Graphite One Resources Inc. (TSXV:GPH, OTCQX:GPHOF) reported an increase to the existing inferred resource by 68% to 284.71 Million Tonnes of 4.5% Graphitic Carbon, and by 41% to 37.68Mt of 9.2% Cg at cut-offs of 2% Cg and 7% Cg, respectively.
As quoted in the press release:
- Largest known, high grade, large flake Graphite Deposit in the United States and North America.
- This new and expanded inferred resource is comprised of 2012 and 2013 drilling by Graphite One and represents a 68% increase of the estimated in situ graphite from the previous 2012 maiden resource.
- High-grade graphite mineralization is at surface and extends from surface to depths of over 200m.
- The 2013 drilling program further confirmed excellent continuity of near surface, high grade graphite within a simple and accessible geological setting and doubled the strike length of current mineralization at the Graphite Creek Deposit to 4.8 km’s.
- The resource area (4.8km) only represents drilling along 27% of an 18km long electro-magnetic conductor.
- The Deposit remains open along strike to both the east and west, and down dip. Every hole continues to be mineralized from top to bottom.