Greenland Minerals and Energy Limited (ASX: GGG) – $0.065 (-2%)
12 Feb 2015
Greenland Minerals and Energy Limited (ASX: GGG) has updated its Mineral Resource estimate for the Kvanefjeld (rare earths, uranium, zinc) Project in south Greenland.
The project area has three established mineral resources at Kvanefjeld, SØrensen and Zone 3 (Figure 1). The new estimate was undertaken following an increase in the density of geochemical data from the recent assay program on historically drilled core at the Kvanefjeld deposit. The mineral resource estimates for the SØrensen and Zone 3 remain unchanged.
Figure 1. Location of Kvanefjeld, SØrensen and Zone 3 in south Greenland
The Kvanefjeld Mineral Resource estimate now stands at 673 million tonnes (8.7% increase) containing 368 million pounds U3O8 (5% increase), 7.4 million tonnes Total Rare Earth Oxide (12% increase).
The Kvanefjeld Deposit is the focus of the feasibility study that is nearing completion and will be the starting point of mining operations.
The Global Mineral Resource totals 1.01 billion tonnes containing 593 million pounds U3O8, 11.13 million tonnes Total Rare Earth Oxide.
For further information, visit www.ggg.gl
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