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Greenland Energy and Minerals _resource upgrade - bigger than Phar Lap's heart
What a wonderful time for GGG's resource upgrade to come out... hot on the heels of the Wall St Journals article: "Rare Earths stay HOT".
I've been following (and investing in) GGG for a couple of years.... as I like having the world's largest REE resource in my portfolio.... And suddenly that resource has gotten a whole lot bigger. (Just have to love the 3 billion tons of Zinc.) I guess there will be a lot of green with jealousy Yanks and Canadians Greenland Minerals Releases an Upgraded Resource Estimate for the Kvanefjeld Multi-Element Project (REEs, U, Zn) Summary: Greenland Minerals and Energy Limited ("GMEL" or "the Company", ASX:GGG) is pleased to announce a new resource estimate for the Kvanefjeld multi-element project that further confirms Kvanefjeld's status as one of the world's most significant resources of rare earth elements and uranium. Key Highlights of New Kvanefjeld Resource Estimate
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Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice. |
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Highlights
? Release of regional drill results confirms the discovery of three new multi-element zones (REEs, U, Zn) within the northern Ilimaussaq project area; o Intercepts include 185 m @ 1.2% TREO*, 440 ppm U3O8 o New zones provide opportunity to significantly expand resources ? New resource estimate confirms Kvanefjeld's status as the world's most significant undeveloped REE deposit** o Significant increase in Indicated and total resources o Contained metal of 6.6 Mt TREO, 350 Mlbs U3O8 and 3 Blbs Zn (TREO includes 0.24 Mt HREO, 0.53 Mt Y2O3) o Near surface, higher-grade zones defined, including 122 Mt @ 1.4% TREO, 404ppm U3O8 (0.05% heavy REO, 0.12% Y2O3)
**world's largest rare earth resource as defined by internationally-recognised reporting codes To read the full announcement please go to >> ASX announcements: March 2011 Quarterly Report
Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice. |
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