European Lithium (ASX:EUR) has engaged global engineering firm NIRAS to complete a Definitive Feasibility Study (DFS) for a 500,000 metric tonnes per year mining and processing operation at the Tanbreez Rare Earth Project in Greenland.
The DFS, which will be completed in the December quarter, will address all technical, environmental, and commercial aspects of Tanbreez. This includes the final mine design and production schedule for bulk mining of stratiform kakorotokite-hosted mineralisation.
Kakorotokite is a rare igneous rock that has hues of red, pink, and green due to the presence of various minerals such as nepheline, sodalite, and eudialyte. It is considered a decorative stone that can be polished for use in jewellery, ornamental objects, and decorative building material.
The DFS will also address process plant engineering, material handling, logistics and export options, as well as capital and operating cost estimates.
European Lithium, which has a market capitalisation of $127.18 million, says the DFS will form the central component of the Tanbreez updated exploitation licence documentation to be submitted. This submission will support progressing the project towards a final approval to begin commercial mining operations.
Executive Chairman Tony Sage says engaging NIRAS is a key development in advancing the efforts to commercialise Tanbreez.
“We look forward to partnering with NIRAS, a well-respected firm both in Greenland and globally, to help us unlock enormous value at the Tanbreez Project,” Sage says.
Critical Metals Corp (NASDAQ:CRML) 42% owns the Tanbreez Project, while European Lithium owns 60% of the issued capital in Critical Metals Corp. Critical Metals has the right to earn 92.5% while European Lithium will hold the remaining 7.5% interest.
The Tanbreez Project is a hard rock rare earth deposit located in southern Greenland.
European Lithium is an explorer and developer focused on lithium, rare earths, precious and base metals in Austria, Australia, Ireland, and Ukraine.
Write to Aaliyah Rogan at Mining.com.au
Images: European Lithium & Geology Science
