More deep TREO drill assays at European Lithium’s Tanbreez highlight resource growth potential

• European Lithium reveals more thick, deep TREO assays from historical drill holes at Tanbreez
• Notable results vertically drilled from surface include 195m averaging 4,211ppm TREO in hole DX-02 and 328m at 4,539ppm TREO in D306-13
• These results indicate potential to extend current results through infill and extensional drilling

Special Report: European Lithium has highlighted the potential to extend mineralisation at its giant Tanbreez project in Greenland after publishing further assay results from historical deep diamond holes.

Hole DX-02 that was drilled in 2010 about 505m east of the current Hill Zone resource of 22Mt at 0.38% total rare earth oxides returned mineralisation averaging 4,211ppm (0.42%) TREO – 24% of which is valuable heavy REOs from surface to a vertical depth of 195m.

It also returned 0.91% zircon oxide (ZrO₂), 63ppm tantalum pentoxide (Ta₂O₅), 1293ppm niobium pentoxide (Nb₂O₅), 181ppm hafnium oxide (HfO₂) and 98ppm gallium oxide (Ga₂O₃).

European Lithium (ASX:EUR) added that holes drilled in 2013 also returned thick intervals of REE mineralisation that extended deep below the surface.

This is highlighted by hole D306-13, which was drilled about 400m to the east of the 23.6Mt at 0.42% TREO Fjord resource and intersected average mineralisation of 4,539ppm TREO from surface to a depth of 328m.

It also returned 1.7% ZrO₂ and 2479ppm Nb₂O₅ while Ga₂O₃ was not assayed.

These follow other recently unveiled results such as DX-01 that returned an average mineralised grade of 4,209.22ppm TREO from surface to 338m down-hole within the Hill Zone resource.

EUR holds a direct 7.5% interest in Tanbreez. It also holds ~68% of the issued capital in Nasdaq-listed Critical Minerals Corp, which currently owns 42% of Tanbreez with the right to earn a 92.5% interest.

Compelling opportunity

The new results arise from the company’s work re-assaying historical pulps stored in Perth and Greenland from existing 2007, 2010, 2013 and 2024 drilling, rock chip and bulk sampling.

They highlight a compelling opportunity to increase the existing JORC resources at Hill Zone and Fjord through infill and extensional drilling between all historical diamond and reverse circulation holes.

While there is never a guarantee of economic mineralisation, results confirming deep, highly mineralised TREO for each drill hole contained within the Kakortokite are certainly promising.

Several holes were also assayed for gallium, which is valued for use in semi-conductors and could represent a valuable by-product.

Low levels of radioactive uranium and thorium are further positive takeaways as it makes processing a lot simpler and potentially simplifies approvals.

“It’s exciting to report more deep diamond drill hole results and outstanding assay results from historical deep drilling that may confirm higher tonnage potential that extends a lot deeper and wider than was originally expected for the Tanbreez project,” executive chairman Tony Sage said.

He added that with the recent announcement of a resource estimate and scoping study highlighting robust economic results – including NPV of US$2.4bn on a 10% discount and IRR of 162% before tax, the company was now assembling a highly experienced team and moving quickly to the next major milestone measuring the true potential of Tanbreez.

“The team is now planning resource drilling to extend and grow the Tanbreez resource and mobilising a crew to Greenland in preparation for a series of exploration, mining and engineering surveys working closely with the Greenland government and stakeholders in-country which is now underway,” he added.

EUR has applied to the Greenland government for a program of works for its 2025 resource drilling program aimed at increasing current inferred and indicated resources.

These applications are well advanced with drilling and exploration teams preparing for mobilisation in mid-to-late June.

The company has also engaged an independent consultant to report on a potential resource upgrade if the extensional drilling campaign uncovers more economic mineralisation and will also negotiate an engagement for partners on its next move to a feasibility study.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.