Greenland Mines Ltd. has reported a sizable increase in the estimated grades and contained metal at its Skaergaard gold-palladium-platinum project in southeast Greenland.
The company’s first S-K 1300 Technical Report Summary places the project’s indicated resource at 15 million ounces of palladium equivalent, an increase of 31.5% from the 2022 estimate. The inferred resource rose 24% to 17.49 million ounces.
Reported palladium-equivalent grades increased by 36.3% in the indicated category and 43.5% in the inferred category, reaching 3.04 grams per tonne and 3.07 grams per tonne respectively.
Existing data, revised assumptions
The increase reflects a re-analysis of the existing exploration database rather than new drilling. The estimate uses the same 93 diamond drill holes and 30 channel samples included in the 2022 resource.
Changes include a new block model designed to better represent Skaergaard’s shallow, bowl-shaped mineralized horizons, updated resource-classification boundaries and revised metal-price assumptions. The gold price used in the estimate increased from US$1,800 to US$3,500 per ounce, while platinum rose from US$1,250 to US$2,100. Greenland Mines identified the updated pricing as the main driver of the higher reported grades.
The revised model contains fewer tonnes. Indicated tonnage declined 3.4% to 153.6 million tonnes, while inferred tonnage fell 13.6% to 177.5 million tonnes. The resulting inventory is smaller by tonnage but higher in estimated grade and contained palladium-equivalent metal.
Completion of the S-K 1300 report gives Greenland Mines a technical foundation for an Initial Assessment, the US reporting equivalent of a preliminary economic assessment. That study is expected to examine a possible open-pit operation on the northern plateau alongside underground development options.
New drilling from the company’s 2026 field program will be incorporated into later technical work.
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