news out!! Mason Graphite reports 658% increase in measured and indicated mineral resources to 50 million tonnes, including 6.7 million tonnes grading 32.4% Cg
- EXCELLENT PEA RESULTS MAINTAINED: FIRST 22 YEARS OF PRODUCTION AT 27.4% Cg AND LOW OPERATING EXPENSES AT $390/TONNE
- CONFERENCE CALL WILL BE HELD TODAY AT 2PM EST
MONTREAL, Dec. 5, 2013 /PRNewswire/ - Mason Graphite Inc. ("Mason Graphite" or the "Company") (TSX.V: LLG; OTCQX: MGPHF) is pleased to announce significant resource growth in an updated mineral resource estimate for its 100%-owned Lac Guéret graphite project in northeastern Quebec.
Highlights from the updated mineral resource estimate
- Measured & Indicated ("M&I") mineral resources increased 658% from 7.6 million tonnes ("Mt") to 50 Mt
- Inferred mineral resources increased from 2.8 Mt to 11.9 Mt
- Overall M&I grade of 15.6% Cg; the main parameters of the preliminary economic assessment for the Lac Guéret project (the "PEA") are still valid: 22 years of production at 27.4% with a low stripping ratio at 0.76:1 and low operating costs at $390/tonne
- Enlarged mineral resource could lead to optimized pit design and improved economics