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RNS Number : 4241R GreenRoc Mining PLC 06 July 2022
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GreenRoc Mining Plc / EPIC: GROC / Market: AIM / Sector: Mining
6 July 2022
GreenRoc Mining plc
("GreenRoc" or the "Company")
Operational Update
Field Work Programme at TBS and Drilling Commenced at Amitsoq
GreenRoc Mining Plc (AIM: GROC), a company focused on the development of
critical minerals projects in Greenland, is pleased to announce details of the
forthcoming summer/autumn field work programme at the Thule Black Sands
Ilmenite Project in north-west Greenland ("TBS" or the "Project"). The
Company can also confirm that the Phase 2 drilling campaign has commenced at
the Amitsoq Graphite Project in southern Greenland ("Amitsoq"), one of the
highest-grade graphite deposits in the world.
Key Points
· Summer/autumn field work programme due to commence at TBS Q3 2022
with the objective of fast-tracking TBS to mine development
· Environmental Impact Assessment ("EIA") consultants, BioApp
Greenland, to commence second year environmental baseline studies, providing
the foundation for the development of an EIA
· Social Impact Assessment ("SIA") workshops to begin, managed by
SIA consultants NIRAS A/S ('NIRAS')
· Assay results from the 249-hole 2021 drilling campaign at TBS are
expected in early August
· It is hoped that the independent Competent Person's revised
assessment of these drill results, which is expected to be completed by
September, will support an enlarged Mineral Resource Estimate ("MRE") to build
on the current Mineral Resource of 19Mt at 8.9% in-situ ilmenite
· International mining consultancy, SLR Consulting, has been
engaged to undertake preliminary studies on mining methods and processing
plant options for both TBS and Amitsoq
· The planned drilling programme has commenced at Amitsoq. It is
expected to take around 12 weeks, targeting an upgrade and increase of the
current Maiden JORC Resource of 8.28Mt at 19.75% Graphitic Carbon ("C(g)")
GreenRoc's CEO, Stefan Bernstein, commented:
"I am delighted to publish my first update to GreenRoc shareholders as the
Company's CEO and to join the Company at such a key point in its development.
"We are excited to be kicking off the field season at TBS. After completing
extensive drilling campaigns there in previous years, our focus for this field
season is on collecting the other datasets which will be essential to the
environmental and social impact assessments we have commissioned as part of
the process for obtaining an exploitation licence.
"After a long wait, we are also approaching the finalisation of the laboratory
testwork and revised resource assessment following last summer's drilling at
TBS. We look forward to announcing the outcome on that front as soon as
possible, which we are hopeful will lead to an upgraded mineral resource and
provide the foundation for feasibility studies.
"Fast tracking TBS and our other flagship project, Amitsoq, towards
development status is a key objective for the Company this year.
Accordingly, alongside the progress at TBS I am delighted to confirm that our
field team has now commenced phase two drilling at Amitsoq. Our objective by
the end of this summer is for Amitsoq to join TBS in having had the bulk of
exploration activities completed so that we can focus thereafter on completing
the regulatory and scoping studies which will enable exploitation licences to
be applied for at both assets."
Details
Having announced, in the Company's RNS of 4 April 2022, the appointment of
BioApp Greenland ("BioApp") to undertake an Environmental Impact Assessment
("EIA") and NIRAS A/S ("NIRAS") to undertake a Social Impact Assessment
("SIA") at TBS, GreenRoc is pleased to provide further details of the field
components of that forthcoming work.
GreenRoc has chartered a dedicated vessel for the coming field season, which
will act as both a means of transport to and from TBS and as the base camp for
the various field teams. The vessel is expected to arrive at TBS in the
second half of July.
EIA Update
BioApp, a Danish/Greenlandic-based contractor and environmental expert with
extensive operational experience in Greenland, will be responsible for
completing an EIA in compliance with the requirements of the Greenlandic
authorities. An EIA provides information on the possible impacts on the
environment of a mining development project and proposes actions to mitigate
impacts as far as practicable.
At least two years of environmental baseline studies are required to be
completed as part of an EIA. A first-year baseline study was carried out in
the TBS area in 2018. The second-year baseline study will be carried out this
summer. The fieldwork will be carried out by BioApp personnel with in-depth
knowledge of the Project and its environs, and an extensive track record of
environmental work acquired in the course of assisting on multiple projects in
Greenland. The team will be multidisciplinary, covering freshwater, marine and
terrestrial sampling.
Sampling will also include photo documentation of the seabed at the planned
port location and in the vicinity of marine site sampling locations.
Bergerhoff Gauges (which provide long term ambient dust data) will be deployed
in each of the three resource areas, the southern, central and northern zones
(see Figure 2), and a weather station will also be installed to provide
site-specific weather data for the area.
This work is expected to commence in early August.
SIA Update
NIRAS, a Danish/Greenlandic multi-disciplinary engineering consultancy with
extensive Greenland experience, has been appointed to undertake an SIA. The
objective of an SIA is to ensure that a mining development maximises its
benefits and minimises its potential negative impacts on society and local
communities.
Preparing and developing an SIA requires the collection and assessment of a
wide range of relevant data from various sources, including baseline data on
population and demographics, living and housing costs, nature and land use,
social problems, income, industry, labour market, infrastructure, health,
heritage, culture and language.
Collection of baseline data is made via desktop research, which will be
supplemented by the involvement of local, regional and national stakeholders
in Greenland. With the assistance of GreenRoc, NIRAS intends to run a series
of 3-4 local workshops in Greenland, the first of which is expected to take
place this autumn, with various stakeholders being invited to participate.
Archaeological Studies
GreenRoc has contracted the Greenlandic National Museum and Archives to
conduct an archaeological survey over TBS. Large areas of Greenland have not
yet been mapped with respect to their archaeological features and this survey,
which is expected to commence in late July, is a necessary element for the
EIA.
Mine Planning
The international mining consultancy, SLR Consulting, has been engaged to
undertake preliminary studies on mining methods and processing plant options
for both TBS and Amitsoq. These studies will feed directly into the EIA
process and will also provide the foundations for future Scoping Studies and
other technical development work.
MRE Assessment
Testwork results from the 2021 TBS drilling campaign are expected in early
August. Once available, the independent Competent Person, IHC Mining, will
be in a position to complete its revised assessment of the MRE for TBS, which
is expected by September.
Amitsoq Island Phase 2 Drilling
GreenRoc is pleased to confirm that Phase 2 drilling has now commenced at the
Amitsoq Island deposit. See the RNS dated 6 June 2022 for further details of
the drilling programme.
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.
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 https://greenrocmining.com/
(https://greenrocmining.com/) or 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
ETX Capital (Broker) +44 20 7392 1494
Tom Curran / Thomas Smith
St Brides Partners (Financial PR & IR) +44 20 7236 1177
Susie Geliher / Charlotte Page
About GreenRoc
GreenRoc Mining Plc is an AIM-quoted company which is developing mining
projects in Greenland in high-demand and high-value critical minerals.
Led by a group of highly experienced mining industry professionals with
considerable knowledge of the Greenlandic mining sector, GreenRoc has a
portfolio of 100% owned projects:
· Amitsoq Graphite, one of the highest-grade graphite deposits in
the world with a combined Indicated and Inferred JORC Resource of 8.28 million
tonnes (Mt) at an average grade of 19.75% giving a total graphite content of
1.63 Mt;
· Thule Black Sands Ilmenite ('TBS'), which has an initial Mineral
Resource of 19Mt@ 43.6% Total Heavy Minerals with an in-situ ilmenite grade of
8.9%;
· Melville Bay Iron, 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; and
· Inglefield Multi-Element, which has the potential to host a range
of mineralisation styles, including iron oxide-copper-gold.
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