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Eclipse Metals Ltd (Eclipse or the Company) (ASX: EPM | FSE: 9EU) ) is pleased to report its activities for the quarter ending 30 June 2023.
HIGHLIGHTS
IVIGTÛT AND GRØNNEDAL PROJECTS
- Sampling of deep diamond drillhole (Hole A) drilled into the centre of the historic Ivigtût mine in 1948 provides new insights into the polymetallic mineralisation.
- Hole A intersected a 12.7m upper zone of iron-zinc mineralisation and a 3.7m lower iron-zinc-copper zone, both accessible from Ivigtût's existing pit.
- Historic drill holes into these zones returned maximum assay values of 1.7% Cu, 18.2% Zn and 7.7% Pb.
- XRF analysis of the historic drill core has detected gold, silver, bismuth, tin and tungsten within the iron-zinc ± copper zones, warranting further investigation.
- Analysis also detected elevated niobium in the greisen body underlying the lower iron- zinc-copper zone. The greisen is known to be enriched in REE, niobium, tin, tantalum and tungsten. Further investigation is warranted.
- Encouraging mineralogical determinations from Grønnedal, with composite ferro- carbonate mineral containing elevated medium to heavy REE
- Grønnedal Pr+Nd account for 55% of the measured 4REE (La+Ce+Pr+Nd)
- Ongoing assessment of material found over a wide area in Grønnedal
- Eclipse completes scoping phase of Environmental and Social Impact Assessments for Ivigtût and submitted reports to Greenland’s Mineral Licence and Safety Authority (MLSA) to progress the Ivigtût project
- Completion of these are integral to applying to the MLSA for a Mining Licence
- Field Work Application approved by Greenland’s Mineral Licence and Safety Authority (MLSA).
- Collaboration with University of Delaware regional development study expected to assist with Eclipse’s Social Impact Assessment
- Working closely with the laboratory in Australia to analyse samples from Ivigtût and Grønnedal
IVIGTÛT (IVITTUUT) PROJECT– GREENLAND
Sampling of Historic Ivigtût Drill Core confirms Polymetallic Mineralisation
During the quarter, Eclipse gained access to historic drill core from Exploration Drillhole A (Hole A) (Figure 1), which was drilled vertically into the centre of the Ivigtût multi-commodity deposit in Greenland in 1948.
Examination of Hole A by Eclipse has served to visually corroborate reports of mineralisation remaining under the present Ivigtût pit floor (Bondam, 1991). The assessment has also served to substantiate significant grades of zinc in a previously identified southwest-dipping tabular body (Domain 2) located directly beneath Domain 1 of the mined cryolite-fluorite body (Figures 2 and 3) (ref ASX announcement dated 10th March 2021).
Figure 1. Location of Exploration Drillhole A, which was drilled vertically from the bottom of the pit (54.00m below sea level) into the centre of the Ivigtût multi-commodity deposit in 1948. Collar details are provided in Table 1.
Spot measurements taken with a portable X-ray fluorescence analyser (pXRF) returned promising zinc and niobium results from certain downhole intervals of Hole A, along with highly anomalous spot values of lead, copper, gold, silver, bismuth, tin and tungsten (Figure 4). Whilst zinc (results ranging from 0.3% to 18.2% Zn), copper (0.04% to 1.7% Cu) and lead (0.05% to 7.7% Pb) are known from the historic Ivigtût drillhole assay data (ref ASX announcement dated 10th March 2021), the presence of niobium as well as gold, silver, bismuth, tin and tungsten warrants further investigation.
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EPM:AU
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.
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Pursuing Multi-commodity Assets to Support Decarbonization