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Greenland Mines Secures Rare Earths Project Approval
22 Aug
Summary
- Government of Greenland approved license transfer for Sarfartoq project.
- Project contains 25% to 40% neodymium-praseodymium concentration.
- Greenland Mines Ltd. is acquiring the Sarfartoq rare earths project.
The Government of Greenland has officially approved the transfer of a mineral exploration license for the Sarfartoq Carbonatite Complex. This approval, specifically for license MEL 2020-32, facilitates Greenland Mines Ltd.'s acquisition of the Sarfartoq Neodymium-Praseodymium rare earths project. This move represents a significant milestone for the company.
The Sarfartoq deposit holds substantial rare earth potential, with its core ST1 zone exhibiting a neodymium-praseodymium concentration between 25% and 40% of total rare earth oxides. The project benefits from a history of extensive exploration, including over 15 years of work and more than 23,000 meters of drilling, supporting a preliminary economic assessment.
Greenland Mines Ltd. operates both a mining division, with interests in southeast and southwest Greenland, and a biotech division. The company's mining focus includes the Skaergaard Project and the Sarfartoq project. The Sarfartoq site is equipped with an existing camp for 20 personnel and two drill rigs, underscoring its readiness for further development.
