REG - GreenRoc Mining PLC - Amitsoq Update

GreenRoc Strategic MaterialsAnnouncement

29/09/2023 07:00

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RNS Number : 0838O  GreenRoc Mining PLC  29 September 2023

GreenRoc Mining Plc / EPIC: GROC / Market: AIM / Sector: Mining

29 September 2023

GreenRoc Mining plc

("GreenRoc" or the "Company")

 

Amitsoq Update

 

GreenRoc Mining plc (AIM: GROC), a company focused on the development of
critical mineral projects in Greenland, is pleased to provide the following
update on its Amitsoq Graphite Project ("Amitsoq" or the "Project") in
southern Greenland.

 

Overview

·    Preliminary Economic Assessment ('PEA') on Amitsoq anticipated to be
published in October 2023.

·    PEA will enable GreenRoc to firm up a work programme for the coming
year focused on fast-tracking the Project towards development status.

·    Ongoing discussions with several potential off takers, with the
Company expecting to send new graphite concentrate samples to interested
parties in Q4 2023.

·  Joined the Danish Centre for Energy Storage ('DaCES') to collaborate with
Danish universities and companies in research, innovation, and export.

·    The Company is participating in key industry and investor events.

 

Details

The Company is finalising the PEA on its Amitsoq Graphite Project, which it
anticipates will be published in October 2023. The PEA, which is being
prepared by SLR Consulting, a leading UK-based mining consulting firm, will
provide an economic model intended to demonstrate the profitability of the
mining of graphite at Amitsoq and enable GreenRoc to firm up a work programme
for the coming year focused on advancing the Project towards development
status.

 

GreenRoc is progressing discussions with several potential international off
take parties, which have expressed interest in receiving sample material from
Amitsoq.  The Company expects to receive new graphite concentrate material in
Q4 2023 from a bulk sample which is being processed in Germany by UVR-FIA
GmbH, which will then be sent to interested parties.

 

GreenRoc has joined the Danish Centre for Energy Storage ('DaCES'), which is a
unique platform within the energy storage and conversion sector where Danish
universities and companies work closely together across the entire value chain
from research and innovation to industry and export. GreenRoc was pleased to
participate in the DaCES Annual Meeting on 14 September 2023 in Copenhagen,
where it met key players within the Danish energy storage industry and
research community.

 

Additionally, the Company is taking part in several other events.  On 2
October 2023, GreenRoc's CEO, Stefan Bernstein, will present at a
stakeholders' consultation meeting on 'EU - Greenland Strategic Partnership on
sustainable raw materials value chains', being hosted online by The European
Union and The Government of Greenland.  He will also be participating in a
focusIR/London South East Natural Resources live webinar on 3 October 2023
between 6pm and 8pm.  To watch the event, please register at
https://bit.ly/3EWu6hH (https://bit.ly/3EWu6hH) .

 

GreenRoc's CEO, Stefan Bernstein, commented:

 

"We look forward to publishing the PEA in October, only slightly behind our
originally planned schedule. The PEA will provide a detailed assessment of the
technical aspects and costs associated with the construction and operation of
our Amitsoq mine and processing plants and enable us to plan the next steps.

 

"We are also delighted with the growing interest in our product from potential
international off takers, driven by their recognition of the importance of
securing a future pipeline of non-Chinese graphite in a global market which is
being driven by phenomenal growth in demand from the EV battery sector.

 

"I look forward to speaking to investors on 3 October 2023, when I participate
in the focusIR/London South East Natural Resources live webinar."

 

**ENDS** 

 

For further information, please contact: 

   GreenRoc Mining plc                                        +44 20 3950 0724

   Stefan Bernstein, CEO 

  
   Cairn Financial Advisers LLP (Nomad)                       +44 20 7213 0880

   James Caithie / Sandy Jamieson / Louise O'Driscoll 

  
   SP Angel (Broker)                                          +44 20 3470 0500

   Ewan Leggat / Charlie Bouverat

   
   St Brides Partners Ltd (Financial PR & IR)                 +44 20 7236 1177

   Paul Dulieu / Isabel De Salis / Isabelle Morris            greenroc@stbridespartners.co.uk

  

 

About GreenRoc 

GreenRoc Mining plc is an AIM-quoted company which is developing mining
projects in Greenland in critical, high-demand and high-value minerals.

 

Led by a group of highly experienced mining industry professionals, GreenRoc
has a portfolio of 100% owned projects all of which have defined
Resources: 

 

·  Amitsoq Graphite Project, one of the highest-grade graphite deposits in
the world with a combined Measured, Indicated and Inferred JORC Resource of
23.05 million tonnes (Mt) at an average grade of 20.41% graphite, giving a
total graphite content of 4.71 Mt; 

·   Thule Black Sands Ilmenite Project ('TBS'), which has an initial
Mineral Resource of 19Mt at 43.6% Total Heavy Minerals with an in-situ
ilmenite grade of 8.9%; and 

·   Melville Bay Iron Project, which has a Mineral Resource Estimate of
67Mt at 31.4% iron and has been proven to be processable to a high-grade, 70%
concentrate with low impurities. 

 

 

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