Trenching Results Confirm Neodymium-Rich Ree Mineralisation At Grønnedal, Greenland

Eclipse Metals Ltd (Eclipse or the Company) (ASX: EPM | FSE: 9EU) is pleased to announce the assay results from its 2022 trenching program for the Grønnedal REE prospect within the 100% owned Ivigtût multi-commodity project in SW Greenland.

• Maiden trenching program returns rare earth element (REE) mineralisation in all 52 trenches completed at Grønnedal
• Trench sample assays confirm high neodymium oxide (Nd2O5) ratios of up to 56% of total rare earth oxides (TREO) with an average of 31%
• Pr+Nd assay results account for 60% of calculated TREO, indicating that the Grønnedal mineralisation is enriched in the more valuable REE of Pr and Nd
• Best assay results from Grønnedal trenching program include:
  • L1-2: 1.0m @ 16,444 ppm TREO from 1.0-2.0m (Nd2O5 ratio = 26%);
  • L1-4: 0.5m @ 15,923 ppm TREO from 0.0-0.5m (Nd2O5 ratio = 27%);
  • L2-11: 0.5m @ 10,571 ppm TREO from 0.0-0.5m (Nd2O5 ratio = 29%);
  • L2-3: 2.0m @ 12,911 ppm TREO from 1.0-2.0m (Nd2O5 ratio = 27%);
  • L3-8: 1.0m @ 9,341ppm TREO from 0.0-1.0m (Nd2O5 ratio = 56%);
  • L3-5: 1.0m @ 13,452 ppm TREO from 1.0-2.0m (Nd2O5 ratio = 36%);
  • L5-11: 1.5m @ 11,630ppm TREO from 0.0-1.5m (Nd2O5 ratio = 30%);
  • L5-12: 0.5m @ 6,317ppm TREO from 0.0-0.5m (Nd2O5 ratio = 45%).
• REE mineralisation at Grønnedal is widespread and deep-seated.
• Diamond drilling at Grønnedal expected to commence Q4 2023

“The initial results from shallow trenches at Grønnedal are highly significant for Eclipse, as they indicate multiple near-surface targets that remain open at depth and along strike. Our previous geophysical assessment confirmed the deep-seated nature of the host to this REE mineralisation, pointing towards a substantial target.

Following the approval of the 2023 Grønnedal diamond drilling program, we are poised to commence the REE assessment at depth. This aligns with our strategic goal of becoming a prominent supplier of metals and minerals for the green energy industry.

The promising REE prospectivity at both Grønnedal and Ivigtût reinforces our commitment to actively exploring these sites, including the nearby historic Ivigtût pit throughout 2023.”

Results within this release relate to 52 excavated pits (also referred to as trenches) up to 2m deep (refer to Table A) which were completed in October 2022, with samples shipped from Greenland to Australia for laboratory assessment.

Laboratory results for the over-limit values (+1,000ppm) for 28 out of 52 (C. 54%) trench samples have now been received following further testing using appropriate methods. The complete REO trenching results are listed in Table C.

Figure 1. Grønnedal trench sample results in the lower section with REO mineralisation in all trenches. Note that, to date, only a small fraction of this prospect has been explored and that the system is open in all directions.

Analytical values for samples from the lower section of the Grønnedal carbonatite prospect indicate a Pr+Nd ratio increase. In the lower section Nd values in the carbonate impregnated rocks is higher than the top section Nd values in carbonatite breccia. The Nd values in the lower section vary from a low of 25% Nd to a high of 56% Nd whereas at the top section the ratio ranges from a low of 19% Nd to a high of 22% Nd.

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