GreenRoc Mining PLC (AIM:GROC) said it made strong progress in the six months to end May on its flagship projects in Greenland.
It reported a maiden resource estimate for its Amitsoq graphite project in March, making it one of the world’s highest-grade graphite projects, and increased its exploration target for the Amitsoq Island and Kalaaq deposits.
“GreenRoc was admitted to AIM just less than a year ago with the objective of becoming a key supplier of critical, high-demand, high-value minerals and I believe the company has made great strides towards this goal,” said Stefan Bernstein, who was appointed chief executive in May.
“Based on the encouraging results to date, drilling is now underway to further upgrade and increase the current maiden JORC resource.”
GreenRoc said it expects to receive the long-awaited results from a 2021 drilling campaign at its Thule Black Sands project in the coming weeks.
“We are hopeful that these will lead to an upgraded mineral resource and provide the foundation for feasibility studies,” he said.
Pretax losses for the company, which does not yet generate revenue, widened to £484,000 from £306,000 in the period from 17 March to 30 November 2021.