Greenland Mines Ltd (NASDAQ: GRML) has announced the engagement of Tetra Tech Canada Inc. and GeoSim Services Inc. to prepare an updated SEC S-K 1300-compliant mineral resource estimate for its Sarfartoq neodymium-praseodymium (Nd-Pr) rare earth project in southwest Greenland. The updated estimate, expected to be substantially completed this summer, will incorporate historical NI 43-101 resource work along with drilling and technical studies completed by Neo Performance Materials between 2023 and 2025. This initiative is intended to support an updated preliminary economic assessment and future development studies, marking a significant step forward for the project.
GeoSim, led by Ronald G. Simpson, P.Geo., has been appointed as the qualified person for the resource estimate, providing continuity from earlier Sarfartoq resource and economic studies completed in 2011 and 2012. Tetra Tech will provide engineering, mine planning and metallurgical support, including optimization studies evaluating open-pit, underground and hybrid development scenarios. The company also reappointed WSP Danmark A/S to continue environmental baseline work at the project as Greenland Mines advances Sarfartoq, which it believes is distinguished by a strong neodymium-praseodymium component and strategic relevance to Western rare earth supply chains.
The Sarfartoq project is a key asset in Greenland Mines' strategy to build a multi-asset platform with exposure to rare earth magnet materials, precious metals and selected midstream processing opportunities. The company's broader North Atlantic Critical Metals Corridor vision aims to link Greenland resources with allied downstream jurisdictions and industrial infrastructure. The updated resource estimate is crucial for de-risking the project and attracting potential partners or investors, especially given the growing demand for rare earth elements used in permanent magnets for electric vehicles and wind turbines.
Greenland Mines operates two divisions: Mining, focused on the exploration and development of the Skaergaard Project in southeast Greenland and, subject to closing of the previously announced transaction, the Sarfartoq Nd-Pr rare earths project; and Biotech, including Klotho’s KLTO-202 primary indication for ALS. The company is Nasdaq-listed and continues to advance its projects while seeking to capitalize on the critical minerals supply chain shift toward Western sources.
For more information, the full press release is available at https://ibn.fm/eIurP. Investors can find the latest news and updates relating to GRML in the company’s newsroom at https://ibn.fm/GRML.
