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Assays confirm world-class Graphite Creek

Final 2023 drill results include 9.4 meters of 13.9% graphite North of 60 Mining News - January 9, 2024

Graphite One Inc. Jan. 8 reported the final batch of high-grade drill results from the 57-hole drill program carried out during the 2023 season at its Graphite Creek project in western Alaska.

Backed by a $37.5 million grant from the U.S. Department of Defense, the 2023 drill program included 52 holes focused on upgrading the world-class Graphite Creek deposit, plus five geotechnical holes, in preparation for a feasibility study to be completed by the end of this year.

According to a 2023 calculation, the Graphite Creek deposit hosts 37.6 million metric tons of measured and indicated resources at Graphite Creek averaging 5.15% (1.9 million metric tons) graphite; plus 243.7 million metric tons of inferred resource averaging 5.14% (12.3 million metric tons) graphite.

The company reports that all 52 resource definition holes drilled last year cut graphite and continued to demonstrate exceptional consistency of the near-surface, high-grade graphite deposit that remains open for several miles along strike, as well as down dip.

Highlights from the initial batch of 2023 resource upgrade drill results released by Graphite One in October include:

9.6 meters averaging 13.19% graphitic carbon in hole 23GC088.

Nine meters averaging 14.89% graphitic carbon in hole 23GC092.

15.2 meters averaging 10.75% graphitic carbon in hole 23GC099.

10.88 meters averaging 11.14% graphitic carbon in hole 23GC102.

Highlights from the balance of the 2023 Graphite Creek drill program include:

9.9 meters averaging 7.7% graphitic carbon from surface in hole 23GC103.

Six meters averaging 12.54% graphitic carbon from a depth of 107 meters in hole 23GC105.

9.4 meters averaging 13.87% graphitic carbon from a depth of 10.4 meters in hole 23GC110.

11.92 meters averaging 7.07% graphitic carbon from a depth of 53 meters in hole 23GC115.

6.48 meters averaging 19.02% graphitic carbon from a depth of 47.4 meters, and 10.14 meters averaging 12.3% graphitic carbon from 61.6 meters in hole 23GC127.

"We are pleased with the continued consistency in the quality of the assay results from our 2023 drilling program," said Graphite One President and CEO Anthony Huston. "We see these results as another indication that Graphite Creek is a truly generational strategic resource for a world hungry for graphite, and we continue to strengthen our position to deliver a feasibility study in late 2024."

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Shane Lasley, Publisher

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Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.

 

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