The updated estimate is 17.95 million tons indicated, grading 6.3% graphitic carbon (Cg) and 154.36 million tons inferred with 5.7% Cg, using a 3% Cg cut-off grade.
Located approximately 113km from the port of Nome, the Graphite Creek deposit is said to remain open along strike in east and west directions as well as down dip.
It hosts high-grade graphite mineralization at the surface and drilling to depths of over 200m has further extended the mineralization.
Last year drill program has increased the vertical and lateral drill spacing along a 730m strike length of the 4.8km long Graphite Creek deposit.
Accumulated data identified that a portion resource estimate was moved from inferred to indicated resource, which will assist the company in creating initial preliminary economic assessment for the project.
Graphite One CEO Anthony Huston said: "With this updated Mineral Resource Estimate, we have the basis for developing our initial PEA, and the foundation for an infill drill program in 2015 to bring additional resources into the measured and indicated category.
"The metallurgical samples we obtain will help us further refine our knowledge of the recovery and size distribution of our unique deposit and position Graphite Creek as a new source for the growing graphite market."
