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).


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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.

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