Eclipse Metals Lands Drill Rigs in Greenland to Test Upgrade of 208Mt Rare Earths Find

Diamond drilling gets underway at Grønnedal as equipment lands in South Greenland

Eclipse Metals (ASX: EPM) has moved from planning to field execution at its 100%-owned Grønnedal Rare Earths Project in South Greenland. Drilling and support equipment has arrived, and unloading is underway.

The equipment supports the previously announced 17-hole, 2,400-metre diamond drilling program. Diamond drilling pulls up solid rock core, which gives geologists physical samples to study.

Eclipse also received the updated field activity approval required after it appointed a new drilling contractor and made associated changes to the operating arrangements. For you as an investor, that is one approval now in hand ahead of drilling. The announcement does not disclose a drilling start date.

Carl Popal, Executive Chairman, Eclipse Metals

“The arrival of the drilling equipment and commencement of camp, access and drill-site preparation mark an important transition from planning to field execution.”

Mobilisation progress

The company described two separate shipments. Here is where each stands:

1. An initial shipment delivered the camp equipment, and camp establishment is underway.
2. A second vessel carrying two diamond drilling rigs, machinery and supporting equipment has arrived at the project area, with unloading in progress.
3. Both shipments went directly to the Ivigtut landing facility, which is located within Eclipse’s mining lease.
4. Access-track and priority drill-site preparation is progressing concurrently, ahead of transferring the equipment from the fjord landing area to Grønnedal.

Mobilisation is the stage where a drilling program is most exposed to logistics. The steps above show the physical groundwork is moving, though no completion timeline was given.

What the 17-hole program aims to deliver

The planned program combines two approaches. Infill drilling targets selected areas within the current Inferred Resource, while step-out drilling tests beyond existing resource limits.

The company said the program has the potential to:

• Support conversion of selected Inferred resources to the higher-confidence Indicated category.
• Test opportunities to extend mineralisation beyond the current resource boundary.
• Strengthen geological confidence across the deposit.
• Provide additional core for mineralogical, metallurgical and future development studies.

Eclipse describes the program as designed to deliver these outcomes. No drilling results exist yet, so each remains a goal rather than a finding.

Why Inferred to Indicated matters

Mineral resources are graded by how confident geologists are in them. Inferred is the lowest confidence category, while Indicated is higher confidence and supports more detailed studies.

The numbers show the gap. Only 6Mt of the 208Mt resource is currently classed as Indicated, so there is considerable room for upgrades if drilling supports them.

The metals matter too. Neodymium and praseodymium are magnet rare earths used in high-strength permanent magnets across electric mobility, renewable energy, robotics, advanced manufacturing and defence applications.

A 208Mt resource enriched in magnet rare earths and strontium

Grønnedal hosts a Mineral Resource of 208Mt at 0.72% TREO (total rare earth oxides), containing approximately 1.505Mt TREO. That includes approximately 456,000 tonnes of contained neodymium and praseodymium oxides. The resource was announced on 29 April 2026.

It also contains 3Mt of strontium oxide (SrO) at an average grade of 1.45% SrO. The appendix to the announcement shows 1.45% for the Indicated category and 1.43% for the Total, so the average grade differs slightly depending on where you look.

The estimate uses a 2,000ppm TREO cut-off. Here is the breakdown:

The Inferred category makes up nearly all of the resource, which is why the infill component of the program carries so much weight.

Strategic Greenland location

Grønnedal is located near deep-water access and established infrastructure within the historic Ivigtût–Grønnedal mining district. That sits alongside the Ivigtut landing facility already used for this mobilisation.

The company says the project is advancing at a time of heightened international focus on Greenland and the development of secure, diversified critical-mineral supply chains. It points to recent initiatives by the European Union and United States that it says have reinforced the strategic importance of rare earths and Greenland’s potential role in future Western supply chains.

That is Eclipse’s own framing, but it explains the positioning the company is pursuing. Mr Popal said the company has “a timely opportunity to advance a strategically located magnet rare earth project.”

What’s next for Eclipse

Eclipse will provide a further operational update as site preparation advances and drilling gets underway. Mr Popal said the company’s immediate focus is “completing mobilisation safely and efficiently ahead of drilling.”

Three milestones are worth watching:

• Completion of mobilisation, including the transfer of equipment from the fjord landing area to Grønnedal.
• Commencement of drilling.
• The first assay results, which would show whether the drilling supports the resource upgrade and extension goals.

The announcement gives no timelines for any of these, so the pace of updates will be the next signal to track.

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