Greenland Mines Ltd (NASDAQ: GRML) announced the engagement of Tetra Tech Canada Inc. and GeoSim Services Inc. to prepare an updated SEC S-K 1300-compliant mineral resource estimate for its Sarfartoq neodymium-praseodymium (Nd-Pr) rare earth project in southwest Greenland. The updated resource estimate, expected to be substantially completed this summer, will incorporate historical NI 43-101 resource work along with drilling and technical studies conducted by Neo Performance Materials between 2023 and 2025. This estimate is intended to support an updated preliminary economic assessment and future development studies, moving the project closer to potential production.
The appointment of GeoSim, led by Ronald G. Simpson, P.Geo., as the qualified person for the resource estimate provides continuity from earlier Sarfartoq resource and economic studies completed in 2011 and 2012. Tetra Tech will provide engineering, mine planning, and metallurgical support, including optimization studies evaluating open-pit, underground, and hybrid development scenarios. Greenland Mines has also reappointed WSP Danmark A/S to continue environmental baseline work at the project, signaling a comprehensive approach to advancing Sarfartoq.
Greenland Mines believes the Sarfartoq project is distinguished by its strong neodymium-praseodymium component and strategic relevance to Western rare earth supply chains. As global demand for rare earth magnet materials grows, particularly for electric vehicles and renewable energy technologies, the project could reduce dependence on Chinese supply. The company is pursuing a multi-asset platform with exposure to rare earth magnet materials, precious metals, and selected midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
The updated resource estimate is a critical step for Greenland Mines as it seeks to de-risk the Sarfartoq project and attract potential partners or financing. The company's Nasdaq listing provides visibility and access to capital markets, and the engagement of reputable firms like Tetra Tech and GeoSim lends credibility to the technical work. Investors can track the latest news and updates relating to GRML in the company’s newsroom at https://ibn.fm/GRML.
The full press release is available at https://ibn.fm/eIurP. Greenland Mines Ltd is a Nasdaq-listed company with two operating divisions: Mining, focused on the Skaergaard Project and the Sarfartoq rare earths project; and Biotech, including Klotho’s KLTO‑202 primary indication for ALS.
