Graphite One Resources Commissions JDS Energy and Mining Inc. To Complete Initial Scoping Studies
March 25, 2013 (Source: Marketwatch) — Graphite One Resources Inc. (gph:TSX-V)(gphof:OTCQX) is pleased to announce that it has commissioned JDS Energy and Mining Inc. (“JDS”), Vancouver, Canada to complete ongoing high level engineering and logistics studies pursuant to the completion of a Preliminary Economic Assessment “PEA”. Results of the studies will be published as available and will be part of the PEA for the Graphite Creek Property. JDS is a dynamic team of over 150 employees focused on delivering high quality engineering, construction, procurement and management solutions internationally.
As announced by the State of Alaska’s Department of Natural Resources (“DNR”), on March 8, 2013, Alaska’s ranking improved in the Fraser Institute’s 2012/2013 survey of the overall attractiveness of mining investment in 96 jurisdictions around the world from 25th to 19th. According to the report, the overall policy attractiveness of Alaska improved in the past year due to “increased survey ratings for availability of labor and skills (13 percent); the quality of the geological database (11 percent); and infrastructure (8 percent).”
“This new report shows how our collaboration with the Alaska legislature, industry, educators and other stakeholders is helping to improve opportunities and increase jobs in Alaska,” said Natural Resources Commissioner, Dan Sullivan. “The hard work of many Alaskans is reflected in this improved ranking for the State, including work by State Geologist Bob Swenson and officials from the Department of Labor and Workforce Development”The Graphite Creek Property comprises 129 claims totaling 6,799 hectares on the Seward Peninsula of Alaska, 65 kilometres north of Nome. Mineralization at the Graphite Creek Property is characterized by coarse crystalline (large flake) graphite (greater than 80 mesh) within graphite-bearing schist(s). Graphite mineralization is exposed at surface. The large flake graphite occurs as disseminations and high grade segregations and lenses in distinctive sillimanite-garnet-quartz-biotite schist(s) and/or quartz-biotite schist(s). The host schist(s) is continuous over 18 kilometres of strike length, based on mapping, sampling and airborne geophysics. Please refer to the January 21, 2013 press release where Graphite One reports the filing of a NI43-101 Technical Report with an inferred resource of 164.5 million tonnes at 4.61% graphite..
Graphite One Resources Inc. (gph:TSX-V)(gphof:OTCQX) is a mineral exploration company with extensive experience in the state of Alaska and a business strategy to identify, acquire, and explore high potential projects ready for rapid advancement. The Graphite Creek Property on the Seward Peninsula of Alaska fits with the Graphite One business strategy offering significant potential for the discovery and development of a large flake, graphite deposit exposed at surface. Graphite One has an option to earn a 100% interest in the Graphite Creek Property.
Dean Besserer, P.Geol., Vice President of Exploration for the Company and a “Qualified Person” under NI 43-101, is responsible for and has reviewed and approved the technical content of this press release.
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