The Conversation (0)
Eagle Graphite (TSXV:EGA,FWB:NJGN) announced that it has achieved 99.995% purity from flake graphite produced from the processing plant of the Black Crystal project in BC.
Eagle Graphite’s Black Crystal project’s distinct advantage over other deposits is due in large part to the environmentally benign host rock. The very nature of the Black Crystal quarry has allowed Eagle Graphite to adopt a more sustainable approach on purification, using a method does not use hydrofluoric acid or caustic. Rather than a hard rock or clay-type deposit, the Black Crystal quarry is composed of an alkaline sandy material with loose graphite flakes that are easily separated from the host material.
As quoted in the press release:
The 99.995% purity result is a significant step forward in achieving one of Eagle Graphite’s near term objectives. Mr. Deith explains, “Upon going public in January of this year, we established two main objectives for 2015. Demonstrating that our graphite is suitable for Li-Ion batteries is important for diversifying our product range, and we will build on progress to date with further testing. We are simultaneously pursuing an expanded graphite resource for our project, with exploration programs at both our established Hoder Creek deposit, and in the mineralized area immediately adjacent to our processing plant.” The commencement of exploration work in the plant area was announced on April 30, 2015, and preliminary results are expected in the third quarter of 2015.
Industry analysts project that between 2017 and 2020, North American graphite consumption for Li-Ion battery production may grow to exceed all other applications combined. Western North American consumption for batteries is expected to exceed 90,000 tonnes per year. (Sources: IM Magazine, USGS)
Eagle Graphite President and CEO, Jamie Deith, said:
We have attained a critical milestone with this result. While we fully expected that over time we would be able to meet purity requirements for batteries, exceeding our target by such a comfortable margin on the first attempt is a most welcome development. I have nothing but praise for the research team who have achieved this.
Click here to read the Eagle Graphite (TSXV:EGA,FWB:NJGN) press release
Click here to see the Eagle Graphite (TSXV:EGA,FWB:NJGN) profile.