Graphite search begins as Industrial drills at Bissett Creek

Jul. 10, 2010 - Northern and Industrial stated on Wednesday that they plan to confirm the results of historical drilling, and determine whether there is enough graphite on the Bissett Creek site to increase production.
Through drills of almost 250 holes in the 1980s, it is estimated that the one-kilometre wide and three kilometres in strike site has 14.6 million tonnes of 2.24 per cent graphitic carbon, with additional inferred resources of 18 million tonnes of 2.21 per cent graphitic carbon.
There is reason to get going, the company added, because graphite prices have doubled in the past couple of years as the nascent economies of India and China are looking to use the resource in steel, cars, fuel cells, lithium-ion batteries and nuclear and solar power.
China currently produces 80 per cent of the world's lithium, Industrial stated, but exports are slowing down as taxes and licensing in the country have been put in.
Industrial stated that it believes a mine in that area would last around 40 years, given the resources estimated. Drilling so far has only covered the southern area of the property; plans are now to extend that work to the north.