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Mason Graphite Inc. (TSXV:LLG) provided an update on corporate developments, noting that since acquiring the Quebec-based Lac Guéret project in April of 2012, it has achieved a number of milestones important to moving the project toward mine development.

Mason Graphite Inc. (TSXV:LLG) provided an update on corporate developments, noting that since acquiring the Quebec-based Lac Guéret project in April of 2012, it has achieved a number of milestones important to moving the project toward mine development.

According to the press release, those milestones include:

  • Acquisition of Lac Guéret project (April 2012)
  • TSX Venture Exchange listing (October 2012)
  • Completion of a 26,500 metre drilling program (2012)
  • Completion of an initial NI 43-101 mineral resource estimate (July 2012)
  • Results from initial metallurgical test work (February 2013) *see press release dated February 22, 2013
    •  Graphite recoveries in excess of 96%
    • 29% large flake graphite
    • 96.3% concentrate purity (+150 mesh cumulative)
  • Completion of a Preliminary Economic Assessment (April 2013) *see complete technical report on SEDAR or masongraphite.com
    • 22 years of production at 27.4% Cgr (LOM)
    • Direct capital costs of $89.9M
    • Production costs of $390/tonne
  • Completion of a $5 million financing (June 2013)
    • $24,233,210 raised since April 2012
  • Receipt of purification test results (September 2013)

Click here to read the full Mason Graphite Inc. (TSXV:LLG) press release.

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