GreenRoc Mining (GROC ), a Greenland-focused explorer, updated markets this morning on key developments at its Amitsoq Graphite Project in South Greenland.
Alba Mineral Resources (ALBA ) holds a 54% majority interest in GreenRoc.
GreenRoc said it has appointed graphite expert ProGraphite GmbH to act as adviser on technical and commercial aspects of graphite processing, sales, and marketing.
Additionally, German process engineering specialist UVR-FIA GmbH will be appointed to complete test work on a 700kg bulk sample of graphite ore collected from the Amitsoq graphite mine. Results will help refine processing techniques to develop and characterise saleable products for the EV battery market.
GreenRoc has also sent a set of drill core samples from its 2021 drilling campaign at Amitsoq to the Geological Survey of Denmark and Greenland (GEUS) for detailed mineralogical and petrographical studies. Results from these will support processing plant design and feed into the testwork carried out by UVR-FIA.
All of the test results and studies will feed into a planned scoping study, which, along with EIA and SIA assessments, will form a major portion of GreenRoc's 2023 work programme at Amitsoq.
Stefan Bernstein, CEO of GreenRoc commented:
"Amitsoq is shaping up to be a world-class graphite project. We are absolutely focused on fast-tracking the development of the asset to create a new, sustainable source of high quality graphite that can support the rapidly growing EV battery market, where there is critical supply demand."
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Amitsoq is one of the highest grade graphite deposits in the world, with a maiden JORC resource of 8.28Mt ore at an average grade of 19.75% graphite. It is anticipated that the maiden resource will be be significantly upgraded in the coming weeks, following GreenRoc's successful summer 2022 drilling campaign.
With the appointment of ProGraphite to offer guidance on commercial aspects related to processing, sales, and marketing, and the appointments of UVR-FIA and GEUS to fast-track technical and mineralogical work, GreenRoc is well on schedule to complete its scoping study and EIA/SIA in 2023 and commence production shortly thereafter.
Earlier this month, GreenRoc's CEO Stefan Bernstain visited the Maastricht operations of Asbury Graphite and Carbons NL, a leading graphite supplier with headquarters in the US. GreenRoc management has now concluded an initial round of meetings with potential industry partners, including representatives of European car manufacturers and gigafactories.
GreenRoc’s technical work to date has confirmed that Amitsoq graphite can be upgraded to a more than 99.95% pure graphite product, which is the specification requirement for EV batteries. With critical global demand for graphite, Amitsoq's vast deposit is set to play a key role in the transition to net zero.
In a broader context, demand for graphite is forecast to soar. UBS is estimating a natural graphite deficit of 3.7Mt by 2030, representing around 37% of the total global market. And according to Baker Steel, between 2020 and 2040, a 22-fold increase in graphite for energy technology demand is forecast, and a 10-fold increase across all applications, an increase second only to lithium.
Alba Mineral Resources (ALBA ) holds a 54% majority interest in GreenRoc.
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