Gregory Bowes, CEO commented that: “The Company has been searching for a complimentary battery minerals asset for some time and South Okak exactly meets our criteria. It is a relatively advanced stage project with a substantial body of historical work that has enabled high quality targets to be identified relatively quickly with modern technology and geological concepts. It is elephant country in a politically stable jurisdiction and Ni/Cu/Co are key battery metals that will be in high demand as the electric vehicle and battery markets grow.”
Northern Graphite Corporation (NGC:TSX-V, NGPHF:OTCQB) (the “Company” or “Northern”) is pleased to announce that it has entered into an option agreement (the “Option Agreement”) to earn up to an 80 per cent interest in the South Okak Ni-Cu-Co project (“South Okak”), located 80 km southeast of Voisey’s Bay, Labrador. The South Okak area produced some of the best Ni-Cu-Co drill intervals outside of Voisey’s Bay during the 1990s exploration rush. The 6,350-hectare South Okak property has been consolidated into one exploration license for the first time and covers the most prospective ground. A substantial amount of historical data is available and advances in geophysical data processing including 3D modelling, and a much better understanding of the Voisey’s Bay geological controls, has already resulted in the identification of a number of highly prospective targets.
The South Okak property is located along the main structural break that hosts the high grade Voisey’s Bay deposits which are contained within a large, lower grade disseminated halo. Previous exploration in the South Okak area also resulted in the discovery of several areas containing significant intervals of disseminated low-grade Ni-Cu-Co mineralization but their significance was not fully appreciated. These areas need a second look now that the Voisey’s Bay model is better understood. Numerous untested geophysical anomalies exist within the claims and provide the Company with immediate exploration targets. Northern has commenced detailed data compilation and 3D modelling of the historical high-resolution airborne geophysical and drill hole data to identify the highest priority targets.
For the full article please click the link below
http://www.northerngraphite.com/_resources/news/South%20Okak%20Option.pdf
Share of Mineral Demand from Energy Storage (source:IEA)
IWA is a shareholder of Northern Graphite Corporation.
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