South Star Battery Metals announces maiden mineral resource estimate for the BamaStar Graphite Project in Coosa County Alabama, USA.
South Star Battery Metals Corp. (“South Star” or the “Company”) (TSXV: STS) (OTCQB: STSBD), announce the successful completion of its maiden mineral resource estimate (“MRE”) for the BamaStar Graphite Project located in Coosa County, Alabama, United States (the “Project”). The independent mineral resource estimate was prepared by Caracle Creek International Consulting Inc. in accordance with Canadian Securities Administrators’ National Instrument 43-101.
Richard Pearce, CEO of South Star, commented:
The BamaStar maiden mineral resource estimate is a fantastic result and confirms the potential for a significant deposit at this historical mine with at-surface mineralization that should be amenable to open pit mining techniques and low strip ratios.
“It’s one of two projects in the continental United States with a defined mineral resource estimate. The preliminary drilling program was designed to test limits and continuity, and the team successfully achieved those objectives. We have successfully completed our 3-tonne pilot plant metallurgical testing program confirming our process flowsheet and recoveries.”
“We have contracts signed for the next drilling program expected to begin around May 2023, and we are planning to get a NI 43-101 PEA completed by Q1 of 2024. The PEA will present our strategic plan of two mines, each producing 50,000 tonnes per year of concentrates, feeding a centrally located, value-add plant in the southeast United States and producing active anode material for electric vehicles, as well as purified/micronized and expandable graphite products.”
“South Star has two scalable assets in strategic, stable, mining-friendly jurisdictions and the team to build and operate them in a safe responsible manner in partnership with communities and stakeholders. It’s happening at the perfect time, when supply is constrained and demand is outstripping supply.”
“This dynamic will be putting significant pressure on the graphite price in 2023 and for the foreseeable future. Santa Cruz will have the first new graphite production in the Americas since 1996 this year, and BamaStar is expected to be producing in 2027.”
Highlights:
- 520,000 tonnes of contained graphite with an open pit-constrained mineral resource estimate of 22M tonnes of inferred resources at an average grade of 2.4% (Cg), based on a 1.1% cut-off grade.
- Estimate is based on 12 drill holes totaling 506m of HQ diamond drilling completed in 2022.
- The mineral resource estimate confirms the significant potential of this historical mine with graphite mineralization open at depth and in both directions (NE & SW).
- The mineral resource estimate and initial open pit optimization confirms the deposit is amenable to open pit mining operations with at-surface mineralization and low strip ratios.
- The next drilling program (2,000-2,500m) is under contract and planned to begin in May 2023 to support a NI43-101 Preliminary Economic Assessment (PEA) planned for Q1 of 2024.
READ the latest Batteries News shaping the battery market
South Star Battery Metals Announces Maiden Mineral Resource Estimate for the BamaStar Graphite Project in Coosa County Alabama, USA, VANCOUVER, BC, March 13, 2023
