GreenRoc upbeat on recent test work, community meetings

Greenland-focussed minerals developer GreenRoc Mining announced the results of purification test work that it conducted on spheronised graphite produced from an Amitsoq graphite sample on Friday.

The AIM-traded firm said the test work achieved a purity of 99.97% using alkaline purification, exceeding the purity required to produce spheronised graphite used in the manufacturing of anodes for electric vehicle batteries.

It also said a series of “positive and successful” meetings took place in Greenland between its chief executive officer Stefan Bernstein and various project stakeholders, including the local community at Amitsoq, the country’s minister for mineral resources and justice, and the newly-established government body NunaGreen, which is leading Greenland’s transition to carbon-neutral energy.

GreenRoc also provided an update on the status of Thule black sands (TBS) test work and resource assessment.

It said coarser grain fraction of more than one millimetre from TBS drill samples would be tested for ilmenite content, before finalising the assays and resource assessment.

The material larger than one millimetre was initially discarded from the analytical work, though it potentially contained “appreciable amounts” of ilmenite.

“This confirmation that our spheronized graphite, produced from concentrate from the lower graphite layer at the Amitsoq Island deposit, can be purified to an exceptional 99.97% purity using a preferred alkaline purification route is a very significant milestone for our flagship project,” said CEO Stefan Bernstein.

“It demonstrates that our graphite is suitable for processing into anode-grade spherical graphite, a key raw material in the manufacturing of batteries for electric vehicles.”

Bernstein also said that the “very constructive meetings” in with community and government stakeholders in the Amitsoq Project left him “greatly encouraged” by the “overwhelmingly positive engagement” he received, adding that he had “high expectations” that the project could bring value to Nanortalik and the municipality of Kujalleq.

At 1122 GMT, shares in GreenRoc Mining were flat at 5.35p.

Reporting by Josh White for Sharecast.com.