Mason Graphite Releases Corporate Update
Charlotte McLeod - October 2nd, 2013
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.