CALGARY, ALBERTA / ACCESSWIRE / April 24, 2014 / Graphite One Resources Inc. (GPH: TSX-V, GPHOF: OTCQX) ("Graphite One" or the "Company") is pleased to announce the following significant results from a second series of beneficiation tests conducted at SGS Canada Inc. ("Lakefield") on samples from its 100% owned Graphite Creek Deposit. Trials using a leaching process yielded results exceeding 99.9 per cent Carbon ("% C") from a rough concentrate produced from floatation which had an initial 92 % C head grade.
This is further confirmation of earlier mineralogical studies that showed the flake graphite material to be of high quality and containing minor amounts of impurities and improves on results as reported on April 29, 2013. The ability to produce a natural graphite product equivalent in purity to the highest grade synthetic graphite will allow Graphite One to target the growing market in high value-added graphite applications. These high purity levels are required in many industrial applications including electrochemical applications like Lithium-ion batteries which are used in electric vehicles and represent a significant and growing market.
Anthony Huston, President and CEO stated "Achieving ultra-high purity carbon results is essential in the emerging graphite market." Huston also stated "With accelerated global interest in graphite deposits and with Graphite Creek being the U.S.'s only advanced Graphite Deposit, we will continue to seek strategic partners, including graphite end-users."
Tesla Motors Inc. ("Tesla"), recently announced plans to build a new $5 billion lithium-ion battery 'giga-factory' in the U.S., forecasted to reach production in 2017. As well, co-founder of Tesla, Elon Musk, stated the company "plans to use only raw materials sourced in North America for its U.S. battery factory". According to Simon Moores at Industrial Minerals ("IM"), the output of this factory would more than double the size of the current market and the graphite industry would likely be the beneficiary of this growth. In IM's calculations, demand for natural flake graphite could increase by 37% by the year 2020, requiring equivalent production from six to nine new graphite mines.
Please follow this link to read the full article on Industrial Minerals' website:
About Graphite Creek
The Graphite Creek Property comprises 129 claims totaling 6,799 hectares on the Seward Peninsula of Alaska, 65 kilometres north (40 miles) of a deep sea port at Nome. Mineralization at the Graphite Creek Property is characterized by coarse crystalline (flake) graphite within graphite-bearing schist(s).
- Largest known, high grade, large flake Graphite Deposit in the United States and North America.
- This new and expanded inferred resource based on 2012 and 2013 drilling by Graphite One and comprises 284.71Mt at 4.5% Cg (including 37.68Mt at 9.2% Cg and 8.63Mt at 12.9% Cg);
- High-grade graphite mineralization is at surface and extends from surface to depths of over 200m.
- The 2013 drilling program further confirmed excellent continuity of near surface, high grade graphite within a simple and accessible geological setting and doubled the strike length of current mineralization at the Graphite Creek Deposit to 4.8 km's.
- The resource area (4.8km) only represents drilling along 27% of an 18km long electro-magnetic conductor.
About Graphite One Resources Inc.
GRAPHITE ONE RESOURCES INC. (GPH: TSX-V; GPHOF: OTCQX) is exploring with the intent to develop the Graphite Creek Deposit, USA's only advanced staged large-scale, large flake graphite deposit.
ON BEHALF OF THE BOARD OF DIRECTORS
"Anthony Huston" (signed)
For more information on Graphite One Resources Inc. please visit the Company's website, www.GraphiteOneResources.com or contact:
CEO, President & Director
Tel: (604) 697-2862
Email: [email protected]
Investor Relations Contact
Email: [email protected]
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. All statements in this release, other than statements of historical facts that address access to capital, 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 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.sedar.com.
The mineral resource estimates reported in this press release were prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), as required by Canadian securities regulatory authorities. For United States reporting purposes, the United States Securities and Exchange Commission ("SEC") applies different standards in the classification of mineralization. In particular, while the terms "measured," "indicated" and "inferred" mineral resources are required pursuant to NI 43-101, the SEC does not recognize such terms. Canadian standards differ significantly from the requirements of the SEC. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories constitute or will ever be converted into reserves. In addition, "inferred" mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, issuers must not make any disclosure of results of an economic analysis that includes inferred mineral resources, except in rare cases.
SOURCE: Graphite One Resources Inc.