A low-risk, fully funded graphite project with quality downstream products
Our flagship McIntosh Project is a large-scale, high quality flake graphite deposit located in the Kimberley region of Western Australia.
Resources for the project currently sit at 21.3 million tonnes grading 4.5 per cent total graphite carbon (TGC) for 964,000 contained tonnes (25 April, 2017). There is a significant Exploration Target comprising 110 to 220 million tonnes grading between 2.5 and 5.0% TGC which the Company will drill test to build up the project life. Hexagon has deliberately focused its technical resources on verifying the technical attributes of the McIntosh graphite flake as a genuine driver of value rather than build up the “mining metrics”. Graphite is an industrial mineral where the focus needs to be on product specifications and marketing.
Partnered with ASX-listed Mineral Resources Limited (MRL), MRL will fund all Feasibility Study work, capital development and ramp-up costs to earn a 51 per cent interest in the project (subject to a positive feasibility study).
A Definitive Feasibility Study kicked off in mid-2018 and seeks to increase the Mineral Resource and to further optimise the process flowsheet to produce several flake graphite concentrate products defined by flake size.
Commercial production is planned to commence in 2021.
Metallurgical studies show McIntosh graphite is high purity, high value with low purification costs. The concentrate material can be purified to levels between 99.99(4N) and 99.999(5N) per cent (five nines graphite the “nuclear purity world”). As Hexagon sought to diversify its end use applications it found that the Mineral Resource is dominated by graphite flakes classed as Large, Jumbo and Super Jumbo size.
McIntosh graphite meets many premium end use requirements and has a range of technical attributes. Its rare and highly ordered crystalline structures make it suitable to displace synthetic graphite and it is easy and low cost to produce purify and micronise with excellent electrochemical properties.