Greenland Mines Provides Progress Update on 2026 Field Programs at Skaergaard and Sarfartoq
Greenland Mines (GRML) reports completion of its 2026 bulk-sampling program at the Skaergaard palladium-platinum-gold project and major fieldwork advances at the Sarfartoq rare earth project in Greenland.
Rhea-AI Summary
Greenland Mines (GRML) reports completion of its 2026 bulk-sampling program at the Skaergaard palladium-platinum-gold project and major fieldwork advances at the Sarfartoq rare earth project in Greenland.
At Skaergaard, the company collected a total of 104.8 tons of mineralized and host material from seven bulk-sample sites, including three major sites yielding approximately 30.4, 28.3 and 30.6 tons targeting resource-defining precious-metal horizons and vanadium-bearing titanomagnetite layers. Four additional medium-sized samples, totaling about 19.5 tons, were taken from assumed outcropping gold- and palladium-platinum-dominated horizons for variability studies. Bulk material will be shipped to GTK Mintec in Finland for large- and pilot-scale metallurgical test work, supported by new channel sampling, drone-based LiDAR surveys and a completed ground-penetrating radar program.
At Sarfartoq, the first full field season under Greenland Mines includes a fully manned camp, completion of a second year of environmental baseline studies, and a three-week structural mapping program over the ST1 resource zone and nearby rare earth targets.
Positive
- Skaergaard bulk samples total 104.8 tons from seven sites, exceeding the original plan.
- Three major Skaergaard sites yielded about 30.4, 28.3 and 30.6 tons for detailed metallurgical work.
- Four additional Skaergaard samples add roughly 19.5 tons to support variability and flowsheet definition.
- GTK Mintec pilot work planned using Skaergaard bulk material for large- and pilot-scale processing tests.
- Skaergaard ground-penetrating radar program completed, supporting infrastructure and mine engineering studies.
- Sarfartoq Initial Assessment high-case pre-tax NPV is approximately US$2.05 billion with a pre-tax IRR of 118.6% over nine years.
- Sarfartoq plan assumes processing 12.2 million tons at 1.32% TREO over a nine-year mine life.
- Planned Sarfartoq NdPr oxide output would equal about 34% of 2025 NdPr oxide refined outside China in each operating year.
- Second year of Sarfartoq environmental baseline completed, meeting two-year data requirement of Greenland’s regulator.
- Structural mapping at Sarfartoq targets ST1 and additional rare earth prospects to support resource growth.
Negative
- None.
News Explained
Sarfartoq has completed its second baseline year, while Skaergaard’s 104.8-ton total remains subject to final weight confirmation.
The new operational milestone at Sarfartoq is the first full field program since the acquisition closed on
That second year leaves baseline data spanning the minimum two-year period required by Greenland's Environmental Agency for Mineral Resource Activities, while mapping continues through late September.
At Skaergaard, the reported
Details
Market reaction after 2026 field program update: GRML -9.29%
Following this news, GRML has declined 9.29%, reflecting a notable negative market reaction. Our momentum scanner has triggered 14 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $3.46.
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Key Figures
- Bulk-sample material
- 104.8 tons
- 2026 Skaergaard program
- Bulk-sample sites
- 7 sites
- Skaergaard 2026 program
- Pre-tax NPV
- US$2.05 billion
- High-case Sarfartoq ST1 Initial Assessment
- Pre-tax IRR
- 118.6%
- High-case Sarfartoq ST1 Initial Assessment
- Mine life
- 9 years
- Sarfartoq ST1 Initial Assessment
- Material processed
- 12.2 million tons
- Sarfartoq ST1 Initial Assessment
- Delivered head grade
- 1.32% TREO
- Sarfartoq ST1 Initial Assessment
- Environmental baseline period
- 2 years
- Minimum period required by Greenland's Environmental Agency
Historical Context
-
Outlined Sarfartoq acquisition completion and upcoming field-program milestones
-
Closed Sarfartoq acquisition and disclosed initial assessment project economics
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
pre-tax net present value financial
internal rate of return financial
portable xrf technical
s-k 1300 regulatory
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Company completes 104.8-ton bulk-sampling program at Skaergaard; advances geological mapping and environmental baseline studies at Sarfartoq
CHARLOTTE, N.C., Sept. 11, 2026 (GLOBE NEWSWIRE) -- via IBN – Greenland Mines Ltd (Nasdaq: GRML) ("Greenland Mines" or the "Company") today provided an update on the progress of its 2026 field programs at the Skaergaard palladium-platinum-gold project in East Greenland and the Sarfartoq rare earth element project in West Greenland.
Bo Møller Stensgaard, President of Greenland Mines, commented:
"Our teams have delivered an outstanding field season at both projects. At Skaergaard, we set out to collect representative bulk material from three key horizons and ended up completing seven bulk-sample sites, giving GTK Mintec and our other metallurgical consultants substantially more material and more variability data than originally planned.
“At Sarfartoq, only weeks after closing the acquisition and announcing an Initial Assessment that demonstrated a high-case pre-tax net present value of approximately US
“This is exactly the kind of execution and pace we committed to our shareholders, and it positions both projects well ahead of their next technical milestones."
Skaergaard: Bulk-Sampling Program Completed, Exceeding Plan
Greenland Mines has completed its 2026 bulk-sample blasting program at Skaergaard, collecting a total of 104.8 tons of mineralized and host material from seven sites — more sites than originally planned for the season. All bulk samples were weighed in the field while being sling-loaded by helicopter to a central lay-down area, with final confirmed weights to follow in the next phase of test work.
The program's three major bulk-sample sites, yielding approximately 30.4, 28.3 and 30.6 tons of material, were located at the toe area in front of Forbindelsesgletscher, on the eastern shore of Uttentaldal Sund. These sites targeted, respectively, the modelled Palladium-Platinum-dominated mineralized Horizon 0, the Gold-dominated mineralized Horizon 3, and the interstitial vanadium-bearing titanomagnetite (VTM) horizons within the Skaergaard gabbro sequence.
Horizon 0 and Horizon 3 form part of the resource-defining horizon framework established for the Skaergaard Mineral Resource Estimate, with Horizon 0 hosting the Company's palladium-dominant "floor" mineralization and Horizon 3 hosting more gold-enriched material higher in the sequence. The VTM horizons occur as laterally continuous, oxide-bearing intervals interlayered with the precious-metal horizons, reflecting the intrusion's distinctive combination of a fine-grained, alloy-hosted precious metals system overlying a coarser-grained iron-titanium-vanadium oxide system.
Site selection for all three major bulk samples was based on detailed geological mapping and the modelled surface outcrop expressions of the gold- and palladium-platinum-dominated horizons and the VTM intervals, cross-checked against historical geochemical assay data.
This included non-SK-1300-compliant historical assay data from three approximately 800-kilogram mini-bulk samples collected by blasting in 2003 from the same general area — one from the palladium-dominated horizon, returning historical assays of up to 4.34 g/t palladium and up to 0.54 g/t gold, and two from the gold-dominated horizon, returning historical assays of approximately 3.3 g/t gold and up to 0.5 g/t palladium — together with non-SK-1300-compliant historical channel-sample assay data across the horizons, with the most recent channel data dating from 2021. These historical figures are provided for geological context only, are non-S-K 1300 compliant, and were not relied upon in the Company's current Mineral Resource Estimate.
In addition to the three major bulk-sample sites, four medium-sized bulk samples were collected from four further sites. These include two samples from the assumed outcropping, gold-dominated Horizon 5, weighing approximately 7.3 tons and 3.9 tons respectively, as well as two samples totaling approximately 4.3 tons from the southwest of the intrusion, representing the assumed outcropping palladium-platinum-dominated Horizon 0. These samples were collected to support variability studies, an essential step toward establishing a well-defined and stable metallurgical processing flowsheet.
As with the major sites, selection of these medium-sized sample locations was based on detailed mapping and modelled surface outcrop expressions, supported by historical channel-sample assay data across the horizons, with the most recent data from 2021.
The blasting program was carried out by an experienced blast crew from Greenlandic contractor Permagreen, working alongside Greenland Mines' own geological and technical team, which also participated in collecting the blasted material into large heli-portable bulk bags. The bulk sample bags will be shipped later this season to GTK Mintec in Finland, where they will be used for large-scale test work and pilot-scale test work aimed at establishing an efficient and robust processing route for the gold-, palladium- and platinum-mineralized and VTM-bearing material at Skaergaard.
All bulk-sample sites were covered by new channel sampling for later reference assay work and also covered by detailed drone-based LiDAR digital elevation surveys and photography, enabling the Company to precisely map the volumes of material removed at each site.
Independent topic specialists in mine engineering, infrastructure planning, processing, and tailings and waste-rock management were also on site over recent weeks, working alongside the Greenland Mines team to assess site conditions, collect topic-specific data, and plan the next phase of technical work at Skaergaard.
Separately, the Company has successfully completed its ground-penetrating radar survey program at Skaergaard, generating detailed measurements of surface cover thickness and characteristics that will support ongoing infrastructure and mine engineering studies.
Sarfartoq: Camp Opened, Structural Mapping Underway, Second Year of Environmental Baseline Studies Completed
At Sarfartoq, Greenland Mines has opened and fully manned its exploration camp for the 2026 field season, marking the first full field program since the Company closed its acquisition of the project on September 1, 2026.
This work builds directly on the compelling project economics established by the Company's Initial Assessment and closing of the Sarfartoq acquisition earlier this month, under which the ST1 deposit alone supports a high-case pre-tax net present value of approximately US
A consultancy team from WSP Denmark has been on site at Sarfartoq since early September conducting the second year of environmental baseline studies at Sarfartoq, building on the first year of baseline work completed in 2023. With this second year of fieldwork, Sarfartoq now has baseline data spanning the minimum two-year period required by Greenland's Environmental Agency for Mineral Resource Activities.
The 2026 program includes terrestrial sampling of lichens across fifteen stations, including three reference stations, to characterize background metal levels; freshwater sampling at five stations across the Paradise Valley and Robinson Valley catchments, including collection of Arctic char; marine intertidal sampling of seaweed, mussels and sculpin near the planned port facility; servicing of the water-flow monitoring station installed in 2023 – which was found to be in good condition and with a data record from the last three years; and general botanical, mammal and bird surveys across the license area. All sampling is being conducted in accordance with protocols developed by the Danish Centre for Environment and Energy for the Greenland mineral resources environmental sample bank, and the work is being carried out with specific accommodation for protected zones in the area, including the Arnnangarnup Qoorua valley and adjacent goose moulting and breeding grounds.
Separately, a geological and structural mapping team led by consulting structural geologist Jeroen van Gool — who brings an extensive personal research history in the Sarfartoq area from previous work in Greenland — is now on site for a three-week program running through late September. The team includes consultants and experienced Greenland-focused geologists together with geology students from the University of Copenhagen.
The program is focused on producing a coherent, detailed geological and structural map of the northern part of the Sarfartoq license, an area that hosts both the prime ST1 resource zone and several additional rare earth exploration targets. The team is collecting rock samples for geochemical analysis, including portable XRF measurements in the field and laboratory whole-rock analysis, to help refine understanding of the grade and extent of known mineralization and to test for new, previously unrecognized occurrences of economic interest across the license.
The program also incorporates hand-held geophysical instrumentation and drone-based topographic mapping to generate detailed orthophotos and a digital elevation model of the mapped area, adding a further layer of high-resolution structural context ahead of the next phase of resource expansion work at Sarfartoq.
About Greenland Mines Ltd
Greenland Mines Ltd is a Nasdaq-listed company with two operating divisions: (1) Mining, focused on the exploration and development of the Skaergaard Project in southeast Greenland and the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland; and (2) Biotech, including Klotho's KLTO‑202 primary indication for ALS. The Company's strategy is centered on building a multi-asset platform with exposure to rare earth magnet materials, precious metals, and select midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
Forward-Looking Statements
This press release contains forward looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are often identified by words such as "believe," "expect," "anticipate," "intend," "plan," "potential," "could," "may," "will," "should," "estimate" and similar expressions. These forward-looking statements include, but are not limited to, statements regarding the Company's field programs, exploration and metallurgical testwork plans, environmental permitting pathway, and expected timing of future technical studies at Skaergaard and Sarfartoq. These statements are based on current expectations and are subject to risks and uncertainties, including exploration, permitting, weather-related, logistical and financing risks. Field-measured tonnages referenced in this release are preliminary and subject to confirmation. Historical assay data referenced in this release relating to 2003 mini-bulk samples and historical channel sampling are historical in nature, have not been verified by a Qualified Person under SK-1300 or S-K 1300, and should not be relied upon as indicative of current or future mineral resources or reserves. The Initial Assessment for Sarfartoq referenced in this release is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have modifying factors applied to them that would enable them to be categorized as Mineral Reserves; there is no certainty that the results of the Initial Assessment will be realized, and no Mineral Reserves have been estimated for the Sarfartoq Project. Readers should refer to the Company's SEC filings and technical report summaries for complete disclosure and risk factors.
Investor Contact and Corporate Communications:
Website: www.greenlandmines.com
Corporate Communications:
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Attachments
- Greenland Mines Provides Progress Update on 2026 Field Programs at Skaergaard and Sarfartoq
- Greenland Mines Provides Progress Update on 2026 Field Programs at Skaergaard and Sarfartoq
- Greenland Mines Provides Progress Update on 2026 Field Programs at Skaergaard and Sarfartoq
- Greenland Mines Provides Progress Update on 2026 Field Programs at Skaergaard and Sarfartoq
- Greenland Mines Provides Progress Update on 2026 Field Programs at Skaergaard and Sarfartoq
- Greenland Mines Provides Progress Update on 2026 Field Programs at Skaergaard and Sarfartoq
- Greenland Mines Provides Progress Update on 2026 Field Programs at Skaergaard and Sarfartoq
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