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Goldcore Resources looks forward to an estimated 500% forecasted increase in demand for graphite driven by electric vehicle batteries

The company noted that graphite is one of the main minerals used in Lithium-Ion batteries and pointed out that Tesla CEO Elon Musk confirmed this point in a recent interview

Goldcore Resources Ltd -
Goldcore has some of the highest grade and largest flake graphite in the world

Goldcore Resources Ltd (CVE:GEM) (FRA:BK2P) has said it looks forward to an estimated 500% forecasted increase in demand for graphite as the world’s auto manufacturers turns towards electric vehicles (EVs).

The company noted that graphite is one of the main minerals used in Lithium-Ion batteries and pointed out that Tesla CEO Elon Musk confirmed this point in a recent interview, saying: “Our batteries should be called Nickel-Graphite because it's mostly Nickel and Graphite.”  The Musk interview can be viewed via the following link: https://www.youtube.com/watch?v=HmygPqI0-rw

Goldcore said this projected increase in demand for graphite will bode well for graphite explorers and producers that have the correct type of graphite that makes up the anode, the negative side, in Batteries. Electric vehicle batteries require very specific unique types of graphite.

READ: Goldcore Resources renames graphite project located in Northern Quebec from the "Lac Gueret South Project" to the "Berkwood Graphite Project"

Goldcore has some of the highest grade and largest flake graphite in the world. Over the past five years, the company has completed numerous drill programs on its Berkwood Graphite Project, located in Northern Quebec, that has intersected graphite in every hole. Metallurgy tests have been completed and the company has some of the highest grade and largest flake graphite in the world, making its graphite unique, with a robust mineral resource of high grade and large flake graphite.

The resource includes:

  • 3.29 million tonnes of Indicated and Inferred Graphite 
  • Average grade of 17% Indicated, 16.5 % inferred.  
  • Medium graphite averages 80% Large to jumbo flake 
  • Graphite easily purified to 99.95% 

The group noted that the majority of natural spherical graphite is produced in China, with their production levels increasing significantly over the past few years, most of which stays in China. Volkswagen, Mercedes Benz, BMW, and the large American auto manufactures have all pledged that they will move towards replacing the traditional fossil fuel burning cars with clean energy, with electric vehicles leading the way.  Many governments have mandated all new cars be electric by 2030 to 2040.  

Goldcore pointed out that its graphite is ideal for making Spherical Purified Graphite, the type needed for the anode in batteries. It said not only will the demand for graphite be brought on by the large auto manufacturers for electric vehicle batteries but Solar, Wind Farm, geothermal and other clean energies will also cause an exponential demand for graphite.  

 The group pointed to other significant advantages its graphite deposit offers:

  • Mining friendly district in northern Quebec, Canada.
  • Road accessible
  •  Multiple at surface “Graphite Mountain tops” all close together 
  •  Multiple at surface Graphite zones not yet drilled
  •  Existing proven Graphite resource only explored about 20 % still open in three directions
  •  Experienced management with over 150 years of collective mining experience
  •  Management has been involved in over 15 different producing mines
  •  Neighbour has been fully permitted and green-lighted by first nations, local communities, Government and Environmental aspects to build their Graphite Mine.

In a statement, Tom Yingling, president and CEO of Goldcore commented: “Electric Vehicle demand will cause a significant increase in all of the battery minerals. Bloomberg has forecasted the demand for Graphite to increase by 500% over the next several years. Goldcore has a proven resource of some of the world’s best Graphite.  We look forward to being part of the clean energy solution by providing world-class Graphite.”

Goldcore is managed by a team with over 150 years collectively with a proven track record of not just finding numerous mines but building and operating them too. The company owns 100% of the Berkwood Graphite resource in Northern Quebec.

Contact the author at jon.hopkins@proactiveinvestors.com

Quick facts: Goldcore Resources Ltd

Price: 0.325 CAD

TSX-V:GEM
Market: TSX-V
Market Cap: $12.36 m
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