GreenRoc increases exploration target to 5-15Mt at Amitsoq graphite project

GreenRoc Mining plc announced a “significant increase” to the exploration target for the Amitsoq Island graphite deposit in southern Greenland.

ESTIMATES

The company’s Amitsoq project hosts one of highest-grade graphite deposits in the world.

The initial resource estimate in May 2021 in a tonnage range of 1.7 Mt-4.5 Mt at a grade range of 24-36% graphitic carbon (Cg) has now increased to 5-15 Mt at a grade range of 18-22% Cg.

On 8 March, the company defined a combined indicated and inferred JORC resource of 8.28Mt at an average grade of 19.75% Cg, giving a total graphite content of 1.63Mt.

Alba Mineral Resources plc holds a 54% interest in GreenRoc.

DEPOSIT

The deposit is open along strike (predominantly to the north) and down dip to the west, and will tested in the Phase II drilling programme this year.

The company added that there was additional considerable upside potential to come from the, as yet undrilled Kalaaq deposit to the south of Amitsoq Island, for which a revised exploration target calculation is being conducted.

Technical work to date has confirmed that Amitsoq graphite could be upgraded to a more than 99.95% pure graphite product, which is the specification requirement for EV batteries.

RESOURCE POTENTIAL

“Our focus now is on building our resource tonnage to a level that will support a detailed feasibility study,” added interim chief executive Lars Brünner.

“More than half of the exploration target area for Amitsoq Island remains undrilled and the upcoming drill programme will focus on unlocking this resource potential.”

Mr Brünner added he was confident the current initial resource of 8.28Mt could increase and in so doing strengthen the commercial value of the project.