Greenland Resources receives 1,148 square kilometer mineral license

Greenland Resources Inc. (TSX: MOLY) announced that the government of Greenland granted the company exclusive rights to special exploration license MEL-S 2026-07, covering 1,147.76 square kilometers in the Semersooq region. The new license surrounds the company's existing exploitation license for molybdenum and magnesium.

The special exploration license allows the company to explore for all minerals except hydrocarbons and radioactive elements. The license is subject to the government of Greenland's application procedures and standard terms, according to the company's statement.

Greenland Resources said geological survey data from rock samples in the new license area show multiple locations with anomalous molybdenum values that could potentially add to its Malmbjerg project. The company plans to establish an exploration program including hyperspectral surveys for the new concession.

The Toronto-based company focuses on developing its molybdenum deposit in central east Greenland. The Malmbjerg project has proven and probable reserves of 245 million tonnes at 0.176% MoS2, containing 571 million pounds of molybdenum metal, based on a 2022 feasibility study by Tetra Tech.

Greenland Resources was awarded an exploitation license for molybdenum and magnesium in June 2025. The European Commission's RESourceEU initiative mentioned the Malmbjerg project as a priority EU project in December 2025.

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