Approximately 8,730 meters of results from 52 drill holes are part of Graphite One’s largest exploration program in the history of the project.
Standout results include hole 23GC110 graded 13.87% graphitic carbon (Cg) over 9.4 meters at 10.3 meters depth; hole 23GC127 graded 19.02% Cg over 6.5 meters starting at 47.4 meters and graded 12.3% Cg over 10.1 meters starting at 61.6 meters; hole 23GC115 graded 13.87% Cg meters, the center of gravity is 11.9 meters at 7.07%.
The company said the results demonstrate the exceptional consistency of a shallow, high-grade graphite deposit that remains open to the east, west and downdip of the resource estimate.
Anthony Huston, CEO of Graphite, said: “We believe these results are further evidence that Graphite Creek is a truly multi-generational strategic resource for a graphite-hungry world and we will continue to strengthen our position to be ready by the end of 2024 Provide feasibility study.” One, released in a press release.
Related News
- AFR NuVenture Resources Granted Mineral Exploration License for Prospective Property Near Historic Stirling Mine
- Dramatic rescue operation frees 15 trapped miners in Zimbabwe
- Belmont Resources Reports Significant Findings in Latest Drill Results at A-J Property, Intercepting Second 100+ Meter Long Mineralized Zone
- Brazilian Potash is providing emergency response assistance to the wildfire crisis in Autazes
- Golden Ridge Resources completes phase 2 drilling at the Williams gold property, features a significant gold intersection, & explores a new mineralization zone
Despite the high demand for graphite as a key ingredient in electric vehicle batteries, there are only a handful of graphite exploration projects in North America and only one producing mine – Northern Graphite (TSX: NGC; US OTC: NGPHF ) mine in Lac des Iles. in Quebec. Graphite’s geopolitical importance further increased after China announced stricter export controls on the graphite material in November. The East Asian country is the world’s largest graphite producer and exporter, refining more than 90% of the graphite material.
The latest results bode well for Graphite One’s feasibility study and build on a 2022 pre-feasibility study, Red Cloud Securities mining analyst David Talbot said in a research note on Tuesday. It describes a mine with a life of 23 years and a planned production facility in Washington state with a life of 26 years. The initial capital cost is US$1.1 billion, operating costs are US$3,590 per ton, the after-tax NPV (discount of 8%) is US$1.3 billion, and the internal rate of return is 22%.
“We look forward to further improvements in the scale and economics of the Graphite Creek project, which already hosts the largest known resource of flake graphite in the United States,” Talbot said.
He also noted that only about 10 percent of the mineralized trend has been drilled to date at Graphite Creek in the Kigruek Mountains, about 60 kilometers north of Nome, Alaska.
The site holds 32.5 million measured and indicated tonnes grading 5.25% Cg (1.7 million tonnes), and 254.7 million inferred tonnes grading 5.11% Cg (13 million tonnes). This estimate is based on a cutoff content of 2% Cg.
The Vancouver-based company’s feasibility study work is supported by a $37.5 million grant from the U.S. Department of Defense through the Inflation Reduction Act last July.
USA. The Geological Survey confirmed nearly a year ago that Graphite Creek contains the largest known graphite resource in the country and one of the largest in the world. Graphite One shares were up 1.3% at 79 cents a share at midday in Toronto on Tuesday, valuing the company at C$103.1 million. Its shares have traded between 76 cents and $1.97 Canadian dollars for 52 consecutive weeks.
