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 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 completed by Neo Performance Materials between 2023 and 2025. This update is intended to support an updated preliminary economic assessment and future development studies.
GeoSim, led by Ronald G. Simpson, P.Geo., has been appointed as the qualified person for the resource estimate, providing 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 also reappointed WSP Danmark A/S to continue environmental baseline work at the project as the company advances Sarfartoq, which it believes is distinguished by a strong neodymium-praseodymium component and strategic relevance to Western rare earth supply chains.
The engagement of these consultants marks a significant step for Greenland Mines as it progresses its strategy to build a multi-asset platform with exposure to rare earth magnet materials, precious metals, and selected midstream processing opportunities. The company is focused on advancing its broader North Atlantic Critical Metals Corridor vision, linking Greenland resources with allied downstream jurisdictions and industrial infrastructure. The updated resource estimate will be crucial for demonstrating the economic viability of the Sarfartoq project and attracting potential partners or investors.
The announcement comes as Western nations seek to diversify rare earth supply chains away from dominant Chinese sources. Neodymium and praseodymium are essential for permanent magnets used in electric vehicles, wind turbines, and other clean energy technologies. The Sarfartoq project, with its strong Nd-Pr component, could play a key role in securing a domestic supply of these critical materials for North America and Europe.
For more information, the full press release is available at https://ibn.fm/eIurP. Additional updates on Greenland Mines can be found in the company's newsroom at https://ibn.fm/GRML.
