GreenRoc 2023 Amitsoq resource estimate three times larger than 2022

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(Alliance News) – GreenRoc Mining PLC on Monday said its 2023 mineral resource estimate for the Amitsoq Island deposit is nearly three times that of its 2022 estimate.

The London-based miner focused on mineral projects in Greenland said its MRE for 2023 was 23.1 million tonnes with 20.41% graphitic carbon, almost triple the company’s estimate of 2022 of 8.28 million tons at 19.75% of graphitic carbon.

The announcement, noted by GreenRoc’s 51% majority owner Alba Mineral Resources Plc, added that the 2023 MRE yields a total graphite content of 4.71 million tonnes, up from 1.63 million tonnes in the 2022 estimate. .

GreenRoc said the estimate confirms Amitsoq as one of the highest grade graphite deposits globally.

The company said that a third of MRE’s 2023 graphite content falls under the highest measured and indicated categories, which is “an important validation of the Project’s fundamentals as GreenRoc moves this year into the phase of development”.

CEO Stefan Bernstein said: “Delivering a resource update of this quantum and grade is a major achievement for GreenRoc and underpins our confidence that our Amitsoq project meets the fundamental requirements to become a mine .

“Furthermore, we believe we can accelerate development to help meet the critical demand for new, high-grade, conflict-free graphite sources and look forward to providing further updates to interested customers. and the offtake partners in due course.”

GreenRoc shares were down 0.4% trading at 5.18 pence per share on Monday morning in London, while Alba Minerals resources rose 7.5% to 0.13p each.

By Harvey Dorset, Alliance News reporter

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