Update: Effective February 3, 2012, Orocan Resource changed its name and stock symbol to Standard Graphite Corp TSXV:SGH.
Orocan Resource Corp TSXV:OR announced an airborne survey of the graphite potential of its Black Donald, Little-Bryan and Lyndoch properties in southeast Ontario. The low-altitude 1,492-line-kilometre survey will measure bedrock conductivity (TDEM) and magnetic properties.
The Black Donald property surrounds the former Black Donald Mine that produced high-grade, high-purity graphite between 1896 and 1950. Graphite has also been reported at several locations on the current claim block and was drill-tested in 1982. Little-Bryan and Lyndoch are also centred on known graphite occurrences and have undergone trenching and shallow diamond drilling. Results from the airborne survey are expected in January and will form the basis of 2012 prospecting, trenching and drilling programs.
Graphite is a carbon allotrope used in steel production and increasingly in fuel cells, solar panels, pebble bed nuclear reactors and lithium-ion batteries.
As more people become aware of graphite, I think you’ll see numerous companies start over the next six to 12 months. I think what will set us apart is not just the quality and breadth of our assets but Antoine [Fournier] as a graphite geologist—because they’re very hard to find. We’re just lucky that we acquired one of the best—Chris Bogart
President/CEO Chris Bogart tells ResourceClips.com, “We like a number of things about graphite compared to the gold sector. We really like the long-term supply-demand fundamentals, which mean elevated graphite prices. We’ve seen a substantial increase in graphite pricing on a per-tonne basis. We believe those fundamentals give us the opportunity to implement a strategy of exploration, discovery and development.
“We also like the exploration fundamentals of graphite compared to some other metals,” he adds. “We found graphite actually economical in cost and time frame, particularly because graphite’s unique physical properties and high conductivity make the airborne EM strategy extremely effective.
“In addition, we like the fact that there’s not a lot of competition in the marketplace. There are just a handful of companies in North America in this sector,” Bogart says.
“We acquired these properties based on the geologic characteristics of large-flake, high-purity graphite deposits. It’s the only style of deposit we would be targeting. That’s where we believe the future demand will be.
“We expect all the data to be complete this month. The survey should be complete and the data analyzed by our geophysicist within the month,” he points out.
“Our next step will be two-fold. We’ll be starting an EM survey on our Quebec assets and then organizing and prioritizing our targets for some ground follow-up in the spring. That will include ground EM if we need it, as well as basic mapping, sampling and trenching.”
Chief Geologist Antoine Fournier took part in the discovery of Focus Metals’ TSXV:FMS Lac Knife graphite deposit. “We were extremely fortunate to get someone of Antoine’s stature in our company,” Bogart emphasizes. “As more people become aware of graphite, I think you’ll see numerous companies start over the next six to 12 months. I think what will set us apart is not just the quality and breadth of our assets but Antoine as a graphite geologist—because they’re very hard to find. We’re just lucky that we acquired one of the best.”
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by Greg Klein