TIDMGROC
RNS Number : 7682R
GreenRoc Mining PLC
08 July 2022
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GreenRoc Mining Plc / EPIC: GROC / Market: AIM / Sector:
Mining
8 July 2022
GreenRoc Mining plc
("GreenRoc" or the "Company")
Amitsoq Graphite Project Update
Grant of Additional Exploration Licence
GreenRoc Mining Plc (AIM: GROC), a company focused on the
development of critical minerals projects in Greenland, is pleased
to announce that the Government of Greenland has granted exclusive
Mineral Exploration Licence ("MEL") 2022-03 to the Company. The
granted licence area encompasses a potential southerly extension to
the Kalaaq deposit as well as several known graphite showings which
are separate from both the Amitsoq Island and Kalaaq deposits.
GreenRoc's Amitsoq Graphite Project in southern Greenland
("Amitsoq") is one of the highest-grade graphite projects in the
world.
Stefan Bernstein, GreenRoc's CEO, commented : "The grant of this
licence allows us to consolidate our landholding around the Kalaaq
deposit, including the area immediately south of the known Kalaaq
graphite discovery, in addition to securing new zones which contain
graphite-rich showings. These areas have not been subject to modern
exploration techniques and only a few have been sporadically
sampled in the past. As such, they offer GreenRoc the potential to
reveal new graphite discoveries contiguous to Amitsoq, proven to be
one of the highest-grade graphite projects in the world.
"With this additional ground now included in GreenRoc's new
Exploration Licence, the team and I are excited about the future
potential for identifying an additional mineralised graphite zone
outside the primary target zones to the south of the Kalaaq
Deposit. In my view, this provides further evidence that the
Amitsoq Project has the potential to be one of the most
strategically valuable graphite assets globally.
We look forward to providing further news flow from Amitsoq
during this summer as we seek an upgrade and increase of the
existing Mineral Resource there."
Details
The new exploration licence, MEL 2022-03 (Figure 1), covers a
total of 68km(2) and extends the current exploration licence areas
held by GreenRoc to encompass both the ground in the most northerly
section of Amitsoq Island as well as ground to the south of the
Kalaaq graphite discovery. The southern portion of the new licence
area includes several known graphite showings and one old graphite
working, Sissarissoq, and is within the vicinity of the town of
Nanortalik, Greenland's southernmost town.
NDZ and NHP Target Zones
As detailed in the RNS of 9 November 2021, a potential new area,
termed the New Domain Zone ('NDZ'), with a grab sample grade of
32.1 C(g)%, was identified in the Company's 2021 field work, 1km to
the south-east of the current Exploration Target Boundary (see
Figure 2) and a further 540m along strike from the graphite horizon
mapped during the 2017 campaign.
Further, the NHP Zone (see Figure 2) is a new discovery which
was identified during the 2021 field programme. It extends the
graphite mineralisation for a strike distance of 1.3km southwards
and thus expands the previously reported exploration target zone.
The NHP Zone is exposed over an area 50m wide and 200m long. The
4-metre horizon which was trenched and sampled graded 17.43 C(g)%.
The NHP Zone is a primary target for further trenching and channel
sampling during the 2022 field season.
Both the NDZ and NHP targets indicate the potential for
additional mineralised graphite zones outside the primary target
zones to the south of the Kalaaq Deposit. The ground south of the
NDZ and NHP Zones is now fully encompassed within MEL 2022-03.
Nanortalik Island (Sissarissoq) Prospects
Two occurrences have been reported historically, approximately
200m apart, on Nanortalik Island 2.5km southwest of Nanortalik town
(see Figure 3). The southern occurrence consists of two outcrops
about 100 m from the coast. Historical trenching and sampling here
recorded 280m(2) of mapped exposure, with less than 0.5m of
overburden and a 1.5m thick band outcropping for 30m. A single
analysed sample graded 24% graphite.
The northern occurrence is about 200-300m inland and is reported
to host four types of graphite: breccia type; disseminated graphite
in sulphide-rich schist; conglomerate with clasts of granite and a
graphite-rich matrix of iron-oxides massive and amorphous graphite
with fractured zones. Testwork and petrological assessment of five
samples from this occurrence are reported to have returned 11-17%
graphite.
With this new exploration licence, GreenRoc has expanded its
landholding to encompass several, largely untested graphite
occurrences which have been shown by earlier studies to contain
high-grade graphite ore. As part of the Company's 2022 field
campaign, a number of these occurrences will be sampled and studied
to test their graphite quality and determine the potential size of
the deposits.
As announced in the RNS dated 6 July 2022, GreenRoc has
commenced its drilling programme at the Amitsoq Island deposit with
the aim of further defining and significantly expanding the
graphite resource there.
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.
**ENDS**
For further information, please visit
https://greenrocmining.com/ or contact:
GreenRoc Mining Plc
Stefan Bernstein, CEO +44 20 3950 0724
Cairn Financial Advisers LLP (NOMAD)
James Caithie / Sandy Jamieson /
Louise O'Driscoll +44 20 7213 0880
ETX Capital (Broker)
Tom Curran / Thomas Smith +44 20 7392 1494
St Brides Partners (Financial PR
& IR)
Susie Geliher / Charlotte Page +44 20 7236 1177
About GreenRoc
GreenRoc Mining Plc is an AIM-quoted company which is developing
mining projects in Greenland in high-demand and high-value critical
minerals.
Led by a group of highly experienced mining industry
professionals with considerable knowledge of the Greenlandic mining
sector, GreenRoc has a portfolio of 100% owned projects:
-- Amitsoq Graphite , one of the highest-grade graphite deposits
in the world with 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 1.63 Mt;
-- Thule Black Sands Ilmenite ('TBS'), which has an initial
Mineral Resource of 19Mt@ 43.6% Total Heavy Minerals with an
in-situ ilmenite grade of 8.9%;
-- Melville Bay Iron , which has a Mineral Resource Estimate of
67Mt at 31.4% iron and has been proven to be processable to a
high-grade, 70% concentrate with low impurities; and
-- Inglefield Multi-Element , which has the potential to host a
range of mineralisation styles, including iron
oxide-copper-gold.
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