RE: RNS26 Sep 2022 08:14
Stefan Bernstein, GreenRoc's CEO, commented: "Amitsoq continues to prove to be an exceptional graphite deposit. These drilling results have surpassed our expectations that were based on last year's already successful drilling programme and give me much excitement for the development potential ahead. The graphite layers show better continuity and greater thicknesses than we could have hoped for; to achieve true graphite layer thickness of up to 20.69m and consistent LGL thicknesses of more than 14m is a fantastic outcome and coupled with the graphite orebodies being open in three directions holds promise that we are truly developing a world-class graphite deposit at Amitsoq.
"It is particularly encouraging that the LGL is showing these extraordinary thicknesses as intersections from 2021 drilling returned grades of between 21.72% and 23.01% graphitic carbon, underpinning Amitsoq as one of the very highest graphite deposits in the world. Accordingly, alongside a world-class grade, today's result suggests we have the tonnage potential to support a significant new mining opportunity.
"Adding to this, the general quality of the rock core, whether actual graphite ore, hangingwall, or footwall, is very high - with only a low amount of fracturing, pointing to uncomplicated mining operations in stable rock. This can indeed be appreciated when entering the old mine workings, which are intact despite the 100 years that have passed by. Our focus now is to deliver a significant upgrade in the Project's resource tonnage and to progress to development status. We have completed 2nd year environmental baseline work and are now pushing ahead with our EIA/SIA work in the expectation that the revised resource assessment to come will be sufficient to underpin feasibility studies in support of a substantial mining operation at Amitsoq. We look forward to sharing further detail in due course."
Sign In
Follow the stocks
