Agoracom Blog Home

Archive for the ‘Graphite’ Category

« Older Entries
Newer Entries »

Focus Graphite Announces Positive Preliminary Economic Assessment of Lac Knife Project

Posted by AGORACOM-JC at 12:18 PM on Monday, October 29th, 2012

OTTAWA, ONTARIO–(Oct. 29, 2012) – Focus Graphite Inc. (“Focus” or the “Company”) (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) announces positive results of the Preliminary Economic Assessment (“PEA”) on its Lac Knife Graphite Project (“Lac Knife” or the “Project”). The PEA was prepared by Roscoe Postle Associates Inc. (“RPA”), in collaboration with Soutex Inc. (“Soutex” – responsible for metallurgy and mineral processing) and demonstrates that the Project has robust economics and excellent potential to become a profitable producer of graphite. Highlights of the PEA are summarized below:

Operational Highlights:

  • Proposed Life of Mine production of 6.0 million tonnes (Mt) of mill feed at a grade of 15.66% graphitic carbon (Cgr), based on the initial Mineral Resource estimate disclosed on January 19, 2012
  • Mine Life of 20 years, open pit operation at 300,000 tonnes per year
  • Processing through a sequence of crushing, grinding, flotation, magnetic separation, thickening and drying, producing a primary concentrate of graphite of various grades and flake sizes
  • Tailings directed through sulfide flotation circuit in order to minimize the volume of acid-generating residues and to enable proper management of both acid-generating tailings and waste rock within a unique disposal site
  • Average graphite recovery of 91.3% at Lac Knife process plant
  • Life of Mine production of 928,000 tonnes of concentrate at 92% Cgr on average at Lac Knife, or approximately 46,600 tonnes of concentrate per annum (tpa)
  • Thermal purification upgrade of approximately 40% of the primary concentrate to 99.99% Cgr by an existing producer with inherent purification losses of 15%
  • Life of Mine Project production of 868,000 tonnes of concentrate at 93.5% Cgr on average, including 338,000 tonnes of high purity 99.95% Cgr product

Financial Highlights:

  • Exchange rate US$1.00 = C$1.00
  • PEA economics for the Project calculated based on graphite market prices of $10,000, $1,300, and $800 per tonne of battery grade (>99.95% Cgr, +100 mesh), medium grade (>90% Cgr, -100+200 mesh) and fine grade (>80% Cgr, -200 mesh) respectively, on a FOB mine basis
  • $246 million pre-tax Net Present Value (NPV) (at a 10% discount rate)
  • 32% pre-tax Internal Rate of Return (IRR)
  • $926 million pre-tax undiscounted cash flow
  • $3.7 billion total net revenue
  • Pre-tax payback period of 2.8 years
  • $154 million initial capital cost, inclusive of $33 million and $24 million in working capital and contingency (25%), respectively
  • $68 per tonne average unit operating cost at Lac Knife
  • $435 per tonne average unit operating cost, assuming thermal purification on a contract basis

Note: This PEA is considered by RPA to meet the requirements of a Preliminary Economic Assessment as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). The economic analysis contained in the technical report is based, in part, on Inferred Resources (as defined in NI 43-101), and is preliminary in nature. Inferred Resources are considered too geologically speculative to have mining and economic considerations applied to them and to be categorized as Mineral Reserves (as defined in NI 43-101). Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no certainty that the reserves development, production, and economic forecasts on which the PEA is based will be realized.

Gary Economo, President and CEO of Focus Graphite, stated, “This is a great day for the Canadian graphite industry, our shareholders and the province of Québec. Lac Knife is a world-class resource and the publication of our Preliminary Economic Assessment confirms Focus has the potential to become one of the highest-grade lowest-cost producers of graphite in the world. We enter a new phase now, where we can expedite our financing, advance customer off-take agreements, and construction of our purification and anode facilities.”

PEA SUMMARY

Project Location

The Project is located in the Côte-Nord administrative region of Québec. Fermont is the closest community and is located 27 km north-north east of the Project. Road distance from Montreal to Lac Knife is approximately 1,300 km and by all-season highway 389, it is 500 km from Baie-Comeau to Fermont. The municipalities of Wabush and Labrador City, in Newfoundland and Labrador are located 30 km from Fermont, and Wabush is home to a commercial airport with regular flights to Sept-Iles, Québec, and Montréal.

Geology and Mineral Resources

The Project hosts graphite enriched metasediments. Graphite occurs as lenses and bands. Currently, graphite rich rocks have been identified from drilling undertaken in 1989 and more recently in 2010-2011 with 12 drill holes aimed at twining the older holes with the objective of confirming the 1989 grade and lithology information. The mineralized zone extends approximately 650 m in length and 120 m in thickness. Mineralization reaches the surface under a layer of overburden. Mineralization is intersected at depths reaching 110 m. There is potential for the delineation of additional Mineral Resources at greater depth and along strike to the south.

On January 19, 2012, Focus released an initial NI 43-101 compliant Mineral Resource estimate in a Technical Report. RPA reviewed and accepted the current Mineral Resources and has declared them adequate to support the current PEA with one modification to the Mineral Resource classification. RPA elected not to classify any Mineral Resources as Measured and, as a consequence, converted the January 2012 Measured Mineral Resources to the Indicated category. The Mineral Resources are presented in the table below.

MINERAL RESOURCE ESTIMATE

Category Tonnage
(tonnes)		 Grade
(% Cgr)
Indicated 4,938,000 15.76
Inferred 3,000,000 15.58
Notes:
1. CIM definitions were followed for Mineral Resources.
2. Mineral Resources are estimated at a cut-off grade of 5% Cgr.
3. Numbers may not add due to rounding.
4. Cgr – graphitic carbon

Mining

Mining will be carried out using conventional truck and loader open pit mining methods. Life of Mine strip ratio averages 1.12:1. An owner-operated mining fleet is proposed over the life of the operation. Pre-stripping of overburden is required prior to commencement of mining operations.

Highlights of the production schedule are as follows:

  • A short ramp-up to full production with 270,000 tonnes produced in Year 1
  • Production of 300,000 tpa, or 822 tpd
  • Waste mining averaging 335,000 tpa

Production quantities total 6.0 Mt, at a grade of 15.66% Cgr. This includes mining extraction and dilution (at zero grade) factors applied to the potentially mineable graphite-bearing material.

Processing and Recovery

The selected process consists of crushing followed by a grinding and flotation separation circuit. The resulting concentrate is then thickened, dried and stored. The tailings generated by the concentration process passes through flotation cells to separate acid-generating tailings from clean non-acid tailings.

The PEA forecasted concentrate production is approximately 46,600 tpa with a tailings production expected at approximately 253,400 tpa. This is based on a concentrate average grade of 92% Cgr and a recovery of 91.3% derived from testwork results conducted by SGS Canada Inc. (SGS). Although laboratory and locked cycle tests were performed with a slightly higher potentially mineable ore grade than estimated, no significant impact is expected on the anticipated recovery.

Tailings, Waste Rock and Water Management

One of the challenges for the Project is the management of acid-generating materials. The graphite-bearing mineralization, the waste rock and the tailings showed acid-generating potential. Therefore, the mine water and the ore storage run-off water will likely be acidic. The global program to manage this issue will comprise the following:

  • Subaqueous co-disposition of acidic tailings and waste rock into a unique storage site: the tailings and waste rock storage facility (TSF).
  • Sulfide flotation to reduce the proportion of acidic tailings to 30% of the total volume.
  • Tailings managed in two separate streams.
  • Use of the 70% non-acidic alkaline tailings as inert material for encapsulation of acid-generating tailings and waste rock within the TSF.
  • Water treatment plant and polishing pond for pH neutralisation, metals precipitation, and sedimentation.
  • Water management to direct all industrial sourced waters through the water treatment plant and/or the polishing pond as required.

Thermal Purification

The Project considers the thermal purification of approximately 40% of the concentrate produced at the Lac Knife process plant. This portion of the primary concentrate production meets the specifications (+100 mesh, >95% Cgr) for purification to 99.99% Cgr. Graphite concentrate of this purity is used in battery production and other applications at high prices. It has been assumed that the thermal purification would be done under contract by an existing producer, with related losses of approximately 15%.

Revenue

Focus has initiated contacts with several major graphite consuming groups in North America, Europe and Asia. Marketing efforts have been targeted to high value end users requiring superior quality product in terms of product purity and flake size. Potential customers have provided Focus with product quality requirements and projected annual demand. RPA has reviewed these expressions of interest and is satisfied that there are sufficient indications of demand to support the projected PEA production forecast. To date, Focus has identified the following major product opportunities:

  • Ultra high purity thermo processed battery grade product based on large flake, high purity concentrate
  • Medium to fine flake graphite concentrate, -100+200 mesh, +90% graphitic carbon concentrate
  • Fine flake concentrate, -200 mesh, +80% graphitic carbon concentrate

Production quantities for each major grade category are based on the lock-cycle concentrate production test results and test recovery results from proprietary thermal purification processing of the high grade primary concentrate. Projected overall product volumes and product qualities are detailed in the following table.

PROJECTED PRODUCT MIX
Grade Tonnes (maximum annual) (1) Product Characteristics
Battery Grade 16,900 (2) >99.95% Cgr, +100 mesh
Medium Grade 11,200 >90% Cgr, -100+200 mesh
Fine Grade 15,500 >80% Cgr, -200 mesh
Total 43,600
Notes: (1) totals are rounded
(2) inclusive of conversion recovery factor from 19,900 t of primary concentrate

Current published prices for the Project’s major graphite product opportunities are detailed as follows.

Grade Basis Units Price Range
Synthetic, 99.95%C, Swiss Swiss border US$/kg 20 – 7
Crystalline, 90%C, -100 mesh FCL, CIF European port US$/t 1,400 – 1,100
Amorphous powder, 80%-85%C, Chinese FCL, CIF European port US$/t 800 – 600
Source: Industrial Minerals, September 2012

Freight and insurance costs are projected to be approximately $63/t for product sold to customers in the United States, $200/t for deliveries to Europe and $428/t for deliveries to Asia. RPA has reviewed various price scenarios and has assumed the following price in the economic analysis:

  • Battery Grade $10,000/t FOB mine – $9,572/t CIF equivalent
  • Medium Grade $1,300/t FOB mine – $1,237/t CIF equivalent
  • Fine Grade $800/t FOB mine – $600/t CIF equivalent

The price set used in the PEA averages $4,196 per tonne of graphite concentrates FOB mine prior any deductions for marketing, freight and insurance; or 16,900 tpa at $9,572/t (purification losses considered) and 26,700 tpa at $867/t on average, CIF considered.

RPA considers these graphite prices to be appropriate for a PEA-level study. It is noted that the processing for the Battery Grade product, which accounts for some 86% of LOM revenue, is based on an expression of interest by a producer and is by no means a certainty, however, RPA considers the assumption to be reasonable for a PEA.

Total net revenue is $3.7 billion, averaging $185 million per year. On a unit basis, net revenue is $615 per tonne milled.

Capital Costs

The estimated initial capital cost has been developed to include all mining, processing, infrastructure, tailings and indirect capital costs. The capital cost estimate includes a contingency of $24 million (25% of direct and indirect capital costs) and is summarized in the table below.

INITIAL CAPITAL COST ESTIMATE

Capital Cost Item Cost
($ million)
Surface Infrastructure 18.7
Mining (incl. pre-stripping overburden/waste) 11.2
Processing 36.4
Tailings / Waste Rock & Water Treatment 3.1
EPCM 9.7
Indirect/Owner’s 16.7
Warehouse Inventory 0.9
Contingency (25%) 24.2
Working Capital (3-month opex) 32.6
Total Initial Capital Cost 153.5

Sustaining capital, totalling $25 million consists of mine, process, and infrastructure equipment replacement, tailings and waste rock storage facility expansion, progressive environmental rehabilitation, and mine closure costs.

Operating Cost

The Life of Mine operating costs have been estimated for mining, stockpile re-handling, processing, tailings and water treatment, and general and administration. The operating costs are summarized in the following table.

OPERATING COST ESTIMATE

Operating Costs Item Cost
($/t milled)
Mining / Re-handling 15
Processing / Tailings and Water Treatment 41
General and Administration 12
Total Operating Costs 68

In addition, the unit cost for thermal purification under contract was derived from a budget quote by an existing producer and considered the approximate 15% losses during the purification process. This cost equates to $367 per tonne milled, therefore bringing the overall operating cost to $435 per tonne milled.

Preliminary Economic Assessment

Financial evaluation of the Project was carried out using a cash flow model, on a pre-tax basis. Estimates are based on constant 2012 dollar basis, with no provision for escalation. Results are provided in the following table.

PEA FINANCIAL RESULTS

Value
($ million)
Gross Revenue 3,894
Marketing and CIF 225
Net Revenue 3,669
Total Operating Cost 2,597
Operating Cash Flow 1,072
Initial Capital Cost 154
Working Capital Recovery (33)
Sustaining Capital 21
Mine Closure 4
Pre-Tax Cash Flow 926
Net Present Value
8% discount rate 316
10% discount rate 246
12% discount rate 192
Pre-Tax IRR 32.1%
Payback Period 2.8 years

NPV Sensitivity Analysis

Key economic risks were examined by running cash flow sensitivities on:

  • head grade;
  • recovery;
  • graphite market price;
  • operating cost per tonne milled; and
  • capital cost

The pre-tax NPV (at 10%) sensitivity analysis has been calculated for -20% to +20% variations on the above items, with the exception of recovery which has been calculated for -20% to +5%. There is minimal to no effect on NPV when the head grade and recovery factors are adjusted above 0% because of the Project market ceiling on graphite concentrate sales. The NPV sensitivity is shown in the following graph.

NPV (10%) Sensitivity Chart is available at the following link : http://media3.marketwire.com/docs/NPV_Sensivity_Chart.pdf

The technical and economic information relating to the PEA contained in this press release has been reviewed and approved by Marc Lavigne, M.Sc., ing., Senior Mining Engineer for RPA, Robert de l’Étoile, M.Sc.A., ing., Principal Geological Engineer for RPA, and Pierre Roy, M.Sc., P.Eng., ing., Senior Metallurgist Specialist for Soutex, all independent qualified persons under NI 43-101. The technical report will be filed on SEDAR on or before October 31, 2012.

Other News – Bi-Weekly Default Status Report

As previously reported, the Company is presently in default because of its failure to file the PEA and supporting technical report (the “Technical Report”) under NI 43-101 and will continue to be in default until such time as it files the required report on the Project.

In compliance with the alternative information guidelines set out in National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults (“NP 12-203”) for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws, Focus issued today a default status report by way of present press release confirming the Company’s objective to file the PEA and Technical Report at the latest on October 31, 2012.

Until Focus completes the filing of the PEA and Technical Report, and until the Management Cease Trade Order (“MCTO”) is subsequently lifted by the Ontario Securities Commission (the “OSC”), Focus will comply with the alternative information guidelines set out in NP 12-203. The guidelines, among other things, require the Company to issue bi-weekly default status reports by way of a news release so long as the PEA and Technical Report have not been filed.

The Company reports that since its original announcement on September 10, 2012 in respect of the notice of default received from the OSC and its subsequent announcement on September 25, 2012 relating to the issuance of the MCTO (collectively, the “Notice”), with the exception of the Company’s announcement today of the PEA results, there has not been any other material changes to the information provided in the Notice nor any failure by the Company in fulfilling its stated intentions with respect to satisfying the alternative information guidelines required pursuant to NP 12-203. In addition, there has not been any other specified default by the Company under NP 12-203, nor are any anticipated and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

This press release has been reviewed and approved by Marc-André Bernier, M.Sc., P.Geo. (Ontario and Québec), Technical Advisor and a Director of Focus, and a Qualified Person under NI 43-101.

About Focus Graphite

Focus Graphite Inc. is an emerging mid-tier junior mining development company, a technology solutions supplier and a business innovator. It is the owner of the NI 43-101 compliant Lac Knife graphite deposit grading 16% carbon as graphite. The company’s goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus Graphite is investing in the development of graphene applications and patents through Grafoid Inc.

Forward Looking Statements – Disclaimer

This news release may contain forward looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company’s expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com Focus Graphite disclaims any intention or obligation to revise or update such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

 

Mr. Gary Economo
President and Chief Executive Officer
613-691-1091, ext. 101
[email protected]
www.focusgraphite.com

Tags: , , , ,
Posted in Graphite | Comments Off on Focus Graphite Announces Positive Preliminary Economic Assessment of Lac Knife Project

Alabama Graphite Drilling at Coosa Graphite Project Intercepting Planned Target

Posted by AGORACOM-JC at 10:07 AM on Thursday, October 25th, 2012

Oct 25, 2012 — October 25, 2012 – Birmingham, Alabama, USA – Alabama Graphite Corp. (the “Company”) (cnsx:ALP) (frankfurt:1AG WKN A1J35M) has two diamond drill rigs on the Coosa Graphite Project in Alabama, USA operated by Major Drilling working on the phase one drill program. Eight core holes have been completed to date and additional holes are currently being bored. The two rigs on the property will work towards each other as twelve stratigraphic definition holes are expected be complete by late October 2012.

Preliminary core logging has revealed that graphitic schists are the dominant rock type encountered in each of the first five stratigraphic holes. Cross-sections based on the drill results indicate that the graphitic schist unit has a true thickness in excess of 1600 feet (515m). Sample preparation is underway with the first holes already at SGS laboratories for analysis. Initial assay results are expected before the end of the month.

Danny Spine CEO of Alabama Graphite Corp. commented: “We are very excited about the drilling which appears to have intercepted consistent graphite mineralization as expected. The core lengths look very encouraging as we now await assay results. The drill program remains ahead of schedule and under budget so we are pleased with the progress to date”

An access road has been prepared for entry into the resource development grid. This grid will outline phase two of the drill program and will be comprised of eighty reverse circulation and core holes to provide definition of the resource and provide material for metallurgical testing.

The Company expects initial fieldwork will be completed in 2012 and will use these results toward creating a preliminary resource estimate. The Company’s goal is to become the first operating graphite mine in the United States in sixty years.

As a result of European investor interest the Company, its common shares are now quoted on the Frankfurt stock exchange for trading under the symbol 1AG.F.

The drill program and QA/QC program is under the supervision of Dr. Douglas Oliver, PhD, VP Exploration of the Company. Dana Durgin, a Qualified Person as defined in National Instrument 43-101, has reviewed the contents of this news release.

Danny Gravelle of Goal Capital has joined the Company as Investor Relations.

About Alabama Graphite:

Alabama Graphite Corp., through its wholly-owned subsidiary, Alabama Graphite Company Inc., is a graphite exploration and development company whose flagship project “The Coosa Graphite Project” in Coosa County, Alabama is located in an area with significant historical production of crystalline flake graphite. For further details go to www.alabamagraphite.co .

ALABAMA GRAPHITE CORP.

Daniel Spine, CEO

(404) 661-6254

Danny Gravelle, Goal Capital Inc.,

Investor Relations

(949) 481-5396

[email protected]

THE CANADIAN NATIONAL STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Forward-looking information

This release contains “forward-looking information” within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking information includes, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as the planned exploration work allowing for a focus of subsequent exploration efforts on the most favourable areas and the definition of drilling targets. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “planning”, “planned”, “expects” or “looking forward”, “does not expect”, “continues”, “scheduled”, “estimates”, “forecasts”, “intends”, “potential”, “anticipates”, “does not anticipate” or “belief” or describes a “goal” or variation of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

Tags: , , , ,
Posted in Graphite | Comments Off on Alabama Graphite Drilling at Coosa Graphite Project Intercepting Planned Target

Diamond Frank Inc. Intersects Graphite on the Commandant Project

Posted by AGORACOM-JC at 10:22 AM on Wednesday, October 10th, 2012

LAVAL, QUEBEC–( Oct. 10, 2012) – Diamond Frank Exploration Inc. (TSX VENTURE:DOD) announces the results of its 2012 drilling campaign on the Commandant Project of which one drillhole has intersected two (2) graphitic bands.

The first drillhole (COM-12-01) initially planned for a depth of 500 meters, was extended to a depth of 648 meters. This drillhole has mainly intersected diorite units and highly to very highly sheared and deformed sediments (greywacke) and several tonalitic intrusions with centimetric to metric pegmatite dykes. Some pyroxenitic and grabbroic intrusions were also intersected. Some centimetric pyritic zones, with traces to 1% of chalcopyrite and pyrrhotite were intersected and well explain the targeted conductor.

The table below shows the best values obtained.

# DDH SAMPLE FROM (m) TO
(m)		 LENGTH
(m)		 Ag (ppm) Cr (ppm) Cu (ppm) Ni (ppm) Zn (ppm)
COM-12-01 K363185 68.50 69.50 1.00 0.5 168 237 166 1425
K363186 69.50 70.50 1.00 0.2 145 143 108 1085
K363187 70.50 71.50 1.00 -0.2 131 121 102 1315
K363188 71.50 72.50 1.00 0.3 152 230 132 1330
K363197 80.00 81.00 1.00 0.2 725 116 1095 90
K363198 81.00 82.00 1.00 0.3 573 60 1395 33
K363199 82.00 83.00 1.00 0.2 500 72 1310 40
K363207 116.50 117.50 1.00 0.2 984 172 1250 32
K363208 117.50 118.50 1.00 0.2 1115 43 1165 73
K363210 119.50 120.50 1.00 -0.2 135 198 93 1065
K363211 120.50 121.50 1.00 0.3 201 175 134 1905
K363212 121.50 122.50 1.00 -0.2 405 337 249 386
K363213 122.50 123.50 1.00 -0.2 1215 111 752 71
K363214 123.50 124.50 1.00 -0.2 1440 189 608 166
K363219 128.50 129.50 1.00 0.2 145 160 90 1025
K363220 129.50 130.50 1.00 0.2 344 213 167 561
K363221 130.50 131.50 1.00 -0.2 203 297 145 881
K363222 131.50 132.50 1.00 -0.2 141 131 105 1200

The second drillhole, (COM-12-02), planned for a depth of 800 meters, was extended to a depth of 946 meters. This drillhole has intersected lithological units similar to those of (COM-12-01). This drillhole targeted a geophysical anomaly (very strong conductor) which is explained by the presence of two (2) graphitic breccia zones within a strongly folded and deformed fine grained sedimentary sequence (greywacke). These graphitic zones show respectively relative thicknesses of 0.8 m and 0.3 m. Graphite is semi-massive to massive with medium grain size. Some centimetric sulphide-rich zones (pyrrhotite, pyrite and chalcopyrite) within a pyroxenitic unit were intersected and revealed some silver, chromium, copper, nickel and zinc anomalous values. (See table below)

# DDH SAMPLE FROM (m) TO
(m)		 LENGTH
(m)		 Ag (ppm) Cr (ppm) Cu (ppm) Ni (ppm) Zn (ppm)
COM-12-02 K363468 43.00 44.00 1.00 -0.2 134 262 333 1790
K363476 51.00 52.00 1.00 -0.2 141 151 322 1080
K363498 130.00 131.00 1.00 0.2 1120 5 745 56
K363499 131.00 132.00 1.00 -0.2 1000 169 1450 278
K362901 132.00 133.00 1.00 -0.2 1045 201 1515 62
K363036 642.00 643.00 1.00 0.3 1520 110 875 46
K363037 643.00 644.00 1.00 0.8 1990 13 665 165
K363042 648.00 649.00 1.00 2.6 16 561 254 2890
K363043 649.00 650.00 1.00 0.3 371 604 464 283
K363044 650.00 651.00 1.00 0.2 677 157 495 410
K363045 651.00 652.00 1.00 -0.2 557 26 284 129
K363046 652.00 653.00 1.00 0.6 139 719 450 433
K363047 653.00 654.00 1.00 0.4 24 1200 238 280
K363110 711 712 1 -0.2 1020 37 1015 24

Let’s recall that the Commandant Property is located at the limit between the Superior and Grenville Geological Provinces. An article on graphite was published October 3rd 2012 in “La Presse” newspaper, on pages 2 and 3 of the “Affaires” section.

ABOUT DIAMOND FRANK EXPLORATION INC.

Diamond Frank Exploration Inc. is banking on its properties’ excellent mineral potential for the development of new, world-class deposits.

For more information, visit SEDAR’s website at www.sedar.com or the company’s website at www.diamondfrank.com

The common shares of Diamond Frank Exploration Inc. are listed on the Venture Stock Exchange under the symbol “DOD”.

QUALIFIED PERSON

Mr. Daniel Gaudreault, P. Eng., Geol. (OIQ), from Geologica Groupe-Conseil Inc., is the Qualified Person as defined by National Instrument 43-101, to supervise the preparation of this press release.

Forward-looking statements

This news release contains statements that constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable securities legislation. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of Diamond Frank. Actual results or achievements may differ materially from those expressed in, or implied by, this forward-looking information. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Diamond Frank will derive therefrom. Forward-looking information is based on the estimates and opinions of Diamond Frank at the time the information is released and Diamond Frank does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Contact Information

Tags: , ,
Posted in Graphite | Comments Off on Diamond Frank Inc. Intersects Graphite on the Commandant Project

Atocha Completes Program on St. Sixte Graphite Property in Quebec

Posted by AGORACOM-JC at 5:32 PM on Tuesday, October 9th, 2012

October 9, 2012 – Vancouver, British Columbia, CANADA – Atocha Resources (the Company), TSX.V – ATT is pleased to announce its completion of the mapping and prospecting program on the Saint Sixte property.

Atocha’s Saint Sixte graphite property covers 1,740 hectares in the Grenville sub-province of the Precambrian Shield in Quebec.  The geological setting is considered to be favorable for deposits of graphite, gold, silver, copper, nickel, PGE (platinum group element) and REE (rare earth element) mineralization.

The Saint-Sixte property is located five kilometres west of the town of Saint-Sixte, Quebec just off Route 317, approximately 65 kilometres from Ottawa.  The property covers a known extension of an airborne magnetic low anomaly that extends directly from Soldi Ventures Inc. (TSX.V- SOV) Lochaber graphite property.  Located in a historic graphite mining district, it was initially explored for graphite in the early 1950′s and again in the 1980′s.

The Company hired a ground team to conduct a mapping and prospecting program to investigate the potential on the Saint-Sixte property.  Reconnaissance mapping of the area has been done and any significant rock samples will be sent for analysis to Activation Laboratories.  Updates on the results will be announced as soon as they become available.

The Saint Sixte property is 100% owned by Atocha as staked claims and is not subject to any NSR or work commitments.

The technical information in this news release has been reviewed by Derrick Strickland, P.Geo.

Shareholders and Investors are encouraged to sign up to the Company mail list in order to receive timely updates. Please visit www.atocharesources.com or email [email protected] to add your contact details.

ABOUT ATOCHA

Atocha is a natural resources company engaged in the acquisition and exploration of mining/exploration properties, mainly for gold and other precious metals.  The Company has a 100% undivided interest in the McGillivray and KO Properties, located in British Columbia.  Atocha owns the Sol Riche and Tresor Nord/Sud REE properties in Montviel Township in Quebec, the Trove, Descouverte and Bijou gold properties in the Abitibi of Quebec, the Montpellier and St. Sixte graphite properties in the Grenville region of Quebec, and the Stubble property in Saskatchewan. The Strike 101-114 gold claims near Dawson City, Yukon are under option to Goldstrike Resources as announced on May 15, 2012.

For further information on Atocha, please refer to www.sedar.com.

For further information, please contact:

Marcy Kiesman, Chief Executive Officer
Telephone: 604.696.1111
Facsimile: 888.266.3983
E-mail: [email protected]
Website: www.atocharesources.com

Forward-Looking Statement

This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to Atocha Resources Inc., please refer to the Company’s Prospectus filed with SEDAR.

“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Tags: , , ,
Posted in Graphite | Comments Off on Atocha Completes Program on St. Sixte Graphite Property in Quebec

Zenyatta Ventures Achieves High Grade Purity of 97.2% C (Graphite) on First Test; On-Going Work Targets Greater Than 99.0% Purity

Posted by AGORACOM-JC at 9:10 AM on Thursday, October 4th, 2012

THUNDER BAY, ONTARIO–(Oct. 3, 2012) – Zenyatta Ventures Ltd. (“Zenyatta” or “Company”) (TSX VENTURE:ZEN) is pleased to announce that a first pass beneficiation test at SGS Canada Inc. (“Lakefield”) demonstrated a leaching process capable of producing a 97.2% C (total) graphite product from a rough concentrate. Work is on-going to target purity levels of >99.0% C with results from a second series of tests expected soon.

Aubrey Eveleigh, President and CEO, stated “It is very significant and remarkable to start with such a high purity level of greater than 97% graphite on the first test. Management is excited with the latest successful metallurgical developments and considers higher purity graphite achievable with fine-tuning of the process.”

In conjunction with Don Hains of Zenyatta, Lakefield metallurgical test work of the Albany graphite material continues to develop a simple concentration and leaching process to produce an ultra-high purity (>99.0% C) graphite product. Again, mineralogical work shows the graphite material to be very simple and contains insignificant amounts of undesirable material. This confirms an earlier mineralogical report prepared by Dr. Andrew Conly, Ph.D. of Lakehead University.

Aubrey Eveleigh also stated “Presently, Zenyatta’s Albany is the only new vein type graphite deposit being developed in the world. It is the only one of its kind outside of the mined vein type graphite deposits of Sri Lanka.”

Sri Lankan vein type graphite grades are available in purities ranging from 80-99% carbon with the majority above 90%. The Bogala Mine, a Sri Lankan graphite deposit, has been in production since 1847. It is a narrow (20cm), high grade underground mine. Sri Lankan graphite still enjoys great demand due to its unusually high purity and unique physical properties. Graphite veins are quite rare and in many industrial applications offer superior performance due to higher thermal and electrical conductivity.

The Albany (vein-type) graphite deposit is located 30km north of the Trans Canada Highway, power line and natural gas pipeline. A rail line is located 70km away and an all-weather road approximately 4-5km from the graphite deposit. The Albany deposit is near surface, underneath glacial till overburden.

The outlook for the global graphite market is very promising with demand growing rapidly from new applications in clean technology. China produces over 70% of global supply and, like other commodities, now has less available for export as domestic demand grows. As global demand outstrips supply, graphite prices have increased substantially, more than doubling over the past three years.

Graphite is a natural form of carbon with the chemical formula C, which it shares with diamond and coal. It is now considered one of the more strategic elements by many leading industrial nations, particularly for its growing importance in high technology manufacturing and in the emerging “green” industries, such as electric vehicle components. The application for graphitic material is constantly evolving due to its unique chemical, electrical and thermal properties. It maintains its stability and strength under temperatures in excess of 3,500°C and is very resistant to chemical corrosion. It is also one of the lightest of all reinforcing elements and has high natural lubricating abilities. Some of these key physical and chemical properties make it critical to modern industry.

Mr. Aubrey Eveleigh, P.Geo., President and CEO, is the “Qualified Person” under NI 43-101 and has reviewed the technical information contained in this news release. Analyses were carried out by SGS Canada Inc. lab using a total carbon (LECO) method. To find out more on Zenyatta Ventures Ltd., please visit website www.zenyatta.ca.

This News Release includes certain “forward-looking statements”. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “should” or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company’s mineral properties, and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

 

Zenyatta Ventures Ltd.
807-346-1660
[email protected]
www.zenyatta.ca

Tags: , , , ,
Posted in Graphite | Comments Off on Zenyatta Ventures Achieves High Grade Purity of 97.2% C (Graphite) on First Test; On-Going Work Targets Greater Than 99.0% Purity

Focus Graphite Updates the Timing of a PEA for its Lac Knife, Quebec Graphite Resource

Posted by AGORACOM-JC at 11:17 AM on Tuesday, October 2nd, 2012

OTTAWA, ONTARIO–(Oct. 2, 2012) – Focus Graphite Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) (“the Company”) wishes to provide the following shareholder update regarding the timing of the release of its NI 43-101 compliant Preliminary Economic Assessment (PEA) and supporting Technical Report (the “Technical Report”) for its Lac Knife, Quebec graphite resource.

Due to a requirement set by the Ontario Securities Commission to file the Technical Report on SEDAR by no later than October 31, 2012, the Company will be issuing a news release summarizing the results of the PEA together with the Technical Report on or before October 31, 2012. Roscoe Postle Associates is completing this report for Focus.

About Focus Graphite

Focus Graphite Inc. is an emerging mid-tier junior mining development company, a technology solutions supplier and a business innovator. It is the owner of the NI 43-101 compliant Lac Knife graphite deposit grading 16% carbon as graphite. The company’s goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus Graphite is invested in the development of graphene applications and patents through Grafoid Inc.

Forward Looking Statements – Disclaimer

This news release may contain forward looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company’s expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com Focus Graphite disclaims any intention or obligation to revise or update such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Tags: , , , ,
Posted in Graphite | Comments Off on Focus Graphite Updates the Timing of a PEA for its Lac Knife, Quebec Graphite Resource

Strike Graphite Intersects Significant Flake Graphite During 2012 Drill Campaign

Posted by AGORACOM-JC at 9:35 AM on Tuesday, October 2nd, 2012

VANCOUVER, BRITISH COLUMBIA–(Oct. 2, 2012) – Strike Graphite Corp. (TSX VENTURE:SRK) (the “Company”) is pleased to report drill results for the spring 2012 exploration program at the Simon Lake Graphite Property, located in north-central Saskatchewan.

Blair Way, CEO remarks, “These initial drill hole results are very exciting and continue to verify our interpretation of continuity for the 25 k strike length of the EM conductor. The high graphitic carbon content and potential scale of the Simon Lake graphite occurrences warrant follow up metallurgical test work to confirm flake size distribution and more drilling along the strike length of the conductor.”

During late spring, the company completed four diamond drill holes within the historic Simon Lake trend (see attached location map or click the following link: http://www.strikegraphite.com/Simon-Lake-Geophysics-DDH-Sept-25.pdf). Three conductive zones were targeted, and tested small portions of the approximately 25 kilometre conductive trend. Results of the exploration program confirm substantial widths to the graphitic horizon; which are thought to form a continuous mineralized horizon that continues to surface.

Highlights:

  • Hole SL-12-002: 93.8m of 2.11% Cg, including 32.8m of 3.30% Cg
  • Hole SL-12-003: 25.3m of 3.00% Cg, including 11.2m of 5.03% Cg
  • Hole SL-12-004: 25.1m of 3.21% Cg, including 15.2m of 4.46% Cg

Discussion:

The results of the 2012 drill campaign confirmed the presence of significant flake graphite at the Simon Lake Property. During the 4th quarter of 2012, this will be confirmed by mineralogical and metallurgical testwork of representative drill-core material to quantify the flake size distribution of graphite.

The graphitic horizon was tested at a depth where measurements of continuity and thicknesses could be interpreted. The graphitic horizons are interpreted to continue to near surface by geophysical modeling, structural measurements and historic mapping of outcrops.

The graphitic horizon at the northern end of the property, intersected by holes SL-12-001 and SL-12-002, is interpreted to dip at an angle of approximately 40 to 50 degrees, and is interpreted to continue close to surface.

The graphitic horizon within the southern parts of the project area, appears folded, and where tested, displays a consistent thickness and grade; and is near flat-lying with an apparent dip of approximately 9-degrees. At this location, the graphitic horizon was intersected at a depth of approximately 110 metres from the surface, and is interpreted to continue close to surface to the north.

The zinc-lead mineralization found in hole SL-12-001 is an example of the 1970’s and 1980’s targeted exploration for Sedex-style deposits. The high-grade zinc mineralization, although narrow, is significantly higher than many of the showings in the Wollaston Domain, and is therefore thought to be significant.

Results:

Results of graphitic intervals have been compiled into the following table:

From
(m)		 To
(m)		 Interval
(m)		 C-graph
(%)		 Zn
(%)		 Pb
(%)
SL-12-001 45.7 69.5 23.8 2.17
including 45.7 51.8 6.1 4.58
and 93.5 102.2 8.6 1.92
including 93.5 95.3 1.8 4.93
and 204.6 206.3 1.7 5.49 0.66
and 224.7 226.0 1.2 8.66 0.22
SL-12-002 74.7 106.4 31.7 3.08
including 74.7 91.0 16.3 3.78
including 85.0 89.0 4.0 5.08
and 127.0 220.8 93.8 2.11
including 188.1 220.8 32.8 3.30
including 203.0 211.0 8.0 4.74
SL-12-003 181.9 207.3 25.3 3.00
including 181.9 197.0 15.1 4.29
including 184.8 196.0 11.2 5.03
SL-12-004 120.2 145.3 25.1 3.21
including 120.2 135.3 15.2 4.46

Drill hole SL-12-001 verified the intervals of graphite within historic hole E42-5, which encountered a graphitic biotite gneiss, with core descriptions of “disseminated graphite” or “coarse graphite flakes”, with narrower intervals described as “graphite flakes abundant” and “heavy graphite in 6 to 12 inch bands”. Hole SL-12-001 was drilled with an azimuth of 141° and a dip of -45°. The hole was drilled to a depth of 241m to fully test the geology of the conductor within this area. Near the end of the hole, two sphalerite-bearing horizons were encountered, one from 204.6m to 206.3m (1.7m interval) encountered an average of 5.49% zinc and 0.66% lead. A second horizon from 224.7m to 226.0m (1.2m interval) averaged 8.66% zinc and 0.22% lead. The aforementioned intersections encountered only trace to 5g/t levels of silver and below detection limits for gold.

Drill hole SL-12-002, collared approximately 5.5 kilometres northeast of SL-12-001, verified the historic intervals of graphite within historic drill hole 2-72, which encountered a graphitic biotite gneiss with descriptions of “abundant graphite” over a 68 m interval. Hole SL-12-002 was drilled with an azimuth of 153° and a dip of -45°.

Drill holes SL-12-003 and SL-12-004 were collared approximately 8 kilometres southwest of SL-12-001, and targeted the strong EM anomaly discovered in the winter 2012 airborne survey. The holes, located only 382 metres apart, were drilled with an azimuth of 345° and a dip of -70°. The rational of hole SL-12-004 was to test the graphitic horizon at a potentially shallower depth, and succeeded in locating the horizon approximately 50 metres closer to surface.

Future Plans:

Drill-core from the 2012 program will be sent for preliminary metallurgical testing which will determine the flake size distribution and recoveries.

The Satterly Lake gold property is drill ready and it is anticipated that this drilling will take place 4th quarter 2012. Satterly lake is a two block property package comprising a total of 1,600 hectares located in close proximity to the south and west of Gold Canyon Resources’ Springpole Gold Project where consistently good exploration results have been demonstrated.

Future exploration will test the Simon Lake graphite trend along strike, as only a small portion of the 25 kilometer long conductive trend has been tested by drilling.. The metallurgical testing will act as an additional guide to target those graphitic zones, with favorable flake-size distribution.

The Simon Lake Graphite Project covers 11,800 hectares, and is located approximately 300 km northeast of La Ronge, Saskatchewan and is intersected by Highway 905. The property consists of several showings of flake graphite mineralization in historic drill holes, which were discovered during the exploration of base metals during the 1960’s and 1970’s.

Neil G. McCallum, P.Geo., is a Qualified Person pursuant to NI 43-101, and has reviewed and approved the technical disclosure of this news release.

Notes:

  • Drill hole intervals reported herein are not true widths, which cannot be determined due to uncertain geometry of mineralization at this time.
  • Drill hole intervals are weight-averaged based on the sample width. No internal cut-off grades were used in the reported intervals.
  • Actlabs of Ancaster, Ontario was utilized during routine analysis.
  • Graphitic Carbon is reported by LECO whereby the pulp is either digested with hydrochloric and perchloric acids, or subjected to a multistage furnace treatment to remove all forms of carbon with the exception of graphitic carbon.
  • Silver and gold are reported as gravimetric fire-assay; zinc and lead are reported as 4-acid ICP assay.
  • A quality assurance, quality control (QA/QC) program was employed by utilizing, blanks and duplicates as per industry best standards.

About the Company:

Strike Graphite Corp. is a progressive exploration company with seasoned management targeting strategic assets on a global scale. In addition to the Deep Bay East and Simon Lake graphite properties, the Company is also active advancing its Wagon Graphite property in Quebec next to the Timcal Graphite mine. The company is also advancing the Satterly Lake gold project in NW, Ontario, located just west of Gold Canyon Resources Inc.

On behalf of the Board of Directors,

Blair Way, C.E.O.

For more information on the above or to view the Company’s Corporate Presentation on its Graphite assets and opportunity, please visit the Company’s website at www.strikegraphite.com.

We seek safe harbor.

Contact Information

Tags: , , , ,
Posted in Graphite | Comments Off on Strike Graphite Intersects Significant Flake Graphite During 2012 Drill Campaign

Focus Graphite Inc. Appoints Dr. Joseph E. Doninger Director of Manufacturing and Technology

Posted by AGORACOM-JC at 3:43 PM on Monday, October 1st, 2012

OTTAWA, ONTARIO–(Oct. 1, 2012) – Focus Graphite Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) the “Company,” is pleased to announce the appointment of Dr. Joseph E. Doninger as Director of Manufacturing and Technology. The appointment is effective Oct. 1, 2012.

Dr. Doninger is the developer and co-developer of a number of U.S., European and Canadian patents and patent applications related to carbon processing methodologies and processing equipment.

Also, a chemical engineer, Dr. Doninger is the author and co-author of some two dozen technical papers and studies related to graphite composite anodes; carbon-based materials for electrochemical energy storage systems; advanced graphite for Li-Ion batteries and other related publications.

“Dr. Doninger’s international credentials and experience dovetail with Focus Graphite’s mine-to-market-technology business objectives. His broad responsibilities include leading our team in meeting those objectives at our future mine site and at our planned processing facilities in Varennes, Quebec,” said company President and CEO, Gary Economo.

“We are extremely pleased to have secured Dr. Doninger’s participation as a key member of our management team,” Mr. Economo said.

“Dr. Doninger is not only an industry innovator, he is an industry insider with an established and successful senior management background with Chicago-based Superior Graphite among other internationally recognized graphite technology companies,” Mr. Economo added.

Dr. Doninger’s academic background includes an Honorary Professorship at the Department of Chemistry, Kiev National University of Design and Technology; a Doctorate of Philosophy in Chemical Engineering and Master of Science, Chemical Engineering, Northwestern University, and; a Bachelor of Science Degree in Chemical Engineering, University of Illinois.

As a consulting engineer, Dr. Doninger served as President of Dontech Global, Inc. During his 17-year career with Superior Graphite Co., he held the posts of Senior Vice President, Engineering and Product Commercialization, Vice President, Manufacturing, and Vice President, Technology.

His corporate background also includes that of Vice President, Sales and Marketing, Minerals Group, Applied Industrial Materials Corp, of Deerfield, IL; and, General Sales and Marketing Manager, International Minerals and Chemical Corp., of Libertyville, IL.

About Focus Graphite

Focus Graphite Inc. is an emerging mid-tier junior mining development company, a technology solutions supplier and a business innovator. It is the owner of the NI 43-101 compliant Lac Knife graphite deposit grading 16% carbon as graphite. The company’s goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus Graphite is invested in the development of graphene applications and patents through Grafoid Inc.

Forward Looking Statements – Disclaimer

This news release may contain forward looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company’s expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com Focus Graphite disclaims any intention or obligation to revise or update such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

 

Focus Graphite Inc.
Mr. Gary Economo
President and Chief Executive Officer
613-691-1091, ext. 101
[email protected]
www.focusgraphite.com

Tags: , , , ,
Posted in Graphite | Comments Off on Focus Graphite Inc. Appoints Dr. Joseph E. Doninger Director of Manufacturing and Technology

Northern Graphite Commences Drill Program at Bissett Creek

Posted by AGORACOM-JC at 10:11 AM on Monday, October 1st, 2012

OTTAWA, ONTARIO–(Oct. 1, 2012) – Northern Graphite Corporation (TSX VENTURE:NGC)(OTCQX:NGPHF) announces that it has commenced a drill program on its Bissett Creek graphite project consisting of approximately 3,000 meters of drilling in 65 holes. The drill program is designed to follow up on opportunities identified in the recently completed bankable feasibility study (“FS”) to further improve the already attractive economics of the Bissett Creek project.

The main objective of the drill program is to upgrade inferred resources both within and outside the FS pit shell to the indicated category. The FS considers approximately 1.5 million tonnes of inferred resources within the pit as waste and includes the processing of a low grade stockpile that exceeds 2.5 million tonnes. Upgrading the inferred resources within the pit to the indicated category, and substituting higher grade material from outside of the FS pit for the low grade stockpile, could result in an increase in grade and a further reduction in operating costs. Of particular interest are the higher grade inferred resources located off the eastern end of the FS pit (see figure 1: http://media3.marketwire.com/docs/FIGURE-1.jpg). The Preliminary Economic Assessment on the Bissett Creek project states that there is a relatively high probability that inferred resources can be upgraded due to the thick, flat lying and continuous nature of the mineralization. However, the inferred resources do yet not have demonstrated economic viability and are not mineral reserves.

The Company has retained AGP Mining Consultants Inc. (“AGP”) to update the current resource and reserve estimates, mine design and economic model once the new drilling results are available which is expected to be before year end. In addition, AGP will review assay methodologies and procedures to investigate the fact that graphite production, based on calculated head assays from the locked cycle test program, was up to 12% higher than expected based on the initial assay grade of the samples.

Gregory Bowes, CEO, stated that “The FS is based on 23 years of indicated resources but this does not represent the best 23 years. We have an additional 50+ years of inferred resources at planned production rates. The drill program will enable us to optimize the first 20 years and demonstrate that the project has very solid economics even in a low graphite price environment. Operating costs over the first five years of operation were estimated at $851/tonne of concentrate in the FS which assumed contract mining. Owner mining is expected to reduce them to approximately $800/tonne with further decreases possible based on the results of the drill program and assay review.”

The Graphite Market

Graphite demand and prices have increased substantially over the past few years due to the ongoing modernization of China and other emerging economies which has resulted in strong demand from traditional steel and automotive markets. In addition, new applications such as lithium ion batteries, vanadium redox batteries, fuel cells and nuclear power have the potential to create significant incremental demand growth.

China currently produces 70% of the world’s graphite and an export tax and a licensing system have been instituted to restrict exports and encourage value added processing in China. Recently, the Chinese government proposed a new set of rules and standards for graphite mines which will make them much more difficult to operate and build. The recent proposals on new mines are the third major graphite supply related announcement out of China this year and follow calls for REE type protection from the largest Chinese graphite producer and the formation of a state owned amorphous graphite monopoly. Due to the expectation that Chinese graphite production and exports could decline at a time when demand is appears ready to grow rapidly, both the European Union and the United States have declared graphite a supply critical mineral.

Northern Graphite Corporation

Northern Graphite Corporation is a Canadian company that has a 100% interest in the Bissett Creek graphite deposit located in eastern Ontario. The completion of the bankable Feasibility Study has established Northern as the industry leader with a large flake, high purity, scalable deposit that is located close to infrastructure and has very competitive operating costs. Additional information is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.northerngraphite.com.

This press release has been reviewed and approved by Don Baxter, P.Eng, President of the Company and a non-independent “Qualified Person” under NI 43-101.

This press release contains forward-looking statements, which can be identified by the use of statements that include words such as “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “likely”, “will” or other similar words or phrases. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. The Company does not intend, and does not assume any obligation, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

 

Northern Graphite Corporation
Gregory Bowes
CEO
(613) 241-9959

Northern Graphite Corporation
Don Baxter P.Eng
President
(705) 789-9706
www.northerngraphite.com

Tags: , , , ,
Posted in Graphite | Comments Off on Northern Graphite Commences Drill Program at Bissett Creek

Berkwood Commences 2012 Fieldwork at Lac Gueret East Graphite Property in Quebec

Posted by AGORACOM-JC at 9:58 AM on Friday, September 28th, 2012

VANCOUVER, British Columbia, Sept. 27, 2012 – Berkwood Resources Ltd. (TSX-V: BKR; OTC-PINK: CZSVF) ( “Berkwood”) is pleased to announce that it has commenced field work on its Lac Gueret East Graphite Property, located approximately 290 km north of Baie-Comeau, Quebec.

The objective of the Phase 1 work program is to delineate prospective Graphite zones, beginning with an airborne electromagnetic survey, surface work follow up, and compilation of historic geological data. The work program will be performed by EarthMetrix of Mont-Laurier, QC.

The company intends to follow Phase 1 with a Phase 2 work program, consisting of stripping, trenching and sampling. The objective of Phases 1 and 2 is to generate targets for drill testing in a potential Phase 3 work program, as timing and funds permit. The results from the Phase 1 program will be released when received by the company.

This news release has been reviewed and approved by Alain Moreau, P. Geo., who supervised the preparation of the technical information in this news release. Alain Moreau is a Qualified Person as defined by National Instrument 43-101.

Lac Gueret East Graphite Property:

The Lac Gueret East Graphite Property (the “Property”) consists of 59 claims totalling 3186 Ha and borders the eastern boundary of Mason Graphite’s advanced Lac Gueret Property. A technical report by Tekhne Research on Mason Graphite’s Lac Gueret Property estimated a resource of 7.5 million tonnes grading 20.4% Graphite.

The Lac Gueret East Graphite Property has similar geological characteristics as that observed at Mason Graphite’s Lac Gueret Property located adjacent and to the west of the Lac Gueret East Graphite Property. The Lac Gueret East Property is situated in the Paleoproterozoic Gagnon Terrain which is considered a para-autochton unit fertile for graphite in the Grenville Province of Quebec and includes biotite/garnet/sillimanite/graphite paragneisses, dolomitic marbles and intrusive rocks. Graphite in the area is present in marbles and in contact with or within paragneisses and ranges from 3% to 40% Cg (Carbon Graphite) exhibiting flakes up to 5 mm in diameter. Large flake graphite is generally considered from 0.2 mm or more in size. The Lac Gueret East Graphite Property is within three hours of Baie-Comeau by road and is easily accessible via numerous tertiary and forest roads.  Property maps and details are available on the Berkwood website, please click here.

Investors are cautioned that the graphite mineralization in the adjacent property is not an indication that similar mineralization will be found in the Lac Gueret East Graphite Property, which is still in an early stage of exploration.

About Berkwood Resources:

Berkwood holds a 100% interest in the Prospect Valley Gold Property near Merritt, BC.  To date, several areas of gold mineralization have been identified on the 10,871 Ha property.  The majority of historic drilling has taken place in the centre of the claim block along the Discovery Trend.  To date this drilling has outlined an extensive low grade epithermal gold system with indications of potential for additional and higher grade mineralization (see Berkwood news release dated January 25, 2012 for details). The zones remain open for expansion and other known zones of gold mineralization have yet to be drilled.

If you are not currently on the Berkwood Resources news and updates list, you can opt-in via the Berkwood website by clicking here. News Releases and exploration updates are emailed to list members who wish to keep up to date with Berkwood Resources and our projects.

On Behalf of Berkwood Resources

“Brian Buchanan”

Brian Buchanan, President and Director

For additional information please contact:

Karim Sayani, Corporate Communications
Tel: (604) 662-7455 E-mail: [email protected]

Tom Steer, Media Relations Manager
Tel: (604) 681-5556 E-mail: [email protected]

Forward Looking Statements
This Berkwood News Release may contain certain “forward-looking” statements and information relating to Berkwood that are based on the beliefs of Berkwood’s management as well as assumptions made by and information currently available to Berkwood’s management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitation, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. Except as required by law, Berkwood does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Berkwood Resources Ltd.

Tags: , , , ,
Posted in Graphite | Comments Off on Berkwood Commences 2012 Fieldwork at Lac Gueret East Graphite Property in Quebec

« Older Entries
Newer Entries »