Graphite One Reports Final Set of High-Grade Graphite Results from Summer 2023 Drilling Program Results Confirm this High-Grade Deposit Remains Open to Both East and West and Down Dip
Graphite One Reports Final Set of High-Grade Graphite Results from
Summer 2023 Drilling Program
Results Confirm this High-Grade Deposit Remains Open to Both East and West and Down Dip
VANCOUVER, BC
,
Jan. 8, 2024
/CNW/ -
Graphite One Inc.
(TSXV: GPH) (OTCQX: GPHOF)
("Graphite One" or the "Company")
is pleased to
announce completion of assay results from the Company's 2023 summer drilling program, which marked the largest exploration program in the Company's
history and put Graphite One on track to accelerate the completion of a compliant Feasibility Study as defined by National Instrument 43-101 – Standards of
Disclosure for Mineral Project ("NI 43-101").
These assays were received following the Company's
October 23, 2023
press release
1
announcing the initial assay results from the 2023 drilling program.
Select drill holes with significant graphite mineralization include:
23GC110 returned
9.40 m
of 13.87% Cg
from
10.36 m
23GC127 returned
6.48 m
of 19.02% Cg
from
47.4 m
and
10.14 m
of 12.3% Cg
from
61.56 m
23GC115 returned
11.92 m
of 7.07% Cg
from
53 m
23GC103 returned
9.90 m
of 7.7% Cg
from
0.1 m
23GC105 returned
6.00 m
of 12.54% Cg
from
107 m
"We are pleased with the continued consistency in the quality of the assay results from our 2023 drilling program," said
Anthony Huston
, President and CEO
of Graphite One. "We see these results as another indication that Graphite Creek is a truly generational strategic resource for a world hungry for graphite,
and we continue to strengthen our position to deliver a feasibility study in late 2024."
As previously reported in the
October 23, 2023
press release, all 52 resource definition holes drilled during the 2023 summer drilling program intersected
visual graphite mineralization and continued to demonstrate exceptional consistency of a near-surface, high-grade graphite deposit that remains open east,
west and down dip of the existing mineral resource estimate.
Last year, the US Geological Survey (USGS), in its report titled "Insights into the Metamorphic History and Origin of Flake Graphite Mineralization at the
Graphite Creek Graphite Deposit,
Seward Peninsula
,
Alaska, USA
,"
2
stated that:
"The Graphite Creek graphite deposit, located in the Kigluaik Mountains 60 km north of
Nome
on the
Seward Peninsula
,
Alaska
, is the largest known
flake graphite resource in the
USA
and is among the largest in the world."
1
https://www.graphiteoneinc.com/graphite-one-completes-extensive-2023/
2
https://pubs.usgs.gov/publication/70240990
The USGS report was based on data from the exploration of less than 7% of Graphite Creek's 16-kilometer-long deposit.
Geophysical Anomaly
(CNW Group/Graphite One Inc.)
Notable intercepts received since the
October 23, 2023
press release are listed in Table 1 below and will be incorporated into the Department of Defense
DPA-supported Feasibility Study, which is anticipated to be released in the fourth quarter of 2024.
Table 1: Summary of Additional 2023 Assay Results with Notable Intercepts
Hole ID
Intercept
From
(m)
To
(m)
Length
(m)
Length
(ft)
C-
Graphite
(%)
Containing
23GC101
1
96.47
104.00
7.53
24.7
9.67
2.00 m @ 12.55%
23GC103
1
0.10
10.00
9.90
32.5
7.70
23GC105
1
62.97
72.00
9.03
29.6
6.64
23GC105
2
107.00
113.00
6.00
19.7
12.54
3.00 m @ 15.30%
23GC106
1
23.00
29.00
6.00
19.7
7.47
23GC106
2
84.00
91.00
7.00
23.0
9.53
2.00 m @ 12.15%
23GC109
1
21.64
28.00
6.36
20.9
7.75
23GC110
1
10.36
19.76
9.40
30.8
13.87
3.51 m @ 25.16%
23GC110
2
52.15
58.97
6.82
22.4
9.69
2.85 m @ 14.45%
23GC114
1
83.82
90.00
6.18
20.3
9.71
23GC115
1
53.00
64.92
11.92
39.1
7.07
23GC122
1
84.00
90.00
6.00
19.7
7.67
23GC127
1
47.40
53.88
6.48
21.3
19.02
3.59 m @ 29.92%
23GC127
2
61.56
71.70
10.14
33.3
12.30
6.95 m @ 13.50%
Parameters: Notable interval defined as > 6% Graphite, Minimum Interval = 6 m, Maximum length of internal dilution = 1.5 m
Technical Disclosure/Qualified Person
Mr.
Rob Retherford
, P. Geo, with Alaska Earth Sciences, Inc. provided oversite to the 2023 drilling and sampling program. Mr. Retherford is a Qualified
Person as defined under NI 43-101 and has reviewed and approved the technical content of this release.
QA/QC Program Applied
Graphite One maintains a rigorous QA/QC program with respect to the preparation, shipping, analysis and checking of all samples and data from the
Property. Quality control for drill programs at the Company's projects covers the complete chain of custody of samples, including verification of drill hole
locations (collar surveys and down-hole directional surveys), core handling procedures (logging, sampling, sample shipping) and analytical-related work,
including duplicate sampling, "check analyses" at other laboratories and the insertion of standard and blank materials. The QA/QC program also includes data
verification procedures.
Graphite One's Supply Chain Strategy
With
the United States
currently 100 per cent import dependent for natural graphite, Graphite One is planning to develop a complete U.S.-based, advanced
graphite supply chain solution anchored by the Graphite Creek resource. The Graphite One Project plan includes an advanced graphite material and battery
anode manufacturing plant to be sited in the contiguous
United States
. The plan includes a recycling facility to reclaim graphite and the other battery
materials, to be co-located at the site, the third link in Graphite One's circular economy strategy.
About Graphite One Inc.
GRAPHITE ONE INC. (TSX
V: GPH; OTCQX: GPHOF) 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 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 sixty (60) kilometers north of
Nome, Alaska
, would be processed into concentrate at an adjacent processing plant. Natural and artificial graphite anode 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 to be located in the contiguous United States. The Company intends to make a production decision on the Project upon the completion of a 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.
This release includes certain statements that may be deemed to be forward-looking statements. Other than statements of historical facts, all statements in
this release that address timing of issuance of a NI 43-101 Feasibility Study, receipt of regulatory approvals, exploration drilling, exploitation activities 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 no 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 the receipt of all necessary regulatory approvals, 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
.
View original content to download multimedia:
https://www.prnewswire.com/news-releases/graphite-one-reports-final-set-of-high-grade-graphite-results-from-summer-2023-drilling-program-302027594.html
SOURCE
Graphite One Inc.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/January2024/08/c7501.html
%SEDAR: 00025247E
For further 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]
CO: Graphite One Inc.
CNW 07:00e 08-JAN-24