- Eclipse Metals (EPM) has identified high-grade cryolite and fluorite mineralisation beneath the Ivittuut Pit in Greenland
- The company has collected data from 169 historical diamond holes and used 3D modelling to define the mineralisation
- This work saw grades peak at 55 per cent cryolite and 56.8 per cent fluorite
- Furthermore, up to 1.7 per cent copper, 18.2 per cent zinc and 7.7 per cent lead was also encountered
- Work continues and results will be announced as they become available
- Eclipse is up five per cent on the market and shares are trading at 2.1 cents
Eclipse Metals (EPM) has identified high-grade cryolite and fluorite mineralisation beneath the Ivittuut Pit in Greenland.
The Ivittuut lies within the Ivittuut Project which is known as the world’s only mine from which cryolite was historically produced.
Cryolite is a white or colourless mineral that is used in the production of aluminium and some insecticides.
Due to its rarity, it is believed to be the only mineral on Earth that has ever been mined to commercial extinction.
Mining at Ivittuut ran from 1855 to 1987 with 3.8 million tonnes of ore grading 58 per cent cryolite mined in that time .
Diamond drilling first began between 1912 and 1915 and the project was then re-drilled in 1919 to evaluate it.
Further drilling was undertaken between 1948 and 1958, and then again in 1985.
Eclipse has collected data from 169 historical diamond holes, totalling 8100 metres, and used 3D modelling to define the mineralisation.
Around 19,000 metres of historical diamond drill core is yet to be tested.
Significant results include 10.7 metres at 55 per cent cryolite and 22.1 per cent fluorite from 29.54 metres and 10 metres at 14 per cent cryolite and 56.8 per cent fluorite from 19 metres.
Further, up to 1.7 per cent copper, 18.2 per cent zinc and 7.7 per cent lead was also encountered.
“Building on the long mining history of the Ivittuut Cryolite Mine providing strategically important minerals, Eclipse Metals has now shown there is substantial potential for development of additional industrial mineral resource which are in demand by the expanding green economy,” Executive Chairman Carl Popal commented.
“The true thickness of the mineralised zones highlights the potential for future mining beneath the pit walls and floor,” he added.
Work continues and results will be announced as they become available.
Eclipse is up five per cent on the market and shares are trading at 2.1 cents at 12:25 pm AEDT.