REG - Alba Mineral Resrcs. - GROC Update: Amitsoq Graphite Project Update

Alba Mineral ResourcesAnnouncement

23/11/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221123:nRSW2665Ha&default-theme=true

RNS Number : 2665H  Alba Mineral Resources PLC  23 November 2022

Alba Mineral Resources plc   

("Alba" or the "Company") 

GROC Update

 Amitsoq Graphite Project Update

Including Appointment of Leading Graphite Adviser

 

Alba Mineral Resources plc (AIM: ALBA) is pleased to note the announcement
today by its portfolio company, GreenRoc Mining Plc ("GreenRoc") (AIM: GROC).
Alba holds a 54% majority interest in GreenRoc. The announcement is set out
below without material changes.

 

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 www.albamineralresources.com
(http://www.albamineralresources.com/)  or contact:  

 

Alba Mineral Resources plc  

George Frangeskides, Executive Chairman                   +44 20 3950
0725 

 

SPARK Advisory Partners Limited (Nomad)   

Andrew Emmott 
                      +44 20 3368 3555

 

OvalX (Broker)  

Thomas Smith
                        +44 20 7392 1494

 

St Brides Partners (Financial PR)  

Isabel de Salis / Catherine Leftley  alba@stbridespartners.co.uk 

 

Alba's Projects and Investments  

 

 Mining Projects Operated by Alba        Location        Ownership  
 Clogau (gold)                           Wales           100%  
 Dolgellau Gold Exploration (gold)       Wales           100%  
 Gwynfynydd (gold)                       Wales           100%  
 Limerick (zinc-lead)                    Ireland         100%  
 Investments Held by Alba                Location        Ownership  
 GreenRoc Mining Plc (mining)            Greenland       54%  
 Horse Hill (oil)                        England         11.765%  

 

 

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDBRBDBLGDDGDD