Drilling program focused on gathering geotechnical data needed to complete the Feasibility Study on the largest known graphite deposit in the U.S.
CEO: Graphite One is on track to meet target of issuing the Feasibility Study by December 2024 under the terms of Department of Defense Production Act grant
Graphite One Inc. ("Graphite One", "G1" or the "Company"), planning a complete domestic U.S. supply chain for advanced graphite materials, announced the commencement of the Company's 2024 Field Program at its Graphite Creek Property located north of Nome, Alaska.
Based on the positive results of the 2023 drilling program (link to January 8, 2024 press release), the 2024 Field Program has been developed to gather the remaining data required to complete the Company's Feasibility Study.
Three drill rigs are currently operating to gather the geotechnical information needed to engineer the pit walls and foundations for the process facility, tailings/waste rock facility, and other infrastructure.
Graphite One is pleased that job fairs conducted in the local communities of Teller, Brevig Mission and Nome have resulted in 22 of the summer positions being filled by residents of the local communities.
"The 2024 Field Program is a key milestone for our stakeholders as we advance our Feasibility Study with a scheduled December completion target, under the terms of our Defense Production Act grant from the Department of Defense," said Anthony Huston, President and CEO of Graphite One. "As the U.S. Government's US Geological Survey has recognized Graphite Creek as the nation's largest graphite deposit, and 'among the largest in the world,' we are confident that this year's program will further demonstrate the importance of Graphite One's complete supply chain strategy in meeting demand for a material that is critical to the 21st Century technology economy and U.S. national security."
In parallel to the drilling program, site visits and field work by the engineering team and environmental specialists are also underway, to continue baseline studies on:
Surface water quality
Ground water quality
Hydrogeologic investigations
Bathymetric and water quality characterization of the Imuruk Basin
Fish and other aquatic species surveys
Raptor nesting
Cultural heritage/archaeological investigations
Graphite One's senior team will continue to engage the communities and tribal organizations nearest Graphite Creek on the 2024 field program and provide a forum for dialogue on a development path that benefits local residents. Completion of the Feasibility Study is subject to financing.
Graphite One's Domestic Supply Chain Strategy
With the United States currently 100 percent import dependent for natural graphite, 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.
