RE:RE:Value as Operating Companyhttps://alabamagraphite.com/news/alabama-graphite-corp-files-technical-report-for-the-coosa-graphite-project/
The maiden resource estimate for the Coosa Graphite Project, Coosa County, Alabama, is based on the results of a 69 hole, 20,414 foot drill program. The indicated resource is estimated at 38.2 million tons grading 2.60% graphitic carbon (“Cg”), based on a 2.0% Cg cutoff. In addition there is an inferred resource estimated at 27.0 million tons grading 2.87% Cg.
Graphitic Carbon Indicated Mineral Resources
|
Tons
|
Graphitic Carbon (Cg%)
|
Tons Cg
|
|
38,159,000
|
2.60
|
992,134
|
Graphitic Carbon Inferred Mineral Resources
|
Tons
|
Graphitic Carbon (Cg%)
|
Tons Cg
|
|
26,992,000
|
2.87
|
774,670
|
There were a total of 1,862 ten-foot-length composites used in the mineralization estimate. Results were calculated using Vulcan software and stored in a Vulcan block model. MMC used inverse distance squared (ID2) as the estimation technique. Mineralization was constrained by a geologic model. Resources were constrained to a Whittle Pit. Resources reported at 2% Cutoff Grade.
The reported resource was constrained by an optimized Whittle pit in order to identify that portion of the mineral deposit that may meet the reasonable prospects of economic extraction. The constrained pit resource was determined using a selling cost US$1,450 per ton graphite. Mining, milling and processing costs were estimated from publically available graphite project costs. A cost of US$2.00 per ton was used for mining and a cost of US$10.00 per ton was used for processing. Graphite recoveries were assumed to be 90%.
The Coosa pit measures 3,200 feet in a north-east direction and 1,900 feet in a south-east direction and has a maximum depth of 475 feet.