Make Kitco Your Homepage

Mining News

GreenRoc nearly triples graphite resources at Amitsoq

Vladimir Basov

Kitco News

Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2023.

(Kitco News) - GreenRoc Mining (AIM: GROC) today announced a “very substantial” increase to the mineral resource estimate at the Amitsoq graphite project in southern Greenland.

According to a company statement, the 2023 mineral resource estimate comprises a total inferred, indicated and measured JORC resource for the Amitsoq Island deposit 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.

The company said that the 2023 MRE represents a resource with almost three times the tonnage from the 2022 maiden resource estimate, with the contained graphite increasing by 3.08 Mt from the 2022 MRE, an increase of ca. 180%.

The company added that the 2023 MRE “cements” Amitsoq's position as one of the very highest-grade graphite deposits globally, with an average grade of 20.41% C(g) (up from 19.75% C(g)).

Importantly, GreenRoc said that the Amitsoq Island deposit remains open along strike (predominantly to the north) and down dip to the west, indicating the potential for further significant resource upgrades in the future.

“This substantially upgraded resource will underpin the feasibility studies GreenRoc will be carrying out this year as it moves towards a mining licence application for Amitsoq,” it said.

Alba Mineral Resources (AIM: ALBA) holds a 50.6% majority interest in GreenRoc, which aims to develop and fast-track its portfolio of high-grade critical minerals projects in Greenland, including its flagship project, the Amitsoq graphite project, into production.

Aris Mining produces 235 koz of gold in 2022, focuses on generating 'significant' cash flow in 2023
By Vladimir Basov

For Kitco News

Contact vbasov@kitco.com
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.