This features a high-grade contribution from the Decrease Graphite Layer of three.67 million tonnes at 21.19% for 775,000 tonnes of contained graphite.
GreenRoc stated the maiden useful resource confirmed Amitsoq’s place as one of many highest-grade graphite deposits globally, supporting the corporate’s goal of fast-tracking the venture into the event section.
The deposit is alleged to be open alongside strike (predominantly to the north) and down dip to the west, and this can be examined within the Part 2 drilling programme this 12 months.
Planning and procurement for the Part 2 drilling marketing campaign superior with the appointment of contractors as a result of be finalized this month.
Metallurgical testing confirms that the Amitsoq graphite will be upgraded to a greater than 99.95% pure graphite product, which is the specification requirement for EV lithium-ion batteries, which entails an ultra-high development sector of the graphite market.
“This maiden JORC useful resource launches GreenRoc into the worldwide graphite useful resource house with one of many highest-grade graphite tasks on this planet,” CEO Kirk Adams stated in a press launch.
“We’re assured that the useful resource on Amitsoq Island will enhance in each tonnes and classification following this 12 months’s programme to the extent that we hope to have the useful resource foundation to undertake an in depth feasibility research on the deposit. We’re additionally aware of the extra appreciable upside potential from the, but undrilled, Kalaaq deposit to the south of Amitsoq,” stated Adams.
GreenRoc IPO’d in September in London, after being spun out of Alba, which retains a 54% curiosity.
There may be vital curiosity in Greenland presently, given the success of Bluejay Mining (LON: JAY) and the very fact Jeff Bezos and Invoice Gates are backing minerals exploration in Greenland.
MINING.COM reported early in August that KoBold Metals, a start-up supported by Gates and Bezos, has partnered with Britain’s Bluejay Mining to probe for crucial supplies utilized in electrical automobiles in Greenland.
Regardless of being down virtually 41% over the previous 12-month timeframe, GreenRoc shares rose 1.74% on Tuesday to five.85p, whereas Alba shares are down one-third over the identical interval at 0.205p, giving every a respective market capitalization of £6.5 million ($8.52 million) and £14.73 million ($19.33 million).
