European Lithium (ASX:EUR) said assay results of historical diamond drill holes at the Tanbreez project in Greenland confirmed the presence of deep and heavy mineralized total rare earth oxides, according to a Tuesday Australian bourse filing.
The company started re-assaying historical pulps for confirmation and to check assay reconciliation. It added that there is no guarantee the entire 4.7 billion tonne host rock contains economic mineralization.
The drill holes ranged from 0.4% to 0.5% grade of total rare earth oxide, containing 26% heavy rare earth oxides.
The company applied to the Greenland authorities for a program of works for the 2025 resource drilling programs aimed at upgrading the inferred resource to the indicated resource category and extending the size of the Tanbreez Fjord and Hill Zone deposits.
The project is currently under the ownership of Nasdaq-listed Critical Metals, which currently holds a 42% interest with the right to earn a 93% interest, while European Lithium holds a 7.5% interest. European Lithium currently holds around 68% of the issued capital in Critical Metals.
European Lithum's shares jumped over 6% in recent trading on Tuesday.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。