REG - Alba Mineral Resrcs. - GROC Update - Project Updates

Alba Mineral ResourcesAnnouncement

20/01/2023 07:00

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RNS Number : 3340N  Alba Mineral Resources PLC  20 January 2023

Alba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector: Mining

 

20 January 2023

Alba Mineral Resources Plc

("Alba" or the "Company") 

 

GROC Update

Amitsoq Purification Tests Achieve 99.97% Purity &

Successful Meetings Held in Greenland

 

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 50.6% majority interest in GreenRoc.

 

Alba's Executive Chairman, George Frangeskides, commented: "These latest
developments from Amitsoq are very positive; not just in terms of the success
of the purification test work, which has not only met but exceeded the 99.95%
minimum purity level required for EV batteries, but also the clear indication
from Stefan's meetings in Greenland of the existence of a groundswell of
support from the key stakeholders at both the national and the local level for
our plans to establish a graphite mine in southern Greenland."

 

The GreenRoc announcement is set out below without material changes.

 

GreenRoc Mining Plc

("GreenRoc" or the "Company")

 

Project Updates

Amitsoq Purification Tests Achieve 99.97% Purity &

Successful Meetings Held with Community and Minister for Mineral Resources

 

GreenRoc Mining Plc (AIM: GROC), a company focused on the development of
critical minerals projects in Greenland, is pleased to announce the results of
purification test work carried out by GreenRoc's technical consultants,
ProGraphite GmbH ('ProGraphite') on spheronised graphite produced from an
Amitsoq graphite sample. The test work achieved purity of 99.97% using
alkaline purification, which exceeds the purity required to produce
spheronised graphite used in the manufacturing of anodes for electric vehicle
("EV") batteries.

 

The Company also reports that a series of positive and successful meetings
have taken place in Greenland this week between CEO Stefan Bernstein and
various project stakeholders including the local community at Amitsoq, the
Minister for Mineral Resources and Justice and the newly established
Government body, NunaGreen, which is leading the transition to carbon-neutral
energy in Greenland.

 

Finally, GreenRoc provides a brief update on the status of Thule Black Sands
("TBS") test work and resource assessment.

 

Key Points

·     A graphite sample from the Lower Graphite Layer ("LGL"),
successfully spheronised last autumn, was subjected to purification tests
using sodium hydroxide and reached a purity of 99.97%.

·     Amitsoq graphite thereby surpasses the 99.95% purity required for
spheronised graphite used in the manufacture of anodes for EV batteries.

·   An information meeting in Nanortalik between the local community,
GreenRoc's CEO, Stefan Bernstein, and Niras, (the Company's specialist
sustainability consultant), in preparation of the Amitsog Social Impact
Assessment ("SIA"). Meetings were also held with other local stakeholders,
including industry representatives, the trade union, hunters' organisation and
representatives from the Municipality of Kujalleq.

·   GreenRoc's CEO, Stefan Bernstein, met in Nuuk with Aqqaluaq B. Egede,
Minister for Mineral Resources and Justice and Permanent Secretary Jørgen
Hammeken-Holm. The Minister expressed strong support for the Greenland mineral
exploration industry in general and specifically for the Amitsoq Graphite
Project.

·    GreenRoc's CEO, Stefan Bernstein, also met with representatives of
the new Government body NunaGreen to discuss carbon-neutral energy sources to
meet the energy needs for commercial operations at Amitsoq.

·     Coarser grain fraction (> 1mm) from TBS drill samples to be
tested for ilmenite content prior to finalisation of assays and resource
assessment. The material larger than 1mm was initially discarded from the
analytical work, though potentially containing appreciable amounts of
ilmenite.

 

GreenRoc's CEO, Stefan Bernstein, commented:

"This confirmation that our spheronised graphite, produced from concentrate
from the Lower Graphite Layer at the Amitsoq Island deposit, can be purified
to an exceptional 99.97% purity using a preferred alkaline purification route
is a very significant milestone for our flagship project. It demonstrates that
our graphite is suitable for processing into anode-grade spherical graphite, a
key raw material in the manufacturing of batteries for electric vehicles.

 

"This week I held a series of very constructive meetings in southern Greenland
with key Community and Government stakeholders in our Amitsoq Project. I was
greatly encouraged by what I felt to be the overwhelmingly positive engagement
I was met with, concerning the Amitsoq project.  I have high expectations
that our Amitsoq project can bring real value to Nanortalik and the
Municipality of Kujalleq and I very much look forward to working with all
stakeholders over the coming years as we plan the mine reopening, and
thereafter."

 

Details

Successful Purification Test Results

After the successful micronisation and spheronisation test work conducted on
LGL graphite material in the autumn of 2022, which was announced on 8 November
2022, the next step was to assess whether that spheronised graphite could be
purified to at least 99.95%, that being the requirement for anode-grade
material.

 

Purification test work had previously been carried out by ProGraphite in 2021,
where they ran a series of tests on graphite concentrates and found that a
high degree of purification could be reached using hydrofluoric acid, which is
the standard method for purification. Because of the toxicity of hydrofluoric
acid, ProGraphite also conducted purification tests using sodium hydroxide (an
alkali) and found that the required purity could also be achieved with this
agent.

 

These tests were repeated recently by ProGraphite on spheronised graphite
material produced from LGL drill core. Several tests were conducted, and it
was found that a leaching at a relatively low temperature of 250°C resulted
in a purified graphite product containing 99.97% graphite. Levels of unwanted
elements such as Fe, Cu and Cr were all at very low levels of 15.4ppm, 0.8ppm
and 0.2ppm respectively.

 

Meetings in Nanortalik

On 17 January 2023, GreenRoc CEO Stefan Bernstein held an information meeting
at the Culture House in Nanortalik, South Greenland. Nanortalik is the town
closest to Amitsoq, lying only 20km to the south. Specialist consulting firm
Niras, which is conducting the Social Impact Assessment for the Company, was
represented by Director Gertrud Øllgaard. Stefan Bernstein gave an overview
at the meeting of GreenRoc's activities in 2022 and its plans for Amitsoq in
the light of the positive outlook both for the graphite deposit at Amitsoq and
the growing global graphite market. There was considerable interest in the
Project and many pertinent questions asked, mainly relating to job prospects
whether in the development, construction or production phases of the Project.

 

Meetings were also held with representatives of the Municipality of Kujalleq
responsible for youth, recreational and sports activities in Nanortalik, as
well as with representatives from the local fishing/hunters' organisation
(KNAPP), the workers' union (SIP) and with several private service industries.
Important viewpoints relating to future mining activity at Amitsoq were
expressed and discussed.

 

Presentation and discussions of the Amitsoq project with Nanortalik community.

 

Meeting with Ministry of Mineral Resources and Justice

On 16 January 2023, CEO Stefan Bernstein met in Nuuk with Minister for Mineral
Resources and Justice, Aqqaluaq B. Egede and Permanent Secretary for same
ministry, Jørgen Hammeken-Holm. During a very positive discussion, GreenRoc's
CEO presented the Company's plans for advancing the Amitsoq graphite project
to production and the Minister in turn expressed his views on how the mineral
industry could contribute in a positive way to the development of the towns
and villages in South Greenland. The Minister stressed that the
Naalakkersuisut (Government of Greenland) has a positive attitude towards the
exploration and mining industry in general and he expressed strong support
specifically to the Amitsoq graphite project. The important subject of
renewable energy sources to supply both the mines and the towns in South
Greenland was also discussed.

This latter issue was also discussed during a meeting the same day with
NunaGreen, which is a newly established Governmental body which seeks to help
Greenland transition away from the use of fossil fuels and instead to exploit
the country's formidable hydropower potential in order to underpin Power-to-X
plants and possible other energy-intensive plants - some of which could well
be in the mineral sector. Other options presented were a combination of
smaller hydropower plants supplemented with wind turbines and tidal-water
turbines, all of which could be exciting solutions delivering a CO(2)-neutral
mining operation at Amitsoq.

 

Meeting in Nuuk between Minister for Mineral Resources and Justice, Aqqaluaq B Egede and GreenRoc's CEO Stefan Bernstein.

 

Re-analysis of Thule Black Sands ("TBS") samples

As announced on 26 September 2022, the drill results from the TBS Ilmenite
Project were delayed due to the requirement for additional analytical work to
be carried out. An upper screening of 1.0mm had initially been employed, which
excluded a significant mass of potentially ilmenite-bearing material, the
ilmenite being locked up in a dolerite matrix.  This locked-up ilmenite will
accordingly be subjected to a grinding, attritioning and a separation test
work programme to determine whether it is recoverable to produce and in what
grade and quality.  This work is anticipated to commence by the end of
January 2023, with results to be delivered approximately 6-8 weeks after
commencement.

 

Following the completion of this next round of test work, the Company will be
in a position to report final assay results from the drill programme and then
proceed with the finalisation of a revised resource assessment for TBS.

 

Ilmenite is an iron-titanium oxide mineral and is the primary feedstock for
the production of titanium metal and titanium dioxide, a widely used pigment.

 

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.

 

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.

 

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.

 

About ProGraphite

ProGraphite GmbH is a specialist consultancy laboratory based in Germany and
has served the carbon and graphite industry for more than 20 years.
ProGraphite provides in-house testing capacity over a wide range of carbon and
graphite products and is an industry-leading expert.

 

**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  50.6%
 Horse Hill (oil)                   England    11.765%

 

 

 

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