ALS Global (2023); high-grade vein graphite.
Project
Rabbit Creek — Wyoming
Secure U.S. jurisdiction. Known high-grade vein graphite in graphitic schist. Early-phase upside aligned with America’s battery and defense supply chain.
At a Glance
Confirmed by 2023 field mapping; open at depth.
WSGS-recognized occurrence; access, power, rail in region.
Overview
Rabbit Creek: The Last U.S. Graphite Frontier
Identified by the Wyoming State Geological Survey as a domestic graphite occurrence within graphitic schist, Rabbit Creek benefits from historical work (e.g., mid-century mapping/reporting) that reduces discovery risk. With graphite demand tied to EV anodes, grid storage, aerospace, and defense, a domestic U.S. source presents a meaningful supply-chain advantage.
- Only U.S. graphite deposit ever mined (limited early 1900s output; never scaled).
- USGS critical mineral context; national security relevance.
- Metamorphic host (graphitic schist); Archean origin with high-temperature graphitization indicators in literature.
Vein graphite in graphitic schist
Flake range ~100–500 µm • Open at depth
~95% secured footprint
Hayes 1–4 lode claims + State lease • ~5% in negotiation
Year-round access • Power nearby
UP / BNSF rail via Wheatland → Denver / MT giga-plants
Strategic Case
Why it matters
- U.S. imports nearly all natural graphite and anode materials; China dominates mining and refining.
- Policy tailwinds (DOE/DoD initiatives; USGS listings; WY HB 61 exploration credit).
- EV, grid, aerospace, defense, and advanced electronics drive multi-year growth.
Materials Potential
Vein graphite amenable to advanced materials pathways (graphene/oxide) alongside traditional battery-grade processing. Metallurgical testwork is the next step to validate flowsheet options, including spherical graphite routes.
Next Steps
Work Program & Value Catalysts
Focused program to de-risk geology, confirm product pathways, and advance approvals.
Geophysics & Drilling
Map continuity and geometry; target maiden resource definition.
- Priority lines & targets selected
- First-pass holes; iterative targeting
Metallurgy
Validate battery-grade potential and advanced-materials pathways.
- Bench-scale flowsheet & QA/QC
- Spherical / thermal purification screening
Permitting & Incentives
Advance approvals and leverage Wyoming exploration credits.
- Program filings & stakeholder engagement
- Pursue WY HB 61 exploration credit (up to ~$100k)
Subject to program optimization, QA/QC, and compliance review.
Competitive Landscape
Graphite One
- Grade: ~7.8–8.0% Cg
- Resource: ~11 Mt M&I @7.8%; ~92 Mt Inf @8%
- Status: FS complete (Apr ’25), FAST-41; prod. end-decade
~3× higher grade (~23.55% Cg) and WY rail/logistics vs. remote AK.
Westwater Resources
- Grade: ~3.05% Cg
- Resource: ~112 Mt (M&I+Inf) @3.05%
- Status: Permitting; plant construction (7.5 ktpa battery-grade)
~7× higher grade; open at depth (>2 mi host) vs. defined limits.
Titan Mining
- Grade: ~2.91% Cg
- Resource: ~22 Mt Inf (≈653 kt contained)
- Status: Q4 ’25 target; permits secured; demo plant operational
~8× higher grade; WY HB 61 ($100k credit) vs. NY cost profile.
— (early stage)
- Grade/Resource: TBD (exploration)
- Status: Option acquired; early advancement
Proven ~23.55% Cg assays over ~2.2 km strike; only U.S. deposit ever mined (historic, limited output).
Notes: Third-party values are placeholders pending compliance review and final citations. “Advantage” statements are comparative summaries based on preliminary research.
Strategic Thesis
Graphite: The Critical Metal Powering America’s Future
Graphite is the indispensable anode material for EVs, grid storage, and defense. The U.S. is effectively import-reliant; export controls and foreign refining increase risk. Building a secure, high-grade domestic supply is now a strategic imperative.
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DemandEVs & grids drive multi-year growth.
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ExposureImports + concentrated refining.
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PolicyDOE/DoD support; IRA; WY incentives.
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National InterestEnergy security & defense readiness.
Statements subject to verification, metallurgical testwork, and regulatory review.
Talking Points
Energy Transition Backstop
Graphite is the anode in virtually all lithium-ion cells used in EVs and grid storage. Domestic supply is essential to de-risk energy and industrial policy goals.
National Security
Defense, aerospace, thermal management, EMI shielding, and nuclear moderation depend on graphite-based materials.
U.S. Reliance → Opportunity
U.S. currently imports essentially all graphite; foreign refining/export controls raise urgency for domestic projects.
Rabbit Creek Advantage
High-grade assays (~23.55% Cg), ~2.2 km strike, Wyoming logistics, and potential eligibility for exploration credits support a compelling path from exploration to domestic offtake.
Quotations and third-party metrics are summarized for investor context and remain subject to verification and compliance review.
Next Steps
Advance Rabbit Creek
Geophysics + drilling → maiden resource; metallurgy → battery-grade pathways; pursue WY incentives.