#United States #Vancouver #Graphite One #Graphite Creek #American Minerals

Graphite One Announces Major Update on Graphite Creek Reserves

In an exciting development for the mining industry, Graphite One Inc. (TSXV GPH) has significantly updated its resource and reserve estimates for the Graphite Creek Project, tripling its proven and probable reserves. Supported by funding from the Department of Defense, this update comes after the completion of extensive drilling programs carried out in 2023 and 2024, positioning the company as a frontrunner in graphite production in the United States.

Expanded Reserve Estimates

Graphite One’s recent findings reveal that the company’s proven and probable reserve tonnage stands at a remarkable 317% of the previously reported pre-feasibility study (PFS) estimates. More specifically, the corresponding contained graphite is reported to be 296% of the PFS estimate, underscoring the project's immense potential. The company plans to file a Feasibility Study (FS) prepared in accordance with National Instrument 43-101 (NI 43-101) by April 2025, which will provide further insights into the viability of the project.

Anthony Huston, the CEO of Graphite One, articulated the significance of the updated findings, stating, "With the support from the Defense Production Act Title III authorities, we were able not only to accelerate the completion of our feasibility study by 15 months but also to quadruple our planned drilling program."

Importance of Graphite Creek

The Graphite Creek property, which is situated on the Seward Peninsula in Alaska, has been recognized by the U.S. Geological Survey as the largest flake graphite deposit in the nation. Notably, the deposit has an estimated total area of 23,680 acres (9,600 hectares) of mining claims, reinforcing the site as a critical asset in the U.S. graphite resource landscape.

Huston added, "We will now move into the permitting phase with a production rate that is triple what we projected just over two years ago. The Proven and Probable Mineral Reserve tonnage is a testament to the extensive exploration and drilling efforts we've undertaken. All this is from just 1.2 miles of the total 9.5-mile-long geophysical anomaly."

Comprehensive Drilling Efforts

Over the course of the 2022, 2023, and 2024 drilling programs, Graphite One successfully completed 90 drill holes, accumulating a total of 13,482 meters of drilling. The newly updated resource database contains 22,806 assays, with the resource remaining open for exploration both down dip and along strike. This extensive drilling program has been aimed primarily at converting Inferred Resources into Measured and Indicated classifications to enhance annual graphite production forecasts in the impending Feasibility Study.

The updated Mineral Resource Estimate for Graphite Creek outlines a total of 104.7 million tonnes with an average grade of 4.6% carbon graphite (Cg), alongside significant Inferred resources of 268.1 million tonnes with a grade of 4.3% Cg.

Looking Ahead

Graphite One's ambitious plans include developing an advanced domestic graphite supply chain aimed at reducing the U.S. import dependency on anode active materials. The Project will integrate the Graphite Creek deposit with a manufacturing facility in Warren, Ohio, designed to produce high-grade anode materials for the lithium-ion electric vehicle battery market.

This strategic integration not only enhances domestic production capabilities but also adheres to modern circular economy principles with plans for a recycling facility to reclaim graphite and other battery materials. However, developments are contingent on securing the necessary financing.

Conclusion

As Graphite One prepares for its Feasibility Study release, the mining sector is poised to watch closely as the company steps into a new chapter of growth and innovation, significantly impacting America’s mineral production landscape. The combination of substantial reserve estimations and a strong strategic direction positions Graphite One as a vital player in establishing an independent supply chain for graphite and anode materials in the U.S.