Impact: Positive
E-Power Resources reported assays from the Phase I 2023 drill program (18 holes for ~2,651m) completed at its 100%-owned Tetepisca graphite project in Quebec. Drilling tested four main targets including Graphi-Centre, Captain Cosmos, 1078, and Southern. Results demonstrated resource potential at all targets except the Southern target, with Captain Cosmos returning the highest grades at 23.97% Cg over 5.15m. In our view, these are positive initial results from Tetepisca that confirm the existence of high-grade mineralization across the property and highlight further exploration potential. We look forward to a Phase 2 drill program (~5,000m) in 2024, which would be followed by metallurgical testwork, and eventually feed into a maiden MRE at Tetepisca.