Greenland Mines Ltd. (Nasdaq: GRML) reported an updated mineral resource estimate for its Skaergaard precious and critical metals project in southeast Greenland, showing a 31% increase in Indicated palladium-equivalent ounces compared to a 2022 baseline.

According to a press release from the company, SLR Consulting (Canada) Ltd. completed the first S-K 1300-compliant Technical Report Summary for Skaergaard, with an effective date of July 3, 2026. The report conforms to SEC requirements under Subpart 229.1300 of Regulation S-K.

Indicated palladium-equivalent contained metal rose from 11.41 million ounces to 15.00 million ounces, while Inferred resources rose 24% from 14.11 million ounces to 17.49 million ounces. Indicated PdEq grade climbed 36% from 2.23 g/t to 3.04 g/t, and Inferred grade climbed 44% from 2.14 g/t to 3.07 g/t.

The updated estimate used the same drill database as the 2022 estimate — 93 diamond drill holes and 30 channel samples totaling 42,050 meters. The changes stem from revised metal price assumptions, a new block modeling methodology, and updated classification boundaries. The 2026 estimate assumes gold at $3,500/oz, palladium at $1,725/oz, and platinum at $2,100/oz, replacing a prior gold assumption of $1,800/oz.

Indicated tonnes fell 3.4% to 153.6 million tonnes, and Inferred tonnes fell 13.6% to 177.5 million tonnes.

The S-K 1300 conversion enables the company to proceed to an Initial Assessment, the SEC equivalent of a preliminary economic assessment, which will evaluate an open-pit mining scenario at Skaergaard for the first time. The 2026 field program includes approximately 7,500 meters of helicopter-supported diamond core drilling.

Greenland Mines holds an 80% interest in the three Mineral Exploration Licenses covering Skaergaard through its subsidiary Major Precious Greenland A/S, with an option on the remaining 20%. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. No preliminary economic assessment or feasibility study has been completed on the project.

This article is based on a paid press release issued on behalf of Greenland Mines Ltd. Readers should be aware that the publisher holds shares in the company, which represents a conflict of interest.