Greenland Mines (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 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 effort 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 engagement of Tetra Tech and GeoSim marks a significant step for Greenland Mines in de-risking the Sarfartoq project and aligning with SEC reporting standards, which could attract a broader investor base. Neodymium and praseodymium are critical components in permanent magnets used in electric vehicles and wind turbines, making the project strategically important for Western supply chain diversification away from China. The updated resource estimate will form the basis for a preliminary economic assessment, which will evaluate the project's viability under various development scenarios.
For more details, the full press release is available at https://ibn.fm/eIurP. Greenland Mines is a Nasdaq-listed company with two operating divisions: mining, focused on the Skaergaard Project and Sarfartoq, and biotech, including Klotho’s KLTO‑202 primary indication for ALS. The company's strategy is centered on building a multi-asset platform with exposure to rare earth magnet materials, precious metals and selected midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
Forward-looking statements in this article involve risks and uncertainties, and undue reliance should not be placed on them. For more information, refer to the company's SEC filings. The latest news and updates relating to GRML are available in the company’s newsroom at https://ibn.fm/GRML.
