Graphite Energy Corp. (CSE: GRE) (OTC: GRXXF) (FWB: GOA) Begins Drilling Operations

  • Graphite is key to clean technology, such as solar energy in homes and electric cars, per Bloomberg report
  • As demand increases, graphite prices projected to continue rising in 2018
  • GRXXF begins drilling on property in Southern Quebec after promising assay findings show up to 22 percent high-grade large flake graphite in site samples

Graphite Energy Corp. (CSE: GRE) (OTC: GRXXF) (FWB: GOA) has started drilling on its Lac Aux Bouleaux (“LAB”) graphite property located in Southern Quebec. Commencement of these operations follow shortly after the company received promising assay results confirming the presence of high-grade large flake graphite.

Graphite is an important element in electric cars and is key to lithium-ion battery technology, as well to fuel cells and nuclear and solar power. Demand for the mineral, also used in the automotive and steel industries, is rising globally. In addition, it is used in robotics manufacturing and in desalination plants. GRXXF believes that natural jumbo flake graphite is of special demand. A recent Bloomberg article points to graphite use in home battery packs for solar roof panels for companies such as Tesla. As a result, graphite is finding its role in the development of clean technology (http://nnw.fm/d2MMm).

GRXXF is a Canadian company that explores mineral properties in Canada. It holds the right to acquire 100 percent interest in the LAB graphite property, subject to royalties. The company has commenced core drilling at the property based on the promising assay results. During the assay, a graphite pit was found indicating historical extraction of graphite from the property. Other drill holes were also located on the property, the company said.

The assay results found in mineralized samples from several locations at the LAB property included graphite carbon (Cg) up to 22.3 percent. GRXXF said that the assay results confirm its initial thoughts about the presence of high-grade flake graphite and warrant further drilling and exploration on the property (http://nnw.fm/8gQX9).

Investing News reports that prices of fine flake graphite increased by 36 percent to $863 per ton, while medium size flake graphite grew 31 percent to reach $953 per ton last fall — the first price increase for graphite since 2016. Large flake graphite rose 25 percent to $998 per ton (http://nnw.fm/WpRT2). Investing News quotes research firm Roskill as saying that higher prices will continue in 2018.

For more information, visit the company’s website at www.GraphiteEnergyCorp.com

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