“If the past is anything to go by,” graphite’s future is strong
By Greg Klein
Next Page 1 | 2
Although graphite lost considerable market interest last April, exploration and development continued through the summer. That brought some companies a corresponding uptick in share price. Standard Graphite TSXV:SGH ranks among those with an historical advantage—a project with non-43-101 drill results and a resource estimate that were filed away when China flooded the world with the carbon commodity. The reports are non-compliant but, if recent drilling can confirm them, they’ll help push progress along.
On September 26 Standard announced completion of 12 confirmation drill holes at its Mousseau East Graphite Deposit in southwestern Quebec.
Some 62 holes totalling 4,996 metres had been drilled previously by Graphicor. A 1992 non-43-101 resource estimate showed 800,000 tonnes grading 8% carbon, using a 3% cutoff. The resource went to a vertical depth of only 40 metres but Standard says graphite continues deeper and along strike. With Phase I now complete, drilling continues to potentially expand the resource beyond the historic numbers.
But Standard’s not the only one showing an historical interest in Graphicor. On September 20 Lomiko Metals TSXV:LMR announced completion of 23 holes totalling 1,600 metres on its Quatre Milles East Flake Graphite Property, also in southwestern Quebec. The company hopes assays will confirm 1992 results from Graphicor, which found impressive, albeit non-43-101 grades including 8.07% carbon over 28.6 metres, 8.07% over 8.7 metres and 5.88% over 11.2 metres.
On September 25 Focus was slapped with a Management Cease Trade Order. According to a company statement issued that day, the Ontario Securities Commission decided some of the company’s disclosures about its Lac Knife Project in northeastern Quebec were based on historic, non-43-101 data.
The company first announced the OSC review on September 10, when Focus referred to previously released “information on the project’s capital cost, mine life, estimates on yearly production, production costs per ton and revenue potential. Most of this information was taken from historical reports prepared by previous owners of the project before the introduction of NI 43-101 and should not be relied upon.”
The MCTO holds until the company files a compliant technical report. Focus plans to file a PEA in the coming weeks.
Next Page 1 | 2
Pages: 1 2