Project
Sarfartoq Site
01
687 km² exploration license area in western Greenland, segmented into 40 sub-sites (ST1–ST40)
02
Hosted in a large Proterozoic carbonatite complex covering ~90 km² — a globally favored host for rare earth deposits
03
2026 SK-1300 resource estimate of 6.9 Mt Indicated at 1.6 wt% TREO and 5.3 Mt Inferred at 0.96% TREO in hybrid mining scenario.1
04
Elevated concentrations of all four magnet REEs — Nd, Pr, Dy and Tb — with Nd+Pr at 25%–40% of TREO
05
Drilling database of 161 holes / 35,843 m (94 core holes / 23,000+ m) included in the ST1 resource estimation
- SK-1300 Mineral Resource Estimate with effective date of July 31, 2026. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
- Definitive agreement signed on May 20, 2026, to acquire Neo North Star Resources, Inc., owner of the Sarfartoq Rare Earths Project in southwest Greenland. Closing of the acquisition is subject to customary closing conditions, including approval from the Government of Greenland under Section 69 of the Greenland Mineral Activities Act for the indirect transfer of the mineral rights licenses, as well as certain other regulatory and third-party consents.
Location & Infrastructure
Jurisdiction
Western Greenland — near established infrastructure corridors
Airport Access
~60 km from Kangerlussuaq International Airport
Tidewater Access
~20 km from tidewater
Terrain
Accessible terrain compared to many Arctic projects
Power
Adjacent to areas with hydroelectric development potential
Geology & Mineralisation
Host Complex
Large Proterozoic carbonatite complex covering approximately 90 km²
Exploration License
MEL 2020-32 — 687 km² total, segmented into 40 sub-sites (ST1–ST40)
Priority Sub-Sites
MEL 2020-32 · 687 km² · 40 Sub-Sites (ST1–ST40)
ST1
Shorter Path to PFS
- Most advanced sub-site within the license area
- 2026 SK-1300 resource estimate of 6.9 Mt Indicated at 1.6 wt% TREO and 5.3 Mt Inferred at 0.96% TREO in hybrid mining scenario
- Drilling database: 161 holes / 35,843 m (incl. 94 core holes / 23,000+ m)
- Metallurgical testing and environmental baseline work already undertaken
ST40
Higher NdPr Indications
- Adjacent to ST1
- Higher NdPr (magnet rare earth) indications
- Drives the upside case for magnet-grade material
- Priority follow-up target for definition drilling
38
Additional Sub-Sites
- 38 further sub-sites across the 687 km² license area
- Multi-commodity exposure: REE, Nb, Ta, Sr, P, and diamonds
- Long-dated exploration pipeline beyond ST1 / ST40
Geological Setting
The Sarfartoq carbonatite complex is a Proterozoic alkaline intrusion covering approximately 90 km², emplaced into the North Atlantic Craton of western Greenland. Carbonatite complexes are globally recognised as important hosts for REE deposits due to their favorable beneficiation characteristics.
Strategic Position
The license sits within 60 km of an international airport, within 20 km of tidewater, on accessible terrain, and adjacent to hydroelectric development potential — a combination of infrastructure advantages rarely available to greenfield REE projects in the Arctic.
REE Potential & ST1 Resource
Why Sarfartoq — The Magnet REE Advantage
NdPr Distribution
Low uranium content
Strategic Relevance
Resource Longevity
Sarfartoq SK-1300 Resource Estimate
(July 31, 2026)
Category
Indicated
Inferred
Tonnes (Mt)
5.9
2.5
TREO (wt%)
1.8%
1.6 %
NdPr Ratio of TREO
25% – 40%
1 %
NOTES
- Mineral resource estimate prepared by Ronald G. Simpson of GeoSim Services Inc. with an effective date of July 31st, 2026.
- Mineral Resources are estimated consistent with CIM Definition Standards and reported in accordance with S-K 1300.
- Mineral resources are not mineral reserves and do not have demonstrated economic viability.
- Mineral resources are constrained by an optimized pit shell using the following assumptions: REO prices as listed in Table 1-1; assumed deductions of metallurgical recovery of 64%, payability of 60%, royalties of 5%, and insurance of 0.5%; open pit mining costs of US$6 per tonne mined; underground mining costs of US$55 per tonne; processing costs of US$69.72 per tonne; G&A of US$16.5 per tonne and using the full basket NSR optimization.
- The base case NSR cut-off of $92.22/t is believed to provide a reasonable margin over operating costs for the open pit mining and processing component. The base case NSR cut-off of $141.22/t is believed to provide a reasonable margin over operating costs for underground mining and processing component.
- Mineral resource estimates prepared by Ronald G. Simpson, P.Geo, of GeoSim Services Inc., an independent Qualified Person, with an effective date of July 31, 2026.
- Mineral Resources are estimated consistent with CIM Definition Standards and reported in accordance with S-K 1300.
- Mineral resources are not mineral reserves and do not have demonstrated economic viability.
- Totals may not sum due to rounding.
Exploration & Development Status
01
Drilling Database
161 holes totalling 35,843 meters — including 94 core holes of more than 23,000 meters — are included in the ST1 resource estimation.
02
Resource Estimate
2026 SK-1300 resource estimate of 6.9 Mt Indicated at 1.6 wt% TREO and 5.3 Mt Inferred at 0.96% TREO in hybrid mining scenario. Nd+Pr represents 25% to 40% of total rare earth oxides.
03
Metallurgy
Metallurgical testing has been undertaken. The processing of monazite and bastnäsite is well and broadly understood — materially de-risking the flowsheet.
04
Environment
Preliminary environmental baseline studies have been completed, providing a foundation for permitting workstreams.
05
ST40 & Sub-Site Pipeline
Beyond ST1, the license holds 39 additional sub-sites — most notably ST40, adjacent to ST1, with higher NdPr indications and a deep exploration pipeline across 687 km².
