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Amitsoq Graphite Exploration Target Upgrade
Amitsoq Graphite Exploration Target Upgrade.
About this update from Greenroc Strategic Materials Plc
[{"type":"text","content":"\n \n \n To view the RNS with illustrative diagrams and maps, please use the following link:\n \n \n http://www.rns-pdf.londonstockexchange.com/rns/1907L_1-2022-5-11.pdf\n \n \n \n \n \n \n \n \n \n GreenRoc Mining Plc / EPIC: GROC / Market: AIM / Sector: Mining\n \n \n 12 May 2022\n \n \n \n GreenRoc Mining plc\n \n \n \n (\"GreenRoc\" or the \"Company\")\n \n \n \n \n \n \n \n \n Amitsoq Graphite Project Update\n \n \n \n \n Significant Tonnage Upgrade to Amitsoq Island Exploration Target\n \n \n \n \n \n \n \n \n \n \n \n \n \n GreenRoc Mining plc (AIM: GROC), a company focused on the development of critical mineral projects in Greenland, is delighted to announce a significant increase to the Exploration Target for the Amitsoq Island graphite deposit (the \"Amitsoq Island Deposit\" or the \"Deposit\") at the Amitsoq Graphite Project in southern Greenland (\"Amitsoq\" or the \"Project\"), one of the highest-grade graphite deposits in the world.\n \n \n \n \n \n \n \n \n Highlights\n \n \n \n ·\n Following the Maiden Resource estimate announced on 8 March 2022, the Exploration Target for the Amitsoq Island Deposit has now been updated.\n \n \n ·\n The Exploration Target[1] has increased from a tonnage range of 1.7 Mt-4.5 Mt at a grade range of 24-36% Graphitic Carbon ('Cg') (as announced by Alba Mineral Resources plc on 7 May 2021) to a tonnage range of 5-15 Mt at a grade range of 18-22% Cg.\n \n \n ·\n The Maiden Resource for the Amitsoq Island Deposit (announced by GreenRoc on 8 March 2022) defined a combined Indicated and Inferred JORC Resource of 8.28 million tonnes (Mt) at an average grade of 19.75% Cg, giving a total graphite content of 1.63 Mt.\n \n \n ·\n The Deposit is open along strike (predominantly to the north) and down dip to the west, and this will be tested in the Phase 2 drilling programme this year.\n \n \n ·\n There is additional considerable upside potential to come from the, as yet undrilled deposit, (the \"Kalaaq Deposit\") to the south of Amitsoq Island; a revised Exploration Target calculation is being undertaken for this deposit.\n \n \n ·\n Graphite is a core component of an Electric Vehicle (\"EV\") battery and this is driving graphite demand and prices, with UBS estimating a natural graphite deficit of 3.7Mt by 2030, representing circa 37% of the global market.\n \n \n ·\n Gre...