Core Viewpoint - Canada Carbon Inc. has received all necessary permits to initiate its third drilling campaign at the Asbury Graphite Property, which is expected to enhance its resource estimates and support a pre-feasibility study by the end of 2025 [1][4][6]. Group 1: Drilling Campaign Details - The upcoming drilling campaign aims to complete up to 5,200 meters of core drilling across a 5-kilometer mineralization trend at Asbury [2]. - This campaign will add to previous drilling efforts from 2022 and 2023, bringing the total core samples to over 10,000 meters, which will aid in de-risking the project [2][4]. - The company plans to utilize the data from this campaign to update its NI 43-101 resource report and complete a pre-feasibility study by December 31, 2025 [4]. Group 2: Resource Estimates and Historical Context - The maiden resource estimate reported an inferred resource of 4.14 million tons (Mt) with an average grade of 3.05% carbon grade (Cg), using a cut-off grade of 1.0% Cg [4]. - Asbury was previously an operational graphite mining project from 1974 to 1988, producing high-quality concentrate [7]. Group 3: Stakeholder Engagement - The company has engaged with local stakeholders, including the municipality of Notre-Dame-du-Laus and the Kitigan Zibi Anishinaabeg community, to discuss the project and incorporate feedback [5]. Group 4: Management Commentary - The CEO of Canada Carbon expressed confidence in the drilling campaign, stating it will validate assumptions regarding mineralization at Asbury and contribute positively to the local economy [6][7].
CANADA CARBON ANNOUNCES RECEIPT OF NECESSARY PERMITS FOR ITS THIRD DRILLING CAMPAIGN ON ASBURY GRAPHITE PROPERTY