Sitka Gold shares rise on high-grade results of initial diamond drilling at RC in Yukon
The assay results follow initial reports of visible gold at Rhosgobel in early October.
Northern Graphite (TSXV: NGC) announced the new resource estimate for its Mousseau property about 150 km north of Montreal and within trucking distance to the company’s Lac des Iles graphite mine.
The new numbers are: measured and indicated, 2.8 million tonnes grading 7.908% graphite; and inferred, 331,884 tonnes grading 9.254% graphite.
Formerly known as Mousseau West, Northern acquired the Mousseau property in October 2022. The land package was increased earlier this year with the inclusion of the Mousseau East property.
The Mousseau deposit outcrops at surface making it suitable for open pit mining. The deposit is open in several directions and other conductors exist on the property, representing additional exploration targets.
The graphite is mainly hosted by calcitic marbles which provide buffering capacity for the low level of sulphides which indicates that like Lac des Iles, any tailings would likely be non-acid generating.
“This report confirms the addition of almost 3 million tonnes of measured and indicated graphite resources to the company’s portfolio and supports our long-term growth strategy of leveraging LDI’s permitted plant and tailings facility to bolster our position as the only significant producer of natural graphite in North America,” said Northern COO Kirsty Liddicoat.
“Early test work indicates concentrate grades of +95% and recovery of 90%. We believe the next phase of drilling will expand resources further at Mousseau.”
