Alabama Graphite Corporation (CNSX:ALP) announced its maiden resource estimate for the Coosa Graphite Project in Coosa County, Alabama: the indicated resource is estimated at 38.2 million tons grading 2.60% graphitic carbon (“Cg”), based on a 2.0% Cg cutoff. The inferred resource is estimated at 27.0 million tons grading 2.87% Cg.
As quoted in the press release:
Graphitic Carbon Indicated Mineral Resources
Tons Graphitic Carbon (Cg%) Tons Cg 38,159,000 2.6 992.134
Graphitic Carbon Inferred Mineral Resources
Tons Graphitic Carbon (Cg%) Tons Cg 26,992,000 2.87 774.670
Alabama Graphite CEO Daniel Spine said:
In the one year since Alabama Graphite acquired the Coosa Graphite Project we have taken it through surface exploration, drilling and established an initial resource estimate. Based on the model put together by Metal Mining Consultants, we are confident that we can build upon this resource through additional cost-effective exploration.