Graphite One Announces Updated Graphite Creek Resource and Reserve Estimates, Tripling Proven and Probable Reserves
With support of DOD funding Graphite One has completed the 2023 and 2024 drilling programs that expanded the measured and indicated resource and proven and probable reserve
Publication of a NI 43-101 compliant Feasibility Study will be filed in April 2025 — and is anticipated to triple the production rate disclosed in Graphite One’s 2022 pre-feasibility report (the “PFS”)
Proven/Probable Mineral Reserve tonnage is 317% of the PFS reserve estimate. The corresponding contained graphite is 296% of the PFS estimate
Graphite Creek is now triple the size it was when USGS just 3 years ago deemed it “the largest flake graphite deposit in the U.S.”
VANCOUVER, BC, March 27, 2025 /PRNewswire/ – Graphite One Inc. (TSXV: GPH) (OTCQX: GPHOF) (“Graphite One”, “G1” or the “Company”), is pleased to announce updated mineral resource and reserve estimates for its Graphite Creek Project. Graphite One will file a feasibility study (“FS”) prepared in accordance with National Instrument 43-101 (“NI 43-101“) under the Company’s profile on SEDAR+ at www.sedarplus.ca within 45 days of the date of this news release, anticipated to be filed in April 2025.
Anthony Huston, CEO of Graphite One, said:
With grant support under the Defense Production Act Title III authorities, Graphite One was able not only to accelerate completion of our feasibility study by 15 months, but also quadrupled our planned drilling program, producing the results we announce today,
“We will now enter the permitting process with a production rate triple what we projected just over two years ago. The Proven and Probable Mineral Reserve tonnage is 317% of the PFS reserve estimate and the corresponding contained graphite is 296% of the PFS estimate. All of this is based on results from just 1.2 miles of the total 9.5 mile long geophysical anomaly.”
Graphite One’s announcement today follows the publication last week of President Trump’s Executive Order (“EO“), “Immediate Measures to Increase American Mineral Production. Graphite One’s press release on the EO can be found at this link.
Mr. Huston added,
With President Trump’s new Executive Order, G1 is working with Congress, the Administration, and federal agencies to accelerate our Graphite One supply chain project through permitting and into production, to end the nation’s 100% import dependency for graphite,
“With these new results, Graphite Creek is now triple the size when the US Geological Survey reported just three years ago that Graphite Creek was the largest flake graphite deposit in the U.Si“.
Mineral Resource and Reserves
The Graphite Creek property (the “Property“) is located on the Seward Peninsula, Alaska about 38 miles (60 km) north of Nome. The Property comprises 23,680 acres (9,600 hectares) of State of Alaska mining claims. The claim block consists of 176 claims, of which 163 are wholly owned by Graphite One (Alaska) Inc. and 13 are leased to Graphite One (Alaska) Inc. G1’s deposit is entirely on State land. The graphite mineral zone is exposed on the surface and strikes East/Northeast along the North Face of the Kigluaik Mountains. The Feasibility Study Pit and Mineral Reserve footprint represents just 1.2 miles (1.9 km) of the 9.5 miles (15.3 km) long electromagnetic anomaly (Figure 1).
Through 2022, 2023 and 2024, 90 holes have been drilled in the resource area for a total of 13,482 meters of drilling. The resource database consists of 22,806 assays. The resource remains open down dip, and along strike to the East and West.
The Mineral Resource Estimate for Graphite Creek was updated with data through the 2024 drilling program. The methodology used was the same as that described in the PFS. A lower cut-off grade of 2% was used for the 2022 and 2024 resource. The FS mineral resource estimate is presented in Table 1.
The 2023-2024 drilling program focused on converting Inferred Resources into Measured and Indicated, to allow annual graphite production to be increased in the FS. A comparison of the PFS and FS mineral resources can be seen in Table 2.
The 2024 Mineral Reserve consists of 71.219 million tonnes of Proven and Probable material at an average diluted grade of 5.22% graphite, yielding 3.7 million tonnes of contained graphite. A variable cut–off grade between 2%-3% was used in calculating the proven/probable reserve. Table 3 shows the mineral reserve.
Graphite One’s Domestic Supply Chain Strategy
With the United States almost 100 percent import dependent for anode active materials, Graphite One is developing a complete U.S.-based, advanced graphite supply chain solution anchored by the Graphite Creek deposit, recognized by the US Geological Survey as the largest graphite deposit in the U.S. “and among the largest in the world.” The Graphite One Project plan includes an advanced graphite material and battery anode material manufacturing plant located in Warren, Ohio. The plan also includes a recycling facility to reclaim graphite and the other battery materials, to be co-located at the Ohio site, the third link in Graphite One’s circular economy strategy. The building of these facilities remains subject to financing.
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Graphite One Announces Updated Graphite Creek Resource and Reserve Estimates, Tripling Proven and Probable Reserves, source
