TIDMGROC
RNS Number : 2648H
GreenRoc Mining PLC
23 November 2022
GreenRoc Mining Plc / EPIC: GROC / Market: AIM / Sector:
Mining
23 November 2022
GreenRoc Mining plc
("GreenRoc" or the "Company")
Amitsoq Graphite Project Update
Including Appointment of Leading Graphite Adviser
GreenRoc Mining Plc (AIM: GROC), a company focused on the
development of critical minerals projects in Greenland, is pleased
to announce a number of key developments at its Amitsoq Graphite
Project in South Greenland ('Amitsoq' or the 'Project') as it
focuses on fast-tracking the development of the Project.
Amitsoq is one of the highest grade graphite deposits globally,
with a JORC resource of 8.28Mt ore at an average grade of 19.75%
graphite. It is anticipated that this will be significantly
upgraded in the coming weeks, following the highly successful
Summer 2022 drilling campaign.
Overview
-- Leading graphite expert ProGraphite GmbH ('ProGraphite') has
been appointed to act as adviser to GreenRoc on the technical and
commercial aspects of graphite processing, sales and marketing.
-- Process engineering specialist UVR-FIA GmbH ('UVR-FIA') in
Germany is to be appointed to complete test work on a c.700kg bulk
sample of graphite ore collected from the Amitsoq graphite
mine.
o Results are expected to help refine the best processing
techniques and develop and characterise saleable products for the
Electric Vehicle ('EV') battery market.
-- A set of drill core samples from the 2021 drilling campaign
has been sent to the Geological Survey of Denmark and Greenland
('GEUS') for detailed mineralogical and petrographical studies.
o Results expected to support processing plant design and feed
into the testwork carried out by UVR-FIA on the bulk sample.
-- These test results and studies will feed into a planned Scoping Study, which along with the Environmental and Social Impact Assessments ('EIA' and 'SIA') will form major parts of the 2023 work programme.
-- GreenRoc management is engaged in active discussions to
support future development at Amitsoq, and has concluded an initial
round of meetings with potential industry partners.
GreenRoc's CEO, Stefan Bernstein, commented:
"Amitsoq is shaping up to be a world-class graphite project. We
are absolutely focused on fast-tracking the development of the
asset to create a new, sustainable source of high quality graphite
that can support the rapidly growing EV battery market, where there
is critical supply demand. With this in mind, I am delighted to
announce that we have agreed with leading industry experts
ProGraphite, who have previously provided laboratory test work and
analytical services to us, to expand their remit to cover advice on
the commercial aspects relating to the processing, sale and
marketing of graphite. Their extensive industry experience and
network should prove invaluable as we look to refine our processing
techniques and identify commercial partners.
"We are also pleased to be progressing the detailed analytical
and processing programme for our Amitsoq graphite ore. The Board's
decision to appoint UVR-FIA for bulk sample processing and GEUS for
mineralogical work means that these important technical elements,
which will feed directly into the upcoming Scoping Study, will be
placed in the hands of leading experts in their respective fields.
The Scoping Study, EIA and SIA will be the focus of our 2023 work
programme and keep us on track to production.
"Earlier this month I had the pleasure of visiting the
Maastricht operations of Asbury Graphite and Carbons NL, a
top-ranking graphite supply company with its headquarters in the
US. The meeting was both inspiring and useful and provided a lot of
insight into the downstream graphite market. In recent weeks, we
have held a number of initial exploratory meetings with potential
customers, including with representatives of European car
manufacturers and gigafactories. I expect these meetings to
continue and intensify in the coming months as we seek the best
commercial partners for Amitsoq."
Details
Appointment of Leading Graphite Adviser
GreenRoc has signed an agreement with ProGraphite, Germany, to
advise the Company on the technical and commercial aspects of
graphite processing, sales and marketing, with a particular focus
on battery grade graphite products for the EV sector.
ProGraphite has more than 20 years of experience in the graphite
industry and, through its founder and CEO Christoph Frey
(Dipl.-Ing. M.Sc.), is a leading expert in the graphite sector,
providing a range of analytical, material research and consulting
services to the industry.
Decision on Bulk Sample Processing
As previously announced, the 2022 field campaign at Amitsoq
included the collection of a ca 700kg bulk sample from the
underground workings of the historic Amitsoq mine, which was in
operation between 1914 to 1922. The GreenRoc Board has now decided
to award the contract for the processing of the bulk sample to
process engineering specialists UVR-FIA in Freiberg, Germany. The
aims of the processing exercise will be two-fold: firstly, to
further constrain the parameters for the optimal processing of
Amitsoq graphite ore, which will be important for the upcoming
Scoping Study, and secondly, to supply graphite concentrate in
sufficient quantities to enable GreenRoc to conduct further
advanced testwork for the production of spherical graphite - the
material used in the manufacturing of anodes for EV batteries - and
to provide samples of that graphite concentrate to potential
customers and commercial partners. The results from the processing
exercise are expected to be available by Q2, 2023
Mineralogical Studies for Processing Plant Design
A set of drill core samples from the 2021 drilling campaign has
been sent to GEUS in Copenhagen, Denmark, for detailed
mineralogical and petrographical studies. These results will in
turn provide important information to support the design of the
processing plant for Amitsoq, an important aspect of the upcoming
Scoping Study, and will also feed into the bulk sample testwork to
be carried out by UVR-FIA.
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
OvalX (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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