REG - Alba Mineral Resrcs. - GROC Update: New Graphite Occurrences at Amitsoq

Alba Mineral ResourcesAnnouncement

11/10/2022 07:16

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RNS Number : 4010C  Alba Mineral Resources PLC  11 October 2022

11 October 2022 

 

Alba Mineral Resources plc 

("Alba" or the "Company") 

 

GROC Update: New Graphite Occurrences at Amitsoq

 

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 Project Update

Significant Graphite Occurrences Identified Across Expanded Licence

 

GreenRoc Mining Plc (AIM: GROC), a company focused on the development of
critical minerals projects in Greenland, is pleased to provide the results
from a field exploration campaign, which was conducted in July 2022, alongside
the Phase 2 drill programme at its flagship Amitsoq Graphite Project in the
Nanortalik Region of South Greenland ('Amitsoq' or the 'Project').  Grab
samples were collected across the Project area, which was recently expanded
following the granting of exclusive Mineral Exploration Licence ("MEL")
2022-03 in July 2022, which extends the Company's exploration areas to the
north and south.

 

Key Points

 

·      Historic graphite occurrences have been confirmed in four new
zones of interest, broadly forming a north-south tract some 30km long.

 

·      The four zones comprise Nanortalik Island, Tusardluarnaq North
and Thomsen's Island, which sit within the southern portion of the newly
acquired MEL, and Amitsoq Valley Bed, which lies ~7km NE of the established
Amitsoq Island deposit.

 

·      On Nanortalik Island, graphitic grades of 23.4% C(g) to 32.5%
C(g) have been reported from eight samples over a strike length of ~800m and
the graphite bodies remain open along strike to the north and south.

 

·      At Amitsoq Valley Bed, a new 1km long zone of graphite-bearing
rocks with values up to 24.9% C(g) was identified.

 

·      These results have significantly expanded the potential for
multiple significant graphite discoveries outside the primary target zones of
the Amitsoq Island and Kalaaq Deposits.

 

GreenRoc's CEO, Stefan Bernstein, commented:

 

"The results of sampling from new and historic finds show the graphite
deposits within our licence areas to be extensive. We now have identified
high-grade graphite ore bodies, with grades in excess of 20% C(g), across our
Project, starting at Amitsoq Valley Bed in the north, running through Amitsoq
Island and Kalaaq, and extending as far south as Nanortalik Island, with
several lower grade graphite mineralisations in between. The distance between
Amitsoq Valley Bed and Nanortalik Island is some 30km, and we believe that we
are in the process of defining a graphite province which could well be of
global significance.

 

 

"These are exciting times at GreenRoc, as we are awaiting the assay results from our Phase 2 drilling at Amitsoq Island, following which there will be an updated and expected higher category resource for the Project, which should be ready in a couple of months' time.  With critical global demand for new supplies of graphite, this is an opportune time to be developing a project of Amitsoq's quality and potential magnitude."

Figure 1. Locations of the 18 grab samples taken during July 2022 from across
the expanded Amitsoq Licence

 

 

Details

 

During July 2022, field exploration was conducted in four main areas of
interest of the expanded Amitsoq Project licence package, to sample historic
graphite occurrences identified across the Nanortalik Region, and to explore
the wider area for graphite.

 

These areas have not been subject to modern exploration techniques and have
only been sampled sporadically in the past, offering potential upside to
consolidate these exploration targets and discover new graphite deposits in
the region. Exploration work consisted of field mapping and grab sampling.

 

Sampling was primarily focused on the recently granted MEL 2022-03 exploration
licence, but further sampling was also undertaken over Amitsoq Island and
Kalaaq, with the aim of expanding the existing exploration targets. A total of
18 grab samples were taken from four locations: Amitsoq Valley Bed (NE of the
Phase 2 drill programme), Thomsen's Island, Tusardluarnaq North, and
Nanortalik Island (Sissarissoq). The sample locations and assay results are
set out in Figure 1 and Table 1, respectively.

 

Table 1. 2022 results of sampling across the expanded Amitsoq licence

 Sample ID  Target Zone        Type  %C (g)  Sample ID  Target Zone         Type  %C(g)
 3501       Nanortalik Island  Grab  26.9    3506       Tusardluarnaq N     Grab  2.89
 3502       Nanortalik Island  Grab  24.9    3507       Tusardluarnaq N     Grab  5.81
 3503       Nanortalik Island  Grab  27.9    3508       Tusardluarnaq N     Grab  2.64
 3514       Nanortalik Island  Grab  31.2    3504       Thomsen's Island    Grab  2.02
 3515       Nanortalik Island  Grab  28.5    3509       Amitsoq Valley Bed  Grab  20.3
 3517       Nanortalik Island  Grab  32.5    3510       Amitsoq Valley Bed  Grab  6.42
 3518       Nanortalik Island  Grab  23.4    3511       Amitsoq Valley Bed  Grab  6.20
 3519       Nanortalik Island  Grab  29.6    3512       Amitsoq Valley Bed  Grab  13.5
 3505       Tusardluarnaq N    Grab  2.81    3513       Amitsoq Valley Bed  Grab  24.9

Figure 2. Location and Results of the samples taken in 2022 across Nanortalik
Island on the recently granted MEL 2022-03 licence.

 

 

Nanortalik Island (Sissarissoq)

 

Two occurrences have been reported historically on Nanortalik Island, 2.5km
southwest of Nanortalik town, within the expanded licence package. The
southern occurrence consists of two outcrops about 200m from the coast,
outcropping over a length of ~45m. Three samples were taken from the southern
occurrence. Sample 3503 was taken from a two-metre-thick graphite layer and
graded 27.9% C(g), exceeding historic graphite grades at this locality (Figure
2).

 

The northern occurrence is about 500-600m inland and six samples were taken
from this location with five samples exhibiting high graphitic carbon grades,
ranging from 23.4 to 32.5% C(g). The highest graphitic carbon grade was seen
in Sample 3517 (Figure 3). This sample comprises heavily oxidised, sheared
graphitic schist with high graphite content and abundant quartz-chlorite
veinlets. The graphite mineralisation on Nanortalik Island has been observed
along a strike length of ~800m between the southern and northern occurrences.

 

 

 

Figure 3. Sample 003517 from Nanortalik Island, (A) Grab sample 003517
collected in July 2022, comprising massive graphite and quartz-chlorite
veinlets. (B) Heavily oxidised and sheared graphitic schist outcrop hosting
Sample 003517

 

Graphite-bearing samples were also collected from Tusardluarnaq North and
Thomsen's Island. These results confirm the existence of historic graphite
occurrences in this region and further expand the portfolio of prospective
targets for further trenching and channel sampling.

 

Amitsoq Valley Bed

 

Prior to this field season, minimal exploration had been undertaken north of
the historic mine workings on Amitsoq Island. This year, a historic graphite
find ~7km NE of the Phase 2 drill programme on the eastern shoreline of
Amitsoq Island was investigated and found to be of significant extent. One
sample was collected from the historic find, and four samples were taken
following the discovery of graphite-bearing outcrops along a strike length of
~1km trending north along the shoreline. Sample 3513 was taken from a 2-3m
wide sheared zone with lenses of massive graphite, grading 24.9% C(g) (Figure
4). Other samples taken from these N-S trending, 2-3m thick graphite layers
vary from 6.20 - 20.3% C(g) (Table 1).

Figure 4. Location and Results of the samples taken in 2022 across Amitsoq
Valley Bed, 7km NE of historic Amitsoq mine workings.

 

 

Conclusion

 

These exploration results have identified four new target zones that have not
been subject to modern exploration techniques (Nanortalik Island, Amitsoq
Valley Bed, Tusardluarnaq North, and Thomsen's Island) (Figure 1) and, as
such, have expanded the potential for multiple significant graphite
discoveries outside the primary target zones of the Amitsoq Island and Kalaaq
Deposits.  This will be the subject of follow-up exploration work in future
field seasons.

 

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.

 

Glossary

 

C(g)% or Graphitic Carbon: Carbon may be present in rocks in various forms
including organic carbon, carbonates or graphitic carbon. Carbon in rocks may
be reported as fixed or total carbon (i.e. organic carbon + carbon in
carbonate minerals + carbon as graphite) or as graphitic carbon or total
graphitic carbon (or TGC) (i.e. total carbon - (organic + carbonate carbon)).
In this report, graphite results are indicated as graphitic carbon or % C(g).

 

Graphitic Schist: The metamorphic rock that hosts the graphite at Amitsoq and
Kalaaq.

 

Quartz-Chlorite Veinlets: 1-2mm thick veins which comprise the minerals quartz
and chlorite and are associated with fluid alteration.

 

Oxidised: the breakdown of rock by oxygen and water, often giving iron-rich
rocks a rusty-coloured weathered surface.

 

Sheared: shear is the response of a rock to deformation usually by compressive
stress and forms particular textures.

 

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.

 

Competent Person Declaration

 

The information in this release that relates to Exploration Results has been
reviewed by Mr Mark Austin. Mr Austin is a member of SACNASP (Reg. No.
400235/06), Fellow of The Geological Society and Fellow of the Geological
Society of South Africa. He has a B.Sc. Honours in Geology with 38 years'
experience.

 

Mark Austin has sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the activity
being undertaken to qualify as a Competent Person as defined in the 2012
Edition of the 'Australasian Code for Reporting of Exploration targets,
Exploration Results, Mineral Resources and Ore Reserves', also known as the
JORC Code. The JORC code is a national reporting organisation that is aligned
with CRIRSCO. Mr Austin consents to the inclusion in the announcement of the
matters based on his information in the form and context in which they appear.

 

 

**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 

 

ETX Capital (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% 

 

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