Independent Investment Research Commences Coverage on Greenland Minerals
Greenland Minerals and Energy Ltd (GGG), is a mineral exploration and development company, focused solely on Greenland, one of the world's last natural resource frontiers. Recently the company announced several key high value events that will see it emerge as a global leader in the production of Rare Earth and Uranium, with the market yet to fully understand the implications that come from these developments. The company's flagship project is the 100% owned, Kvanefjeld, a true tier 1 super-giant deposit
that is shaping up as one of the largest uranium resources in the world, that is also a rare earth resource of immense strategic importance. With a significant uranium production capacity, the project importantly has the capacity to cost-effectively produce significant quantities of rare earth concentrates, as well as producing a high-grade zinc concentrate. The project is well-located near existing infrastructure in south Greenland and is only a few kilometers from tidewater, with the fjord system providing an ideal natural harbor, accessible year-round.
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ABOUT GREENLAND MINERALS AND ENERGY LTD.
Greenland Minerals and Energy Ltd (ASX - GGG) is an exploration and development company focused on developing high-quality mineral projects in Greenland. The Company's flagship project is the Kvanefjeld multi-element deposit (Rare Earth Elements, Uranium, Zinc), that is rapidly emerging as a premier specialty metals project. An interim report on pre-feasibility studies has demonstrated the potential for a large-scale multi-element mining operation. For further information on Greenland Minerals and Energy visit http://www.ggg.gl or contact:
Roderick McIllree Christian Olesen (DK)
Managing Director Rostra Kommunikation
+61 8 9382 2322 +45 (0)3336 0429
Greenland Minerals and Energy Ltd is aware of and respects the Greenlandic government's stance on uranium exploration and development in Greenland which is currently a zero tolerance approach. However, a new amendment has been introduced to the standard terms for exploration licenses in Greenland that creates a framework for the evaluation of projects that include uranium amongst other economic elements. Within this framework the Company is permitted to fully evaluate the Kvanefjeld project, inclusive of radioactive elements.
The Kvanefjeld Project is recognised as the world's largest undeveloped JORC-compliant resource of rare earth oxides (REO), in a multi-element deposit that is also enriched in uranium and zinc.
Greenland Minerals will continue to advance this world class project in a manner that is in accord with both Greenlandic Government and local community expectations, and looks forward to being part of continued community discussions on the social and economic benefits associated with the development of the Kvanefjeld Project.
The information in this report that relates to exploration results, geological interpretations, appropriateness of cut-off grades, and reasonable expectation of potential viability of quoted rare earth element, uranium, and zinc resources is based on information compiled by Jeremy Whybrow. Mr Whybrow is a director of the Company and a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Whybrow has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Whybrow consents to the reporting of this information in the form and context in which it appears.
The geological model and geostatistical estimation for the Kvanefjeld deposit were prepared by Robin Simpson of SRK Consulting. Mr Simpson is a Member of the Australian Institute of Geoscientists (AIG), and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2004 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Simpson consents to the reporting of information relating to the geological model and geostatistical estimation in the form and context in which it appears.