South Star Battery Metals Announces Maiden Mineral Resource Estimate for the BamaStar Graphite Project in Coosa County Alabama, USA

South Star Battery Metals Announces Maiden Mineral Resource Estimate for the BamaStar Graphite Project in Coosa County Alabama, USA

Highlights:

  • 520,000 tonnes of contained graphite with an open pit-constrained mineral resource estimate of 22M tonnes of inferred resources at an average grade of 2.4% (Cg), based on a 1.1% cut-off grade.
  • Estimate is based on 12 drill holes totaling 506m of HQ diamond drilling completed in 2022.
  • The mineral resource estimate confirms the significant potential of this historical mine with graphite mineralization open at depth and in both directions (NE & SW).
  • The mineral resource estimate and initial open pit optimization confirms the deposit is amenable to open pit mining operations with at-surface mineralization and low strip ratios.
  • The next drilling program (2,000- 2,500m ) is under contract and planned to begin in May 2023 to support a NI43-101 Preliminary Economic Assessment( PEA) planned for Q1 of 2024.

South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBD), is pleased to announce the successful completion of its maiden mineral resource estimate ("MRE") for the BamaStar Graphite Project located in Coosa County, Alabama United States (the "Project"). The independent mineral resource estimate was prepared by Caracle Creek International Consulting Inc. in accordance with Canadian Securities Administrators' National Instrument 43-101.

South Star Battery Metals Announces Maiden Mineral Resource Estimate for the BamaStar Graphite Project in Coosa County Alabama, USA (CNW Group/South Star Battery Metals Corp.)

Richard Pearce , CEO of South Star, commented, "The BamaStar maiden mineral resource estimate is a fantastic result and confirms the potential for a significant deposit at this historical mine with at-surface mineralization that should be amenable to open pit mining techniques and low strip ratios. It's one of two projects in the continental United States with a defined mineral resource estimate. The preliminary drilling program was designed to test limits and continuity, and the team successfully achieved those objectives. We have successfully completed our 3-tonne pilot plant metallurgical testing program confirming our process flowsheet and recoveries. We have contracts signed for the next drilling program expected to begin around May 2023 , and we are planning to get a NI 43-101 PEA completed by Q1 of 2024. The PEA will present our strategic plan of two mines, each producing 50,000 tonnes per year of concentrates, feeding a centrally located, value-add plant in the southeast United States and producing active anode material for electric vehicles, as well as purified/micronized and expandable graphite products. South Star has two scalable assets in strategic, stable, mining-friendly jurisdictions and the team to build and operate them in a safe responsible manner in partnership with communities and stakeholders. It's happening at the perfect time, when supply is constrained and demand is outstripping supply. This dynamic will be putting significant pressure on the graphite price in 2023 and for the foreseeable future. Santa Cruz will have the first new graphite production in the Americas since 1996 this year, and BamaStar is expected to be producing in 2027."

Mineral Resource Estimate

https://www.southstarbatterymetals.com/ydihapto/2023/03/fig13-10-23.png

Table 1, Mineral Resource Statement: Open Pit-Constrained Resources (1.1% Cg cut-off grade).




Mineral Resource
Category

Zone

Density
(glcm3)

Tonnes
(M)

Graphitic Carbon
(% Cg)

In-Situ Graphite
(t)


Central

2.64

11

2.4

260,000

Inferred

North

2.60

11

2.3

260,000


Totals:

2.62

22

2.4

520,000


Table 2. Un-constrained Inferred Mineral Resources (1,1% Cg cut-off grade).


Mineral Resource
Category

Zone

Density
(gfcm)

Tonnes
(M)

Graphitic Carbon
(% Cg)

In-Situ Graphite
(t)


Central

2.64

11

2.5

270,000

Inferred

North

2.61

12

2.3

280,000


Total:

2.62

23

2.4

540,000


Notes to Table 1 and Table 2 (#7 does not apply to Table 2)   :
  1. The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is Mr. Simon Mortimer , (FAIG #7795) of Atticus Geoscience Consulting S.A.C., working with Caracle Creek International Consulting Inc. The effective date of the Mineral Resource Estimate is March 7, 2023 .
  2. These Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated. However, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. Slight differences may occur due to rounding.
  3. Mineralized domains were based on lithological contacts. A cut-off grade of 1.0% graphitic carbon (Cg) was used for defining the mineralised domain, which was determined on the basis of core, surface trench, and surface sample pit assay geostatistics and drill core lithologies for the deposit.
  4. Geological and block models for the Mineral Resource Estimate used data from a total of 12 surface diamond drill holes (core), 29 trenches, and 90 surface sample pits. The drill hole database was validated prior to resource estimation and QA/QC checks were made using industry-standard control charts for blanks, core duplicates and commercial certified reference material inserted into assay batches by South Star Battery Metals.
  5. Quantities and grades in the Mineral Resource Estimate are rounded to an appropriate number of significant figures to reflect that they are estimations. Slight differences may occur due to rounding.
  6. An economic cut-off grade of 1.1% graphitic carbon (Cg) was calculated and applied to the resource block model for reporting purposes.
  7. The mineral resource estimates (Central and North zones) were constrained by conceptual pit envelopes using the following optimization parameters, as provided by South Star Battery Metals, and agreed to by the QP. Commodity prices used were (US$) $7,770 /t graphite, pit slopes of 34 degrees in oxide and 54 degrees in fresh rock. Mining and processing costs (US$) were based on benchmarking from similar deposit types, utilizing a mining cost of $2.25 /t (oxide) and $2.75 /t (fresh rock), recovery of 97.2% graphite, with processing cost of $76.12 /t (oxide) and $78.10 /t (fresh rock), and a G&A cost of $2.00 /t. Pit optimization was performed using Datamine's Studio NPVS software.
  8. The geological model comprises one mineralized domain split into five solids due to faulting, they are hosted by quartzites and sillimanite gneisses both with quartz veins and graphite lenses up to 40 m wide. Individual wireframes were created for each domain.
  9. The block model was prepared using Leapfrog Edge. A 15 m x 15 m with variable height block model was created and samples were composited at 1.0 m intervals. Grade estimation for graphite used data from trench and drill hole data and was carried out using Inverse Distance Squared Weighting.
  10. Grade estimation was validated by comparison of input and output statistics (Nearest Neighbour method), swath plot analysis, and by visual inspection of the assay data, block model, and grade shells in cross-sections.
  11. Density assignation was carried out for the mineralization domain using flat density by weathering domain, on the basis of 37 specific gravity measurements collected in 14 surface locations, and 51 specific gravity measurements collected during the core logging process, the average estimated density value within the strong weathering is 2.32 g/cm3 (t/m3), moderate weathering is 2.47 g/cm3 (t/m3), weak weathering is 2.62 g/cm3 (t/m3), while the fresh rock domain of the resource model yielded 2.80 g/cm3 (t/m3).
  12. The Mineral Resource Estimate was prepared following the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines ( November 29, 2019 ).
  13. The NI 43-101 Mineral Resource Estimate and Technical report will be filed on Sedar within 45 days of this press release.
Drill Data & Assay Results

Assay samples were sent to ActLabs and graphitic carbon (% Cg) was tested using LECO analysis. Actlabs is an accredited independent laboratory with the ISO 9001:2015 & ISO/IEC 17025:2017 registrations. Refer to the Company's Press Release dated January 12, 2023 for additional details on completed drilling and assay programs.

South Star Battery Metals Corp. is a Canadian battery metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial and battery metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (>30t) has been completed. The results of the testing show that approximately 65% of Cg concentrate is +80 mesh with good recoveries and 95%-99% Cg. With excellent infrastructure and logistics, South Star is fully funded for Phase 1, and the 12-month construction and commissioning are underway. Santa Cruz will be the first new graphite production in the Americas since 1996 with Phase 1 commercial production projected in Q4 2023. Phase 2 production (25,000tpy) is partially funded and planned for 2026, while Phase 3 (50,000tpy) is scheduled for 2028.

South Star's second project in the development pipeline is strategically located in Alabama in the center of a developing electric vehicle, aerospace and defense hub in the southeastern United States.  The BamaStar Project is a historic mine active during World Wars I & II.  Trenching, phase 1 drilling, sampling, analysis, and preliminary metallurgical testing have been completed. The testing indicates a traditional crush/grind/flotation concentration circuit that achieved grades of approximately 94-97% Cg with approximately 86% recoveries. South Star is executing on its plan to create a multi-asset, diversified battery metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF.

South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles based on transparency, stakeholder engagement, ongoing education, and stewardship. To learn more, please visit the Company website at https://www.southstarbatterymetals.com .

The technical and scientific information related to geology and mineral resource estimate in this news release has been reviewed and approved by Mr. Simon Mortimer (FAIG #4083) of Atticus Geoscience Consulting S.A.C. and Dr. Scott Jobin-Bevans (P.Geo. #0183) of Caracle Creek International Consulting Inc. Mr. Mortimer and Dr, Jobin-Bevans are both a Qualified Person as defined by National Instrument 43-101 and are independent of South Star Battery Metals.

This news release has been reviewed and approved by Richard Pearce, P.E., a "Qualified Person" under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp.

On behalf of the Board,

Mr. Richard Pearce
Chief Executive Officer
For additional information, please contact:
  South Star Investor Relations
  Email: invest@southstarbatterymetals.com
+1 (604) 706-0212

Twitter: https://twitter.com/southstarbm
Facebook: https://www.facebook.com/southstarbatterymetals
LinkedIn: https://www.linkedin.com/company/southstarbatterymetals/
YouTube: South Star Battery Metals - YouTube

CAUTIONARY STATEMENT

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

FORWARD-LOOKING INFORMATION

This press release contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this press release include, but are not limited to, statements regarding: moving Santa Cruz into production and scaling operations as well as advancing the Alabama project;   and   the Company's plans and expectations.

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/south-star-battery-metals-announces-maiden-mineral-resource-estimate-for-the-bamastar-graphite-project-in-coosa-county-alabama-usa-301769494.html

SOURCE South Star Battery Metals Corp.

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/March2023/13/c5961.html

News Provided by Canada Newswire via QuoteMedia

STS:CA
The Conversation (0)
South Star Announces Additional Sales of Natural Flake Graphite Concentrate to U.S. Customer

South Star Announces Additional Sales of Natural Flake Graphite Concentrate to U.S. Customer

Advancing the First New Natural-Flake Graphite Mine in the Americas this Century

South Star Battery Metals CORP. ("South Star" or the "Company") (TSXV:STS)(OTCQB:STSBF) is pleased to announce that, further to the Company's May 6, 2024 announcement ("South Star Battery Metals Announces the First Sale of Natural Flake Graphite Concentrate from its Santa Cruz Graphite Mine in Brazil") and its August 1, 2024 announcement ("South Star Announces Successful Product Qualification and 100-Tonne Sale of Natural Flake Graphite Concentrate to U.S. Customer"), South Star has executed another binding commercial sales agreement (the "Agreement") for an initial 40 tonnes (more than 88,000 pounds) of natural-flake graphite concentrate from the Company's flagship Santa Cruz Graphite Mine("Santa Cruz"), located in northeastern Brazil's Bahia state. This most recent sales Agreement was formally executed with a prominent American industrial graphite customer (the "U.S. Client

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
South Star Announces Successful Product Qualification and 100-Tonne Sale of Natural Flake Graphite Concentrate to U.S. Customer

South Star Announces Successful Product Qualification and 100-Tonne Sale of Natural Flake Graphite Concentrate to U.S. Customer

South Star advancing the first new natural-flake graphite mine in the Americas this century.

South Star Battery Metals CORP. ("South Star" or the "Company") (TSXV:STS)(OTCQB:STSBF) is pleased to announce that further to the Company's May 6, 2024 announcement ("South Star Battery Metals Announces the First Sale of Natural Flake Graphite Concentrate from its Santa Cruz Graphite Mine in Brazil"), South Star has executed another binding commercial sales agreement (the "Agreement") for the initial purchase of 100 tonnes (more than 220,000 pounds) of graphite concentrate from the Company's flagship Santa Cruz Graphite Mine ("Santa Cruz"), located in northeastern Brazil's Bahia state

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
South Star Announces Substantial Completion and Commissioning of the Santa Cruz Phase 1 Graphite Mine in Brazil

South Star Announces Substantial Completion and Commissioning of the Santa Cruz Phase 1 Graphite Mine in Brazil

Highlights

  • Mine prestrip, preliminary dump foundations and ramps are complete, and approximately 50,000 tonnes of ore is being placed on the ore pad by end of August for commissioning and initial operations.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
South Star Battery Metals Announces Successful Metallurgical Results for its BamaStar Graphite Project in Alabama, USA

South Star Battery Metals Announces Successful Metallurgical Results for its BamaStar Graphite Project in Alabama, USA

Highlights:

  • Metallurgical work completed on representative oxide, transition and fresh rock composite samples ranging in grade from 2.36% Cg for fresh rock to 3.04% Cg for oxide samples.
  • Bond abrasion and work index testing show low to medium abrasion and low energy requirements.
  • Open circuit flotation tests resulted in excellent concentrates grade ranging from 94.4% Cg for fresh rock materials to 99.5% Cg for oxide samples with a simple flowsheet that maximizes graphite recovery and minimizes flake degradation.
  • The open circuit graphite recoveries were high, ranging between 87.5% and 91.5%.
  • Given the superior response of the oxide and transitional material, the next phase of work will investigate mining pit design to maximize processing of oxide and transitional material early in the project life and postpone mining of the fresh ore in order to decrease initial CAPEX, lower OPEX and target improved project economics.
  • The NI43-101 Preliminary Economic Assessment results for BamaStar are scheduled for release in August 2024.

South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV:STS)(OTCQB:STSBF) is pleased to announce successful results from the ongoing metallurgical process development program for the Bama Star graphite project in Alabama, USA

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
South Star Battery Metals Announces Land Purchase, Construction Update, and the Approval of the Definitive Mining Licenses For Phases 1, 2 & 3 for its Santa Cruz Graphite Mine in Brazil

South Star Battery Metals Announces Land Purchase, Construction Update, and the Approval of the Definitive Mining Licenses For Phases 1, 2 & 3 for its Santa Cruz Graphite Mine in Brazil

Santa Cruz Graphite Mine Highlights:

  • Final payment of land purchase for Phase 1 Plant and Operations.
  • Approval of the Definitive Mining Licenses For Phases 1, 2 & 3. All mining and environmental licenses/permits are approved and in-hand for the future phased, modular expansion of Santa Cruz graphite production up to 50,000 tonnes/year.
  • Phase 1 construction is on schedule for substantial completion by the end of June 2024 followed by a 6-week plant commissioning and ramp-up period. Commercial sales are planned to start in September 2024. Name plate production capacity is expected to be reached in Q4 2024.

South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV:STS)(OTCQB:STSBF) is pleased to announce the final payment of the previously announced (Aug. 02, 2022) land purchase required for construction of the Phase 1 mine and plant facilities. The farm totals approximately 325 hectares and is where all the plant facilities, mine and infrastructure installations are required for the first three years of operations at its Santa Cruz Graphite Project in Bahia, Brazil

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Evolution Energy Minerals Limited

Appointment of Chief Executive Officer

Evolution Energy Minerals Limited (Evolution or the Company) (ASX: EV1, FSE: P77) is pleased to announce the appointment of George Donne as Chief Executive Officer, effective immediately. Mr. Donne brings over 20 years of expertise in the mining sector, with a distinguished career spanning corporate finance advisory, private equity and executive roles in both public and private mining companies. His background includes extensive work in developing markets across multiple commodities, particularly base metals and lithium-ion battery raw materials. With hands-on experience in mergers and acquisitions, corporate financing, investor relations and governance, Mr. Donne is well-positioned to lead Evolution’s strategic growth.

Keep reading...Show less
E-Power Resources (CSE:EPR)

E-Power Resources


Keep reading...Show less

NMG Provides Update on its Progress Toward FID for its Fully Integrated Ore-to-Active-Anode-Materials Phase-2 Operations

  • Integrated feasibility study for NMG's Phase-2 Matawinie Mine and Bécancour Battery Material Plant advancing to optimize production parameters, engineering, and cost projections, with the updated results expected early in Q1-2025.
  • Active work with Anchor Customers Panasonic Energy and GM to advance product qualification, project execution, commercial, and corporate requirements associated with the respective offtake agreements with a view to underpin Phase-2 development.
  • On-going project financing activities for the Company's Phase 2 including cumulative expressions of interest for approximately $1.4 billion comprised of potential lenders, Anchor Customers and institutional equity investors.
  • Eligibility to a refundable investment tax credit from the Canadian government estimated at about $350 million for the Phase-2 facilities.
  • Detailed engineering of Phase-2 facilities progressing with key engineering firms, supporting the preparation of purchase orders for vendor engineering and long-lead items.
  • Electrification program progressing well; Matawinie Mine's 120kV electrical substation contract awarded to ABB, construction planning underway for the powerline to supply the mine with clean hydropower, and development of zero-emission mining equipment by Caterpillar Inc. ("Caterpillar").
  • Even in the pressured market, 11.2% year-to-date gain on graphite prices (Benchmark Mineral Intelligence, September 2024) and 11.5 million EV sales (Rho Motion, October 2024); GM's EV production and sales in North America are growing significantly (GM, October 2024).
  • Appointment of Stéphane Leblanc to the Board of Directors and Karine Doucet to the position of Vice President Human Resources.
  • Continued engagement with First Nations and community to inform project execution and maximize local benefits.
  • Twelve-month rolling total recordable injury frequency rate of 1.73 and severity rate of 0.86 at the Company's facilities; and no major environmental incidents.
  • Period-end cash position of $56.5 million.

Nouveau Monde Graphite Inc. ("NMG" or the "Company") ( NYSE: NMG , TSX.V: NOU ) reports progress update on its multiple workstreams to bring its Phase-2 Matawinie Mine and Bécancour Battery Material Plant to a Final Investment Decision ("FID"). The Company is actively advancing its integrated feasibility study, engaging with its Anchor Customers Panasonic Energy Co., Ltd. ("Panasonic Energy"), a wholly owned subsidiary of Panasonic Holdings Corporation ("Panasonic") ( TYO: 6752 ), and General Motors Holdings LLC, a wholly owned subsidiary of General Motors Co. (collectively, "GM") ( NYSE: GM ), ongoing project financing activities, and preparing for the construction of its Phase-2 operations.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Altech Batteries

Altech – $4M Placement to Advance Battery Projects

Altech Batteries Limited (Altech/Company) (ASX: ATC) (FRA: A3Y) announces a capital raising of $4 million, comprising the issue of 66,666,667 fully paid ordinary shares in the capital of the Company at an issue price of $0.06 per Share. This price is a premium of 50% of the issue price to the Company’s shareholders in the recent Entitlement Offer conducted on 7 August 24. Participants in the placement will also receive free attaching listed options (ASX: ATCOC) of 1 option for every 1 share issued with an exercise price of $0.06 and expiry date of 31 December 2025.

Keep reading...Show less
Person signing agreement with hard hat in background.

International Graphite Gets AU$4.5 Million Grant for Collie Micronising Facility

International Graphite (ASX:IG6) has secured a AU$4.5 million government grant that will fund the construction of its Collie micronising facility, the company said in a press release on Tuesday (November 12).

The amount will be funded under the Australian Government Critical Minerals Office grant.

“We are excited to be pushing ahead with the construction of the new plant at Collie. Establishing a micronising business in Collie has been an important step in our development plans,” said CEO and Managing Director Andrew Worland.

Keep reading...Show less
Altech Batteries

Altech Batteries Limited (ASX: ATC) – Trading Halt

Description

The securities of Altech Batteries Limited (‘ATC’) will be placed in trading halt at the request of ATC, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Friday, 15 November 2024 or when the announcement is released to the market.

Keep reading...Show less

Latest Press Releases

Related News

×