Graphite One Resources Closes Financing, Begins Exploration at Graphite Creek

Graphite One Resources Inc. (TSXV:GPH,OTCQX:GPHOF) has commenced exploration on its wholly owned Graphite Creek deposit. The project is located near Home, Alaska.

As quoted in the press release, exploration and drilling will consist of:

Infill drill at approximately 50 meter spaced centers, with the goal being to convert a portion of the National Instrument 43-101 compliant inferred resource (NI 43-101) of 284.71 Million Tonnes at 4.5 percent Graphite (see press release dated January 16, 2014) to either indicated and/or measured categories. Integration of this data will add significant value as we work towards a Preliminary Economic Assessment (PEA) over the upcoming months;

Collect mini-bulk samples from both surface and existing drill core. This will be used to continue to develop and implement bench scale metallurgical testing. Spherical graphite is used to make the anodes in lithium-ion batteries and is manufactured from the flake concentrate produced by graphite mining operations. Natural graphite produced from mining typically has recoveries from 70 per cent to plus 90 per cent graphitic carbon, whereas synthetic graphite is usually greater than 99 per cent. With initial tests from Graphite Creek concentrates being above 99 percent graphite, the company hopes to be positioned to compete in the $13-billion (1.5 million tonnes annually) synthetic market.

Graphite One president and CEO, Anthony Huston, said:

We are very pleased with the terrific progress we have made at Graphite Creek both below surface and above surface in advancing longer lead logistical items and approvals. We continue to work very closely with all Government agencies in Alaska, being one of the United States largest and most prominent mining jurisdictions. The Graphite Creek Deposit is one of the largest known deposits in the world and by far the largest Graphite Deposit in the United States. This comprehensive program will allow the Company to achieve some great milestones towards advancing the Deposit in the coming months as we look forward to adding significant value to our stakeholders.

Click here to read the Graphite One Resources Inc. (TSXV:GPH) press release
Click here to see the Graphite One Resources Inc. (TSXV:GPH) profile.

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