Hexagon Energy Materials Ltd previously controlled the project. Shortly it will be this company with 80% graphite rights to the McIntosh Graphite resource. Exciting times ahead.
Chase Mining Corporation Ltd Executive Chairman Dr Leon Pretorius commented: “This is a transformational acquisition for the Company, being able to earn the graphite rights (80%) to the McIntosh Graphite project known as one of the most advanced and largest graphite resources in Australia. The McIntosh project has more than 40,000 metres of graphite focused drilling conducted on the property and extensive metallurgical test work providing a unique opportunity to advance a critical mineral project to development at a pivotal time where sovereign supply of graphite located in a Tier 1 mining jurisdiction is limited.”
The Company is also progressing an update of a pre-feasibility study for McIntosh previously completed by Hexagon Energy Materials Limited (ASX: HXG) (Hexagon) in May 2017 and has appointed CPC Engineering for the update.
Management Team Additionally, Chase Mining recognises that in order to realise the projects significant economic value, an experienced and dedicated management team is required to drive the project through resource expansion and feasibility studies all the way through to offtake and production. This is the strong focus of Chase Mining and it is in advanced stages of a recruitment process to assemble an experienced management team to deliver on the Company’s objectives, with an exciting short list of candidates, the Company looks forward to announcing these appointments to the market shortly.
CML Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
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