Greenland Mines Ltd (NASDAQ: GRML) 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.
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. Greenland Mines also reappointed WSP Danmark A/S to continue environmental baseline work at the project as the company advances Sarfartoq, which it believes is distinguished by a strong neodymium-praseodymium component and strategic relevance to Western rare earth supply chains.
The updated resource estimate is a critical step for Greenland Mines as it seeks to advance the Sarfartoq project, which is positioned to play a key role in the Western supply chain for rare earth magnet materials. Neodymium and praseodymium are essential for manufacturing permanent magnets used in electric vehicles, wind turbines, and other high-tech applications. The company’s broader strategy includes building a multi-asset platform with exposure to rare earth magnet materials, precious metals, and selected midstream processing opportunities, while advancing its North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
Greenland Mines Ltd is a Nasdaq-listed company with two operating divisions: Mining, focused on the Skaergaard Project in southeast Greenland and the Sarfartoq project; and Biotech, including Klotho’s KLTO-202 primary indication for ALS. The company’s strategy is centered on creating a multi-asset platform with exposure to rare earth magnet materials, precious metals, and midstream processing opportunities. For more information, visit the company’s newsroom at https://ibn.fm/GRML. The full press release is available at https://ibn.fm/eIurP.
