Alabama Graphite Releases NI 43-101 Coosa Resource Estimate

Alabama Graphite Corp ( TSXV: ALP) announced it has completed an updated mineral resource estimate for the company’s 100-per-cent-owned Coosa graphite project, located in Coosa county, east-central Alabama, consisting of 78,488,000 tons in the indicated resource category grading 2.39 per cent graphitic carbon (Cg) and 79,443,000 tons in the inferred resource category grading 2.56 per cent Cg, utilizing a 1-per-cent cut-off grade.
As quoted in the press release:

Indicated Mineral Resource of 78,488,000 tons, grading 2.39% Cg at a 1% cutoff grade, for a total of 1,876,000 tons contained/in-situ graphite – the largest graphite Indicated Resource in the United States of America
Inferred Mineral Resource of 79,443,000 tons, grading at 2.56% Cg at a 1% cutoff grade, for a total of 2,034,000 tons contained/in-situ graphite — AGC’s 2015 drill program further substantiates the positive continuity of near-surface, oxidized higher-grade graphitic material, within a simple geological setting, successfully upgrading a significant amount of the previous Inferred resource to the Indicated resource category
The drilling campaign successfully increased the amount of oxide material in the Mineral Resource Estimate — AGC will utilize the Updated Mineral Resource Estimate to prepare its maiden Preliminary Economic Assessment (“PEA”) for the Coosa Graphite Project, currently underway and scheduled for publication in Q4 2015