Eclipse Metals Targets Greenland Rare Earth Elements Project Expansion, Shares Decline 14%

MT Newswires Live

01-20

Eclipse Metals (ASX:EPM) said it is taking steps to expand its Grønnedal prospect, located within the Ivigtût Project in Greenland, according to a filing with the Australian bourse on Monday.

It said that samples from six historical Grønnedal drill holes analyzed via X-ray fluorescence confirmed the qualitative presence of rare earth elements mineralization.

Selected samples are being analyzed to align chemical results with specific mineralogical features, the filing said.

Laboratory analyses are underway in Sweden, with results expected in the first quarter.

The firm's shares declined 14% in recent trading on Monday.

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