European Lithium (ASX:EUR) said Nasdaq-listed Critical Metals signed a $2 million diamond drilling contract with 60 Degree North Greenland over the Tanbreez project in Greenland, according to a Tuesday filing with the Australian bourse.

The drilling program aims to increase the current mineral resource estimate for the Fjord deposit, the filing said.

European Lithium holds about 63% of Critical Metals, according to the filing.

Shares were down 9% in afternoon trade on Tuesday.