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- Mineral Commodities (MRC), through its subsidiary Skaland Graphite AS, updates the JORC mineral resource and maiden ore reserve at the Trælan Graphite Deposit in Norway
- The mineral resource is estimated at 1.84 million tonnes at 23.6 per cent total graphitic carbon (TGC) for 434,000 tonnes of contained graphite
- MRC has also announced a maiden ore reserve of 640,000 tonnes at 24.8 per cent TGC for 159,000 tonnes of contained graphite
- Mineralisation at Trælen remains open down-dip and the next phase of drilling will begin in Q1 2022 to support production expansion
- MRC ends the day four per cent in the red with shares trading at 12 cents
Mineral Commodities (MRC), through its subsidiary Skaland Graphite AS, has updated the JORC mineral resource and maiden ore reserve at the Trælan Graphite deposit.
The Trælan deposit is part of the Skaland Graphite Operation in Norway which is the largest crystalline graphite producer in Europe.
The mineral resource is estimated at 1.84 million tonnes at 23.6 per cent total graphitic carbon (TGC) for 434,000 tonnes of contained graphite.
This represents a 92 per cent increase in the measured and indicated categories, as well as a 10 per cent increase in the contained graphite resources.
MRC has also announced a maiden ore reserve of 640,000 tonnes at 24.8 per cent TGC for 159,000 tonnes of contained graphite.
In respect to the current concentrate production rates, this represents roughly 13 years of production, however, MRC is evaluating its options to expand the reserves.
Mineralisation at Trælen remains open down-dip and the next phase of drilling will begin in Q1 2022 to support production expansion.
CEO Jacob Deysel commented on the release of the mineral resource and ore reserve.
“Whilst Trælen has been mined since 2007, it is important to frame the deposit in terms of standards compliant resources and reserves,” Mr Deysel commented.
“We have done this with our maiden JORC mineral resources estimate last year, and this update where drilling targeted the conversion of inferred resources.
“We are very excited to release this maiden ore reserve and an increase in resources at our Skaland Graphite operation in Norway, and look forward to further upgrades in 2022 as we target the deeper inferred resources and down-dip resource expansion.”
MRC ends the day four per cent in the red, with shares trading at 12 cents in a $64.19 million market cap.
