Licences over ~12,975 km2!
Greenfields has secured five Special Exploration Licences ('SELs') and one conventional Exploration Licence that collectively cover 12,975 km2 in central eastern Greenland (the Frontier Project).
The Frontier license area is larger than 35 countries and for comparison, it would:
cover ~10% of England (130,279km2)
cover ~90% of Northern Ireland (14,130km2)
is ~five times the size of Hong Kong (2,754km2)
is ~eighteen times the size of Singapore (698km2)
What is also remarkable is that for the most part, the licences are contiguous. The scale and connectedness provide, in addition to a first-mover advantage, economies of scale, big data perspectives and heightened probability of encapsulating deposits (room to move). The area is prospective for sedimentary hosted deposits, which relative to other deposit types, have the potential to be both inter-generationally large and high-grade/high-margin.
While the joint-venture with Independence Group means that we are hunting for a big deposit, that doesn’t mean there are many other nice things to look at. For example, based on historical work we know that there are at least two high-grade tungsten deposits in our licence area, and those that we know about are high-grade!
SELs are only available in the remote northern and eastern portions of Greenland. SELs may be sought when the application areas exceed 1,000 km2. SELs are intended to attract first-mover explorers into grossly under-explored parts of Greenland. The SELs are valid for three years, after which they may be converted to conventional exploration licences. The benefit of SELs is that they have much lower annual expenditure requirements, less than half that of the equivalent in Western Australia. It was these favourable terms that helped draw Greenfields' attention to central eastern Greenland.