US Geological Survey Report is Consistent With 2022 Drilling
Results That Indicate the Graphite Creek Deposit Remains Open to
the West, East and Down Dip
VANCOUVER, BC, March 9,
2023 /CNW/ - Graphite One Inc. (TSXV:
GPH) (OTCQX: GPHOF) ("Graphite One" or the "Company"),
planning a complete domestic U.S. supply chain for advanced
graphite materials, is pleased to share the newly released US
Geological Survey ("USGS") report titled "Insights into the
Metamorphic History and Origin of Flake Graphite Mineralization at
the Graphite Creek Graphite Deposit, Seward Peninsula, Alaska, USA1."
The USGS report states:
"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 new USGS report provides some very important insights that
strengthen our knowledge base and deepen our understanding of how
Graphite Creek and similar types of deposits are formed. It
comes at a time when the United
States needs to step up its game when it comes to Critical
Minerals, and indicates how valuable USGS's contributions can be,"
commented Mike Schaffner, Graphite
One's Senior Vice President of Mining. "We're excited to
incorporate this information into our 2023 drilling program as we
continue to expand our Graphite Creek resource."
Graphite One's October 2022
Pre-Feasibility Study was based on exploration of less than 7% of
the 16 kilometer-long geophysical anomaly. The anticipated
2023 Drilling Program will continue to delineate the scope and size
of the resource.
"The USGS report underscores our confidence that Graphite Creek
is truly a generational graphite resource," said Anthony Huston, President and CEO of Graphite
One. "It anchors our supply chain strategy -- from our mine
to our planned advanced materials manufacturing plant and our
recycling facility -- to build a 100% U.S.-based graphite supply
chain."
The Graphite Creek deposit remains open to the West, East, and
down dip. Graphite One is completing an analysis of the 2022
Drilling Program, which is anticipated to extend the inferred
resource to the west and support the conversion of inferred
resources to measured and indicated around the designated pit
area. Graphite One expects to announce that resource update
shortly.
The USGS Report notes:
"The United States of America
(USA) is 100% net import reliant
for graphite as of 2020 (U.S. Geological Survey 2021). China supplies 33% of US imports and accounts
for over 60% of global production of ~ 1.1 million t.
Consequently, the US government has designated graphite as a
critical mineral…. Flake graphite—a highly ordered and crystalline
form—is emerging as a particularly important source of spherical
graphite used in the anode of lithium-ion batteries that power
modern portable electronics, electric vehicles, and renewable
energy storage systems…. Demand for battery graphite in 2040 is
expected to be 25 times higher than in 2020 (International Energy
Agency 2021). Thus, identifying potential flake graphite
resources in North America and
elsewhere is crucial for meeting future needs."
Mr. Rob Retherford, P. Geo,
with Alaska Earth Sciences, Inc. provided oversite to the 2022
drilling and sampling program. Mr. Retherford is a Qualified Person
as defined under NI 43–101 and has reviewed and
approved the technical content of this release.
Kinvestor Green Future 2023
Virtual Investor Conference
Graphite One is please to announce that Anthony Huston is scheduled to present at the
Kinvestor Green Future Virtual Investor Conference on March 28, 2023 at 9:30 AM
PST (12:30 PM EST).
Anthony Huston, President and CEO
of Graphite One, states "As the United States continues to pass
legislation to onshore critical metals such as graphite, we
continue to drive the development of the largest known graphite
deposit in the United States.
Recent articles from Bloomberg and The Economist have also pointed
towards the need for a supply chain strategy for graphite in
the United States, which is the
cornerstone of our business model. I look forward to presenting our
opportunity in front the large audience of qualified institutional
and retail investors that will be attending the conference."
Register now at:
https://us06web.zoom.us/webinar/register/5516739932711/WN_TEaDseneQsm9I7ZW_mdJmw
Click here for the recent Bloomberg article
titled: America's EV Ambitions Need a Graphite Plan.
Fast.
Click here for the recent article in the Economist titled:
Firms search for greener supplies of graphite for EV
batteries
Graphite One's Supply Chain
Strategy
With the United States
currently 100 per cent import dependent for natural graphite,
Graphite One is planning to develop a complete U.S.-based, advanced
graphite supply chain solution anchored by the Graphite Creek
resource. The Graphite One project plan includes an advanced
graphite material and battery anode manufacturing plant expected to
be sited in Washington State
integrated with the development of the Property. The plan includes
a recycling facility to reclaim graphite and the other battery
materials, to be co-located at the Washington State site, the third link in
Graphite One's circular economy strategy.
About Graphite One Inc.
GRAPHITE ONE INC. (TSX-V: GPH) (OTCQX: GPHOF) is developing its
Graphite One Project (the "Project") to become an American producer
of high-grade anode materials integrated with a U.S. 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 kilometers 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 expected to be located in Washington
State. The Company intends to make a production decision on
the Project upon the completion of a Feasibility Study.
On Behalf of the Board of Directors
"Anthony Huston" (signed)
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.
All statements in this release, other than statements of
historical facts, including those related to the anticipated
results of the 2022 drill program, timing and completion of the
anticipated Feasibility Study, future production, establishment of
a processing plant and a graphite manufacturing plant,
establishment of a battery materials recycling facility, and events
or developments that the Company intends, expects, plans, or
proposes are forward-looking statements. Generally,
forward–looking information can be identified by the
use of forward–looking terminology such as
"proposes", "expects", "is expected", "scheduled", "estimates",
"projects", "plans", "is planning", "intends", "assumes",
"believes", "indicates", "to be" or variations of such words and
phrases that state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved". 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.
_________________________________
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1
https://link.springer.com/article/10.1007/s00126-023-01161-3
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SOURCE Graphite One Inc.