Eclipse Metals (ASX:EPM) said mobilization is underway ahead of diamond drilling set to start this month at the Gronnedal carbonatite complex in Greenland, according to a Friday filing with the Australian bourse.
The carbonatite deposit hosts an inferred resource of 89.2 million tonnes of rare earth elements at 6,363 parts per million total rare earth oxides (TREO), totaling 567,600 tonnes of TREO, the filing said.
The drilling campaign is designed to expand and upgrade the existing JORC-compliant mineral resource estimate, according to the filing.
Shares fell 3% in afternoon trade Friday.
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