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Greenland Resources Provides Timeline on Malmbjerg Molybdenum Project Feasibility Study
TORONTO / Nov 22, 2021 / Business Wire / Greenland Resources Inc. (NEO:MOLY, FSE:2LF) (“Greenland Resources” or the “Company”) is pleased to announce a timeline
About this update from Greenland Resources Inc.
[{"type":"text","content":"TORONTO / Nov 22, 2021 / Business Wire / Greenland Resources Inc. (NEO:MOLY, FSE:2LF) (“Greenland Resources” or the “Company”) is pleased to announce a timeline for the Malmbjerg molybdenum project (the “Project”) NI 43-101 Feasibility Study that is being prepared by Tetra Tech Canada Inc. In 2018 the Company, in association with numerous world class consultants, commenced the optimization of the previous 2008 Feasibility Study prepared by Wardrop, now Tetra Tech. The Company’s engineering work completed to date includes a successful Concept Study (DRA, 2019) that proposed the use of process equipment modularization and the establishment of a shorter material handling route north to tidewater, aiming to reduce construction and opex cost and project commissioning time. Furthermore, during the summer of 2021, an ambitious field program was successfully completed, and confirmed the information and the processes needed to conclude the Feasibility Study as described in the Company’s press release dated September 15, 2021. On October 12, 2021 the Company press released a larger NI 43-101 Mineral Resource Estimate (Tetra Tech, 2021), and recent bench-scale metallurgical flotation tests of mineralized samples collected in the summer field program resulted in improved proforma metallurgical recovery response compared to the 2008 Feasibility Study test work. Moreover, the Company announced on October 19, the creation of a European Advisory Board and appointment of its first Senior Advisor to strengthen its presence in the European markets. As the constructability workshops, engineering design and our marketing efforts gain momentum, the Company is now prepared to provide a project timeline and is aiming to publish the Feasibility Study in the first quarter of 2022. Dr. Ruben Shiffman, Chairman, commented: “We aim to have Proven and Probable molybdenum Reserves and a new NI 43-101 Feasibility Study early next year. This is relevant to our Project and also to the European Union (EU) and its Associate member countries like Greenland, considering the EU has no molybdenum Reserves, despite being the second largest user of molybdenum in the world. The timing is right and there is a strong economic purpose for our world class Project as the EU moves towards securing minerals in Europe for their Green Deal and molybdenum, a green energy transitio...