Graphite One (TSXV:GPH) (OTCQX:GPHOF) Announces Drill Results from 2021 Field Program at Graphite Creek and Announces Upcoming PFS
- Graphite One has announced the drill results from its 2021 field program at its Graphite Creek Project
- Highlights from 2021 drilling include 15.21 metres of 22.2% graphitic carbon (Cg)
- The company plans to incorporate these drill results into its upcoming pre-feasibility study
- The results indicate Graphite Creek’s potential as a generational domestic graphite asset in the United States
- Shares in Graphite One (GPH) are currently up 25.38% on the TSXV, trading at CA$1.63 per share
Graphite One has announced the drill results from its 2021 field program at its Graphite Creek Project in Alaska. The field program was conducted from July to October 2021 for a total of 2,150 metres of drilling, including 8 core holes and 9 geotechnical holes.
Highlights from 2021 drilling include 15.21 metres of 22.2% graphitic carbon (Cg) and other consistent, near surface high-grade intercepts, with multiple holes returning grades higher than 10% and up to 35.78% Cg.
The results further extended the mineralized zone to the north by 50 to 75 metres, and the deposit remains open down dip as well as along strike to the east and west, demonstrating Graphite Creek’s potential as a generational graphite asset in the United States.
The company plans to incorporate these drill results into its upcoming pre-feasibility study (PFS), which it expects to file within 45 days of the release of these results. The PFS will update Graphite Creek’s known mineral resource and provide new economic guidance for the company as it continues to advance the project.
“The PFS should increase confidence that Graphite Creek is a generational asset — a vital graphite resource in the United States,” said Graphite One CEO Anthony Huston.
Currently, the United States is 100% import-dependent for its graphite supply, meaning that domestic suppliers such as Graphite One are key to meeting the nation’s supply of critical battery metals like graphite for a successful energy transition.
Graphite One continues to develop its Graphite One Project, whereby the company could potentially become an American producer of high grade Coated Spherical Graphite as used in EV and lithium-ion batteries, as well as other forms of advanced graphite materials.
Shares in Graphite One (GPH) are currently up 25.38% on the TSXV, trading at CA$1.63 per share as of 3:59 pm EST.
On the OTCQX, GPHOF is up 23.63% to US$1.294 per share.
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