Nov 11 2014
Graphite One Resources Inc. is pleased to announce it has completed its 2014 field program.
Highlights
- 20 diamond core drill holes completed to evaluate vertical and lateral continuity of the graphite mineralization
- Drilling will be utilized to move a portion of the resource from inferred to indicated status
- 2 metallurgical diamond drill holes completed for bench test samples
- All 22 holes noted to have visible graphite mineralization
- Fully funded and on schedule to complete inaugural PEA on Graphite Creek Deposit
In total, twenty-two diamond drill holes were completed amounting to 2,296.6 meters. Drill holes were typically spaced about 50 meters apart horizontally along the strike of the mineralized beds, with two or more holes drilled on 11 sections through the mineralization. The 2014 drill program was designed to infill between previous drill holes utilized in the 2014 inferred resource to increase the confidence in the continuity and distribution of the graphite mineralization. All drill holes will be logged and sampled from top to bottom. All drill holes were noted as having visible graphite mineralization.
The results of the 2014 drilling will be used to produce an update to the resource estimate for Graphite Creek, and to refine the existing inferred resource of 284.71 Mt of 4.5% graphite including 37.68 Mt at 9.2% graphite and 8.63 Mt at 12.8% graphite (see news release dated January 20, 2014). The deposit still remains open along strike both east and west and at depth. Graphite One has its own core logging and sample preparation facility in Nome, Alaska. The sample preparation laboratory is managed by Activation Laboratories (Actlabs), Ancaster, Ontario. Graphite One maintains the highest level of Quality Assurance/Quality Control (QA/QC) and the prep lab ensures timely receipt of analytical results while reducing shipping costs for the drill program samples.
In addition to the twenty resource estimation drill holes, two drill holes were completed to provide core samples of the two principle zones of mineralization for advance metallurgical test work to be completed over the winter. The two holes were drilled into separate areas of the deposit and will be utilized to evaluate the milling parameters of differing styles of mineralization seen at Graphite Creek, as well as to test various potential head grades of graphite mineralization.
The highest grade and near surface Zone 1 mineralization ranges from 3% to 12% graphite and is hosted by the garnet-graphite-sillimanite-biotite schist and is volumetrically the largest of the mineralized zones. The Zone 2 mineralization ranges from 3% to 7% graphite and consists of biotite-graphite-schist (see news release and technical report of January 20, 2014).
Metallurgical test work will include optimization flotation studies at varied head grades and mineralization styles, followed by additional upgrading test work on several graphite product lines for both high-end spherical graphite and large flake graphite.
"We are pleased to have completed another successful drill campaign and look forward to increasing our understanding of the already impressive resource at the Graphite Creek deposit. It is the largest flake graphite deposit in North America and the United States' only advanced large flake graphite deposit. Completing this program puts us in the position to finalize our preliminary economic assessment to demonstrate to the market how robust the project will be," stated Anthony Huston, President, Chief Executive Officer and Director for Graphite One.
Source: http://www.graphiteoneresources.com/