Greenland Mines Ltd (NASDAQ: GRML) announced it has awarded a diamond drilling contract to Nordisk Fundering A/S for the 2026 field campaign at its 80%-owned Skaergaard precious and critical metals project in southeast Greenland. The planned program includes approximately 7,500 meters of helicopter-supported diamond core drilling aimed at advancing resource categories, collecting additional metallurgical material, and supporting geotechnical studies for potential future open-pit development scenarios.
The integrated campaign will utilize three helicopter-portable drill rigs and will generate geological, metallurgical, and engineering data to support mine planning and broader development studies. The company noted that Nordisk Fundering’s Arctic and geotechnical drilling experience is expected to enhance execution of the program, which will run alongside ongoing metallurgical and processing work being conducted with GTK Mintec to support future economic evaluations of the Skaergaard project.
This announcement marks a significant step for Greenland Mines as it progresses the Skaergaard project toward potential development. The Skaergaard project is known for its significant deposits of precious metals and critical minerals, which are essential for various high-tech and green energy applications. The drilling program is designed to upgrade resource categories, which is crucial for feasibility studies and eventual mine planning. The inclusion of geotechnical studies indicates the company is evaluating the viability of open-pit mining, which could reduce costs and increase the project's economic attractiveness.
Greenland Mines Ltd operates through two divisions: Mining, focused on the exploration and development of the Skaergaard Project and, subject to closing of a previously announced transaction, the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland; and Biotech, including Klotho’s KLTO-202 primary indication for ALS. The company's strategy centers on building a multi-asset platform with exposure to rare earth magnet materials, precious metals, and selected midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
The 2026 drilling program is a key component of this strategy, as it aims to generate the data needed to support economic evaluations and potential development decisions. The partnership with Nordisk Fundering, a company with Arctic drilling expertise, is expected to mitigate operational risks in Greenland's challenging environment. The results of this campaign will be critical for Greenland Mines as it seeks to advance the Skaergaard project and contribute to the supply of critical minerals for global markets.
For more information, visit the company's newsroom at https://ibn.fm/GRML and view the full press release at https://ibn.fm/9uyEs.
