Alba Mineral Resources Share News (ALBA)

(Sharecast News) - Alba Mineral Resources announced the results of the independent test work programme undertaken on graphite material from its high-grade Amitsoq graphite project in southern Greenland on Tuesday, saying the work had confirmed that the graphite content of ore was "very high", among the highest found in flake graphite deposits globally.
The AIM-traded firm said the test work also demonstrated that a more-than-96% graphite concentrate could be produced, and that many of the inherent characteristics exhibited by Amitsoq graphite were positive.

As a result, subject to certain follow-up test work which was recommended, the work indicated the suitability of Amitsoq graphite as feed material for lithium-ion batteries - the fastest growing market for flake graphite globally.

It said a carbon content of 97% had been achieved by flotation, with the firm saying it was considered probable that for some fractions 98% carbon would be achievable by flotation.

The board said the test work showed Amitsoq graphite was "probably usable" in most applications.

Based on the results obtained so far, it said the recommendation for the final treatment of concentrate would be to screen and sell the at-least-150 micron material separately.

It would then use the remaining -150 micron material, making up about 85% of the total concentrate mass, for spherical graphite production.

The board said Amitsoq graphite concentrate's potential suitability for lithium-ion batteries was a "significant" finding, with the market for such batteries the fastest growing market for flake graphite, and "massive" growth rates forecast for demand for them in electric vehicles.

"The successful completion of this testwork phase is a timely affirmation of the potential of the Amitsoq Project and reinforces our aim to drill the deposit later this year," said executive chairman George Frangeskides.

"The testwork has confirmed that a high-grade saleable concentrate can be produced from Amitsoq graphite.

"With the input of recognised graphite experts ProGraphite, we now see a path opening up for Amitsoq graphite to be used in the dynamic and ever-expanding global electric vehicle sector."

At 1056 GMT, shares in Alba Mineral Resources were up 9.01% at 0.39p.