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Andrew Todd
Eclipse Metals surged as much as 80 per cent in early trading this morning to 2.7 cents on massive turnover of 140 million shares after it more than doubled the size of its Grønnedal rare earths project in southwest Greenland.
The company tabled a hefty resource upgrade of 208 million tonnes of total rare earth oxides (TREO) at a grade of 0.72 per cent.
The update represents a mammoth 234 per cent lift in tonnage and a solid 12 per cent bump in grade compared to the historic resource reported last year.
The numbers hint at the project’s strong growth potential, given that it only took two drilling programs, one diamond and one percussion, to substantially expand the deposit and improve geological confidence.
The new resource contains a whopping 1.5 million tonnes of TREO. Crucially, that includes 456,000 tonnes of the highly sought-after magnet metals neodymium and praseodymium, making up a healthy 31 per cent of the total contained rare earths.
‘Importantly, this growth is not only in scale. The avg grade has also increased by 12% reinforcing the quality, consistency and continuity’
Eclipse Metals executive chairman Carl Popal
Eclipse says it has also established a maiden indicated resource of six million tonnes grading 0.71 per cent TREO.
Establishing an indicated resource is an important step for any explorer. It moves a project up the value chain by converting a portion of the deposit into a higher-confidence category and towards mining studies, which are now underway.
Eclipse Metals executive chairman Carl Popal said: “Importantly, this growth is not only in scale. The average grade has also increased by 12% REO, reinforcing the quality, consistency, and continuity of the system.”
The Grønnedal project sits within Eclipse’s broader Ivigtut project and is hosted by a very large carbonatite system, the very same style of geology that hosts a majority of the world’s most prolific rare earth mines.
The company says its mineralisation forms part of a massive intrusive complex measuring roughly 5km by 1.2km, with modelling suggesting the near-vertical, pipe-like orebody extending to depths of more than 900m.
Eclipse says the mineralisation remains open along strike and at depth, pointing to some serious blue-sky potential for further resource expansion.
The company recently highlighted the presence of numerous other critical minerals within its assemblage, such as the extremely lucrative metal gallium, used in semiconductors and scandium, found in high-strength aerospace alloys. These elements could provide tantalising by-product credits for Eclipse down the track.
The rare earths project’s location in the highly topical Greenland is also a distinct advantage, positioning it within a stable, mining-friendly jurisdiction. The region is strategically aligned with European and North American efforts to diversify critical mineral supply chains away from Chinese dominance, with a flux of incoming US investment heavily focused on the island nation.
With feasibility work now ticking along and more drilling planned for the upcoming 2026 Greenland field season, Eclipse is looking to build on its success. The next phase of drilling will focus on converting more inferred tonnes into the higher-confidence indicated category.
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