Eclipse Metals verifies extensive high-grade cryolite-fluorite mineralisation below Ivittuut pit in Greenland

Eclipse Metals Ltd (ASX:EPM) has verified extensive high-grade zones of cryolite-fluorite mineralisation beneath the pit at its Ivittuut Project in Greenland during ongoing evaluation of historical exploration and analytical data by independent mining consultants Outokumpu Oy. These zones have been delineated using 3D modelling based on analysis of historical exploration and diamond drilling data. Results demonstrate additional mineralisation within the historical Ivittuut mine environment with data compilation, 3D geological and mineralisation modelling of data indicating economic potential within and surrounding the pit. The Ivittuut Project, sometimes called Ivigtut, is known as the world’s largest and only mine from which cryolite was historically produced for use in the extraction of aluminium from bauxite (alumina) ore. Potential to develop industrial resources Executive chairman Carl Popal said: “Building on the long mining history of the Ivittuut Cryolite Mine, Eclipse Metals has now shown there is substantial potential for the development of additional industrial mineral resources which are in demand by the expanding green economy, particularly in the European market. “The true thickness of the mineralised zones highlights the potential for future mining beneath the pit walls and floor. “Depth extensions of mineralisation have exceeded our expectations with potential upside for further mineralisation within the zinc and quartz zones.” Shares have been as much as 10% higher in early trade to 2.2 cents. In total the company recorded data from 169 diamond drill holes for more than 8,100 metres of drilling. Notable intersections include: 10.4 metres at 15% cryolite and 45.9% fluorite from 11.20 metres; 10.7 metres at 55% and 22.1% from 29.54 metres; 16.2 metres at 24.5% and 39% from 22 metres; and 18 metres at 17.4% and 42.4% from 18 metres. Additional assaying needed Popal continued: “We are confident that with more assaying of the drill core, the zinc mineral volume and grades could be increased as there is a close association between the iron and zinc values. “During the course of exploration by the previous owners, base metal mineralisation was never a target commodity hence little work was completed.” Mining commenced in 1855 continued until 1987 through various stages of production. A total of 3.8 million tonnes of ore was mined with an average grade of 58% cryolite. Diamond drilling was first carried out between 1912 and 1915, some 53 years after the commencement of mining. Forward strategy Subject to COVID restrictions, Eclipse Metals will be looking into starting activities to calculate a JORC-compliant resource estimate at the Ivittuut project at the earliest opportunity. Initial steps are to re-log, re-split where possible, sample and assay existing mineralised core with a view to preparing a resource estimation during this year. The company will implement QA/QC methods along with geotechnical studies as well as seek more recent data while working on the extensive geological and GIS database over the project area and surrounds. Drill core assays for the quartz zones beneath the mineralised cryolite-fluorite geological domains are currently being assembled. Further grade and density verification will enable calculation of a resource estimate based on geological modelling completed to date. Updates will be announced to the market when all interpretations have been completed.