The London-listed equities of Alba Minerals (LSE: ALBA) and GreenRoc Mining (AIM: GROC) rose on Tuesday following a maiden graphite resource for the Greenland-based Amitsoq project.
GreenRoc has compiled a Joint Ore Reserves Committee- (JORC) compliant indicated and inferred resources of 8.28 million tonnes at an average grade of 19.75% graphitic carbon, giving a total graphite content of 1.63 million tonnes.
This includes a high-grade contribution from the Lower Graphite Layer of 3.67 million tonnes at 21.19% for 775,000 tonnes of contained graphite.
GreenRoc said the maiden resource confirmed Amitsoq’s position as one of the highest-grade graphite deposits globally, supporting the company’s objective of fast-tracking the project into the development phase.
The deposit is said to be open along strike (predominantly to the north) and down dip to the west, and this will be tested in the Phase 2 drilling programme this year.