TIDMGROC
RNS Number : 7251R
GreenRoc Mining PLC
09 November 2021
To view the announcement with the illustrative images please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/7251R_1-2021-11-8.pdf
GreenRoc Mining plc
("GreenRoc" or the "Company")
Amitsoq Project Update
Significant Graphite Extensions Identified at Kalaaq Deposit
GreenRoc Mining plc (AIM: GROC), the AIM-quoted company
developing mining projects in Greenland in critical minerals, is
pleased to provide results from the field programme at the Kalaaq
Deposit, part of the Amitsoq Graphite Project, undertaken between
July and August 2021.
Key Points
-- Substantial zones of mineralisation confirmed and extended at
the Kalaaq Deposit, located on the Greenlandic mainland and due
south of the Company's 100% owned Amitsoq Graphite Project, one of
the highest-grade graphite projects globally.
-- New zones of mineralisation have been discovered, and greater
confidence in the continuity of the previously identified zones
achieved through channel sampling, grab sampling and beep mat
surveys.
-- The projection of the Upper Graphite Zone (UGZ) that was
identified in 2017 has been extended 360m to the south and is open
along strike.
-- The Lower Graphite Bed has been extended 300m along strike to
the north where values of up to 33.1 C(g)% have been recorded.
-- The newly discovered Niels Hede Pedersen (NHP) Zone has now
extended the identified graphite mineralisation of the BLZ Zone a
further 1.3km and again is open on strike.
-- A potential new area, termed the New Domain Zone (NDZ), with
a grab sample grade of 32.1 C(g)%, has been identified 1km to the
south-east of the current Exploration Target Boundary (see Figure
4) and a further 540m along strike from the graphite horizon mapped
during the 2017 campaign. This sample indicates the potential for
an additional mineralised graphite zone outside the primary target
zones on the western side of the Kalaaq Deposit.
GreenRoc's CEO, Kirk Adams, commented: "This summer's campaign
at the Kalaaq Deposit has been highly successful in extending the
strike lengths of the known mineralised zones, discovering new
zones of mineralisation, and identifying high grade samples outside
of the Exploration Target area. The assay values from the sampling
programme range from 17.43 to 33.1 C(g)% and this confirms our
faith that this is an extensive high-grade graphite area.
"The extensions we have identified outside the current
Exploration Target area, which was based on the 2017 geological
mapping and sampling programme, are particularly exciting as they
indicate significant additional potential. This field campaign
gives GreenRoc the platform to design a drilling programme which
will target the identification of the third dimension of the
mineralised zones that have been now brought into focus by this
year's fieldwork."
Figure 1. Amitsoq Graphite Project in southern Greenland,
showing Amitsoq Island graphite deposit to north (site of former
graphite mine) and Kalaaq Discovery to south.
Details
During July and August 2021 field exploration was conducted at
the Kalaaq Graphite Deposit ("Kalaaq") to sample mapped graphite
horizons that had been identified in previous field campaigns, and
to explore the wider area for new discoveries.
Exploration work consisted of field mapping, trenching, channel
sampling, grab sampling and electromagnetic (EM) surveys using a
portable beep mat. Beep mat results are still being processed and
will be reported when received.
Trenching and channel sampling was done at five locations: the
Boat Landing Zone (BLZ), Upper Graphite Zone (UGZ), Upper Graphite
Zone (UGZ) Continuation, Niels Hede Pedersen (NHP) Zone and the
Shore Lens. The locations and assay results are set out in Figure 2
and Table 1.
Mechanical saw channel sampling was undertaken using a
water-cooled Stihl TS 350 with a 350mm (12") diamond blade. The
process of sampling involved marking of the mapped occurrence and
then making two parallel cuts, with a spacing of approximately 5cm
and a depth of 5-10cm, thereby creating a channel sample
approximately equally in size to NQ drill core.
Figure 2. Location and Results of the 2017-2021 samples taken at
the Kalaaq Deposit.
Table 1. 2021 results of channel sampling and grab sampling at
the Kalaaq Deposit.
Target Zone Type Interval C (g) % True Thickness
(m) (m)
------------------ --------- --------- -------- ---------------
2.1 (0 -
Shore Lens Channel 2.1) 22.25 1.4
------------------ --------- --------- -------- ---------------
Shore Lens Grab N/A 26.40 N/A
Continuation
------------------ --------- --------- -------- ---------------
Upper Graphite 4.0 (0 -
Zone ('UGZ') Channel 4) 24.30 4.0
------------------ --------- --------- -------- ---------------
5.0 (0 -
UGZ Continuation Channel 5) 23.15 5.0
------------------ --------- --------- -------- ---------------
4.0 (0 -
NHP Zone Channel 4) 17.43 4.0
------------------ --------- --------- -------- ---------------
Boat Landing Channel 5.4 (0.2 27.35 N/A
Zone A - 5.6)
------------------ --------- --------- -------- ---------------
1.1 (8.1
Channel - 9.2) 33.10
---------------------------- --------- -------- ---------------
Boat Landing Channel 4.3 (0.1 29.61 N/A
Zone B - 4.4)
------------------ --------- --------- -------- ---------------
Graphite Valley Grab N/A 25.00 N/A
------------------ --------- --------- -------- ---------------
New Domain Grab N/A 32.10 N/A
Zone
------------------ --------- --------- -------- ---------------
NHP North Zone Grab N/A 22.60 N/A
------------------ --------- --------- -------- ---------------
Boat Landing Zone (BLZ)
Two parallel trenches (A and B) 15 m apart were excavated by
hand and subsequently channel sampled. In Trench A, the graphite
layer was exposed over 0.2 - 5.6m and 8.1 - 9.2m from surface. From
5.6 - 8.1m and past 9.2m from surface the overburden was too deep
to clear, however due to the greater conductivity of the graphite
horizons relative to the paragneiss host rock, beep mat anomalies
were noted over the covered zones to 11.8 metres. In Trench B, the
graphite layer was exposed over 0.1 - 4.4 m from surface. At 4.4 m,
the graphite layer disappears under thick cover, but beep mat
anomalies beyond 4.4m were recorded.
The graphite content of the BLZ reaffirms the high-grade nature
of the ore at the Kalaaq Discovery, with assays returning the
following results:
Trench A - 5.4m @ 27.35 C(g)% and 1.1 m @ 33.10 C(g)%.
Trench B - 4.3m @ 29.61 C(g)%.
Further south, the BLZ layer is gradually covered by thick
moraine. The 7-metre wide Lower Graphite Bed (LGB) situated 300 m
to the south, which was discovered during the 2017 campaign, is
interpreted as the likely continuation of this zone (see Figure
2).
Upper Graphite Zone (UGZ)
The UGZ was discovered during the 2017 campaign but not sampled
at that time. Sampling during the 2021 campaign revealed a 4-metre
wide (approx. true thickness) graphite horizon which graded 24.30
C(g)%.
The UGZ Continuation has been discovered 360m south along strike
during this year's systematic beep mat survey. A 5-metre wide
(approx. true thickness) graphite horizon was uncovered and sampled
(Figure 3), which graded 23.15 C(g)%.
Figure 3. 2021 channel sampling of the UGZ Continuation, which
has extended the UGZ 360m south along strike from the previous
southernmost section of the UGZ
NHP Zone
The NHP Zone is a new discovery which extends the graphite
mineralisation for a strike distance of 1.3km southwards from the
BLZ and thus expands the previously reported exploration target
zone.
The NHP Zone is exposed over an area 50m wide and 200m long.
However, the zone was discovered on the last day of the field work
and therefore only the uppermost four metres of the zone have been
trenched and sampled. The 4-metre horizon graded 17.43 C(g)%.
The NHP Zone is a primary target for further trenching and
channel sampling during the 2022 field season.
New Domain Zone (NDZ)
A grab sample grading 32.1 C(g)% was taken 1km south-east of the
Exploration Target Boundary and 540m along strike from a mapped
graphite horizon from the 2017 campaign. This sample indicates the
potential for an additional mineralised graphite zone outside the
primary target zones on the western side of the Kalaaq Deposit.
2022 Kalaaq Plans
The following work is under consideration for the 2022 field
season at Kalaaq:
Airborne Electromagnetic (EM) and Radiometric Survey . An EM
survey is a very effective exploration technique due to graphite
being a highly conductive material. A radiometric survey will be
used to target the different radiometric signatures in the graphite
horizons relative to the paragneiss host rock.
Drilling of the primary target zones (Figure 3) . The drill
collar locations set out after the 2017 campaign will be
repositioned based on these newly acquired 2021 results.
Trenching and Sampling . Further on-the-ground exploration will
be conducted at the NHP Zone and New Domain Zone (Figure 2). This
will again incorporate the use of a beep mat for ground-based
electromagnetic (EM) surveying, with a view to linking these zones
to the current Primary Target Zones (Figure 4).
Figure 4. Primary target zones (blue) and new target zones
(green) defined from the 2017-2021 field campaigns. Exploration
target area (light blue with a blue boundary line) used to
calculate the current Exploration Target tonnage. 2017 location
abbreviations: AjGB - Aaju Graphite Bed; LGB - Lower Graphite Bed;
MGB - Middle Graphite Bed; and UGB - Upper Graphite Bed.
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
Glossary
Electromagnetic (or EM) survey: a geophysical survey method
which measures the electromagnetic properties of rocks.
Radiometric survey: a geophysical survey method that detects and
map gamma rays. Airborne gamma-ray spectrometry or radiometric
surveying for mineral exploration measures the gamma-rays that are
emitted from naturally occurring radioactive isotopes that are
found in rocks and soils near the surface.
C(g) or Graphitic Carbon: Carbon may be present in rocks in
various forms including organic carbon, carbonates or graphitic
carbon. Carbon in rocks may be reported as fixed or total carbon
(i.e. organic carbon + carbon in carbonate minerals + carbon as
graphite) or as graphitic carbon or total graphitic carbon (or TGC)
(i.e. total carbon - (organic + carbonate carbon)). In this report
graphite results are indicated as graphitic carbon or C(g)%.
Overburden: material that lies above an area of mineralisation
.
Forward Looking Statements
This announcement contains forward-looking statements relating
to expected or anticipated future events and anticipated results
that are forward-looking in nature and, as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, competition for qualified staff, the
regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political
jurisdiction, uncertainties regarding the results of exploration,
uncertainties regarding the timing and granting of prospecting
rights, uncertainties regarding the timing and granting of
regulatory and other third party consents and approvals,
uncertainties regarding the Company's or any third party's ability
to execute and implement future plans, and the occurrence of
unexpected events.
Without prejudice to the generality of the foregoing,
uncertainties also exist in connection with the ongoing Coronavirus
(COVID-19) pandemic which may result in further lockdown measures
and restrictions being imposed by Governments and other competent
regulatory bodies and agencies from time to time in response to the
pandemic, which measures and restrictions may prevent or inhibit
the Company from executing its work activities according to the
timelines set out in this announcement or indeed from executing its
work activities at all. The Coronavirus (COVID-19) pandemic may
also affect the Company's ability to execute its work activities
due to personnel and contractors testing positive for COVID-19 or
otherwise being required to self-isolate from time to time.
Actual results achieved may vary from the information provided
herein as a result of numerous known and unknown risks and
uncertainties and other factors.
Competent Person Declaration
The information in this release that relates to Exploration
Results has been reviewed by Mr Mark Austin. Mr Austin is a member
of SACNASP (Reg. No. 400235/06), Fellow of The Geological Society
and Fellow of the Geological Society of South Africa. He has a
B.Sc. Honours in Geology with 38 years' experience.
Mark Austin has sufficient experience that is relevant to the
style of mineralisation and type of deposit under consideration and
to the activity being undertaken to qualify as a Competent Person
as defined in the 2012 Edition of the 'Australasian Code for
Reporting of Exploration targets, Exploration Results, Mineral
Resources and Ore Reserves', also known as the JORC Code. The JORC
code is a national reporting organisation that is aligned with
CRIRSCO. Mr Austin consents to the inclusion in the announcement of
the matters based on his information in the form and context in
which they appear.
For further information, please contact:
GreenRoc Mining Plc
Kirk Adams, CEO +44 20 3950 0724
Cairn Financial Advisers LLP (Nomad)
James Caithie / Sandy Jamieson +44 20 7213 0880
-----------------
ETX Capital (Broker)
Tom Curran / Thomas Smith +44 20 7392 1494
-----------------
St Brides Partners Ltd (Financial
PR & IR) Susie Geliher / Oonagh Reidy +44 20 7236 1177
-----------------
GreenRoc's Mining Assets
GreenRoc Mining Plc is an AIM-quoted company which is developing
mining projects in Greenland in critical, high-demand and
high-value minerals.
Led by a group of highly experienced mining industry
professionals, GreenRoc has a portfolio of 100% owned projects:
-- Amitsoq Graphite;
-- Thule Black Sands Ilmenite;
-- Melville Bay Iron; and
-- Inglefield Multi-Element.
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