(Alliance News) - GreenRoc Mining PLC on Monday said returns from phase 2 drilling at the Amitsoq graphite project in southern Greenland were as good as those from phase 1.
"Visual inspection of the drill core suggests that the intersections are similar in ore grade to the phase 1 results, which returned grades of up to 23.01% graphitic carbon in the lower graphite layer and up to 19.83% graphitic carbon in the upper graphite layer," the miner focused mineral projects in Greenland said. Phase 1 drilling results at Amitsoq were announced in March.
"All holes have at least one mineable graphite layer intersection greater than 5.25 metres," it said.
As of August 14, nine holes have been completed for a total of 1,360 metres, the London-based company added. It expects the drilling programme to conclude in September.
London-based mineral exploration company Alba Mineral Resources PLC, which has a 54% stake in GreenRoc, noted the announcement.
GreenRoc shares were 4.3% higher at 4.90 pence each in London on Monday morning. Alba was up 7.2% at 0.18p.
By Tom Budszus; tombudszus@alliancenews.com
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