Golden Grove Graphite – Saint John
The 100 % owned Golden Grove Graphite deposit is located 24 kilometres northeast of Saint John, NB. The Deposit has been known since the mid 1930′s and has assayed up to 31.74% graphite. Previous drilling blocked out approximately 25,000 tons of 22.37% graphitic carbon but no work has been carried out on the property since 1987. Graphite is a conductive, chemically inert mineral that is a key component to almost all batteries, fuel cells, brake pads, and is also a critical component in both the metallurgical and electrical industries. Graphite is similar to rare earths minerals in that they are largely monopolized by China. Current and planned production of high quality graphite is only a small fraction of the projected requirements of the battery and automotive industries. This suggests that the price of high quality graphite will at least maintain its current price of approximately $2,400 per tonne, and possibly approach that of synthetic graphite which currently sells for in excess of $19,000 per tonne.
