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Graphitecorp Limited (GRA)
is a publicly listed company on the Australian Securities Exchange (ASX).
Graphitecorp (ASX: GRA) is a developer of one of the highest-grade flake graphite deposits in the world, located in Australia, and referred to as the Mount Dromedary Project.
The deposit includes a large high grade "Graphite Schist" mineralisation zone averaging 18.8% TGC (up to 35% TGC) with large flake size distribution being 43% jumbo to large flake size and outcropping over a strike-length of at least 3km with a variable width between 35m and 350m.
Graphitecorp has an 82% effective interest in the deposit, based on currently mapped surface area, with the remaining interest held by the Company's joint venture partner Washington H. Soul Pattinson and Company Limited (ASX: SOL) subsidiary Exco Resources Limited.
The project is favourably located 125km north of Cloncurry with well-developed transport and mining supply infrastructure available.
- Located in Australia with low levels of sovereign risk, ability to provide long term security of supply, alternate sourcing to China and Africa, and higher environmental and other sustainability related standards
- Large open-cut deposit located within one kilometre of a sealed all-weather bitumen highway maintained by the State Government and gazetted for use by road-trains
- Daily road-train transport to the Ports available from major freight haulage companies with large-scale backhaul capacity
- Highway networks connect the project with Queensland export ports including the Port of Brisbane which is regularly serviced by major shipping liners and has back-haul capacity to target markets; and
- Located in a well-established mining region with abundant skills, services and experience, and playing a significant role in the Queensland economy.
Given strong project fundamentals and positive demand outlook for specialised graphite products, Graphitecorp is diligently progressing a feasibility study with its joint venture partner to assess the economic opportunity of establishing a business to mine, process, manufacture and market high quality graphite products into Asian and other global markets.
The Mount Dromedary Project
The Mount Dromedary graphite deposit is one of the highest-grade flake graphite deposits in the world, located in Australia.
Graphitecorp has an 82% effective interest in the deposit, based on currently mapped surface area, with the remaining interest held by the Company’s joint venture partner Washington H. Soul Pattinson and Company Limited (ASX: SOL) subsidiary Exco Resources Limited.
GRAPHITECORP envisages a project capable of ramping up to 50,000tpa of finished product being shipped from the Port of Brisbane to global markets.
A joint venture exists between Graphitecorp Limited and Washington H. Soul Pattinson and Company Limited (ASX: SOL) subsidiary Exco Resources Limited to explore for and develop graphite over the relevant Sub-Blocks within Exploration Permit for Minerals (EPM) EPM 26025, in the Mt Dromedary area. EPM 26025 encompasses the historical EPM’s; EPM 16983, EPM 18128 and EPM 18995. The exploration permit JV area covers 5 Sub-Blocks (Normanton 3123 D, J, N, O and S) for a total area of 14.216 square km (1,421.6 hectares). Mineral Development Licences MDL 389, MDL390 and MDL 401 are excised from the EPM. This JV area covers 90% of the currently mapped surface area of the deposit. Under the Mount Dromedary Graphite Joint Venture agreements Graphitecorp Operations Pty Ltd, a wholly-owned subsidiary of Graphitecorp, is appointed the Manager of the joint venture.
Under the arrangements Graphitecorp (or its nominee) will also be appointed as the Marketing Manager and Agent for all products produced by the joint venture.
Separate to the above, Graphitecorp is also the 100% owner of EPM 17323, which is contiguous with the portion of the Mount Dromedary graphite deposit within EPM 26025 and contains the south-west extension of graphite mineralisation, which represents approximately 10% of the currently mapped surface area of the deposit.
Mineral Resource Estimate
The independent Mineral Resource estimate for the Mount Dromedary graphite deposit was undertaken by RungePincockMinarco Limited (RPM) following the results of the Company’s Phase 2 Drilling program and released to ASX on 18 February 2016. The Mineral Resource estimate is based on exploration drilling and test results covering less than 25% of the total mapped prospect area.
The deposit includes a large high grade “Graphite Schist” mineralisation zone averaging 18.8% TGC (up to 35% TGC) with large flake size distribution being 43% jumbo to large flake size and outcropping over a strike-length of at least 3km with a variable width between 35m and 350m.
For the “Graphite Schist” zone of the deposit the Exploration Target calculated by RungePincockMinarco (RPM) is 22mt to 40mt of ore with an average grade range between 16% and 20% TGC equating to 3.5mt to 8mt of Contained Graphite.
The following table summarises the Total Mineral Resource. By far the most prominent ore type and zone throughout the deposit is the Graphitic Schist referred to below as the “High Grade” mineralisation. This zone of the deposit represents 916kt (or 80%) of the measured Contained Graphite Mineral Resource of 1,147kt.
This Graphitic Schist (“High Grade”) zone of the deposit is the highest grade with Total Graphitic Carbon content (TGC%) ranging between 15% and 35% and averaging 18.8%.
The Graphitic Schist (“High Grade”) zone of the deposit is the highest quality in terms of particle size distribution with 24.5% Jumbo flakes (>300 microns) and 43.4% Jumbo or large flake (>150 microns).
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The General Overview, Services, Products and Projects information for this profile was last edited on 12 Oct 2016.