Greenland Mines (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 is expected to generate geological, metallurgical, and engineering data to support mine planning and broader development studies. Greenland Mines 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 development marks a significant step for Greenland Mines as it progresses the Skaergaard project toward potential development. The project is part of the company's broader strategy to build a multi-asset platform with exposure to rare earth magnet materials, precious metals, and selected midstream processing opportunities. The company's vision includes a North Atlantic Critical Metals Corridor linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
Greenland Mines operates 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 (Nd-Pr) rare earths project in southwest Greenland; and Biotech, including Klotho's KLTO‑202 primary indication for ALS. The company is Nasdaq-listed and aims to advance critical mineral projects that are strategically important for supply chain diversification.
The drilling contract award is a key milestone for the Skaergaard project, which is located in a region with significant mineral potential. The 2026 program is designed to de-risk the project by providing the necessary data for feasibility studies and permitting. For industry leaders, this announcement underscores the ongoing investment in critical mineral projects outside of dominant supply chains, which can have implications for supply security and pricing of metals used in technology and green energy applications.
For more details, the full press release is available at https://ibn.fm/9uyEs. Additional updates and news relating to Greenland Mines can be found in the company's newsroom at https://ibn.fm/GRML.
Forward-looking statements in this article involve risks and uncertainties, including those described in the company's filings with the SEC. Undue reliance should not be placed on forward-looking statements.
