ONTARIO – Northern Graphite Corp. of Ottawa has completed a bankable feasibility study for its 100% owned Bissett Creek graphite deposit near Renfrew, ON. According to the company, the study confirms the technical and financial viability of building an open pit and 2,300-t/d processing plant.
The Bissett Creek deposit has a probable reserve of 19.0 million tonnes grading 1.89% Cg (graphitic carbon). That translates into a mine life of 23 years. Capital costs would be $102.9 million including contingency, and average annual production in the first five years would be 18,600 tonnes of 94.5% C graphite concentrate. Northern Graphite expects that over the first five years, cash mine operating costs will average $851/t of concentrate.
The Bissett Creek projects includes building a natural gas pipeline to the Trans Canada supply 15 km from the mine site. The natural gas will fuel five 1.0-MW generators and the waste heat will dry the concentrate. Northern Graphite is confident that overall energy costs will be low.
The company plans to file its mine closure plan with the Ontario Ministry of Northern Development and Mines within three weeks.
The Northern Graphite site NorthernGraphite.com includes a 43-101 report, drill hole location map and complete table of drill results.