Greenland Minerals 'Zone 3' Rare Earth - Uranium Deposit Shapes Up With Solid Drill Intercepts
Summary below, for full ASX announcement go to: http://www.ggg.gl/docs/ASX-announcements/Zone-3-Drill-Results.pdf
Impressive results of the 2011 drilling at Zone 3 on the northern Ilimaussaq complex highlight the presence of a third significant multi-element deposit after Kvanefjeld and Zone 2. The drill results will form the basis of an initial mineral resource estimate for Zone 3, anticipated in the coming weeks. This will mark another significant step in the projects overall resource base, which already includes a metal inventory of 512 Mlbs U3O8, 9.2 Mt total rare earth oxide (TREO), and 4.36 Blbs zinc.
Significant 2011 Zone 3 Intercepts Include:
- N023 101m @ 435ppm U3O8, 1.56% TREO, 0.30% Zn
- N009 68m @ 410ppm U3O8, 1.35% TREO, 0.31% Zn
- N011 67m @ 401ppm U3O8, 1.49% TREO, 0.38% Zn
- N016 81m @ 308ppm U3O8, 1.20% TREO, 0.35% Zn
- N007 71m @ 350ppm U3O8, 1.10% TREO, 0.26% Zn
- N010 44m @ 447ppm U3O8, 1.46% TREO, 0.31% Zn
- N021 46m @ 420ppm U3O8, 1.44% TREO, 0.27% Zn
- Zone 3 intercepts firm up a third significant multi-element deposit within the project area
- The grade and continuity of multi-element intercepts support the aim of adding more resource tonnes at the upper end of the grade range
- Mineralisation at Zone 3 outcrops extensively, with higher grade portions near surface
- Zone 3 mineralisation hosted by lujavrite, and is consistent with that at Kvanefjeld and Zone 2
*TREO = rare earth oxides in the lanthanide series, plus yttrium oxide
For full ASX announcement go to: http://www.ggg.gl/docs/ASX-announcements/Zone-3-Drill-Results.pdf
ABOUT GREENLAND MINERALS AND ENERGY LTD.
Greenland Minerals and Energy Ltd (ASX � GGG) is an exploration and development company focused on developing high-quality mineral projects in Greenland. The Company�s flagship project is the Kvanefjeld multi-element deposit (Rare Earth Elements, Uranium, Zinc), that is rapidly emerging as a premier specialty metals project. An interim report on pre-feasibility studies has demonstrated the potential for a large-scale multi-element mining operation. For further information on Greenland Minerals and Energy visit http://www.ggg.gl or contact:
Roderick Mcillree |
Christian Olesen (DK) |
Managing Director |
Rostra Kommunikation |
+61 8 9382 2322 |
+45 (0)3336 0429 |
Greenland Minerals and Energy Ltd will continue to advance the Kvanefjeld project in a manner that is in accord with both Greenlandic Government and local community expectations, and looks forward to being part of continued community discussions on the social and economic benefits associated with the development of the Kvanefjeld Project.
The information in this report that relates to exploration targets, exploration results, geological interpretations, appropriateness of cut-off grades, and reasonable expectation of potential viability of quoted rare earth element, uranium, and zinc resources is based on information compiled by Mr Jeremy Whybrow. Mr Whybrow is a director of the Company and a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Whybrow has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2004 edition of the �Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves�. Mr Whybrow consents to the reporting of this information in the form and context in which it appears.
The geological model and geostatistical estimation for the Kvanefjeld and Zone 2 deposits were prepared by Robin Simpson of SRK Consulting. Mr Simpson is a Member of the Australian Institute of Geoscientists (AIG), and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2004 edition of the �Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves�. Mr Simpson consents to the reporting of information relating to the geological model and geostatistical estimation in the form and context in which it appears.