Graphite One Resources (GPH.V) has released the final five holes of a ten hole drill program on its Graphite Creek project in Alaska, USA. Drilling has now confirmed a total strike length of approximately 4.8 kilometers which is twice as much as the strike length where the current resource estimate of 165Mt at almost 5% graphite was based on. An updated resource estimate is expected later this month, and we expect a substantial increase in the resources at Graphite Creek.
Unfortunately, the upcoming resource estimate will very likely still underestimate the true size of the project, as all most recent holes ended in mineralization which suggests the graphite mineralization continues at depth and could add a considerable amount of tonnes to the resource estimate.
As the infrastructure at the project is excellent (there’s a deep sea water port expected to be built just 30 km away), Graphite One seems to be one of the few graphite companies which really have a chance to become one of the world suppliers.
> Click here to read the press release
Disclosure: The author holds no position in Graphite One at this moment. Please see our disclaimer for current positions.
