineral Resource Estimate

15% increase in Wolverine Mineral Resource Estimate total TREO1 tonnes
75% increase in Measured & Indicated TREO tonnes

Australia heavy rare earths-focused company Northern Minerals (ASX: NTU) (Northern Minerals or the Company) is pleased to announce a significant increase in the size of the Mineral Resource Estimate (MRE) for the Wolverine deposit at the Company’s Browns Range Heavy Rare Earths Project, in the East Kimberley region of Western Australia.

Keep reading...Show less
Blocks changing from 2024 to 2025.

Rare Earths Market Forecast: Top Trends for Rare Earths in 2025

Rare earths prices saw some gains in May 2024, fueled by positive sentiment over consumer demand in China.

While both dysprosium (Dy) and neodymium-praseodymium (NdPr) oxides benefited from this positivity, Benchmark Mineral Intelligence notes that Dy oxides registered the largest gain, moving 10 percent high month-on-month.

“This was the first-time rare earths prices had recovered after a continuous decline (in 2023), but after a brief recovery, prices are now falling again,” Benchmark pricing and data analyst George Ingall said in a May report.

Keep reading...Show less
Business handshake with Australian money in background.

Australian Rare Earths Finalises AU$5 Million Federal Government Grant Agreement

Australian Rare Earths (ASX:AR3) has signed and finalised its AU$5 million grant agreement under the Australian government's International Partnerships in Critical Minerals (IPCM) program.

The funding will go toward the advancement of the company's Koppamura project in South Australia and Victoria.

“The grant validates the potential of the Koppamurra Rare Earths Project and its strategic importance in building diverse, resilient and sustainable supply chains through strong and secure international partnerships,” the company said.

Keep reading...Show less
Businessmen signing contract.

EVZ Secures Energy and Resources Sector Contracts Worth AU$28.5 Million

Australian engineering services company EVZ (ASX:EVZ) said on Tuesday (January 7) that it has been awarded two contracts in the energy and resources sector through its subsidiary Brockman Engineering.

The contracts are for the engineering and construction of the Hastings fuel terminal expansion, and for storage tanks for the Eneabba rare earths refinery project in Western Australia. In total they amount to AU$28.5 million.

“We are very pleased with the ongoing success of our businesses in the Energy & Resources sectors, as they expand their presence and grow their backlog for the upcoming periods,” said CEO Scott Farthing.

Keep reading...Show less
Different types of rare earth metals magnets laid out over black surface.

Rare Earths Stocks: 5 Biggest ASX Companies

Prices and demand for rare earths have taken a hit in recent years. However, the long-term outlook for these important materials remains positive.

Rare earth elements (REEs) are key metals for high-tech applications, including permanent magnets, which have widespread potential, especially in the technology and electric vehicle sectors.

With future demand looking strong, countries around the world are keen to secure rare earths from sources outside of China — which is good news for rare earths companies in Australia. Indeed, looking at the next couple of decades, the International Energy Agency notes that rare earths demand could double by 2040.

Keep reading...Show less
American Rare Earths Limited

Wyoming Rare USA Secures Strategic Facility to Support Halleck Creek Project

American Rare Earths Limited (ARR) (ASX: ARR | OTCQX: ARRNF, AMRRY) is pleased to announce that its wholly owned subsidiary, Wyoming Rare (USA) Inc., has secured a facility at the Western Research Institute in Laramie, Wyoming. This significant development marks a key step forward in the company’s efforts to progress the Halleck Creek Rare Earths Project and enhance its operational capabilities in the region.

Keep reading...Show less

Latest Press Releases

Related News

×