GreenRoc Mining plc announced a “significant” initial ore resource, with total graphite content exceeding the previous tonnage range at its Amitsoq project, southern Greenland.
JORC RESOURCE
The company reported a combined indicated and inferred JORC resource of 8.28 million tonnes (Mt) at an average grade of 19.75%, giving a total graphite content of 1.63Mt.
This included a “particularly high-grade contribution” from the lower graphite layer of 3.67Mt at a grade of 21.19%, for 0.775Mt of contained graphite.
GreenRoc said that the figures confirmed Amitsoq as having as one of the highest-grade graphite deposits globally and supported GreenRoc’s aim to move the project swiftly to development phase.
The total graphite content of 1.63 Mt is in excess of the upper end of the tonnage range in the previously declared Amitsoq exploration target of between 0.408 to 1.620 Mt of contained graphite from the entire target area.
More than 25% of the contained graphite in the resource falls within the indicated category.
PHASE II DRILLING
Planning and procurement has started for the Phase II drilling campaign at Amitsoq.
The programme will test the deposit which is open along strike, predominantly to the north, and down dip to the west.
More than half the exploration target area for Amitsoq Island remains undrilled.
GreenRoc said that metallurgical testing confirmed that the Amitsoq graphite could be upgraded to more than 99.95% pure graphite, the specification required for electric vehicle lithium-ion batteries.
FEASIBILITY STUDY
Chief executive Kirk Adams added that the very high average grade at the Amitsoq deposit reduced the cost of mining and mineral production on a per tonne of concentrate basis, as well as the waste per tonne of ore mined.
“We are confident that the resource on Amitsoq Island will increase in both tonnes and
classification following this year’s programme to the extent that we hope to have the resource basis to undertake a detailed feasibility study on the deposit.
“We are also mindful of the additional considerable upside potential still to come from the, as yet undrilled, Kalaaq deposit to the south of Amitsoq.”
GreenRoc Mining plc is a subsidiary of Alba Mineral Resources plc which holds a 54% interest.
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