Business
StrategX Elements Expands Energy Transition Metals Portfolio with High-Grade Graphite Discovery at Nagvaak
Vancouver, British Columbia--(Newsfile Corp. - March 7, 2023) - StrategX Elements Corp. (CSE: STGX) ("StrategX" or the "Company") has announced that it has adde
About this update from Strategx Elements Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - March 7, 2023) - StrategX Elements Corp. (CSE: STGX) (\"StrategX\" or the \"Company\") has announced that it has added high-grade graphite to its energy transition metals discovery portfolio at Nagvaak. The Company conducted a preliminary characterization of the high-grade graphite drill core intersections, which provides encouraging results for high purity, jumbo flake graphite mineralization that was easily isolated with simple water separation. \"We are excited to add graphite to our energy transition metals portfolio,\" stated Darren Bahrey, CEO of StrategX. Mr. Bahrey added, \"Our exploration team is putting the Melville Peninsula on the map as a major new prospective region to discover critical minerals for the global energy transition.\" The graphite potential identified in surface grab samples and a past petrographic study substantiates the findings. The graphite zones are also considered one of the host rocks for nickel, vanadium, molybdenum, zinc, copper, and silver mineralization at its Nagvaak property (refer to news releases on Dec. 7, 2022, and Feb. 14, 2023). The importance of Graphite in the Energy Transition The significance of graphite in the energy transition is enormous, as the anode of lithium-ion batteries for electric cars will drive the demand in the future, with an expected annual supply deficit reaching up to 8 million tonnes by 2040. Benchmark Minerals Intelligence estimates that approximately 97 new natural graphite mines need to come online by 2035. Graphite represents the largest component of the batteries, and there is no current replacement for graphite in the anode. In addition to the grade and size of deposits, graphite quality is important. Specifically, flake size, shape and purity are key determinants for value per tonne and ease of processing. High-Grade Graphite Identified at Nagvaak Based on field observations of the graphite zones identified in the drill core, samples were analyzed for graphitic carbon (Cg) content. The results returned significant intervals of high-grade Cg values. Large flake graphite was identified in the drill core during the 2022 program, and a petrographic study was completed on surface grab samples, which supports a large, high-quality graphite flake at Nagvaak. Composite samples taken from DDH#1 and DDH#14 drill inte...