Greenland Mines (NASDAQ: GRML) announced that independent consultant SLR Consulting (Canada) Ltd. has completed the first U.S. Securities and Exchange Commission S-K 1300-compliant Technical Report Summary for the Skaergaard project in southeast Greenland. The report features an updated 2026 Mineral Resource Estimate effective July 3, 2026, which significantly increases the project's resource base.
The estimate indicates a 31% increase in indicated contained palladium equivalent (PdEq) metal to 15.0 million ounces, with indicated grade rising 36% to 3.04 g/t PdEq. Inferred contained PdEq metal increased by 24% to 17.49 million ounces compared with the project's 2022 resource estimate. The company attributed the upgraded resource to improved geological modeling and updated metal price assumptions, including gold at $3,500 per ounce.
The S-K 1300 compliance provides the regulatory foundation to advance toward an Initial Assessment, a key milestone for the project. Greenland Mines also noted that its 2026 field program is underway, with drilling, bulk sampling, engineering, environmental and geotechnical work designed to support evaluation of both open-pit and underground mining scenarios at the Skaergaard project.
This announcement is significant because it demonstrates tangible progress in resource definition and regulatory compliance for a major precious metals project in Greenland. The increase in both indicated and inferred resources strengthens the project's economic potential and could attract further investment. The updated estimate also validates the company's geological modeling and exploration strategy.
Greenland Mines operates with two divisions: Mining, focused on the Skaergaard project and the Sarfartoq rare earths project, and Biotech, including Klotho's KLTO-202 for ALS. The company's strategy centers on building a multi-asset platform with exposure to rare earth magnet materials, precious metals and selected midstream processing opportunities, while advancing its broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.
For more details, the full press release is available at https://ibn.fm/qqEBp. The latest news and updates relating to GRML are available in the company's newsroom at https://ibn.fm/GRML.
Certain statements in this article are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management's control, including the risks set forth under the heading "Risk Factors" discussed under the caption "Item 1A. Risk Factors" in Part I of the Company's most recent Annual Report on Form 10-K or any updates discussed under the caption "Item 1A. Risk Factors" in Part II of the Company's Quarterly Reports on Form 10-Q and in the Company's other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this article in making an investment decision, which are based on information available to us on the date hereof. All parties undertake no duty to update this information unless required by law.
