Eclipse Metals Accelerates Grønnedal Drilling Campaign to Expand Ivigtût Project Resource

Eclipse Metals (ASX: EPM) will accelerate a diamond drilling campaign at the Grønnedal rare earth deposit within its Ivigtût project in southwest Greenland, where the company is targeting an expansion and reclassification of the project’s inferred resource of 89 million tonnes at 6,363 parts per million TREO (total rare earth oxides) for 567,600 tonnes TREO using a 2,000ppm cut-off.

Initial drilling will focus on extending mineralised zones identified through 3D modelling and mapping, particularly in areas rich in neodymium and praseodymium—critical elements for permanent magnets used in EVs and defence technologies.

Eclipse will use the data to underpin its mine planning and process optimisation studies for the Ivigtût development.

Clear Path to Efficient Recovery

Recent mineralogical studies on Grønnedal mineralisation identified a strong compatibility with conventional flotation and magnetic separation.

This positions it as one of the few REE projects in the western world with a clear path to efficient recovery.

“With the world’s major economies competing to secure non-Chinese sources of rare earths, our work in Greenland has never been more relevant,” executive chair Carl Popal said, calling the drilling campaign “an important operational and strategic milestone for Eclipse”.

“Backed by a successful capital raise and progressing NASDAQ readiness, we are advancing a globally-significant carbonatite deposit with favourable mineralogy and scale in a stable western jurisdiction.”

Capital Raise and NASDAQ Listing

Eclipse announced a $4 million share placement to new and existing institutional, professional and sophisticated investors this week to support the drilling campaign and laboratory assays.

The company will issue 133.33 million fully-paid shares priced at $0.03 each plus one attaching option for every three shares subscribed for, exercisable at $0.05 with a two-year expiry.

This comes as Eclipse prepares for its proposed NASDAQ listing, which it anticipates will enhance its global visibility and accessibility to North American investors.