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Eagle Graphite Incorporated
Summary
| Project: | Black Crystal | |
|---|---|---|
| Deposit: | Black Crystal | |
| Location: | Canada | |
| Commodities: | Graphite | |
| Date: | 7/9/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing PEA | |
| Report details: | 9-7-2018: Eagle Graphite Incorporated announces a Resource Estimation report for its Black Crystal deposit at the Black Crystal project. Updated mineral resource estimate at the project. The Black Crystal Property (the Property) is located approximately 6 | |
| Resources: | (Resource, M+I): 19.233Mt @ 1.35% C for 259.3Kt Graphite | |
| CP/QP: | [Resources]: Cameron Norton (Tetra Tech/Coffey Mining Ltd.) | |
| ABSTRACT: | The Black Crystal Property (the Property) is located approximately 60 kilometers (km) northwest of the town of Castlegar in British Columbia, Canada. To the north of the Property is Eagle Graphite’s previously producing graphite quarry, and to the south, is a processing facility with a historical throughput of 20 tonnes per hour (tph). Eagle Graphite Corp. (Eagle Graphite) owns 100% rights to the Property claims and mining lease. Eagle Graphite’s land holdings in the area comprise of seven staked claims covering 2,214 hectares (ha), along with two mining leases covering 300 ha, for a total combined area of 2,414 ha. Eagle Graphite currently holds an active Quarry permit (Q-5-129) along with two mining leases for the extraction of graphite on the Property. Under the terms the quarry permit, Eagle Graphite is permitted to extract from the quarry up to 116,000 tpy of plant feed, corresponding to an estimated 7,500 tpy graphite. The Company can apply to amend the permit for an increase to as much as 500,000 tonnes of quarried product in a single year, or as much as 1,000,000 tonnes of quarried product over 4 years before being subject to an Environmental Assessment. A water license (C117612) is also in place which allows Eagle Graphite to draw 98,000 liters per day of water from Koch Creek for use in the plant site. Currently, two onsite wells provide the necessary water to the plant for operational purposes. A royalty agreement is in place between Eagle Graphite and 10 individuals (“the Holders”) whereby the company is obligated to pay the Holders royalties of 0.25% from the net proceeds of the sale of along with any by-product sales, such as sand and gravel extracted from the Property. No environmental liabilities are known to exist on the Property | |
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