GreenRoc Strategic Materials Plc (AIM: GROC) has reported encouraging results from Phase III drilling at its Amitsoq Graphite Project in South Greenland, with drilling extending known graphite mineralisation by 100 to 150 metres to the north of the previous resource area.
The update comes alongside significant political recognition for Amitsoq, after European Commission President Ursula von der Leyen described it as “a very important project” in critical raw materials while announcing a new €200 million EU-Greenland partnership package.
Seven holes have so far been completed from two drill pads targeting northern extensions of the Amitsoq graphite orebodies.
Among the strongest results, hole AM_DD_043 intersected the Lower Graphite Layer over an estimated true thickness of 21.4 metres, while AM_DD_047 returned an estimated true thickness of 13.1 metres of the same graphite layer.
AM_DD_046 intersected an estimated 2.5 metres of the Lower Graphite Layer and AM_DD_044 returned approximately 3.0 metres.
Importantly, the step-out drilling from Pad 3 has demonstrated continuation of the Lower Graphite Layer around 100-150 metres north-northwest beyond the limits of the 2021 and 2022 drilling.
GreenRoc said this indicates significant potential to expand the existing Amitsoq resource, subject to assay results and confirmation by the company’s independent Competent Person.
The majority of the Phase III programme has now been completed. Two remaining holes are expected to be drilled from Pad 2 in October following delays caused by limited helicopter availability.
Sampling for geochemical assays and geotechnical testing is continuing, while downhole televiewer surveys are planned for October to provide further structural information.
Hydrogeological investigations have also been carried out as GreenRoc gathers the technical information required for the next stage of development.
The results will contribute towards the planned Amitsoq Prefeasibility Study, which is expected to begin by the end of 2026.
In a separate but potentially significant development for the project, European Commission President Ursula von der Leyen specifically highlighted Amitsoq during a speech in Nuuk announcing a €200 million Global Gateway Partnership Package for Greenland for 2026 and 2027.
The package covers critical raw materials alongside hydropower, connectivity, education and fisheries.
Von der Leyen said the EU was financing preparations for GreenRoc’s Amitsoq graphite development, describing it as “a very important project in the field of the critical raw materials.”
The European Commission also identified Amitsoq as a concrete example of the developing relationship between Greenland and the EU, highlighting its potential to create integrated Greenland-EU critical-mineral supply chains and strengthen European security of supply.
Amitsoq has already been designated an EU Strategic Project under the Critical Raw Materials Act, strengthening its strategic position as Europe looks to reduce its dependence on external sources of graphite and other materials required for batteries and electrification.
GreenRoc previously announced that the EU is financing the European Investment Bank’s advisory work with the company through the InvestEU Advisory Facility.
GreenRoc chief executive Stefan Bernstein said the latest drilling continued to demonstrate the scale and continuity of the Amitsoq deposit, with the northern step-outs providing important geological, geotechnical and hydrogeological information ahead of prefeasibility work and mine design.
He also welcomed the European Commission President’s public recognition of Amitsoq and the EU’s continuing support for the project as part of efforts to develop secure and sustainable European critical raw-material supply chains.
GreenRoc management will attend Fastmarkets Europe 2026 in Budapest from 15 to 17 September, while Bernstein is scheduled to provide a further investor update through a webinar on 25 September.
