GreenRoc Strategic Materials has extended graphite mineralisation at its Amitsoq project in South Greenland significantly north of the previous resource drilling, according to preliminary Phase III results.
The AIM-listed company, focused on developing critical mineral projects in Greenland, said seven holes drilled from two pads confirmed the extension, with the best intercept at hole AM_DD_043 showing an estimated true thickness of 21.4 metres.
European Commission President Ursula von der Leyen referenced Amitsoq directly this week while unveiling a €200 million Global Gateway Partnership Package for Greenland covering 2026 and 2027, calling it "a very important project in the field of the critical raw materials".
The package spans education, fisheries, connectivity, hydropower and critical raw materials, and designates Amitsoq an EU Strategic Project under the Critical Raw Materials Act.
GreenRoc said it interprets the European Investment Bank's advisory agreement with the company, disclosed in June, as the specific funding mechanism the president referred to in her Nuuk speech.
Most of the Phase III programme is complete, with the remaining two holes due to be drilled from Pad 2 in October, alongside downhole televiewing to support geotechnical work.
"These results also provide valuable geological, geotechnical and hydrogeological data as we advance Amitsoq towards prefeasibility study work and mine design," said chief executive Stefan Bernstein.
The prefeasibility study is expected to start by the end of 2026, and Bernstein will host an investor webinar on 25 September.