Graphite One Recognized in Critical Hearing
OREANDA-NEWS. Graphite One Resources Inc. (TSX VENTURE:GPH)(OTCQX:GPHOF) ("Graphite One" or the "Company") is pleased to report that the Company's Graphite Creek Deposit near Nome, Alaska was one of two Alaskan strategic mineral projects cited in testimony to the U.S. Senate on May 12, 2015.
The testimony, before the Senate's Energy and Natural Resources Committee, was delivered by Edmund Fogels, Deputy Commissioner of the Alaska Department of Natural Resources ("DNR"). In the context of a discussion of critical and strategic minerals, Mr. Fogels called the Graphite One deposit (along with Ucore Rare Metal's rare earth deposit) one of two "exciting projects that the Committee should be aware of," noting that the U.S. has had no graphite production since 1991.
"We are gratified that our project was cited during the Senate's deliberations on a new national critical minerals policy," said Anthony Huston, President & CEO of Graphite One. "We are focused on developing our deposit as a source of high-quality graphite to meet growing domestic and global demand."
In his testimony, Commissioner Fogels cited Alaska's unique range of known mineral resources, ranging beyond graphite to a total of 16 critical and strategic minerals. "As the United States strives to further advance high-tech manufacturing," Mr. Fogels told the Senate Committee, "secure supplies of these inputs become even more important to our nation's economic and national security." Supporting documents provided by Mr. Fogels show that graphite is one of 6 critical and strategic minerals for which the U.S. is presently 100% import-dependent.
With an inferred resource of 154.36 million metric tons at 5.7 Cg, Graphite One's Graphite Creek deposit is the largest natural flake graphite project in the United States. The deposit also shows unique mineralization features described as Spheroidal, Thin, Aggregate and eXpanded, or STAX. The Company believes that STAX has the potential to have a positive impact on the Preliminary Economic Assessment ("PEA").
As previously announced in the Company's April 13, 2015 media release, on March 22, 2015, Graphite One Advisory Board Member Dan McGroarty was interviewed in a CBS "60 Minutes" segment titled: "Modern Life's Devices Under China's Grip." The segment highlighted the dangers of foreign dependency on elements essential to green technologies, high technologies and advanced weapons systems.
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