Located in north-west Greenland, some 80 km south of the regional settlement of Qaanaaq, the Thule Black Sands heavy mineral sands project (‘TBS’) is situated on the Steensby Land peninsular in north-west Greenland, on the same stretch of coastline as the Dundas Project (Mineral Resource Estimate 117Mt at 6.1% ilmenite).

The project has a maiden Mineral Resource estimate of 19Mt@ 43.6% Total Heavy Minerals with an in-situ ilmenite grade of 8.9%, which is found at or near surface on active beaches and raised terraces; this is sufficient to sustain a 10-year mine life at a mining rate of 1.5 million tonnes per annum.

TBS is owned by GreenRoc’s wholly-owned subsidiary White Eagle Resources Limited (“White Eagle”).  The project benefits from a nearby domestic airport and deep-water harbour, and sheltered bays on the project coastline, which could prove invaluable for the siting of future infrastructure.

An extensive surface drilling campaign in 2018 led to White Eagle declaring the current Mineral Resource estimate of 19Mt@ 43.6% Total Heavy Minerals.

In June 2021 an independent Exploration Target* was determined for the TBS Project. The Exploration Target for the combined North, Central and South areas was declared to range from 70 to 300 million tonnes of material with a range of percentage of total heavy minerals (THM%) of 35-50%, a range of ilmenite grade (as a percentage of THM) of 12-22% and a range of in-situ ilmenite grade of 6-11%.

*The potential quantity and grade of the Exploration Target is conceptual in nature, insufficient exploration has been completed to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

This Exploration Target was partially tested in the follow-up drilling programme which was completed in the summer of 2021. A total of 249 holes were drilled, extending from the southern tip of the licence for a distance of 8 km to the north. Depths of mineralised sand reached up to 6m in some places, with average depths of 2.2m. A drone photogrammetric survey and bathymetric off-shore survey were also completed, which will assist in future mine and infrastructure planning.

The drill samples have been assayed, and currently an independent Competent Person (IHC in Australia) is working on dertermining an upgrade to the existing Mineral Resource estimate.  A significant upgrade will pave the way for GreenRoc to commence scoping level studies to assess the economic exploitation of the Project. As part of the road towards exploitation permit, an EIA and SIA was initiated also in 2022, with nearly all of the EIA field work now complete.

Further upside opportunity also remains as, whilst the higher-grade southern portion of the licence has now been comprehensively drilled, there is further exploration opportunity in the central and northern areas.