The Conversation (0)
Graphite One Resources Inc. (TSXV:GPH) announced that it has filed an NI 43-101 on its Graphite Creek deposit in Alaska. The report supports the company’s updated mineral resource estimate to 17.95 million tonnes indicated at a grade of 6.3 percent graphite carbon and 154.36 million tonnes inferred with 5.7 percent graphite carbon using a cut-off grade of 3 percent.
Highlights from the updated mineral resource estimate:
- Indicated Mineral Resource of 17.95 Mt at 6.3 percent graphite carbon and an Inferred Resource of 154.36 Mt of 5.7 percent graphite carbon, both at 3 percent COG, makes the Graphite Creek deposit the largest published graphite resource in the United States.
- A 14 percent increase in grade within the area of 2014 infill drilling as shown by the new Indicated Mineral Resource from the previous Inferred Resource grade (5.54% to 6.3% Cg COG).
- The 2014 drilling program further confirmed positive continuity of near surface, higher grade graphite within a simple geological setting, moving 11 percent of the previous Inferred resource to the Indicated resource category.
- High-grade graphite mineralization is present at the surface and has been extended to depths of over 200 m by drilling.
- The indicated resource lies within 730 m of strike length along the 4.8 km inferred resource area, further definition drilling is proposed.
- The deposit remains open along strike in both the east and west directions, as well as down dip.
The Graphite Creek Deposit is 29km (18 miles) from a seasonal road and approximately 113km (70 miles) from the port of Nome which could be accessible from the deposit by either land or water. The Graphite Creek Property comprises 129 claims totaling 6,799 hectares on the Seward Peninsula of Alaska. Mineralization at the Graphite Creek Property is characterized by coarse crystalline (large flake) graphite (greater than 80 mesh) within graphite-bearing schist(s).
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