TIDMALBA
RNS Number : 4334R
Alba Mineral Resources PLC
06 July 2022
06 July 2022
Alba Mineral Resources plc
("Alba" or the "Company")
Investee Company Update: GreenRoc Mining plc
Alba Mineral Resources plc (AIM: ALBA) is pleased to note the
announcement today by its portfolio company, GreenRoc Mining plc
("GreenRoc") (AIM: GROC). Alba holds a 54% majority interest in
GreenRoc. The announcement is set out below without material
changes.
To view the RNS with illustrative diagrams and maps, please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/4334R_1-2022-7-5.pdf
GreenRoc Mining plc
("GreenRoc" or the "Company")
Operational Update
Field Work Programme at TBS and Drilling Commenced at
Amitsoq
GreenRoc Mining Plc (AIM: GROC), a company focused on the
development of critical minerals projects in Greenland, is pleased
to announce details of the forthcoming summer/autumn field work
programme at the Thule Black Sands Ilmenite Project in north-west
Greenland ("TBS" or the "Project"). The Company can also confirm
that the Phase 2 drilling campaign has commenced at the Amitsoq
Graphite Project in southern Greenland ("Amitsoq"), one of the
highest-grade graphite deposits in the world.
Key Points
-- Summer/autumn field work programme due to commence at TBS Q3
2022 with the objective of fast-tracking TBS to mine
development
-- Environmental Impact Assessment ("EIA") consultants, BioApp
Greenland, to commence second year environmental baseline studies,
providing the foundation for the development of an EIA
-- Social Impact Assessment ("SIA") workshops to begin, managed
by SIA consultants NIRAS A/S ('NIRAS')
-- Assay results from the 249-hole 2021 drilling campaign at TBS are expected in early August
-- It is hoped that the independent Competent Person's revised
assessment of these drill results, which is expected to be
completed by September, will support an enlarged Mineral Resource
Estimate ("MRE") to build on the current Mineral Resource of 19Mt
at 8.9% in-situ ilmenite
-- International mining consultancy, SLR Consulting, has been
engaged to undertake preliminary studies on mining methods and
processing plant options for both TBS and Amitsoq
-- The planned drilling programme has commenced at Amitsoq. It
is expected to take around 12 weeks, targeting an upgrade and
increase of the current Maiden JORC Resource of 8.28Mt at 19.75%
Graphitic Carbon ("C(g)")
GreenRoc's CEO, Stefan Bernstein, commented:
"I am delighted to publish my first update to GreenRoc
shareholders as the Company's CEO and to join the Company at such a
key point in its development.
"We are excited to be kicking off the field season at TBS. After
completing extensive drilling campaigns there in previous years,
our focus for this field season is on collecting the other datasets
which will be essential to the environmental and social impact
assessments we have commissioned as part of the process for
obtaining an exploitation licence.
"After a long wait, we are also approaching the finalisation of
the laboratory testwork and revised resource assessment following
last summer's drilling at TBS. We look forward to announcing the
outcome on that front as soon as possible, which we are hopeful
will lead to a n upgraded mineral resource and provide the
foundation for feasibility studies.
"Fast tracking TBS and our other flagship project, Amitsoq,
towards development status is a key objective for the Company this
year. Accordingly, alongside the progress at TBS I am delighted to
confirm that our field team has now commenced phase two drilling at
Amitsoq. Our objective by the end of this summer is for Amitsoq to
join TBS in having had the bulk of exploration activities completed
so that we can focus thereafter on completing the regulatory and
scoping studies which will enable exploitation licences to be
applied for at both assets."
Details
Having announced, in the Company's RNS of 4 April 2022, the
appointment of BioApp Greenland ("BioApp") to undertake an
Environmental Impact Assessment ("EIA") and NIRAS A/S ("NIRAS") to
undertake a Social Impact Assessment ("SIA") at TBS, GreenRoc is
pleased to provide further details of the field components of that
forthcoming work.
GreenRoc has chartered a dedicated vessel for the coming field
season, which will act as both a means of transport to and from TBS
and as the base camp for the various field teams. The vessel is
expected to arrive at TBS in the second half of July.
Figure 1: Location map, TBS licence shown in red.
EIA Update
BioApp, a Danish/Greenlandic-based contractor and environmental
expert with extensive operational experience in Greenland, will be
responsible for completing an EIA in compliance with the
requirements of the Greenlandic authorities. An EIA provides
information on the possible impacts on the environment of a mining
development project and proposes actions to mitigate impacts as far
as practicable.
At least two years of environmental baseline studies are
required to be completed as part of an EIA. A first-year baseline
study was carried out in the TBS area in 2018. The second-year
baseline study will be carried out this summer. The fieldwork will
be carried out by BioApp personnel with in-depth knowledge of the
Project and its environs, and an extensive track record of
environmental work acquired in the course of assisting on multiple
projects in Greenland. The team will be multidisciplinary, covering
freshwater, marine and terrestrial sampling.
Sampling will also include photo documentation of the seabed at
the planned port location and in the vicinity of marine site
sampling locations. Bergerhoff Gauges (which provide long term
ambient dust data) will be deployed in each of the three resource
areas, the southern, central and northern zones (see Figure 2), and
a weather station will also be installed to provide site-specific
weather data for the area.
This work is expected to commence in early August.
Figure 2: TBS resource areas: northern (green), central (blue),
southern (orange, yellow and red).
SIA Update
NIRAS, a Danish/Greenlandic multi-disciplinary engineering
consultancy with extensive Greenland experience, has been appointed
to undertake an SIA. The objective of an SIA is to ensure that a
mining development maximises its benefits and minimises its
potential negative impacts on society and local communities.
Preparing and developing an SIA requires the collection and
assessment of a wide range of relevant data from various sources,
including baseline data on population and demographics, living and
housing costs, nature and land use, social problems, income,
industry, labour market, infrastructure, health, heritage, culture
and language.
Collection of baseline data is made via desktop research, which
will be supplemented by the involvement of local, regional and
national stakeholders in Greenland. With the assistance of
GreenRoc, NIRAS intends to run a series of 3-4 local workshops in
Greenland, the first of which is expected to take place this
autumn, with various stakeholders being invited to participate.
Archaeological Studies
GreenRoc has contracted the Greenlandic National Museum and
Archives to conduct an archaeological survey over TBS. Large areas
of Greenland have not yet been mapped with respect to their
archaeological features and this survey, which is expected to
commence in late July, is a necessary element for the EIA.
Mine Planning
The international mining consultancy, SLR Consulting, has been
engaged to undertake preliminary studies on mining methods and
processing plant options for both TBS and Amitsoq. These studies
will feed directly into the EIA process and will also provide the
foundations for future Scoping Studies and other technical
development work.
MRE Assessment
Testwork results from the 2021 TBS drilling campaign are
expected in early August. Once available, the independent Competent
Person, IHC Mining, will be in a position to complete its revised
assessment of the MRE for TBS, which is expected by September.
Amitsoq Island Phase 2 Drilling
GreenRoc is pleased to confirm that Phase 2 drilling has now
commenced at the Amitsoq Island deposit. See the RNS dated 6 June
2022 for further details of the drilling programme.
Figure 3: Phase 2 drilling at Amitsoq Island, July 2022.
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
Forward Looking Statements
This announcement contains forward-looking statements relating
to expected or anticipated future events and anticipated results
that are forward-looking in nature and, as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, competition for qualified staff, the
regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political
jurisdiction, uncertainties regarding the results of exploration,
uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the timing and granting of
regulatory and other third party consents and approvals,
uncertainties regarding the Company's or any third party's ability
to execute and implement future plans, and the occurrence of
unexpected events.
Actual results achieved may vary from the information provided
herein as a result of numerous known and unknown risks and
uncertainties and other factors.
**S**
For further information, please visit
www.albamineralresources.com or contact:
Alba Mineral Resources plc
George Frangeskides, Executive Chairman +44 20 3950 0725
SPARK Advisory Partners Limited (Nomad)
Andrew Emmott +44 20 3368 3555
ETX Capital (Broker)
Thomas Smith +44 20 7392 1494
St Brides Partners (Financial PR)
Isabel de Salis / Catherine Leftley
alba@stbridespartners.co.uk
Alba's Projects and Investments
Mining Projects Operated Location Ownership
by Alba
Clogau (gold) Wales 90%
---------- ---------
Dolgellau Gold Exploration
(gold) Wales 90-100%
---------- ---------
Gwynfynydd (gold) Wales 100%
---------- ---------
Limerick (zinc-lead) Ireland 100%
---------- ---------
Investments Held by Alba Location Ownership
---------- ---------
GreenRoc Mining Plc (mining) Greenland 54%
---------- ---------
Horse Hill (oil) England 11.765%
---------- ---------
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