SRK Exploration was engaged by GreenRoc Mining to prepare a Competent Person’s Report (CPR) on three of its exploration assets in Greenland as part of its admission to AIM.
The Amitsoq Graphite Project lies in the Nanortalik region of south Greenland, 17km from the historical Nalunaq Gold Mine. Two high-grade graphite horizons at the southern tip of Amitsoq Island were discovered and exploited on a small scale in the early 20th century. The mine was abandoned in 1922 and ignored until Obsidian Mining, a wholly owned subsidiary of GreenRoc, obtained an exploration licence in 2013. Over several field seasons SRK Exploration assisted Obsidian by conducting structural mapping, geophysical surveys and bulk sampling programmes for metallurgical testwork. Multiple new graphite horizons were located on the mainland at the Kalaaq prospect.
GreenRoc successfully completed its first 9-hole diamond drilling programme on Amitsoq Island just prior to the publication of the CPR in summer 2021. The Lower Graphite Layer returned drill intercepts grading up to 23.01% C(g) and channel samples grading up to 30.35% C(g). The Upper Graphite Layer returned drill intercepts grading up to 19.83% C(g) and channel samples grading up to 27.40% C(g)
The Melville Bay Iron Project is in northwest Greenland, close to the USAF Thule Air Base. The project was previously explored by Red Rock Resources Ltd (“RRR”) who completed airborne geophysics and 27 diamond drill holes across primary magnetite BIF targets that now lie within GreenRoc’s exploration licence. RRR’s 2012 mineral resource estimate for the project was updated for the 2021 GreenRoc CPR by SRK Consulting (UK) and comprises total inferred resources of 67Mt at 31.4% Fe across the Havik East and Havik Northeast targets.
The Inglefieldland Multi-element Project is situated north of the Melville Bay Iron Project and contains occurrences of cobalt, copper, gold, vanadium and nickel. Historical work has indicated the potential for IOCG, porphyry and VMS style mineralisation.
Following a successful £5.12m fund raise, GreenRoc started trading on AIM on 28 September 2021 with a market capitalisation of £11.1m.
