Greenland Mines (NASDAQ: GRML) has announced a significant upgrade to its mineral resource estimate for the Skaergaard project in southeast Greenland, with indicated palladium equivalent (PdEq) metal increasing 31% to 15.0 million ounces, according to a technical report summary completed by independent consultant SLR Consulting (Canada) Ltd. The updated estimate, effective July 3, 2026, also shows a 36% increase in indicated grade to 3.04 g/t PdEq and a 24% increase in inferred contained PdEq metal 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 technical report summary is compliant with the U.S. Securities and Exchange Commission’s S-K 1300 regulations, providing the regulatory foundation to advance toward an Initial Assessment under the same rules. This marks the first S-K 1300-compliant report for the Skaergaard project, setting the stage for more detailed economic studies.
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. The project is part of the company’s broader North Atlantic Critical Metals Corridor vision, which links Greenland resources with allied downstream jurisdictions and industrial infrastructure.
The announcement comes as Greenland Mines continues to advance its multi-asset platform, which includes not only the Skaergaard precious metals project but also, subject to closing of a previously announced transaction, the Sarfartoq neodymium-praseodymium (Nd-Pr) rare earths project in southwest Greenland. The company’s strategy is centered on exposure to rare earth magnet materials, precious metals and selected midstream processing opportunities.
The updated resource estimate underscores the potential of the Skaergaard project, which is located in a region that has attracted significant interest for its mineral wealth. The increase in both grade and contained metal could enhance the project’s economic viability, though the company cautioned that forward-looking statements involve risks and uncertainties. For more details, the full press release is available here.
Greenland Mines is a Nasdaq-listed company with two operating divisions: mining and biotech. The mining division focuses on exploration and development of the Skaergaard project, while the biotech division includes Klotho’s KLTO-202 primary indication for ALS. The company’s latest news and updates are available in its newsroom.
