Greenland Rare Earth Project

Operator: External Contractors

Ownership: 100% interest

Location:

Southern Greenland

Development Stage:

Early Exploration

Background

Cadence has four Exploration Licences covering an area of 213 km2. Two of these licences abut the northern and eastern boundaries of Greenland Minerals and Energy Limited’s ‘GGG’ licences that encompass the world-class Kvanefjeld, Sørenson, Zone 3 and Steenstrupfjeld Rare Earth Element (REE) deposits.

GGG’s latest estimates for inferred and indicated mineral resources at the Kvanefjeld deposit, as defined by JORC (March 2011), include a metal inventory of 6.55 million tonnes (Mt) of Total Rare Earth Oxides (TREOs), including 0.24 Mt of Heavy Rare Earth Oxides (HREOs) and 0.53 Mt of yttrium oxide, 350 Mlbs of U3O8 and 3 Blbs of zinc.

An extensive exploration programme was carried out on all four of  Cadence’s exploration licences in south Greenland from June to August 2014.

The reconnaissance stream sampling programme conducted has provided an extensive dataset for the licences. Full coverage of all of the licences was achieved, which has resulted in a significant exploration dataset providing an important tool on which to base further work.

The sampling identified areas anomalous in REEs, zinc, tungsten, silver and gold.