GreenRoc Strategic Materials plc’s revised mineral resource estimate shows increased confidence for its Thule Black Sands ilmenite project in North Greenland.
REFINEMENT
The MRE focused on the South Area, being the largest of three on the 8km long licence.
The 2019 figure consisted of inferred resources whereas 90% of the 2025 resource falls within the measured and indicated categories.
Results are based on samples from 249 holes drilled in 2021 and analysed for their “total heavy minerals” and ilmenite content.
The company reported measured resource of 1.1 million tonnes at 6.3% ilmenite for 69kt of contained ilmenite.
An indicated resource holds 15.9Mt at 3.8% ilmenite for 602kt of contained ilmenite, and the inferred category contains 2.4Mt at 3.2% ilmenite for 78kt of contained ilmenite.
The total JORC mineral resources across all three categories is 19.5Mt at 3.8% ilmenite for 744kt of contained ilmenite. This compares with the 2019 figures of 19Mt and 8.9% grade.
GreenRoc said that the ilmenite extracted from all samples showed “considerable” variation with zones of high grade of THM >15%, which was used in the MRE, and low-grade THM <15%.
The company also estimates a conceptual target exploration area of 350 kt to 560 kt additional contained ilmenite, and remains uncertain whether further exploration would result in an MRE.
Chief executive Stefan Bernstein added: “Having measured and indicated resources accounting for nearly 90% of the total resource for the South Area reflects what was a comprehensive drilling programme.
“This also means that we have sufficient samples from that drilling programme to conduct further refinement of the project and do not need any further drilling to potentially increase the resource (recoverable ilmenite) or conduct metallurgical studies.”
He added that Thule Black Sands could add value to the company which remains fully focused on the Amitsoq graphite project.
GreenRoc has already submitted a project terms of reference, including schedule and financing, on Amitsoq for a public hearing which began on 24 May and will run until 27 June.
Following responses, the company will revise its terms of reference before submitting them to the Greenland Government for final approval and the grant of an exploitation licence.