Greenland Mines Ltd (GRML) Stock: Slides 13% as 4,480-Meter Drilling Program Moves Skaergaard Toward Assessment

TLDR

• Greenland Mines stock slides 13% after breaking sharply below the key $10 level.
• The Skaergaard campaign completed 4,480 meters of drilling across 17 holes.
• More than 104 tons of bulk material will support larger metallurgical tests.
• New LiDAR, magnetic, and bathymetric data strengthen future mine planning work.
• Environmental baseline work advances Skaergaard toward an Initial Assessment.

Greenland Mines Ltd fell 13.21% to $9.21 after breaking below the $10 level during Thursday trading. The decline came as the company completed its 2026 Skaergaard field program in southeast Greenland. The program now moves Skaergaard toward metallurgical studies, mine planning, environmental work, and an Initial Assessment.

Greenland Mines Ltd., GRML

Greenland Mines Completes 4,480-Meter Drilling Program

Greenland Mines completed 4,480 meters of diamond drilling across 17 holes during the field season. Global Drilling recovered both HQ and NQ core from several parts of the mineralized system. The company designed the work to support metallurgy, geotechnical studies, geochemistry, and future mine planning.

The program also produced more than 104 tons of bulk material from blasted mineralized sites. Greenland Mines mapped and sampled each site before contractors completed the blasting work. The larger samples will support more representative testing of gold, palladium, platinum, vanadium, iron, and gallium.

GTK Mintec will assess metal recovery, material variability, comminution needs, and potential by-product recovery. The company also collected large-diameter HQ core for deeper metallurgical testing. Meanwhile, NQ core will support assays and geotechnical analysis for possible open-pit and underground development.

Skaergaard Data Expands Mine Planning Work

Greenland Mines added new structural, geophysical, terrain, and hydrological data during the campaign. Teams used core photography, density measurements, point-load testing, televiewer surveys, and deviation surveys. These datasets will support future mine design, groundwater studies, and geological model updates.

The company also completed detailed drone LiDAR and photogrammetry across development areas. The surveys covered possible mine access, waste areas, tailings locations, and infrastructure zones near Miki Fjord. Greenland Mines reported LiDAR precision of about three to four centimeters across surveyed areas.

A drone aeromagnetic survey covered about 482 line-kilometers across 10.8 square kilometers. The survey focused on geological correlation, structural interpretation, drill targeting, and mine-planning applications. Greenland Mines also completed bathymetry and ground-penetrating radar work for access and infrastructure studies.

Environmental Work Supports Initial Assessment

WSP Denmark completed the first year of environmental baseline studies at Skaergaard during the 2026 campaign. The work starts a multi-year dataset for future environmental assessment and permitting requirements. Greenland Mines will combine those findings with engineering and technical studies during the next development phase.

The company also tested portable X-ray fluorescence methods against decades of historical drilling and assay data. That work identified geochemical patterns that could improve logging and mineralized-horizon targeting. Greenland Mines plans further laboratory validation before using the method more widely in project development.

Skaergaard contains gold and palladium-platinum mineralization within gabbro host rocks in East Greenland. Greenland Mines also controls the Sarfartoq project in West Greenland, which adds rare earth exposure. Together, the projects give the company exposure to precious metals and several critical mineral categories.

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