GPH: TSX‐V GPHOF: OTCQX graphiteoneinc.com Graphite One Completes 2021 Field Program at 100% Owned Graphite Creek Deposit, Alaska 2021 Drilling Continues to Encounter Visible Graphitic Mineralization over Wide Intersections from Surface
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Graphite One Completes 2021 Field Program at
100% Owned Graphite Creek Deposit, Alaska
2021 Drilling Continues to Encounter Visible Graphitic Mineralization over Wide
Intersections from Surface
October 13, 2021 – Vancouver, British Columbia –Graphite One Inc. (GPH: TSX‐V;
GPHOF: OTCQX) (“Graphite One” or the “Company”) is pleased to announce that it has
completed the 2021 field program (“Field Program”) at its 100% owned Graphite Creek
project in Alaska. The Field Program included infill and step out core drilling in the
resource area and additional core and sonic drilling for geotechnical data collection in the
proposed mill site and dry tailings/waste rock storage areas. Other work included access
route engineering, surface water and groundwater hydrology studies, wetlands mapping
and aquatic life surveys.
A total of 2,052 meters were drilled during the 2021 program including 1,695 meters of HQ
core drilling and 357 meters of sonic drilling. Results from 8-hole core holes completed in
the resource area are expected to be released in Q1 2022 when data analysis is
completed. Additional core drilling was completed to collect detailed geotechnical
information for open pit and mills site engineering, and for groundwater investigations. The
5 sonic holes completed in the dry tailings/waste rock storage area will provide detailed
geotechnical information to advance the engineering of these facilities. The drill program
will generate additional information to update the resource model and provide technical
data for the project’s Feasibility Study (“FS”) expected to be initiated in 2022. The
Company’s Preliminary Feasibility Study (“PFS”) is progressing and scheduled for release
later this year.
2021 core drilling in the deposit area continued to encounter visible graphitic mineralization
over wide intervals consistent with previous drilling results as reported in 2019 and in the
2017 Preliminary Economic Assessment (“PEA”).
“With the recent CDN $21 million in funding, our efforts have progressed towards
completion of the PFS for the largest known and highest-grade graphite deposit in the
United States,” said Anthony Huston, CEO of Graphite One. “The 2021 Field Program also
initiated the drilling and additional data collection needed to begin work on the FS after the
PFS is completed. We are very pleased with the successful execution of the 2021 Field
Program, as historical drilling coupled with the new data clearly demonstrates the
predictability and consistency of high-grade, near surface graphite. With the concepts and
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conclusions outlined in the PEA suggesting a 40-year mine life, the Graphite Creek deposit
continues to show potential to be an essential long-life component of the graphite supply
chain, one of four critical minerals that are on the US National Defense stockpile list. While
the PEA demonstrated the project’s economic viability, we expect these further studies with
their optimized plans for the mine and processing facilities to support improved economics.”
Mr. William Ellis, P. Geo, with Alaska Earth Sciences provided oversite to the 2021 drilling
and sampling program. Mr. Ellis is a Qualified Person as defined under NI 43-101 and has
reviewed and approved the technical content of this release. Strict protocols for quality
assurance and quality control were maintained through the sampling process and included
the insertion of standards and blanks in the sample stream.
About Graphite One Inc.
GRAPHITE ONE INC. (GPH: TSX‐V; GPHOF: OTCQB) continues to develop its Graphite
One Project (the “Project”), whereby the Company could potentially become an American
producer of high grade Coated Spherical Graphite (“CSG”) that is integrated with a
domestic graphite resource. The Project is proposed as a vertically integrated enterprise to
mine, process and manufacture high grade CSG primarily for the lithium ‐ion electric vehicle
battery market. As set forth in the Company’s Preliminary Economic Assessment, potential
graphite mineralization mined from the Company’s Graphite Creek Property, is expected to
be processed into concentrate at a graphite processing plant. The proposed processing
plant would be located on the Graphite Creek Property situated on the Seward Peninsula
about 60 kilometers north of Nome, Alaska. CSG and other value‐added graphite products,
would likely be manufactured from the concentrate at the Company’s proposed graphite
product manufacturing facility, the location of which is the subject of further study and
analysis. The Company intends to make a production decision on the Project once a
feasibility study is completed.
On Behalf of the Board of Directors
"Anthony Huston” (signed)
For more information on Graphite One Inc., please visit the Company’s website,
www.GraphiteOneInc.com or contact:
Anthony Huston
CEO, President & Director
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Tel: (604) 889-4251
Email: [email protected]
Investor Relations Contact
Tel: (604) 684-6730
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be forward-looking
statements. All statements in this release, other than statements of historical facts ,
including the timing and completion of the anticipated Pre-Feasibility Study, timing of the
Feasibility Study, receipt of regulatory approvals, implementation of a more established
shipment program, exploration drilling, exploitation activities, future production,
establishment of a processing plant, and events or developments that the Company
expects, are forward-looking statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or developments
may differ materially from those in the forward-looking statements. Factors that could cause
actual results to differ materially from those in forward-looking statements include market
prices, exploitation and exploration successes, continuity of mineralization, uncerta inties
related to the ability to obtain necessary permits, licenses and title and delays due to third
party opposition, changes in government policies regarding mining and natural resource
exploration and exploitation, and continued availability of capital and financing, and general
economic, market or business conditions. Readers are cautioned not to place undue
reliance on this forward-looking information, which is given as of the date it is expressed in
this press release, and the Company undertakes no obligation to update publicly or revise
any forward-looking information, except as required by applicable securities laws. For more
information on the Company, investors should review the Company's continuous disclosure
filings that are available at www.sedar.com.