RE: RNS14 Nov 2022 07:03
GreenRoc's CEO, Stefan Bernstein, commented:
"This first batch of assay results from our Phase Two drill core confirms the continued high graphite content within the Amitsoq ore. To return grades of just under 20% graphite across the UGL and consistently in excess of 20% across the thicker LGL is truly remarkable and continues to showcase Amitsoq as a world-class asset with significant commercial potential. A particular standout result is hole AM_DD_017A, which returned a grade of 23.45% graphite over an intersection of 15.46m, corresponding to 11.84m of true thickness. This is particularly significant as this hole is located to the south-west of the drilled area, and the deposit remains open towards the south, west and north, giving us strong confidence of further upside potential.
"Based on the quality of the results we continue to receive from Amitsoq, we are naturally firmly focused on advancing the asset to development status. In support of this we are delighted to have signed a contract with Niras to undertake the SIA at Amitsoq. The Niras team has extensive experience in Greenland and has conducted several such assessments before. With both the SIA and the Environmental Impact Assessment ("EIA") underway, we are now working steadily towards the submission of an exploitation licence application to the Greenland government, a key milestone in our road to production."