South Star Battery Metals Corp has successfully completed a maiden mineral resource estimate (MRE) for its BamaStar graphite project in Alabama.
The independent MRE includes 520,000 tonnes of contained graphite with an open pit-constrained mineral resource estimate of 22 million tonnes of inferred resources at an average grade of 2.4% graphitic carbon, based on a 1.1% cut-off grade.
The estimate is based on 12 drill holes totaling 506 meters of HQ diamond drilling completed in 2022.
The mineral resource estimate confirms the significant potential of this historical mine with graphite mineralization open at depth and in both directions, the company said. It also confirms the deposit is amenable to open-pit mining operations with at-surface mineralization and low strip ratios.
"The BamaStar maiden mineral resource estimate is a fantastic result and confirms the potential for a significant deposit at this historical mine with at-surface mineralization that should be amenable to open pit mining techniques and low strip ratios,” CEO Richard Pearce said in a statement.
“It's one of two projects in the continental United States with a defined mineral resource estimate. The preliminary drilling program was designed to test limits and continuity, and the team successfully achieved those objectives.”
The next drilling program (2,000-2,500 m) is under contract and expected to begin in May, which will support a NI43-101 preliminary economic assessment planned for the first quarter of 2024.
Ultimately, South Star expects BamaStar to begin production in 2027.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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