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![Eclipse Metals](https://investingnews.com/media-library/eclipse-metals.png?id=50575647&width=1200&height=799)
Historical Drill Core from Ivigtût Project to be Tested to Extend Resource Estimation
Eclipse Metals Ltd (ASX: EPM) (Eclipse Metals or the Company) is pleased to announce a significant development in its Ivigtût multi-commodity REE Project in southwestern Greenland. The Company has been granted access to 1940s-era archived historical diamond drill core, which has demonstrated high-grade rare earth element (REE) results from initial core samples, as released in November 2021.
Highlights
- Eclipse Metals confirms access to 19,000 metres of historical diamond drill core from the Ivigtût project area in Greenland, including 6 holes drilled to a depth of up to 200m within Gronnedal carbonatite REE mineralisation.
- The company’s access to this drill core will enhance its mineral resource estimation efforts and act as a guide for future drilling within a 3 km by 800 m section of REE carbonatite footprint as well as within the historic Ivigtût mine.
- Previous sampling of historical drill core from Gronnedal carbonatite returned high-grade results of up to 22,695 ppm TREO (Total Rare Earth Oxides), with significant europium values (Eu).
- Assayed samples of drill core from the large quartz target below Ivigtût pit returned silica ranging up to 99.7% SiO2.
- The historical drill core samples will be exported from a Greenland core-shed to European Laboratory for hyperspectral scanning for elemental analysis, to enhance the existing resource size and better understand the deposit at depth.
Core trays carrying about 2,500 metres of the archived drill core from Ivigtût and Gronnedal are in preparation for export from Greenland for comprehensive analytical assessment by a European Laboratory.
This strategic access will enable Eclipse Metals to minimise the costly process of extensive diamond drilling to increase the current mineral resource estimate (MRE) within Gronnedal and allow it to better plan future drilling programs focusing on the 3 km by 800 m section of REE-bearing ferrocarbonatite and the polymetallic Ivigtût pit. Historical holes at Gronnedal were originally drilled to explore magnetite deposits on contact zones of later intrusive dolerite dykes but also intersected carbonatite carrying light and heavy REE.
Modelling of historical exploration data from the Ivigtût cryolite deposit indicates the presence of a 220 m- wide and 90 m-thick cylindrical body of high silica grade, low-impurity quartz below the pit floor as defined by historical drilling (Figure 6). Laboratory analysis of quartz samples determined it can be further purified with a simple acid wash process to substantially increase the grade to 99.9% SiO2. By removing impurities, this has the potential to make this quartz suitable for the high-tech semiconductor industry, further enhancing the value of this industrial mineral project (Figure 7).
Figure 1: Eclipse Metals’ location map for its MEL2007-45 tenement, showing the historical Ivigtût mine and the Gronnedal prospect, with an inset map that highlights the location of three historical drill holes.
Gronnedal REE Carbonatite
Recent work on Eclipse Metals’ Gronnedal rare earth prospect has demonstrated extensive potential for a large mineralised system. Recent findings, including the Gronnedal mineral resource estimate, suggest that rare earth mineralisation extends over a 5 km by 2 km area, with an initial exploration target focusing on a 3 km by 800 m section of ferrocarbonatite. This mineralisation with the presence of significant deposits of rare earth elements, including notably high ratios of neodymium (Nd) and praseodymium (Pr), positions Eclipse’s Ivigtût Project as a potentially vital contributor to the global supply chain of these critical elements within the European territory.
Figure 2: Eclipse Metals will export sections from these pallets of Gronnedal and Ivigtut core drilled in the 1940s from storage in Greenland to a European Laboratory to use in upgrading its rare earth and quartz resource.
Selected rock-chip samples of core from three of the diamond-cored holes drilled in the Gronnedal carbonatite complex in the 1940s returned very significant analysis for rare earth elements with up to 22,695ppm total rare earth oxides (sample IVT 21 – 3) (Figures 3 and 4), (ASX announcements 15 and 22 November 2021).
Eclipse is now planning to utilise a recently developed, non-destructive procedure to analyse drill core with a cost-effective hyperspectral scan method in Europe. This not only represents substantial future cost- saving but accelerates the timeline for a potential extension of the Gronnedal MRE announced in February 2024, which reported 1.18 million tonnes to a depth of only 9.5 m. The five historical drill holes to be tested range in depth from 58 to 201 m; much deeper than drilling results utilised in the recent MRE.
Recent findings at Gronnedal indicate a large ferrocarbonatite footprint which is significantly mineralised with rare earth elements, including notably high ratios of neodymium (Nd) and praseodymium (Pr) magnetic REE. The grade range for the 3 km by 800 m footprint comprises a notable proportion of magnet REE (neodymium and praseodymium,dysprosium, and terbium), which has the potential to be competitive with other REE projects globally. This positions Eclipse’s Ivigtût project as a potentially vital contributor to the global supply chain of these critical elements.
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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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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.
Key Projects
Ivigtût Multi-commodity Project
The flagship Ivigtût project has a 120-year mining history, having produced 3.8 million tons of cryolite to support aluminum production. The settlement of Kangilinnguit (Grønnedal) approximately 5.5 kilometers to the northeast of Ivigtut provides access to an existing port. In addition, the project is close to existing infrastructure, including a power station, wharf and heliport, which minimizes future development costs.
Project Highlights:
- A Multi-commodity Project: The asset is known to host REEs and undiscovered polymetallic potential. In addition to REEs, the project contains other minerals, which include:
- Cryolite
- Fluorite
- High silica-grade quartz (99.9 percent SiO2)
- Zinc
- Iron
- Lithium
- Rich Exploration Potential: The asset’s area includes a source of carbonatite minerals and REEs, with deposits occurring in the project area that offers additional exploration opportunities to expand known resources. Eclipse Metals is presently strategically exploring the asset, with a drill program, planned pit dewatering, and sampling of 19,000 meters of historical drill cores.
- High-grade Quartz Opportunity: High-grade quartz is necessary to produce photovoltaic products, such as semiconductors and other high-end electronics. The asset contains over 5 million tonnes of quartz mineralization with up to 99.99 percent silica grade.
The company completed scoping phase reports of social and environmental impact assessments for its Ivigtût project with the assistance of Danish consultancy, COWI. The reports are integral to applying to Greenland’s Mineral Licence and Safety Authority for a mining license.
Eclipse also completed its maiden percussion drilling and trench sampling program at the Ivigtût mine site and Grønnedal carbonatite complex.MEL2007-45 Location map and exploration drill targets
Northern Territory Uranium projects
Liverpool Uranium Project
The Liverpool project comprises five exploration licenses totalling 1,464 square kilometers in the Northern Territory, a proven uranium district. The advanced exploration target contains multiple drill-ready targets.
Project Highlights:
- Nearby World-class Deposits: The Devil’s Elbow prospect within the asset is near several world-class deposits, including:
- Ranger 1 No 1: 0.34 percent uranium
- Ranger 1 No 3: 0.17 percent uranium
- Nabarlek: 1.95 percent uranium
- Jabiluka 1: 0.25 percent uranium
Encouraging Sample Results:
- Samples from shallow trenching yielded high-grade uranium assays including 3.2 percent uranium oxide, 3.7 percent uranium oxide, 4.40 percent uranium oxide, and 5.8 percent uranium oxide, with 38.1 g/t gold and 28.02 g/t palladium, related to fractures within altered amygdaloidal basalt of the Nungbalgarri Volcanics.
- Samples from the radioactive volcanic boulders returned assays of up to 1,720 ppm uranium (0.17 percent uranium), 1,210 ppm uranium (0.12 percent uranium) and a peak value of 3,300 ppm uranium (0.33 percent uranium).
Ngalia Basin Uranium Project
As Eclipse Metals’ second Northern Territory project, the Ngalia Basin project comprises eight exploration licenses totaling 7,280 square kilometers.
Project Highlights:
- Drill-ready Targets Identified: The company has identified two high-priority drill-ready targets within granted tenements.
- Benefitting from Previous Explorers: The asset’s previous explorers discovered anomalous uranium values, streamlining Eclipse’s exploration program and creating a clear progression path.
Mary Valley Manganese Project
The company’s Queensland project covers 35 square kilometers and is 16 kilometers southwest of Gympie Township. The Mary Valley hosts historic mines, such as Amamoor, which produced roughly 20,000 tonnes at 51 percent manganese. In addition, existing road and power infrastructure significantly reduce future development costs.
Project Highlights:
- Promising Historical Results: Drill results from the previous explorer include:
- 2018 drilling: 3.2 meters at 59.8 percent manganese dioxide
- 2020 shallow drilling: 3.5 meters at 24.9 percent manganese dioxide from the surface
- High-grade Manganese Potential: As an essential component in lithium-ion batteries, high-grade manganese is growing in demand. The Mary Valley deposit may support mill feed for a beneficiation plant capable of producing marketable, high-grade manganese.
- Encouraging Intersection: Previous diamond drill holes produced encouraging results, including:
- ADD 006 – 8.8 to 12 meters manganese oxide = 59.8 percent
- ADD 007 – 14.9 to 17.3 meters manganese oxide = 26.3 percent
- ADD 010 – 0.0 to 5.0 meters manganese oxide = 16.8 percent
Rock Hill Copper Project
The Northern Territory Rock Hill copper project contains encouraging copper-silver mineralization. Eclipse Metals plans to conduct airborne electromagnetic surveys and reverse circulation drilling over the mineralized zones, followed by diamond drilling. The potential mineralized corridor extends for over 10 kilometers.
Project Highlights:
- Promising Historical Results: Historical results indicate upside potential including:
- 3.0 meters at 1,420 g/t silver from 6.1 meters
- 11.6 meters at 0.43 percent copper from 58.2 meters
- 0.3 meters at 4.6 percent copper and 10 g/t silver
- 0.3 meters at 10.20 percent copper, 27 g/t silver
Management Team
Carl Popal - Executive Chairman
Carl Popal has more than 20 years of entrepreneurial experience covering a diverse range of commodities trading, corporate management, minerals exploration, asset management and construction, to name some. Previously, Popal was chief executive director of ASX-listed company Paynes Find Gold Ltd. He is the managing director of Ghan Resources Pty Ltd and Popal Enterprise Pty Ltd. Since 2001, Popal has managed several entities conducting international trading. He has more than 12 years’ experience in property development and has managed various commercial dealings within a network of companies around the world including in India, China and Malaysia.
Rodney Dale - Non-executive Director
Rodney Dale holds a Fellowship Diploma in geology from the Royal Melbourne Institute of Technology and is a Fellow of the Australasian Institute of Mining and Metallurgy. His experience covers more than 60 years, working in many parts of Australia, Indonesia and Africa on gold, tin, wolfram, base metals and industrial mineral exploration and mining, including trial mining and export of high-grade quartz. He has worked in and managed small gold mines in Western Australia. Since 1970, Dale has been an independent geological consultant with three periods as a director of ASX-listed companies. More recently, he has been involved with the assessment of iron ore projects in Australia, South America, India, China and Africa.
Oliver Kreuzer - Non-executive Director
Dr. Oliver Kreuzer is a registered professional geoscientist and company director with a broad skill set in structural, generative and corporate geology honed within more than a 20-year career in applied research and mineral exploration across a wide range of gold, base, energy and battery metals projects worldwide. His generative work laid the foundations for several new company floats, project acquisitions and new discoveries. Kreuzer is currently a non-executive director of ASX-listed exploration companies 92 Energy Ltd and NickelX Ltd.
Ibrar Idrees – Non-executive Director
Ibrar Idrees has a Bachelor of Commerce (majoring in Accounting and Finance) from Deakin University and has over 10 years of professional and corporate experience gained in a diverse range of industries in Australia and South Asia. Idrees, a practicing accountant, has worked in a variety of business development and financial positions in small and large companies.
Sebastian Andre - Company Secretary
Sebastian Andre is a chartered secretary with over 14 years of experience in corporate advisory, governance, compliance, and risk services. Andre has previously acted as an adviser at the ASX and has a thorough understanding of the ASX listing rules. He holds qualifications in accounting, finance and corporate governance and is a member of the Governance Institute of Australia
Exceptional Clay Hosted Rare Earth Grades Intersected at Poços
Enova Mining Ltd (ASX: ENV) is pleased to announce high grade REE assay results from sampling at Poços1
KEY HIGHLIGHTS
- Enova confirms significant assay results for a non-invasive shallow subsurface auger sampling programme at Poços; highlights of these are results greater than 2,000 ppm TREO2 are as follows:
- A1-TR001-001 including 3m @2,744
- A1-TR003-001 including 3m @3,030
- A1-TR006-001 including 3m @3,508
- A1-TR008-001 including 2m @2,113
- A1-TR009-001 including 3m @3,964
- A1-TR010-001 including 3m @2,524
- A2-TR001-001 including 1m @2,786
- A2-TR002-001 including 2m @2,043
- A2-TR006-001 including 2m @2,099
- A3-TR002-001 including 3m @2,306
- A3-TR005-001 including 2m @2,145
- A4-TR001-001 including 2m @2,488
- A4-TR001-001 including 3m @4,950
- Peak rare earth element (REE) assays were 5,158 ppm TREO or 0.52% TREO, 5,042 ppm TREO or 0.50% TREO, 4,650 ppm TREO or 0.47% TREO, providing guidance for a high-grade exploration target at Poços,
- REE enriched tenements at Poços confirm the areas’ potential for a prospect scale high grade REE deposit,
- Shallow surface and subsurface sampling confirmed surface saprolite clay systems w
- across all Poços tenements, with potential deeper mineralisation upside.
- The project is located nearby to townships, well-developed highways, infrastructure, water access, hydroelectric power and well connected to a commercial port.
ANNOUNCEMENT
Enova Mining Ltd (ASX: ENV) (“Enova” or the “Company”) is pleased to announce assay results from non-invasive shallow surface and subsurface auger sampling at Poços tenements 832.174/2023, 832.175/2023, 832.177/2023, 832.179/2023 and 830.652/2020. The locations of the auger sampling and significant assay intercepts are provided in Figure 2. In accordance with ASX reporting of mineral results, details of the sampling, assay results and other technical details are contained in JORC Table 1 and Significant Results and Auger Sampling Data for Poços Project in Table 2 in Appendix A.
The Poços alkaline complex massif region (Poços) hosts world-class rare earth element (REE) mineral discoveries. Enova aims to replicate the success of peers in the region. Refer to Figure 1 (below) for a location plan of Enova’s tenements and surrounding tenements of IAC REE significance.
Figure 1: Regional location of Poços tenements
Enova is assessing results from the current exploration program and the potential for future air-core drilling program. Regarding tenements overlain by the Pedra Branca APA area and buffer zone, identified during Due Diligence, further clarification is being sought regarding requirements for more impactful exploration in the future, such as air-core/reverse circulation drilling and future development.
Mr. Eric Vesel Managing Director of Enova, commented:
“The assay results from the Poços sampling programme confirm the prospectivity of the tenements, which is not surprising for tenements within the alkaline complex. The largest tenement, located near the southern rim of the complex, was encouraging but with mixed results (Above and below 1000ppm TREO). Overall, the Poços results have returned exceptional near- surface grades which has significant unexplored deeper saprolite strata worthy of follow up exploration. This Phase 1 exploration work was part of our initial reconnaissance to investigate our portfolio of prospective REE tenements.
Our team is currently focused on the CODA maiden drill programme; we recognise the importance of assessing all our other projects. We have arranged a consulting exploration team to explore our Juquiá tenements, a potential carbonatite prospect. There is also REE potential within our Santo Antonio (do Jacinto) tenements based on a strong thorium anomaly3, as shared by SI6’s Pimenta Project.
Enova is now in the envious position of holding two major potential IAC REE project areas: POÇOS and CODA with further areas currently under investigation. It’s remarkable that in such a short period of time, Enova has acquired and brought from concept to exploration stage, two major projects with significant upside and worthy of development.”
Click here for the full ASX Release
This article includes content from Enova Mining Limited, 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.
Former GM Leader Joins Energy Fuels to Boost Rare Earths Operations
Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) announced the appointment of Debra Bennethum, formerly of General Motors (GM) (NYSE:GM), as director of critical minerals and strategic supply chain.
According to a Monday (June 17) release, Bennethum brings extensive expertise from her tenure at GM, where she worked to ensure secure supply of key EV materials, including rare earths and critical battery minerals.
Her role included finding and vetting suppliers, as well as leading negotiations for long-term supply deals. Bennethum also managed investment projects worth over US$1.5 billion, forging strategic partnerships for GM.
At Energy Fuels, she will leverage her experience to enhance the company's rare earths business. This includes strengthening relationships with original equipment manufacturers (OEMs) and negotiating supply agreements.
Her appointment underscores Energy Fuels' commitment to expanding its US-based rare earths operations, highlighted by recent commercial production of on-spec separated rare earths at the White Mesa mill in Utah.
“Ms. Bennethum brings a wealth of knowledge and relationships in EV and automotive supply chains to advance Energy Fuels' U.S.-leading, integrated rare earth business, which recently began commercial production of 'on spec' separated rare earths at our White Mesa Mill in Utah, USA,” said Energy Fuels President and CEO Mark Chalmers in a press release.
“Having worked at GM for over 12 years, including key roles in EV, hybrid and critical mineral supply chains, we believe Ms. Bennethum is the ideal person to lead Energy Fuels' rare earth marketing efforts and collaborations, including the sale of our products to metal-makers, magnet-makers, EV and automotive OEMs, renewable energy companies, rare earth recycling companies, U.S. defense suppliers, and other customers,” he added.
White Mesa achieved commercial production of on-spec separated rare earths on June 10, making it one of the largest commercial rare earths separation circuits outside of China. The mill is capable of producing separated neodymium-praseodymium (NdPr), essential for high-performance magnets in EVs and renewable energy technologies.
Energy Fuels anticipates ramping up production to meet growing demand while advancing its uranium operations. The company is a leading US uranium miner and produces vanadium when market conditions are appropriate.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Energy Fuels is a client of the Investing News Network. This article is not paid-for content.
47.1% Niobium and 9.01% Tantalum Identified in Columbite Rock Chip at North Dam
CuFe Ltd (ASX: CUF) (CuFe or the Company) is pleased to provide an update on the following exploration activities within E15/1495 at North Dam.
HIGHLIGHTS
- Columbite Rock chip sample ND11 sourced from pegmatite returned significant results for Niobium 47.1 % (Nb) and Tantalum 9.01% (Ta) within the North Dam Project.
- This follows up from previously announced (22 August 2023) rock chips collected from a stream bed which returned results 43.93% Nb and 14.53% Ta.
- Anomalous Nb in soil geochemistry is coincident with out cropping pegmatites within the central area of E15/1495, which will be drill tested in the upcoming RC drill program.
- Preliminary heritage survey report now received and supports performing the planned activities, final report is expected this month, with drilling continuing to be targeted to commence in July.
- Infill soil sampling has been completed in targeted zones and results will be incorporated into the final drill hole plans as results are received.
As per ASX announcement dated 28th May 2024 a soil geochemistry review, detailed pegmatite mapping and rock chip sampling was undertaken to identify the source pegmatites that have likely shed the columbite and tantalite rock chips along a 97m narrow stream bed which returned 43.93% Nb and 14.53% Ta from sample S254 (refer to ASX release dated 22nd August 2023). A recent rock chip sample ND11 of columbite was collected directly from an outcropping pegmatite located nearby the Niobium soil anomaly and 100m South East from S254.
The selective sample of columbite from weathered pegmatite is biased and does not represent the true concentration of the overall pegmatite but yielded a Niobium content of 47.1% and Tantalum 9.01% (see Figure 1 and Table 1).
Broader zones of anomalous Niobium (>15ppm and > 20ppm) from soil geochemistry have been interpreted (See Figure 2) and are coincident with outcropping pegmatites. These pegmatites to the West will both be mapped in detail for the presence of columbite and have drill holes planned to intersect them as part of the wider RC program, which is primarily targeting Li2O.
A preliminary report has been received for the recent heritage survey and supports performing the planned activities, with the final report expected this month. Following this, preparatory works can be executed prior to mobilisation of the drilling contractor, with drilling targeted to commence in July.
Infill soil sampling work to assist in definition of the priority drill holes has now been completed and results will be incorporated into the drill plans once received.
Figure 1: Photos columbite and source pegmatite
Table 1: Sample ND11 rock chip niobium and tantalum chemistry.
Figure 2: Location of anomalous Nb rock chip sample and soil anomaly at the North Dam Projects
Click here for the full ASX Release
This article includes content from CUFE LTD, 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.
Norwegian Explorer Reports Europe’s Largest Rare Earths Deposit
After three years of exploration, Rare Earths Norway announced the discovery of Europe's largest rare earths deposit at the Fen carbonatite complex in Telemark County, Norway.
The find is expected to reshape the supply landscape for these critical materials in the region.
Rare Earths Norway unveiled a maiden mineral resource estimate for Fen on June 6. It shows that the complex hosts 559 million metric tons (MT) of mineralized material at 1.57 percent total rare earth oxides.
This translates to approximately 8.8 million MT of total rare earth oxides, with an estimated 1.5 million MT of magnet-related rare earths, which are crucial for electric vehicles and wind turbines.
The discovery positions Norway as a vital player in Europe’s rare earths and critical raw materials supply chain.
Currently, Europe lacks active rare earths extraction, making this find potentially significant in reducing dependency on external sources, notably China, which currently dominates the global rare earths market.
The deposit is expected to contribute to the European Union's goal of providing for at least 10 percent of its annual rare earths demand by 2030, as outlined in the region's Critical Raw Materials Act.
“This is a very important moment for Rare Earths Norway, the resource estimate underscores the potential of the deposit to be a truly transformative asset that can underpin a secure rare earths value chain for Europe,” Alf Reistad, CEO of Rare Earths Norway, said in a company press release. “We are working with leading partners, such as Montanuniversität Leoben in Austria to develop this deposit with the world’s most sustainable mine and mineral processing technology minimizing the environmental footprint from mine to magnet."
Bernd Schäfer, CEO of EIT RawMaterials, a company that supported Rare Earths Norway's work, highlighted the broader implications for the region, commenting, “This project underscores the potential and the opportunity for Europe to invest in world class mining and processing projects that will help secure our industrial value chains and set new standards in environmental and social performance through technology, innovation and collaboration.”
Market watchers view the discovery as a potential game changer for the European rare earths market. Rare earths output from Norway could help stabilize supply chains, reduce prices and foster the growth of green technologies.
Rare Earths Norway plans to continue exploration at Fen, with a new drilling campaign set for 2024. It aims to further assess the economic viability of the project through additional studies, with results expected later this year.
The company also intends to establish a pilot factory in the municipality of Nome to test new technologies and optimize mineral processing. Buoyed by an investment of 20 million Norwegian kroner from Telemark Utviklingsfond, Rare Earths Norway said the pilot will serve as an educational platform for future staff training.
A 10 billion Norwegian kroner investment decision is anticipated by 2030.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
New Outcropping Boulders with the Potential to Host High Grade Hard Rock Rare Earth Mineralisation Discovered in Expanded Field Reconnaissance Program at Campo Grande Project
Equinox Resources Limited (ASX: EQN) (“Equinox Resources” or the “Company”) is pleased to provide an update on the ongoing exploration activities at the “Campo Grande” Rare Earths (‘Campo Grande Project’) covering ~1801km2 in the Rare Earth (REE) province of Bahia, Brazil. The new detailed pan concentrate sampling and mapping campaign is focused on identifying anomalies and pathfinder minerals essential for discovering Rare Earths, targets for drilling and for guiding future exploration activities.
- Following the recently completed drilling program at the Rio Negro hard rock rare earth prospect, Equinox has significantly expanded its surface field work at the wider Campo Grande Rare Earth Project.
- Multiple new outcropping boulders in a number of new areas have been discovered that are considered highly prospective to host high grade hard rock rare earth mineralization with a number of samples collected and sent to the laboratory for assaying.
- Rio Negro is located ~20 km along strike from Brazilian Rare Earth’s Pele Project and ~5 km from their Sulista Project.1
- Rio Negro constitutes only a small proportion of Equinox’s extensive landholding in the region (see Figure 2), including coverage of a large proportion of the critical Volta Da Rio Plutonic suite, and is therefore well-positioned for a potential high-grade hard rock rare earth discovery.
- Assay results from the Rio Negro drilling program, comprising 156 auger and 3 RC holes to date, are due imminently. The RC holes penetrated hard rock at a depth of ~40 meters.
- New areas have been identified (refer to Figure 3) containing high thorium anomalies over much of the tenure, which is a key pathfinder element for high-grade rare earth mineralisation.
During a recent 18-day on-site visit, Managing Director Zac Komur, along with the in country management and geological teams, conducted field work activities across key prospects within the ~1801km2 of prospective REE tenements currently held in and around Brazilian Rare Earth’s (ASX:BRE) prospects of Monte Alto, Pele and their Sulista Projects.1 Multiple surface outcroppings were present across the targeted areas that are considered highly prospective for high grade hard rock earths. These outcrops were inspected and hard rock grab samples were collected and now at the laboratory for comprehensive assaying.
As Equinox Resources advances its exploration efforts, the Company remains committed to a systematic approach to the geological techniques used to potentially discover ultra-high grade rare earths across the ~1,800km2 of the Campo Grande Project. Shareholders can expect further updates as data becomes available and exploration progresses.
Equinox Resources Managing Director and CEO, Zac Komur, commented:
“Great to be back on the ground in Brazil, overseeing the impressive work our exploration team has achieved at Campo Grande. Traveling across our extensive tenements, I was struck by the sheer scale of our project. Our initial Rio Negro prospect represents just 1% of our total holdings for Campo Grande.
We have significant work ahead to approach our exploration in a systematic geological manner, ensuring that our investments are targeted wisely. I have full confidence in our geology team and their relentless dedication.
During my visit, I encountered multiple massive outcrop trendlines across our tenements. These have been sampled, and we are eagerly awaiting the results to strategically plan our next steps.”
Figure 1: EQN Managing Director Zac Komur on one of the outcrops at the Monoel Vitorino Block Prospect
Equinox Resources emphasizes that visual observations should never be considered a proxy or substitute for rigorous laboratory analyses where concentrations or grades are the factor or principal economic interest. Visual assessments alone cannot determine concentrations, grades, impurities, or any properties critical to valuations. The photos that included in this announcement will be submitted for laboratory assay to determine full suite TREO grades.
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This article includes content from Equinox Resources Limited, 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.
DY6 Metals CEO Lloyd Kaiser Touts Africa's Rising Role in Global Rare Earths Supply Chains
The geopolitical landscape is shifting, and African nations, particularly resource-rich countries like Malawi, are becoming vital to the global supply chain of rare earth metals, according to Lloyd Kaiser, CEO of Australia-based DY6 Metals (ASX:DY6).
Countries such as the US are aiming to diversify their sources of critical minerals and reduce their reliance on China by enhancing relations with African countries.
“Africa offers a lot — it's rich in critical materials and could also help secure supply," Kaiser said, commenting on calls for the US government to build stronger trade relationships with African nations to align with America’s broader objective to ensure a stable and secure supply of essential raw materials.
"I think the government of Malawi would like to see more support from the US to assist with infrastructure, and that would also then help with all the mining companies coming into fruition," he continued, adding that mutual interest in such collaborations could result in vast economic and developmental benefits for African nations and improved supply security for the US.
DY6 owns six heavy rare earths and critical minerals projects in Southern Malawi, a region that has proven economic rare earth elements deposits. Historical drilling at the company's Tundulu project has confirmed its potential to host significant rare earth elements mineralisation.
Watch the full interview with Lloyd Kaiser, CEO of DY6 Metals, above.
Disclaimer: This interview is sponsored by DY6 Metals (ASX:DY6). This interview provides information which was sourced by the Investing News Network (INN) and approved by DY6 Metals in order to help investors learn more about the company. DY6 Metals is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with DY6 Metals and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
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