Standard Graphite Corp.(TSXV:SGH) announced the acquisition of the Mousseau East deposit. The historical resource at Mousseau is located 40 kilometers north of Mont-Laurier in northwestern Québec. The Company is now faced with the task of assessing drill locations, cross sections, EM data and proposed mine plans from past operators at Mousseau.
As quoted in the press release:
The new property is located within 50 kilometres of Timcal Canada Inc.’s producing Lac-des-Iles Graphite Mine and currently the larger of the two producing mines in North America. With this new acquisition, Standard Graphite is now in a position to build a NI 43-101 resource by upgrading the historical non-compliant resource and with strategic exploration of the deposit.
Standard Graphite, President and CEO, Chris Bogart, said:
We are extremely pleased, having achieved this important milestone. This most recent acquisition advances Standard into a different category and brings the Company one step closer to production.” Benoît Gascon, Senior Vice-President, Business Development, further adds: “Given the amount of work done on it by Graphicor, a then graphite producer, and my knowledge of the market and the industry, I have a high level of confidence in its potential to provide graphite products suitable to meet the current and future requirements of the market.