Nouveau Monde Graphite Inc. (TSXV:NOU) announced that it has launched a prefeasibility study at the Tony claim block at its Quebec-based Matawinie graphite property.
The company also released the results of a metallurgy optimization program. The program has allowed the company to develop an updated and simplified process flow sheet; improvements will be reflected in the prefeasibility study.
As quoted in the press release:
The PFS will focus on the West Zone deposit where a Mineral Resource Estimate was recently updated to 32.9 Mt grading 4.50 % graphitic carbon (or “Cg”) in the indicated category and 0.2 Mt grading 4.84 % Cg in the Inferred Category (see press release dated March 2, 2017). The PFS is scheduled to be completed in September of 2017.
Eric Desaulniers, president and CEO of Nouveau Monde, commented:
We are eager to increase the confidence around the economic model to develop our graphite property in Quebec, Canada. Since we completed our PEA we have done extensive work to further define and increase our resource estimate. Equally important, we have added key management with critical real world graphite mine operation experience. One such individual is our CFO Charles-Olivier Tarte. Charles was previously the Natural Graphite Financial Controller for Imerys Graphite & Carbon, overseeing the financial management of the Lac-des-Îles (QC) natural graphite mine, the Terrebonne (QC) second transformation plant & the Westlake (OH) Americas sales office. Charles will lead Nouveau Monde’s efforts on the PFS and work closely with our consultants to ensure his knowledge of operating graphite mines in Quebec is reflected in our PFS. I am keen to publish the results of our PFS in September.