Graphite One drills 13.87% Cg over 9.4 metes at Graphite Creek, Alaska

Graphite One Inc. [TSXV-GPH; OTCQX-GPHOF] has completed assay results from the company’s 2023 summer drilling program at Graphite Creek, Alaska, 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 NI 43-101, Standards of Disclosure for Mineral Projects.

These assays were received following the company’s October 23, 2023 press release announcing the initial assay results from the 2023 drilling program. Select drill holes with significant graphite mineralization include: 23GC110 returned 9.40 metresof 13.87% Cg from 10.36 metres. 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. “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,” 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.”

The USGS report was based on data from the exploration of less than 7% of Graphite Creek’s 16-km-long deposit.

The Department of Defense DPA-supported Feasibility Study is anticipated to be released in the fourth quarter of 2024.

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.

Graphite One continues to develop its Graphite One 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 60 km 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.