ONTARIO – The updated 43-101 study of the Kearney graphite mine 250 km north of Toronto, shows higher inferred and indicated resources – almost doubling the indicated portion. The former flake graphite producer operated from 1989 to 1994. Current owner Ontario Graphite, located in the town of Kearney, is planning to restart production.
The revised numbers include 51.5 million indicated tonnes that average 2.14% Cg (carbon graphite). The inferred resource includes 46.8 million tonnes at 2.0% Cg.
"These new resource estimates further highlight the production potential of the Kearney mine and secure Ontario Graphite's position as the largest confirmed graphite mineral resource project in North America," said Ellerton Castor, the company's CFO & chief administrative officer. "The new indicated resources alone will afford us at least 20 years of additional mine life, approaching 50-plus years of mine life assuming current nameplate mill capacity. The size of resource will enable Ontario Graphite to provide a stable and reliable source of high quality large flake graphite to our customers around the world."
Ontario Graphite has all the provincial permits required to restart the Kearney mine.
Please see OntarioGraphite.com for more information.
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