Standard Graphite Corp TSXV:SGH announced results of an airborne time-domain electromagnetic (TDEM) survey of its Carheil Graphite Property in northeast Quebec. Data from the 300-line-kilometre survey suggests four distinct conductors cutting across the entire length of the property for strike lengths of up to six kilometres.
The geology of the area is characterized by rocks of the Menihek formation, strongly metamorphosed graphite-bearing pelitic sediments, the company reports. This geological formation accounts for most of the region’s graphite occurrences. The property is approximately 10 kilometres from Focus Metals’ TSXV:FMS Lac Knife Deposit. Carheil now consists of 25 designated claims covering 3,885 hectares.
President/CEO Chris Bogart tells ResourceClips.com, “We started picking up graphite properties early on, back in November. We have 13 properties now, including the new one we announced on April 4.
We can not only discover, identify, evaluate and graduate a project, but we also have a team that can take it to production—Chris Bogart
“Today’s results come from Carheil, which is one of our claims close to the Lac Knife Project. Carheil has a power line and a road running right through the property, so we’ve got great infrastructure. It’s a big mining camp,” he says.
“As soon as the snow clears, which should be about mid-May, we’ll be on the ground in Carheil doing our basic mapping, trenching and sampling to determine some additional results. Our goal this summer is to drill our best targets, Carheil being one of them.
“EM will be the first line of exploration on all the properties. We’re doing that as we speak. We’ll have that complete by day’s end tomorrow. The results will be coming. We’ve already started ground work on our Ontario properties. As the snow melts, we’ll do the mapping, sampling and trenching for all the properties. Once that’s complete, we’ll rank our properties according to the results. And then we’ll start developing those and moving towards drill targets for the summer. Once you’re drilling, the season is 12 months a year.
“We’re still determining which of our properties will be the flagship,” he adds. “That’s part of the process for this exploration season. It’s very ambitious but we’re confident we’ll be able to accomplish it. Our goal for one year from now is to identify our flagship asset and publish our first NI 43-101 resource on it.”
Comparing the graphite sector with the previous boom in rare earths, he says, “I think graphite has more longevity. The metallurgy is substantially less complicated. The cap costs to go into production are significantly lower, so it’s not as prohibitive to a junior. When we talk about production, to talk about $70 million, $80 million in capex versus $600 million, $700 million that you might need in a rare earth company, that’s a substantial difference.”
Bogart emphasizes, “Any investor should lean heavily on management’s expertise and track record. Ours is quite substantial. We’re the only exploration company that I’m aware of in Canada that has a graphite exploration geologist [Antoine Fournier] and a graphite executive with sales, marketing and operations experience [Benoît Gascon]. So we can not only discover, identify, evaluate and graduate a project, but we also have a team that can take it to production. And in industrial minerals, sales and marketing is of absolute cornerstone importance. So we’re well suited to advance those projects. We have the team to do it.”
Disclaimer: Standard Graphite Corp is a client of OnPage Media and the principals of OnPage Media may hold shares in Standard Graphite.
by Greg Klein