Maiden Sampling Identifies District-Scale Critical Minerals System at Blue Lagoon - Greenland

Highlights

• Maiden sampling program at the Blue Lagoon Project (Blue Lagoon) unlocks new Zirconium (Zr) and Rare Earth Elements (REE) potential district in Greenland.
• First sampling program at Blue Lagoon since 1979 has successfully returned elevated Zr + REE mineralisation. All 113 samples returned anomalous values, across a ~2.7km strike – indicating a highly prospective new critical metals district in Greenland.

Zirconium & Hafnium

• Exceptional high-grade Zirconium Oxide (ZrO₂) and Hafnium Oxide (HfO₂) surface samples include:
  • 4.42% ZrO₂ & 98ppm HfO₂ (Sediment Sample 26818D)
  • 4.09% ZrO₂ & 99ppm HfO₂ (Sediment Sample 26817D)
  • 3.82% ZrO₂ & 82ppm HfO₂ (Sediment Sample 26808D)
  • 3.58% ZrO₂ & 61ppm HfO₂ (Sediment Sample 26820D)
  • 3.13% ZrO₂ & 62ppm HfO₂ (Sediment Sample 26803D)
  • 2.85% ZrO₂ & 73ppm HfO₂ (Sediment Sample 26806D)
• >2% ZrO₂ and >40ppm HfO₂ encountered in auger holes and sediment samples across the entire ~2.7km strike, indicating a large-scale, broad and well mineralised target area.
• Hafnium is a critical semiconductor metal, which has become vital for supercharging the next-generation microchips and semiconductors, due to its high-K constant (dielectric constant) allowing Hafnium to store significantly more electrical charge than traditional SiO2 based semiconductors.
• HfO₂ has a K-constant approximately ~6x higher than SiO2, with one of the highest melting points of any compound, resulting in >1000x reduction in electron leakage through transistors versus SiO2 – underpinning the next generation of high-performing semiconductors¹.
• HfO₂ (High Purity) indicative sale price currently at AU $16,297/kg, reflecting its advanced chemical properties, increasing demand in high‑tech applications, and the scarcity of hafnium‑bearing minerals².
  • Blue Lagoon sampling has confirmed a ~2.7km strike with >2% ZrO₂ and >40ppm HfO₂ at surface, with potential for Hafnium grades to concentrate further at depth, subject to drilling confirmation.

Rare Earths

• The Blue Lagoon Project has returned high-grade REE results with consistent elevated Magnet Rare Earth Oxides (MREO)13 encountered at surface, with Total Rare Earth Oxide (TREO)13,16 grades highlighted by:
  • 8,079 ppm TREO with 29% MREO (Sediment Sample 26824D)
  • 6,491 ppm TREO with 27% MREO (Sediment Sample 26801D)
  • 5,668 ppm TREO with 27% MREO (Sediment Sample 26824C)
  • 5,654 ppm TREO with 27% MREO (Sediment Sample 26823D)
  • 5,519 ppm TREO with 25% MREO (Sediment Sample 26818D)
• Blue Lagoon has shown exceptional Heavy Rare Earth Oxides (HREO)14,15 enriched in Dysprosium (Dy2O3) and Terbium (Tb4O7) grades encountered at surface, unlocking a new completely untapped district in Greenland:
  • 886ppm HREO (Sediment Sample 26824D)
  • 752ppm HREO (Sediment Sample 26801D)
  • 742ppm HREO (Sediment Sample 26823D)
  • 682ppm HREO (Sediment Sample 26807D)
  • 654ppm HREO (Sediment Sample 26806D)
  • 628ppm HREO (Sediment Sample 26818D)
  • 615ppm HREO (Sediment Sample 26808D)
  • 597ppm HREO (Sediment Sample 26824C)
  • 596ppm HREO (Sediment Sample 26817D)
  • 589ppm HREO (Sediment Sample 26822D)
  • 559ppm HREO (Sediment Sample 26820D)
• TREO grades and HREO grades have the strong potential to improve as Dalaroo continues to assess full district potential of the Blue Lagoon Project and drill test immediate targets to determine the scale of the mineralised system.
• Importantly, sampling at Blue Lagoon has returned low Uranium levels, with a maximum reading of 25ppm U₃O₈ which has the potential to simplify processing complexities and encouragingly falls below the 100ppm uranium threshold levels for permitting in Greenland
• Placer & Liberated REE Potential: These exceptional REE grades were encountered at surface, consistently over the entire ~2.7km strike. With the natural weathering having enriched the REE into beach-like alluvial sediments – indicating potential for a proximal placer style REE deposit, where REE grains have been freely-liberated and has the potential to produce a REE concentrate through low CAPEX, simple physical separation methods.

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