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(Sharecast News) - Alba Mineral Resources updated the market on its portfolio company GreenRoc Mining on Friday, in which it holds a 54% majority interest.
The AIM-traded firm said that, following the completion of the drilling programme at the Amitsoq Graphite Project in southern Greenland in August, GreenRoc had reported "strong" assay results from that drilling, as well as from an associated channel sampling programme.
It said the results confirmed Amitsoq as "one of the highest-grade" graphite projects globally.
"These exciting results from GreenRoc's drilling and sampling programme at the Amitsoq Graphite Project further confirm the consistently high-grade nature of the deposit, the significant widths of the graphite layers and, therefore, the potential for a sizeable JORC resource," said executive chairman George Frangeskides.
"Given graphite's expanding role in many green energy solutions, we look forward to the step-out drilling programme next year as GreenRoc progresses along the path to becoming a supplier of this highly sought-after critical mineral."
At 1110 GMT, shares in Alba Mineral Resources were down 0.13% at 0.16p.
5 Jul 2023 11:23
IN BRIEF: Alba Mineral raises GBP750,000 through placing
Alba Minerals PLC - Northern Europe-focused mineral explorer - Raises GBP750,000 through the issue of 600 million shares at a price of 0.125 pence per share. The company is putting in place a broker option allowing subscriptions of up to GBP100,000 in total on the same terms and conditions of the placing with priority to existing shareholders. Alba Mineral says this following its announcement on Tuesday that it had0 received an ecological grant allowing it to dewater and explore its primary gold target at Clogau St David's gold mine in Wales.
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