Mining News: News Nuggets: Graphite Creek resource gets upgrade

Graphite One Resources Inc. March 17 provided an updated resource estimate for its Graphite Creek deposit near Nome of 17.95 million metric tons indicated resources grading 6.3 percent graphitic carbon and 154.36 metric tons of inferred resources at 5.7 percent graphitic carbon. Graphite One said the continuity and simple geology of the near-surface deposit has allowed the company to outline a large graphite deposit with only 48 holes of drilling. The 2014 drill program increased the vertical and lateral drill-spacing along a 730-meter portion of the 4,800-meter-long Graphite Creek deposit. The updated mineral resource will provide the basis for a preliminary economic assessment for Graphite Creek, scheduled to be completed in the second quarter of this year. “With this updated mineral resource estimate, we have the basis for developing our initial PEA, and the foundation for an infill drill program in 2015 to bring additional resources into the measured and indicated category. The metallurgical samples we obtain will help us further refine our knowledge of the recovery and size distribution of our unique deposit and position Graphite Creek as a new source for the growing graphite market,” said Graphite One President and CEO Anthony Huston.

- Shane Lasley