Alba Mineral Resources PLC - mineral exploration and development company with assets in Greenland and the UK - Independent testwork programme on material from Amitsoq graphite project in southern Greenland confirms "very high" graphite content of Amitsoq ore. Says content "amongst the highest found in flake graphite deposits globally". Testowkr demonstrated that more than 96% graphite concentrate can be produced, with many positive inherent characteristics to Amitsoq graphite.
Subject to recommended follow-up testwork, results so far indicate that Amitsoq graphite is suitable as feed material for lithium-ion batteries, which is "the fastest growing market for flake graphite globally", and indeed is "probably usable in most applications".
Flotation achieves 97% carbon content, and it is "probable" 98% carbon its achievable by flotation for some fractions, Alba says.
Executive Chair George Frangeskides: "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.
"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."
Current stock price: 0.39 pence; up 9.0% on Tuesday.
Year-to-date change: down 30%
By Anna Farley; annafarley@alliancenews.com
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Alba Mineral Resources (ALBA)