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GreenRoc nearly triples graphite resources at Amitsoq

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(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.

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