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Greenland Minerals and Energy Ltd.
Summary
| Project: | Kvanefjeld | |
|---|---|---|
| Deposit: | Kvanefjeld | |
| Location: | Greenland | |
| Commodities: | Rare Earth-Uranium-Zinc | |
| Date: | 12/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Optimisation Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-12-2017: Greenland Minerals and Energy Ltd. announces a Optimisation Study report for its Kvanefjeld deposit at the Kvanefjeld project. Optimisation study results incl. 64% increase from concentrate grade of 14% REO to >23% REO. Greenland Minerals and | |
| Resources: | (Resource, total): 1010Mt @ 11Kppm TREO for 11.14Mt TREO contained at project | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | Greenland Minerals and Energy Ltd (‘GMEL’ or ‘the Company’) is pleased to update on the optimisation program that is progressing with leading rare earth company and major shareholder Shenghe Resources Holding Co Ltd (Shenghe). Shenghe have world class and proven technical expertise in all aspects of the rare earth value chain from mine to the production of high-purity oxides and metals. The Kvanefjeld Project, 100% owned by GMEL, is underpinned by a JORC-code compliant resource of >1 billion tonnes, and an ore reserve estimate of 108 million tonnes to sustain an initial 37 year mine life. It is projected to be one of the largest producers globally of key magnet metals including neodymium, praseodymium, dysprosium and terbium, along with by-production of uranium and zinc. In early 2017 a technical committee was established with representatives from both GMEL and Shenghe to oversee a test work program that aims to improve the metallurgical performance, simplify the processing route and related infrastructure, and improve the cost structure of the Kvanefjeld Project. Flotation beneficiation test work is being directed by Shenghe, and draws on the expertise of a number of Chinese technical institutes. Significant improvements to metallurgical performance have been achieved, with mineral concentrate grades of greater than 23% REO, at overall recoveries at 78%, a significant increase on previous test work that generated concentrates of 15% REO at 79% recovery. Notably, the Kvanefjeld Feasibility Study uses a mineral concentrate grade of 14% REO; well below the grades achieved by the revised flotation process now under development. This significant increase in mineral concentrate grade with a lower mass pull will result in substantial reductions in the size of equipment leading to lower capital and operating costs of the processing plant (atmospheric leach) circuit. | |
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