Canadian Platinum Corp. ("Canadian Platinum or CPC", TSX.V: CPC) has published the assay results from the graphite resource at its Peter Lake Project (the "Project"). The area had been originally explored for the presence of SEDEX type zinc deposits by Husky Oil and others during the 1970’s and 1980’s.
In the process of studying the copper and nickel potential at the property, Although the project continues to pursue its original copper and nickel targets; it has serendipitously encountered a massive 25 km. long graphitic argillite zone, which adds considerable potential to CPC’s prospects for the 500,000 acre site. A 2009 airborne survey identified two regional conductors that extend for 25 km within the Campbell River Group. Drill hole results have so far shown intersections of 142 m of graphitic argillite. A historical drill hole from the area came across 300 meters of graphitic argillite. Analysis of the graphite content of this hole has been assayed at 10.2% carbon. CPC will now perform liberation tests to determine the best way to release the graphitic carbon from the rock as well as inductively coupled plasma (ICP) tests to detect the full extent of graphite mineralization in the samples.
Several international entities have identified graphite as a strategic resource, including the US State Department, the EU Commission and the British Geological Survey; it is destined to become even more critical as electronic and battery technology advance and make electric vehicles more viable and popular. While, there has been growing interest in graphite mining in North America and other parts of the world (outside of China), North America is still highly dependent on graphite imports from China, which is a risky prospect, given the resource nationalism being practice by the People’s Republic.
Clearly, given its confirmed 25 km graphitic strike zone, the property is larger than Northern Graphite’s Bissett Creek or Energizer Resources’ property in Madagascar; indeed, it could be one of the largest, if not the largest, graphite deposits in existence. The project is still in its inception stage; however, its sheer size alone is enough to send a very cool breeze in China’s direction, as it has the potential to generate enough natural and high grade graphite to significantly reduce dependence on Chinese graphite sources – at which point the cool breeze becomes an arctic wind.