TIDMGROC
RNS Number : 1465Q
GreenRoc Mining PLC
16 October 2023
GreenRoc Mining Plc / EPIC: GROC / Market: AIM / Sector:
Mining
16 October 2023
GreenRoc Mining plc
("GreenRoc" or the "Company")
Amitsoq Graphite Project Update
Grant of Exploration Licence Expansion
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 approved the
Company's application to enlarge its Mineral Exploration Licence
("MEL") 2013-06 which contains the Amitsoq graphite deposit.
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 : "We are pleased to
have been successful in enlarging this Mineral Exploration Licence
as it secures access to an area that will become important when we
develop infrastructure around the mining operation at Amitsoq.
Also, the additional area is prospective for high-grade graphite
deposits similar to those we are targeting at Amitsoq.
"I would like to thank the Greenlandic Mineral Resource
Administration for its swift processing of the application. We
received the Minister's approval just two weeks after signing the
licence documents and the whole licensing process took just three
months. This really illustrates how supportive the Government of
Greenland is towards the sustainable and responsible development of
its natural resource economy and that Greenland is a well-run,
well-regulated, mining friendly jurisdiction."
Details
The additional area lies immediately to the west of the existing
licence MEL 2013-06 which contains the Amitsoq deposit (see Figure
1). Before the licence extension, MEL 2013-06 covered an area of
48km(2) and, with the license expansion, has now increased to
72.52km(2) .
The licence application was submitted to the Greenlandic Mineral
Resource Administration on 3 July 2023, with all parties having
signed the licence document by 10 October 2023.
Figure 1: Original Licence MEL 2013-06 to the East and newly
added area to the west of Amitsoq mine. Nanortalik town is situated
about 20km to the southwest of Amitsoq.
The area added to MEL 2013-06 secures access to stretches of
land on the coast opposite the Amitsoq deposit which will be
important as GreenRoc progresses its development of the Amitsoq
graphite deposit towards production. It allows the Company to
consider the use of flat ground for infrastructure, including
buildings, storage, depot sites, and port facilities.
Additionally, a large portion of the rocks underlying the added
licence area consist of metamorphic rock complexes similar to those
that host the Amitsoq and Kalaaq graphite deposits and adjacent
graphite mineralisations (see RNS of 10 October, 2022) and are,
therefore, prospective for such deposits.
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 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
--------------------------------
SP Angel (Broker)
Ewan Leggat / Charlie Bouverat +44 20 3470 0500
--------------------------------
St Brides Partners Ltd (Financial PR & IR) +44 20 7236 1177
Paul Dulieu / Isabel De Salis / Isabelle Morris greenroc@stbridespartners.co.uk
--------------------------------
About GreenRoc
GreenRoc Mining plc is an AIM-quoted company which is developing
mining projects in Greenland in critical, high-demand and
high-value minerals.
About Amitsoq
Amitsoq is located i n the Nanortalik region of southern
Greenland and has been confirmed as one of the highest-grade flake
graphite projects in the world.
GreenRoc is focused on fast-tracking the development of Amitsoq
into a producing mine in the shortest possible timeframe to meet
critical demand from Electric Vehicle ('EV') manufacturers in
Europe and North America for new, high grade and conflict-free
sources of graphite.
Key points about Amitsoq:
-- GreenRoc's primary focus at Amitsoq is on developing the
Amitsoq Island Deposit, which has a total inferred, indicated and
measured JORC Resource of 23.05 million tonnes (Mt) at an average
grade of 20.41% Graphitic Carbon ("C(g)"), giving a total graphite
content of 4.71 Mt.
-- Deposits with compliant resources above 20% contained
graphite grade are scarce, with the average global grade of
graphite resources being just 8.45% (according to S&P
Global).
-- Independent micronisation and spheronisation test work has
proven that Amitsoq graphite can be easily upgraded to high-grade
anode-quality graphite, otherwise known as high purity spherical
graphite or cSPG, a key raw material in the manufacturing of
EVs.
-- In GreenRoc's test work programmes, Amitsoq spheronised
graphite has achieved higher than 99.95% purity with relatively
little energy input and processing and using the milder alkaline
purification method compared to the industry standard hydrofluoric
acid, boding well for future production costs and sustainability
commitments.
-- Significant further upside exists at Amitsoq as the Amitsoq
Island Deposit is open in at least two directions with potential
for considerable further expansion via the similarly high-grade
Kalaaq Mainland Deposit as well as a series of other high-grade
targets on GreenRoc's licence package.
-- The deposit was in small-scale production about 100 years
ago, and there remains considerable underground mine development in
place from that time, which will be of considerable benefit to
GreenRoc in the mine construction phase.
-- Following a detailed evaluation process, the European Raw
Materials Alliance has expressed its support of GreenRoc and its
Amitsoq graphite project, stating that "GreenRoc's graphite
resource is of global importance and, together with the Company's
strategy, will enable the European Union to achieve a certain level
of independence for the electrical vehicle supply chain. ERMA has
approved the Amitsoq Graphite project and will engage to support
its development and financing to produce these critical raw
materials for the benefit of the European Union goals." (see RNS
dated 8 February 2023).
-- On 9 October 2023, GreenRoc was awarded a grant of approximately GBP250,000 by the Automotive Transformation Fund in the UK to part-finance a feasibility study into the establishment of a graphite spheronisation processing plant in the UK to produce active anode material from graphite concentrate delivered from GreenRoc's Amitsoq Graphite Project.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDDZMMGFDLGFZM
(END) Dow Jones Newswires
October 16, 2023 02:00 ET (06:00 GMT)
Greenroc Strategic Mater... (LSE:GROC)
過去 株価チャート
から 11 2024 まで 12 2024
Greenroc Strategic Mater... (LSE:GROC)
過去 株価チャート
から 12 2023 まで 12 2024
