Graphite One Announces Kick-off of 2024 Field Program Drilling program focused on gathering geotechnical data needed to complete the Feasibility Study on the largest known graphite deposit in the U.S. CEO: Graphite One is on track to meet target of issuing the Feasibility Study by
Graphite One Announces Kick-off of 2024 Field
Program
Drilling program focused on gathering geotechnical data needed to complete the Feasibility Study on the
largest known graphite deposit in the U.S.
CEO: Graphite One is on track to meet target of issuing the Feasibility Study by
December 2024
under the
terms of Department of Defense Production Act grant
VANCOUVER, BC
,
June 26, 2024
/CNW/ -
Graphite One Inc.
(TSXV: GPH) (OTCQX: GPHOF)
("Graphite One",
"G1" or the "Company"),
planning a complete domestic U.S. supply chain for advanced graphite materials,
announced today the commencement of the Company's 2024 Field Program at its Graphite Creek Property located
north of
Nome, Alaska
.
Based on the positive results of the 2023 drilling program
(link to
January 8, 2024
press release)
, the 2024 Field
Program has been developed to gather the remaining data required to complete the Company's Feasibility Study.
Three drill rigs are currently operating to gather the geotechnical information needed to engineer the pit walls and
foundations for the process facility, tailings/waste rock facility, and other infrastructure.
Graphite One is pleased that job fairs conducted in the local communities of Teller, Brevig Mission and
Nome
have
resulted in 22 of the summer positions being filled by residents of the local communities.
"The 2024 Field Program is a key milestone for our stakeholders as we advance our Feasibility Study with a
scheduled December completion target, under the terms of our Defense Production Act grant from the Department
of Defense," said
Anthony Huston
, President and CEO of Graphite One. "As the U.S. Government's US Geological
Survey has recognized Graphite Creek as the nation's largest graphite deposit, and 'among the largest in the world,'
we are confident that this year's program will further demonstrate the importance of Graphite One's complete
supply chain strategy in meeting demand for a material that is critical to the 21
st
Century technology economy and
U.S. national security."
In parallel to the drilling program, site visits and field work by the engineering team and environmental specialists are
also underway, to continue baseline studies on:
Surface water quality
Ground water quality
Hydrogeologic investigations
Bathymetric and water quality characterization of the Imuruk Basin
Fish and other aquatic species surveys
Raptor nesting
Cultural heritage/archaeological investigations
Graphite One's senior team will continue to engage the communities and tribal organizations nearest Graphite Creek
on the 2024 field program and provide a forum for dialogue on a development path that benefits local residents.
Completion of the Feasibility Study is subject to financing.
Graphite One's Domestic Supply Chain Strategy
With
the United States
currently 100 percent import dependent for natural graphite, Graphite One is developing a
complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek deposit, recognized
by the US Geological Survey as the largest graphite deposit in the U.S. "and among the largest in the world." The
Graphite One Project plan includes an advanced graphite material and battery anode material manufacturing plant
located in
Warren, Ohio
. The plan also includes a recycling facility to reclaim graphite and the other battery
materials, to be co-located at the
Ohio
site, the third link in Graphite One's circular economy strategy.
About Graphite One Inc.
GRAPHITE ONE INC. continues to develop its Graphite One Project (the "
Project
") to become an American
producer of high-grade anode materials that is integrated with a domestic graphite resource. The Project is
proposed as a vertically integrated enterprise to mine, process and manufacture anode active materials primarily for
the lithium
ion electric vehicle battery market. As set forth in the Company's 2022 Pre-Feasibility Study,
graphite mineralization mined from the Company's Graphite Creek Property, situated on the
Seward Peninsula
about 60 kilometers north of
Nome, Alaska
, would be processed into concentrate at an adjacent processing plant.
Natural and artificial graphite anode active materials and other value
added graphite products would be
manufactured from the concentrate and other materials at the Company's proposed advanced graphite materials
manufacturing facility located in northeastern
Ohio
. The Company intends to make a production decision on the
Project upon the completion of the Feasibility Study.
On Behalf of the Board of Directors
"Anthony Huston" (signed)
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.
All statements in this release, other than statements of historical facts, including those related to the anticipated
timing and results of the 2024 Field Program, timing and completion of the anticipated Feasibility Study, future
production, establishment of a processing plant and a graphite manufacturing plant, establishment of a battery
materials recycling facility, and events or developments that the Company intends, expects, plans, or proposes
are forward-looking statements. Generally, forward
looking information can be identified by the use of
forward
looking terminology such as "proposes", "expects", "is expected", "scheduled", "estimates", "projects",
"plans", "is planning", "intends", "assumes", "believes", "indicates", "to be" or variations of such words and
phrases that state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur"
or "be achieved". The Company cautions that there is no certainty that tests of the Company's material will be
successful or that such tests will result in the development of successful products. 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, uncertainties 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.sedarplus.ca
.
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SOURCE
Graphite One Inc.
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For further information:
For more information on Graphite One Inc., please visit the Company's website,
www.GraphiteOneInc.com or contact: Anthony Huston, CEO, President & Director, Tel: (604) 889-4251, Email:
[email protected]; Investor Relations Contact, Tel: (604) 684-6730, [email protected],
On Twitter @GraphiteOne
CO: Graphite One Inc.
CNW 07:00e 26-JUN-24