Canadian miner sees future in graphite
Cranbrook-based Eagle Plains Resources (TSX-V: EPL) announced today that it has acquired, by staking, the 711-hectare Slocan Graphite Project, located 32 kilometres northeast of Nelson, British Columbia.
According to the company, the property hosts several large flake graphite-bearing outcrops and float occurrences known as the Tedesco Zone. Results from carbon graphite analyses ranged in grade from 1.2 to 3.5 per cent.
In a press release, the miner explained that the acquisition is consistent with its policy of identifying and buying out undervalued exploration projects during downturns within a particular commodity space.
Management added that there are other reasons behind the purchase. “Graphite is a naturally occurring form of carbon and is an excellent conductor of both electricity and heat. It is becoming increasingly important as a critical strategic component in advancing alternative energy solutions including wind and solar power, hybrid vehicles and other alternative energy uses. It is also a mainstay of the steel production industry.”
Canada is currently ranked as the world’s 5th largest supplier of graphite.