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Graphite One Drills 16.3 Metres of 11.93% Graphite, at Graphite Creek Project, Alaska
VANCOUVER, British Columbia, March 18, 2019 (GLOBE NEWSWIRE) -- Graphite One Inc. (GPH: TSX-V; GPHOF: OTCQB) (“Graphite One” or the “Company”) Graphite One Inc.
About this update from Graphite One Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, March 18, 2019 (GLOBE NEWSWIRE) -- Graphite One Inc. (GPH: TSX-V; GPHOF: OTCQB) (“Graphite One” or the “Company”) Graphite One Inc. is now trading under the new name and is pleased to announce results from its 2018 Field Program at its Graphite Creek Project, a large-flake graphite deposit located in the Kigluaik Mountains on the Seward Peninsula approximately 60 km north of the City of Nome, Alaska. Highlights: Drilling Results Include High-Grade Zones Averaging Greater than 10% Cg Deposit Remains Open to East, West and North Results Will Allow for Updated Resource Estimate “The drilling results conform to our past exploration programs, and will allow us to update our resource estimates,” said Anthony Huston, Graphite One President and CEO. “The fact that our deposit remains open and relatively unexplored to the East and West of our identified resources, and that the down dip extent to the north has not yet been defined, underscores for us that we’re only beginning to realize the full potential of our project.” The Drill Program comprised 801 metres in six core holes, the results of which will be used to in-fill and expand the indicated and inferred resources previously identified in the Company’s current Preliminary Economic Analysis (see Table 1). Table 1: Graphite Creek Mineral Resources, Preliminary Economic Analysis, June 30, 2017 11 MINERAL RESOURCE CLASSIFICATION CUT-OFF GRADE (% Cg) TONNAGE (MILLION TONNES) GRAPHITE GRADE (% Cg) CONTAINED GRAPHITE (TONNES) INDICATED 6.0 10.32 7.2 % 744,000 INFERRED 6.0 71.24 7.0 % 4,969,000 Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no guarantee that all or any part of the indicated or inferred mineral resource will be converted into a mineral reserve. The collective work to date from the Graphite Creek Property indicate that while the project is in early stages of exploration/resource work that indications of the size and grade of the graphite give suggestions that they are of high enough concentration to be of economic interest. Table 2: Highlights of 2018 Drill Results Include Average Grades for Composites using a 3% Cutoff Hole ID Section From (m) To (m) Length (m) Cg (%) 18GC022 4350 19 27.7 8.7 8.05 43 44.3 1.3 14.24 104.6 113.4 8.5 10.81 18GC...