Jun 24 2015
Eagle Graphite Incorporated ("Eagle Graphite" or the "Company") is pleased to announce that a sample of 99.995% pure spheronized graphite has been produced using flake graphite from the processing plant of the Black Crystal project. Highly purified graphite is required for a number of advanced applications, including lithium ion (Li-Ion) batteries. Typical Li-Ion battery specifications demand a minimum purity of 99.95%.
Jamie Deith, President and CEO notes "We have attained a critical milestone with this result. While we fully expected that over time we would be able to meet purity requirements for batteries, exceeding our target by such a comfortable margin on the first attempt is a most welcome development. I have nothing but praise for the research team who have achieved this."
Purification was carried out using a method that does not make use of either hydrofluoric acid (HF), or caustic (NaOH), both of which are highly toxic substances. HF- and NaOH-based purification methods are widely criticised due to safety and environmental concerns. Mr. Deith adds, "The avoidance of HF and caustic is key to preserving our light environmental footprint. No consumer wants to find out that the batteries in their electric vehicle or home power storage unit were produced at huge environmental cost."
The 99.995% purity result is a significant step forward in achieving one of Eagle Graphite's near term objectives. Mr. Deith explains, "Upon going public in January of this year, we established two main objectives for 2015. Demonstrating that our graphite is suitable for Li-Ion batteries is important for diversifying our product range, and we will build on progress to date with further testing. We are simultaneously pursuing an expanded graphite resource for our project, with exploration programs at both our established Hoder Creek deposit, and in the mineralized area immediately adjacent to our processing plant." The commencement of exploration work in the plant area was announced on April 30, 2015, and preliminary results are expected in the third quarter of 2015.
Industry analysts project that between 2017 and 2020, North American graphite consumption for Li-Ion battery production may grow to exceed all other applications combined. Western North American consumption for batteries is expected to exceed 90,000 tonnes per year. (Sources: IM Magazine, USGS)
Eagle Graphite has the only graphite quarry in Western North America. It is the only North American junior graphite company with existing infrastructure, a quarry permit, and a flotation plant.
About Eagle Graphite
Eagle Graphite Incorporated is an Ontario company that owns one of only two natural flake graphite production facilities in North America, located 35 kilometres west of the city of Nelson in British Columbia, Canada, and 70 kilometres north of the state of Washington, USA, known as the Black Crystal graphite quarry. The Company's shares are listed on the TSXV under the symbol "EGA" and on the Frankfurt Stock Exchange under the symbol "NJGN".
Edward Nunn, P.Eng., a "Qualified Person" as defined by NI 43-101, has approved the scientific and technical information in this press release.