A $7.5-million financing is in place and regulatory approvals have been obtained by Cal Graphite Corp. of Lively, Ont., to bring its big graphite deposit at Granite Lake, 155 miles north of Toronto, into production.
Final engineering and environmental design work for a 3,000-ton-per -day open pit mine is underway, according to President John M. Stirling.
A bulk sample of the ore has been tested at the Mineral Research Centre in Quebec City. Final processing of the rough concentrate produced a high-quality crystalline flake graphite concentrate with half of the flake being plus 48 mesh size with a graphitic carbon content of 97%.
The research centre used large, vertical flotation columns, a new piece of mineral processing equipment developed in Canada and marketed by Column Flotation Co. of Canada in Val d’Or, Que.
The coarse ground, minus 20-mesh size feed produced a one-to-one roug h concentrate which recovered 99.98% of the graphite flakes.
The only chemical reagents used in the system were 22 drops of kerosene per ton of water.
Equity financing will increase the company’s float to 6.36 million shares. This week they traded in Vancouver at about $13.
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