Eclipse Metals has completed significant diamond drilling at its Greenland rare earth projects, upgraded its resource estimate, and secured US government advisory support while pursuing a NASDAQ listing to boost global investor access.
- Completed diamond drilling at Grønnedal and Ivigtût projects in Greenland
- Upgraded Grønnedal Inferred Resource to 89 million tonnes at 6,363 ppm TREO
- Secured US government relations firm BGR Group to support strategic engagement
- Pursuing NASDAQ dual listing to enhance North American investor visibility
- Raised $4 million during the quarter, ending with $5.4 million cash
Exploration Milestones in Greenland
Eclipse Metals Ltd (ASX, EPM) has reported a productive quarter marked by substantial progress at its Greenland rare earth projects. The company completed over 1,200 metres of diamond drilling across its Grønnedal Rare Earth deposit and the Ivigtût polymetallic system, both located within its 100%-owned Ivigtût Project in southwest Greenland. These drilling programs aim to expand and reclassify the rare earth mineral resource, with core samples now undergoing detailed laboratory analysis.
The Grønnedal deposit’s Inferred Mineral Resource Estimate (MRE) was upgraded earlier in 2025 to 89 million tonnes at 6,363 ppm Total Rare Earth Oxides (TREO), containing over 567,000 tonnes of TREO. This represents a dramatic increase from the maiden resource and positions Grønnedal as a potentially significant Western source of both light and heavy rare earth elements, critical for electric vehicles and renewable energy technologies.
Strategic US Engagement and Market Expansion
Recognising the geopolitical importance of rare earth supply chains, Eclipse has engaged BGR Group, a leading US government relations firm, to strengthen its connections with US strategic materials agencies. This partnership is designed to enhance Eclipse’s positioning for potential funding and collaborative opportunities within the US critical minerals framework.
Complementing this, Eclipse is actively pursuing a dual listing on the NASDAQ Stock Market. This move aims to broaden the company’s investor base, particularly in North America, and align its corporate governance and reporting with international standards. Such a listing could significantly increase Eclipse’s visibility and access to capital markets, supporting its ambitious Greenland development plans.
Metallurgical and Mineralogical Advances
Metallurgical test work conducted by SGS Canada has confirmed the presence of high-value rare earth minerals such as synchysite, bastnäsite, and monazite within the Grønnedal carbonatite. These minerals show promising liberation characteristics, with up to 54% recovery potential through conventional flotation and magnetic separation methods. The relatively coarse grain size and simpler mineralogy suggest potential cost advantages over other global rare earth projects.
Further metallurgical testing is underway to refine processing pathways and improve recovery rates, supporting the company’s pre-feasibility studies. The mineralisation remains open in all directions, indicating substantial upside for resource expansion beyond the current 6% of the mapped carbonatite body that has been drilled.
Northern Territory Uranium Portfolio Progress
Alongside its Greenland focus, Eclipse continues to advance its uranium exploration portfolio in Australia’s Northern Territory. The company is collaborating with Boss Energy Limited under an earn-in agreement that could see Boss acquire up to an 80% interest in Eclipse’s uranium projects. This partnership provides a strong technical and financial platform to progress exploration while allowing Eclipse to maintain strategic focus on its critical minerals assets in Greenland.
Financial Position and Outlook
During the quarter, Eclipse raised $4 million through a capital placement, ending with $5.4 million in cash and equivalents. Exploration and evaluation expenditure was approximately $572,000, reflecting ongoing investment in drilling and resource development. The company’s cash position and strategic partnerships position it well to advance its Greenland projects and pursue its NASDAQ listing ambitions.
Bottom Line?
Eclipse Metals is poised at a strategic inflection point, with Greenland drilling results and US engagement setting the stage for its next growth phase.
Questions in the middle?
- When will assay results from the recent Greenland drilling be released, and how might they impact resource classification?
- What is the timeline and likelihood for Eclipse Metals achieving its NASDAQ dual listing?
- How will US government engagement influence Eclipse’s access to funding and strategic partnerships?