TIDMALBA
RNS Number : 1498Q
Alba Mineral Resources PLC
16 October 2023
Alba Mineral Resources Plc / EPIC: ALBA / Market: AIM / Sector:
Mining
16 October 2023
Alba Mineral Resources Plc
("Alba" or the "Company")
Investee Company Update
Amitsoq Exploration Licence Expansion
Alba Mineral Resources Plc (AIM: ALBA) is pleased to note the
RNS today by its portfolio company, GreenRoc Mining Plc
("GreenRoc"), regarding the enlargement of Mineral Exploration
Licence 2013-06 which contains GreenRoc's flagship Amitsoq graphite
deposit. The GreenRoc announcement is set out below without
material changes.
GreenRoc Mining Plc / EPIC: GROC / Market: AIM / Sector:
Mining
16 October 2023
GreenRoc Mining plc
("GreenRoc" or the "Company")
Amitsoq Graphite Project Update
Grant of Exploration Licence Expansion
GreenRoc Mining Plc (AIM: GROC), a company focused on the
development of critical minerals projects in Greenland, is pleased
to announce that the Government of Greenland has approved the
Company's application to enlarge its Mineral Exploration Licence
("MEL") 2013-06 which contains the Amitsoq graphite deposit.
GreenRoc's Amitsoq Graphite Project in southern Greenland
("Amitsoq") is one of the highest-grade graphite projects in the
world.
Stefan Bernstein, GreenRoc's CEO, commented : "We are pleased to
have been successful in enlarging this Mineral Exploration Licence
as it secures access to an area that will become important when we
develop infrastructure around the mining operation at Amitsoq.
Also, the additional area is prospective for high-grade graphite
deposits similar to those we are targeting at Amitsoq.
"I would like to thank the Greenlandic Mineral Resource
Administration for its swift processing of the application. We
received the Minister's approval just two weeks after signing the
licence documents and the whole licensing process took just three
months. This really illustrates how supportive the Government of
Greenland is towards the sustainable and responsible development of
its natural resource economy and that Greenland is a well-run,
well-regulated, mining friendly jurisdiction."
Figure 1: Original Licence MEL 2013-06 to the East and newly
added area to the west of Amitsoq mine. Nanortalik town is situated
about 20km to the southwest of Amitsoq.
Details
The additional area lies immediately to the west of the existing
licence MEL 2013-06 which contains the Amitsoq deposit (see Figure
1). Before the licence extension, MEL 2013-06 covered an area of
48km(2) and, with the license expansion, has now increased to
72.52km(2) .
The licence application was submitted to the Greenlandic Mineral
Resource Administration on 3 July 2023, with all parties having
signed the licence document by 10 October 2023.
The area added to MEL 2013-06 secures access to stretches of
land on the coast opposite the Amitsoq deposit which will be
important as GreenRoc progresses its development of the Amitsoq
graphite deposit towards production. It allows the Company to
consider the use of flat ground for infrastructure, including
buildings, storage, depot sites, and port facilities.
Additionally, a large portion of the rocks underlying the added
licence area consist of metamorphic rock complexes similar to those
that host the Amitsoq and Kalaaq graphite deposits and adjacent
graphite mineralisations (see RNS of 10 October, 2022) and are,
therefore, prospective for such deposits.
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.
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.
Actual results achieved may vary from the information provided
herein as a result of numerous known and unknown risks and
uncertainties and other factors.
**ENDS**
For further information, please visit www.albamineralresources.com or contact:
Alba Mineral Resources Plc
George Frangeskides, Executive Chairman +44 20 3950 0725
SPARK Advisory Partners Limited (Nomad)
Andrew Emmott +44 20 3368 3555
CMC Markets plc (Broker)
Thomas Smith / Douglas Crippen +44 20 3003 8632
Alba's Projects and Investments
Mining Projects Operated Location Ownership
by Alba
Clogau (gold) Wales 100%
----------- ----------
Dolgellau Gold Exploration
(gold) Wales 100%
----------- ----------
Gwynfynydd (gold) Wales 100%
----------- ----------
Investments Held by Alba Location Ownership
----------- ----------
GreenRoc Mining Plc (mining) Greenland 42 .97 %
----------- ----------
Horse Hill (oil) England 11.765%
----------- ----------
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END
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