Graphite One Resources has commenced a summer 2018 Field Program at its Graphite Creek deposit located near Nome, Alaska.
The 2018 Field Program is a key step in the Company’s ongoing field work in support of the Company’s Graphite Creek deposit pre-feasibility study. The 2018 Field Program follows on the July 19, 2018 closing of the final tranche of private placement financing that exceeded $4 million.
“Our Preliminary Economic Assessment [PEA], envisions, based on exploration results to date, a possible 40-year project life for a vertically integrated manufacturer of high-grade coated spherical graphite with mining and processing facilities near Nome, Alaska and advanced material processing at a dedicated graphite product manufacturing facility,” said Anthony Huston, President and CEO of Graphite One, referencing the PEA completed in June 2017. “Our 2018 Field Program is expected to add to our understanding of the value of our project as we move toward a pre-feasibility phase. With the growing demand for graphite in electric vehicle lithium ion batteries and other energy storage applications – and the inclusion of graphite on the U.S. Critical Mineral List1 – we see Graphite One as a potentially significant new source of supply for decades to come.” The 2018 Field Program is directed by Stan Foo, the Chief Operating Officer of the Company’s US subsidiary and veteran Alaska mining executive.
The 2018 Field Program consists of:
continued discussions with the communities closest to the project;
approximately 2,000 metres of diamond core drilling to tighten drill spacing within the identified mineral resource;
collection of core samples to be used for additional metallurgical test work;
assessment of various alternative project access routes; and
reconnaissance level fish and wildlife surveys.
Source: Company Press Release