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Expanded, upgraded Graphite Creek

 

Last updated 3/29/2019 at 4:19am

Graphite One Inc.

High-grade graphite encountered during the 2018 drill program at Graphite Creek boosted both the grade and size of this graphite deposit on the Seward Peninsula.

Graphite One Inc. March 26 reported an update resource with more graphite at higher grades, a good sign that the Graphite Creek deposit in western Alaska could provide a much needed American supply of this carboniferous material required to make the batteries powering electric vehicles.

"Graphite Creek continues to show potential to be a significant domestic source of critical materials for electric vehicle batteries, power storage and various other critical and strategic end uses," said Graphite One President and CEO Anthony Huston.

Graphite Creek now hosts 10.95 million metric tons of measured and indicated resources averaging 7.8 percent (850,534 metric tons) graphite; plus 91.89 million metric tons of inferred resource averaging 8 percent (7.34 million metric tons) graphite.

This marks the first graphite reporting to the measured category; an 8 percent increase in grade and 14 percent increase in total graphite in the combined measured and indicated resource categories; and a 14 percent increase in grade and 48 percent increase in inferred resources, when compared to the resource calculation used to complete a preliminary economic assessment for the project in 2017.

"This increase in resources demonstrates the potential for a robust, high-grade U.S. graphite project," said Huston.

This 2017 PEA outlines plans for a roughly 2,800-metric-ton processing facility at Graphite Creek. Once this operation is running at full capacity, which the PEA slates for the sixth year of production, this mine would be churning out roughly 60,000 metric tons of 95 percent graphite concentrate per year.

This concentrate would be shipped to an advanced material processing facility that is anticipated to refine these concentrates into 41,850 metric tons of coated spherical graphite and 13,500 metric tons of purified graphite powders annually.

The updated resource and recommendations in an associated technical report will provide direction for continued drilling that is expected to form the basis for a pre-feasibility study that will provide a more in-depth view of the engineering and economics of developing the mine and processing facility.

"With the rapid rise in graphite demand associated with renewable energy applications, and the proliferation of EV battery and energy storage manufacturing, we believe Graphite One could be an important part of this new energy supply chain," Huston said.

–SHANE LASLEY

 

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