European Lithium releases HREE-rich, 45-million-tonne maiden mineral resource estimate for Greenland’s Tanbreez Project

European Lithium Ltd has delivered a maiden mineral resource estimate (MRE) of 45 million tonnes at 0.4% rare earth oxide (REO) for the Tanbreez Rare Earth Project in Greenland.

The project’s first MRE speaks to its promise as a globally significant heavy rare earth (HREE) resource.

With a favourable location, high-value HREE composition and strategic partnerships in place, Tanbreez is expected to play a crucial role in securing a stable REE supply for Western industries at what is shaping up to be a critical geopolitical moment.

The estimate, initially prepared in 2016 for Rimbal Proprietary Limited by Al Maynard and Associates Pty Ltd, has been reported following European Lithium’s acquisition of an interest in the project.

Strategic significance

The Tanbreez Project represents a major critical minerals asset, poised to supply rare earth elements (REEs) to North America and Europe.

The project contains more than 27% HREE, which represents a much higher-value category compared to light rare earth elements (LREEs), which dominate other REE projects globally.

Situated in southern Greenland, Tanbreez benefits from year-round direct shipping access via deep-water fjords that connect to the North Atlantic Ocean.

This strategic location is expected to facilitate efficient transportation of REE products to international customers.

Mineralisation potential

The Tanbreez Project consists of two primary mineralised areas, Tanbreez Fjord and Tanbreez Hill, situated within a 5-kilometre x 2.5-kilometre Kakortokite host unit, which extends to a depth of some 270 metres.

This host rock contains an estimated 4.7 billion tonnes of Kakortokite, though its overall mineralisation potential remains uncertain.

While the estimate is based on 414 historical exploration drill holes and additional surface exposures, it has not been updated since its initial preparation and the estimate is conceptual in nature.

With expected demand for REEs from sectors such as defence, electric vehicles and next-generation electronics, Tanbreez is positioned as a key supplier of sustainable and long-term REEs for Western markets.

European Lithium moves in

European Lithium first acquired a 5% interest in Tanbreez Mining Greenland A/S in October 2022, later increasing its stake to 7.5% in February 2023.

In June 2024, EUR subsidiary Critical Metals Corp. (NASDAQ: CMC) entered into an agreement with Rimbal Pty Ltd to acquire up to 92.5% of Tanbreez, and has already secured a 42% stake.

Together, European Lithium and CMC now hold a combined 49.5% interest in the project, with European Lithium serving as CMC’s largest shareholder.

Following consultation with the Australian Securities Exchange (ASX), European Lithium has now deemed the Tanbreez Project to be a material asset, warranting the disclosure of the MRE.

Next steps

CMC has completed due diligence and is preparing an S-K 1300 Report for submission to the US Securities and Exchange Commission (SEC).

Additionally, the company has undertaken a drilling program focused on confirmation, extension and infill drilling, with assay results anticipated in the near future.

These studies will support Mine Development Studies and further resource expansion efforts.