Ontario Graphite Nearly Doubles Indicated Resource for Kearney Mine

Privately owned Ontario Graphite Ltd. announced that a NI 43-101 compliant mineral resource estimate, completed last month, has nearly doubled the previous indicated resource estimate for its Kearney graphite mine. The inferred mineral resource is also higher.

As quoted in the press release:

The revised estimate indicates a mineral inventory on the Kearney Mine property of 51.5 million tonnes of Indicated Mineral Resources at an average grade of 2.14 per cent carbon graphite (Cg), plus an additional 46.8 million tonnes of Inferred Mineral Resources at an average grade of 2.0 per cent Cg.

Ellerton Castor, CFO and chief administrative officer of Ontario Graphite, commented:

These new resource estimates further highlight the production potential of the Kearney Mine and secure Ontario Graphite’s position as the largest confirmed graphite mineral resource project in North America.

The new Indicated Resources alone will afford us at least 20 years of additional mine life, approaching 50-plus years of mine life assuming current nameplate mill capacity. The size of resource will enable Ontario Graphite to provide a stable and reliable source of high-quality large-flake graphite to our customers around the world.

Click here to read the full Ontario Graphite Ltd. press release.