GRAPHITE ONE MAKES FINAL PAYMENT TO OWN 100% OF GRAPHITE CREEK DEPOSIT - KNOE 8 News; KNOE-TV; KNOE.com |

GRAPHITE ONE MAKES FINAL PAYMENT TO OWN 100% OF GRAPHITE CREEK DEPOSIT

Posted: Updated:
Graphite Creek is the largest and highest grade of known graphite deposits in the United States
Graphite One Resources is exploring with the intent to develop the Graphite Creek Project, USA’s only advanced-stage, large-scale, large-flake graphite deposit

Vancouver, British Columbia: Graphite One Resources Inc. (GPH: TSX-V, GPHOF: OTCQX) (“Graphite One” or the “Company”) is pleased to announce that it has satisfied all its obligations under the Graphite Creek option agreement by making the final option payment of USD 250,000 and now holds a 100% interest in the high-grade Graphite Creek deposit in Alaska. You can see this informative YouTube video at https://www.youtube.com/watch?feature=player_embedded&v=l2RVE0iJCeM

The project will now be governed by a 20 year lease with automatic renewal provisions. The lease agreement allows for a 5% net smelter royalty which can be reduced to 3% by cash payment of $2,000,000 for each one percent purchased. Graphite One has made significant advancements on the property since 2012. The Company, recently reported a NI-43-101 compliant inferred resource of 284.7 million tonnes at 4.5% graphite (including 37.68 million tonnes at 9.2% graphite and 8.63 million tonnes at 12.8% graphite). Please refer to the GPHOF reports at http://www.gphofreports.com/overview/graphite-creek/ for more details.

The inferred resource suggests that Graphite Creek is the largest and highest grade of known graphite deposits in the United States. Anthony Huston, President and CEO states, “I am very proud of our team in reaching this milestone. We have succeeded on all fronts, both financially and technically, to now own this asset 100% and will forge ahead to unlock the deposit’s value for shareholders.”

Graphite has many important new applications including its use in lithium ion batteries, fuel cells and nuclear and solar power that have the potential to significantly increase the demand for this critical element. Currently very “hot” information is coming from Tesla Motors: “announcement of our intention to build a huge battery manufacturing facility in the United States opens the door for our industry to compete for the right to supply purified and shaped battery grade materials to an industry innovator,” Tesla Motors announced, and added that it intends to invest $5 billion to construct a massive battery manufacturing facility somewhere in the southwestern United States.

On February 26, 2014, the New York Times reported the automaker expects to reduce the per-kilowatt cost of its battery packs by more than 30 percent by the end of the first year of volume production for its third-generation electric vehicle. At full production, the factory, known as the Gigafactory, would produce about 500,000 lithium-ion batteries annually by 2020, more than suppliers worldwide produced last year. Tesla’s aim, Mr. Baxter said, is to reduce input costs for both its world-leading electric vehicles and for energy storage units for its SolarCity solar power subsidiary.

SolarCity uses Tesla battery packs for its residential and business customers to lessen their dependence on electrical power from the grid. Mr. Baxter said Tesla’s move, as one of the highest profile driving forces in the world opens the door for graphite developers to make their case not only to Tesla, but all clean technology end-users to compare the cost-to-power advantages that come from of natural flake graphite. It is estimated that batteries for two million electric vehicles will create a demand for an additional supply of 160,000 tonnes per year of high-value purified graphite. Global production of flake is currently estimated at 500,000 tons per year.

About Graphite Creek

The Graphite Creek Property comprises 129 claims totaling 6,799 hectares on the Seward Peninsula of Alaska, 65 kilometers north (40 miles) of a deep sea port at Nome. Mineralization at the Graphite Creek Property is characterized by coarse crystalline (large flake) graphite (greater than 80mesh) within graphite-bearing schist(s). Please refer to the January 20, 2014 press release where Graphite One reports a NI 43-101 inferred resource of 284.71 million tonnes at 4.5% graphite (including 37.68 million tonnes at 9.2% graphite and 8.63 million tonnes at 12.8% graphite).

For more information and reports on Graphite Creek project please visit the website http://www.gphofreports.com/

Media Contact
Company Name: Graphite One Resources Inc.
Contact Person: Mike Johnson
Email: subscribe@gphofreports.com
Phone: 415-810-4198
Address:1289 Jim Rosa Lane
City: San Francisco
State: CA
Country: United States
Website: http://www.gphofreports.com/

  • Most Popular StoriesMost Popular StoriesMore>>

  • Man snatches purse of 75 year old woman at Glenwood Hospital

    Man snatches purse of 75 year old woman at Glenwood Hospital

    Monday, September 1 2014 10:13 PM EDT2014-09-02 02:13:05 GMT
    WEST MONROE, La. (KNOE 8 News) - A West Monroe man was arrest early Monday morning for snatching the purse of a victim over 65 years old.
    WEST MONROE, La. (KNOE 8 News) - A West Monroe man was arrest early Monday morning for snatching the purse of a victim over 65 years old.
  • Abortion law effective today, temporarily lifted for physicians that are in compliance

    Abortion law effective today, temporarily lifted for physicians that are in compliance

    Monday, September 1 2014 10:04 PM EDT2014-09-02 02:04:54 GMT
    MONROE, La (KNOE 8 News)- The never ending fight over abortion continues.
    MONROE, La (KNOE 8 News)- The never ending fight over abortion continues.
  • Black bear plays hide-and-seek in Winnsboro

    Black bear plays hide-and-seek in Winnsboro

    Sunday, August 31 2014 3:16 PM EDT2014-08-31 19:16:24 GMT
    WINNSBORO, La. (KNOE 8 News) - One KNOE viewer sent in some cute video of what looks to be a Louisiana Black Bear hanging out in a rice field.
    WINNSBORO, La. (KNOE 8 News) - One KNOE viewer sent in some cute video of what looks to be a Louisiana Black Bear hanging out in a rice field.
  • Man accused of stabbing his nephew

    Man accused of stabbing his nephew

    Monday, September 1 2014 4:10 PM EDT2014-09-01 20:10:07 GMT
    MONROE, La. (KNOE 8 News) - Monroe Police have arrested a Monroe man for stabbing his nephew. Police say the Donald Ray Myles and victim got into an altercation Thursday night around 10:30. Police say Myles stabbed the victim with a steak knife, and then the victim was rushed to the hospital. 
    MONROE, La. (KNOE 8 News) - Monroe Police have arrested a Monroe man for stabbing his nephew. Police say the Donald Ray Myles and victim got into an altercation Thursday night around 10:30. Police say Myles stabbed the victim with a steak knife, and then the victim was rushed to the hospital. 
  • Two suspects wanted for armed robbery

    Two suspects wanted for armed robbery

    Monday, September 1 2014 12:07 PM EDT2014-09-01 16:07:03 GMT
    MONROE, La. (KNOE 8 News) - Monroe police are looking for two suspects that robbed a Kangaroo convenient store. Police say two black males entered the store, located at 4320 Desaird Street, around 3:15 Friday morning. They say the suspects robbed the store at gun point and police were able to able to get a photo of one suspect. That suspect is described as a younger black male over six feet and it appears he is wearing a Neville sweatshirt. He is considered armed and dangerous. 
    MONROE, La. (KNOE 8 News) - Monroe police are looking for two suspects that robbed a Kangaroo convenient store. Police say two black males entered the store, located at 4320 Desaird Street, around 3:15 Friday morning. They say the suspects robbed the store at gun point and police were able to able to get a photo of one suspect. That suspect is described as a younger black male over six feet and it appears he is wearing a Neville sweatshirt. He is considered armed and dangerous. 
  • New S. Louisiana complex brings a job windfall to the state

    New S. Louisiana complex brings a job windfall to the state

    Monday, December 3 2012 12:34 PM EST2012-12-03 17:34:16 GMT
    WESTLAKE, La., (KNOE 8 News) - New complex in South Louisiana to bring more than 7,000 jobs to the area.
    WESTLAKE, La., (KNOE 8 News) - New complex in South Louisiana to bring more than 7,000 jobs to the area.
  • 49ers linebacker Aldon Smith suspended by NFL

    49ers linebacker Aldon Smith suspended by NFL

    Friday, August 29 2014 9:30 PM EDT2014-08-30 01:30:05 GMT
    San Francisco 49ers linebacker Aldon Smith has been suspended for nine games by the NFL after a series of off-field legal issues.
    The San Francisco 49ers have been preparing for months to play on without Aldon Smith over an extended period.
  • Second arrest made in April 2013 murder

    Second arrest made in April 2013 murder

    Saturday, August 30 2014 3:00 PM EDT2014-08-30 19:00:56 GMT
    MONROE, La. (KNOE 8 News) - A second arrest has been made in the April 2013 murder of Steve Brown.
    MONROE, La. (KNOE 8 News) - A second arrest has been made in the April 2013 murder of Steve Brown.
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KNOE. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.