Gratomic Inc. (TSX-V:GRAT, OTCQX:CBULF) announced that it has completed the NI43-101 Technical Report for its wholly-owned Capim Grosso Graphite project, located in the northeastern Brazilian state of Bahia.
The Toronto-based multinational company said the NI43-101 Technical Report dated November 14, 2022, doesn’t omit any material scientific and technical information regarding its Capim Grosso asset and has an effective date of October 29, 2022.
The report was co-authored by Nico Scholtz and Carlos Bastos and provides a summary of work carried out on the Capim Grosso project between 2021 and 2022 and recommends a follow-up exploration program for the property.
READ: Gratomic extracts 2,600 tonnes of graphite; bench-mining program enters mining phase at its Aukam project in Namibia
Investors can view the full document here.
The Capim Grosso graphite project is located within the São Francisco Craton (SFC), a tectonic domain surrounded by Neoproterozoic orogens. Its southern sector is composed of Archean crust, with an age between 3.5 and 2.6 giga anum (Ga), that is formed mostly by granite-gneisses and greenstone belts constituted by mafic-ultramafic, intermediate-felsic volcanic and volcanoclastic rocks with terrigenous sediments.
The exploration work completed by Gratomic Inc. (TSX-V:GRAT, OTCQX:CBULF)udes the excavation of exploration trenches over delineated target areas. Graphite mineralisation intersected in these trenches has been followed up with exploration diamond drilling.
“The results of the trenching and drilling to date warrants additional expenditure and confirm the good exploration potential of the Capim Grosso project,” noted the company.
The company said an exploration program has been designed over two stages which entail:
- Stage 1: Trenching followed by Diamond drilling on defined targets
- Stage 2: Mineral Resource Estimation and metallurgical testing
In a statement, Gratomic CEO Arno Brand said: "We are extremely pleased with the results of the 43-101 on Capim Grosso. This is the material evidence that we are in the right direction of becoming a major international player and early mover in the graphite market by developing this project."
Gratomic has completed a total of 4,051.15 meters of the 5000-meter drilling campaign on its Capim Grosso project and has completed 28 diamond drill holes with further diamond drilling continuing.
"Right jurisdiction, very high-quality deposits, tonnage, competent team. This report just reflects the confidence we all had in this project since the beginning," said Armando Farhate, COO and head of graphite marketing and sales at Gratomic.
Gratomic has projects in Namibia, Brazil, and Canada and is focused on becoming a leading global graphite supplier. The company aims to secure a strong position in the electric vehicle (EV) battery supply chain.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive