Aben Resources starts exploring Slocan graphite project, British Columbia
Aben Resources Ltd. [ABN-TSXV; ABNAF-OTCQB; E2L-FSE] reports initial fieldwork has begun on 2,826-hectare Slocan graphite project located 34 km northwest of Castlegar, southeastern British Columbia. Field reconnaissance, mapping, rock sampling, and evaluation of prospective drill sites for a potential fall drill program are the focus of this phase of exploration.
Aben has sourced a drill contractor and the requisite personnel to facilitate drill-testing of the Slocan Graphite Property pending successful receipt of their Multi Year Area Based exploration permit currently under review by the provincial government. The project benefits from excellent infrastructure including forestry road access to the property, high-voltage transmission line within 1.2 km of the property boundaries and an existing graphite processing plant and facilities within 1.5 km west of the property (owned by Eagle Graphite Corp., one of only two natural flake graphite production facilities in North America).
Aben can earn a 100% interest, less 2% Net Production Royalty in the road-accessible Slocan Graphite Project. The 2,826 Slocan Graphite Property hosts several flake graphite-bearing outcrops (high values of 3.36 and 4.43% organic Carbon) at the Tedesco Zone, which is coincident with a strong conductive anomaly identified in 2010 that is interpreted to extend up to 2.0km from the known surficial occurrences.
The company has just added to the Slocan graphite land package by staking a new 439.4 hectare claim along the northeastern boundary of the property. This action was taken after initial evaluation of the property by Aben geologists revealed excellent potential for an extension of the mineralized trend in that direction. Aben will continue to systematically explore the Slocan graphite property with the aim to unlock the full mineralized potential contained within the current tenure.
Natural flake graphite is the fastest-growing product type and will continue to lead with a healthy growth rate of 9.5% in terms of value between 2021 and 2025. In value and volume, batteries to exhibit the fastest-growth of 17.9% between 2021 and 2025. An average HEV contains up to 10 kgs of graphite, where in EVs it is up to 70 kgs.
Currently, synthetic graphite is the preferred material for battery anode materials. However, in the past few years, a significant shift towards natural flake graphite has been observed due to its cost-competitiveness and performance. Graphite is the most preferred battery anode material for rechargeable batteries and the battery segment is anticipated to create an incremental opportunity worth US$4.6 Bn between 2020 and 2025.
In 2019, Asia Pacific was the largest consumer of graphite and is expected to grow 9.1% in terms of value between 2021 and 2025. China graphite production is anticipated to consolidate owing to environmental issues. New companies are entering into the graphite space, especially in the processing of natural flake graphite. Graphite is considered as a material of green energy and technology.
Aben Resources is a diversified Canadian gold and graphite exploration company with exploration projects in British Columbia, Ontario, and Yukon.