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Focus Graphite Initiates Legal Recourse

Posted by AGORACOM-JC at 2:09 PM on Wednesday, November 28th, 2012

OTTAWA, ONTARIO–(Nov. 28, 2012) – Focus Graphite Inc. (“Focus” or the “Company”) (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) announces it is exercising a legal recourse against certain parties with respect to a transaction with the Company for the Labrador Trough group of properties. Focus has taken steps so as to protect its rights and claim damages, and initiated required action pursuant to applicable contracts, regarding such matters.

Focus endeavours to keep its shareholders informed of any developments regarding this matter on a timely basis.

About Focus Graphite

Focus Graphite Inc. is an emerging mid-tier junior mining development company, a technology solutions supplier and a business innovator. Focus is the owner of the Lac Knife graphite deposit located in the Côte-Nord region of northeastern Québec. The Lac Knife project hosts a NI 43-101 compliant Measured and Indicated mineral resource of 4.972 Mt grading 15.7% carbon as crystalline graphite with an additional Inferred mineral resource of 3.000 Mt grading 15.6% crystalline graphite. Focus’ goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. On October 29th, 2012 the Company released the results of a Preliminary Economic Analysis (“PEA”) of the Lac Knife project which demonstrates that the project has robust economics and excellent potential to become a profitable producer of graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus Graphite is also 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

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Lomiko Metals: MAJOR Graphite Discovery at Quatre Milles *Client*

Posted by AGORACOM-JC at 12:36 PM on Tuesday, November 27th, 2012

Lomiko Metals: MAJOR Graphite Discovery at Quatre Milles

Lomiko Metals LMR-V $0.045
Shares Outstanding… 66.4M
Warrants… 10.8M @ $0.148
Options… 4.9M
Fully Diluted… 82.2M

Market Cap… $2.99 million
Cash… ~$300k

Discovers large zones of graphite similar to Bisset Creek

The results of Lomiko’s phase 1 drill program at Quatre Milles are in.  In spite a share price that speaks to the contrary, everything initially believed about The Quatre Milles Graphite Project has been confirmed…AND THEN SOME.

Lomiko confirmed several near surface high grade zones on the property initially discovered by Graphicor in 1990.  This is a high value combination of high grade and mineralization starting right at surface, it certainly confirmed everything we thought about Quatre Milles, that it had the potential to host a small to medium sized graphite operation and high grade deposit of around 5Mt-10Mt.  Comparable at the upper end of that range would have been a project such as Flinders Resource’s Kringel, a 500tpd to 700tpd 8% mine slated for production by 2013/2014 at a rate of about 7,000 tonnes of graphite per year.

What came as a big surprise to most… in addition to the extensive high grade graphite zones found at surface extending over an impressive 1,100 meter strike length… Lomiko discovered that each hole contained broad zones of disseminated (Bisset Creek) style mineralization.  

This is something that was completely unexpected and has materially changed the game for Lomiko and The Quatre Milles Graphite Project.  QM will now be evaluated as a mining project with 5 to 10 times the scale of the original mine plan.   The scope of Quatre Milles has gone from a 5Mt – 10Mt (6% to 8%) project to a 50Mt – 100Mt (2% to 3%) graphite project similar in tonnage and scale to Bisset Creek.   What I don’t understand is why Lomiko, valued at a $3M market cap can still be trading at $0.045 with better results on the first 23 holes at Quatre Milles than Northern Graphite’s 2010 drill program at Bisset Creek.  Yes, I said so far, better results than Bisset Creek.

We are not talking about just beating Bisset Creek’s results.  We are talking about results that compare close to a factor of 2 to the Bisset Creek 2010 drill program.  A 20% increase in average grade, zones that are almost double the size at Bisset Creek, and mineralization that starts right at surface. 

For all you naysayers out there… Paul Gill stepped up to the plate and delivered when many packed it in and refused to even drill another hole after financing dried up this summer for every exploration company.  Lomiko forged on with their program and delivered impressive results.  The price Lomiko is trading at after phase 1 results is just downright silly. Lomiko’s peers are trading between $30M to $50M market caps while LMR-V trades at $3M. 

 

From 500tpd to 2,500tpd to maybe even 5,000tpd

What was initially envisioned as a high grade 500tpd to 700tpd open pit mine running 6% to 7% head grade through the mill has suddenly expanded in scope and scale to a 2,500tpd project virtually identical to Northern Graphite’s Bisset Creek in almost every way.  Not only did they confirm Graphicor’s discovery, but Lomiko discovered wide zones of mineralization nearly identical to Bisset Creek.  So Quatre Milles has a good ‘ol Canadian Double Double with tonnage and the high grade component to the story.  Everything just got that much bigger and that much better with a world class deposit that has the ability to be scaled up to a 5,000tpd mining operation.   Quatre Milles could host an additional 50Mt to 100Mt of this mineralization in addition to the high grade.  The mine plan at Quatre Milles went from 500tpd @ 6% for 10 to 20 years to 2,500tpd at 2.5% for 25 to 50 years and still oodles of ore left over for future expansion if needed.  

 

Typical Graphite Operation 500tpd @ 6%
15 year mine		 2,500tpd @3%
25 year mine		 5,000tpd 2.4%
40 year mine
Cost Assumptions $40/t op costs
$60M capex		 $20/t op costs
$100M capex		 $15/t op cost
$200M capex
Annual Graphite Production 10,000 tonnes 25,000 tonnes 40,000 tonnes
Annual Cash Flow @
$1,500 / $2,100 / $2,500		 $8M  / $14M / $18M $20M / $35M / $45M $34M / $58M / $74M
NPV @ $1,500 / 8% $8M $104M $200M
NPV@  $2,100 / 8% $55M $252M $475M
NPV @ $2,500 / 8% $87M $350M $625M

From 5Mt-10MT to 50Mt to 100Mt

 

Quatre Milles does not have enough holes to establish a resource yet because the information from Graphicor’s drill program cannot be used.  Lomiko cannot locate the old drill cores and must be drilled again.  But loaded with this new information about the broad zones of graphite, it is clear that Graphicor only analyzed the high grade zones visually estimated above 4% or 5%.  In the map below I have outlined a Central Pit Location which would overlay perfectly onto the proposed Bisset Creek Mine Plan.  If you infer Lomiko’s early results across the rest of the property, Quatre Milles starts to become a very impressive graphite deposit with tonnage nearly identical to Bisset Creek.  Maybe even more.

 

Quatre Milles… A Bisset Creek Clone, but better

As much as Quatre Milles grew in significance with the scope and scale of the operation, no matter how you cut up LMR’s 2012 results… when you compare them to NGC’s 50 hole drill program at Bisset Creek, the Quatre Milles results compare better on every level.   The zones are wider, the overall grade is higher and it is a lot closer to surface than Bisset Creek.  In mining… those are the three biggest factors that affect a project’s mining costs.  In comparison to Bisset Creek, Quatre Milles wins out on every level.  The one thing that still is a mystery is metallurgy, but with pretty much everything else being identical, I doubt metallurgy results will be much different.  How is that for an unexpected turn of events?  Tiny little Lomiko’s project has the potential to make a lot more money than Bisset Creek.

It’s got the big 3 mining variables on its side… 

QM is higher grade

QM is closer to surface

QM mineralized zones are wider

 

QUATRE MILLES IS HIGHER GRADE.

Lomiko has confirmed several at surface high grade zones of graphite which will translate into higher than average returns for a disseminated graphite deposit like Kearney, Eagle or Bisset Creek.   Quatre Milles is indicating the highest grades of any of this style of deposit in Canada.  Northern Graphite’s Bisset Creak lacks any high grade mineralization over 3%, let alone that grade over 10% C that start at surface.  Lack of high grade will translate into lack of a flexible mine plan being able to blend grades when prices are high or source from high grade zones when prices are low.  When you blend Lomiko’s high grade with the low grade you end up with a project that still has the scope of a large 2,500tpd operation like Bisset Creek, but also the potential to mine grades averaging over 3%.  In the early years when it really counts, the difference between 2% and 3% in a cash flow statement is enormous.  Cash flows are not discounted as much, the project gets paid back faster which makes financing the project that much more flexible and the project has the ability to survive sudden prices fluctuations such as the recent drop in graphite prices.

 Variable 2% MINE 3% MINE
Mining Rate 2,500tpd 2,500tpd
Capital Cost $102M $102M
LOM 20 years 20 years
Risk Rate 8% 8%
Graphite Price $2,100 $2,100
Cash Flow $19M $36M
NPV $77M $235M

QM is CLOSER TO SURFACE.  NO OVERBURDEN.  NO STRIP.

Of all the graphite discoveries, Quatre Milles is the closest to surface.   The central part of the deposit is nearly identical to the Bisset Creek mine plan overly in the feasibility study.  When you take into account Bisset Creek is one of the lowest cost producers on a cost per tonne of ore mined with an extremely low strip ratio, Quatre Milles has Bisset Creek beaten in those factors and promises to be just as low cost.  If not even lower.  If you exclude 4 holes to the north where the ore body dips which is outside the scope of a pit design, the project averages less than 4 meters to surface.   Bisset Creek’s average depth is more than 17 meters from an analysis of the 2010 drill program.
THE MINERALIZED ZONES ARE WIDER.

As much as Bisset Creek promises to be a low cost mining operation with $18.34/t all in, Quatre Milles should easily beat this number considering the strip ratio on an open pit mine at Quatre Milles would be near zero.  It will also have a lower strip throughout the life of the project because the zones are also almost twice the size.  Not only is there less rock to move above the deposit at QM… THERE IS MORE MATERIAL per area when they are mining.  Throughout the life of a mine at Quatre Milles… the strip will be close to zero and most stripping will be to stockpile lower grade ore in favor of high grade material.  Mining costs at Bisset Creek are a third the overall $18 cost per tonne. Considering a third of the Northern Graphite’s open pit mine is waste, Quatre Milles promises to beat even this extremely low strip ratio.

Mining Analysis (BC2010 vs QM 2012) Bisset Creek – Pit Shell Quatre Milles – Central Pit location
Area 750m * 500m 500m * 500m
Holes 51 15
Average Depth 17.42 meters 2.78 meters
Average mining width (individual horizons) 16.4 meters 29.55 meters
Average aggregate width (stacked zones) 25.1 meters 47.28 meters
Average Rating Per Zone 33 71
Average Rating Per Hole 50 114
Average Grade of Drill Programs 2.00% 2.42%
Probable Mine Reserves 18.8Mt @ 1.89% N/A
In Pit Shell Measured and Indicated – No cut-off 22.1Mt @ 1.78% N/A
My rough estimate based on drill programs 24.5Mt @ 2.00% 30.7Mt @ 2.42%

 

 

Quatre Milles: EVERYTHING Bisset Creek HAS… AND THEN SOME

Obviously Bisset Creek is a lot further advanced than Lomiko’s Quatre Milles having a feasibility study released this summer.  No one is debating that. Lomiko is still waiting for initial met results for Quatre Milles.  But when you look at what is shaping up under the drill bit at Quatre Milles, it is easy to see EXTREME VALUE in a company that is trading at a tenth the price of Northern Graphite.  Given the discovery at Quatre Milles and the proximity of the mineralization to surface, it is easy to see this project being fast tracked to production b/c of the minimal mining costs, the extensive near surface high grade mineralization and its proximity to the North American auto hub and other strategic graphite suppliers like Asbury or Timcal.  Quatre Milles is an easy deposit to put in production with high grade zones that will maximize mining returns.
Near surface high grade to maximize returns…? WOW!

What makes Quatre Milles an exciting opportunity is the fact that there is a significant near surface high grade zone.  The numbers look great when you imagine a 25 year mine averaging close to 2.5% between $2,000 and $3,000 graphite, but when you can mine a grades ranging from 4% to 10% in the early years of the mine, it means your costs are going to be very low and your output is going to be very high. In the end, the NPV increases substantially because there is more revenue in the early years. It also makes your lenders very happy too when the payback of your project promises actually pay back and is less than 1/2 the time it will take payback the same amount of capital invested in Bisset Creek.  While Bisset Creek is mining 2.22% the first 5 years, Quatre Milles may see a head grade between 4% and 6%.  The difference in cash flows between 2% and 6% is huge, an $18M to $88M spread.

So what do you want? 

Roughly $250M to $400M in cash flow for the first 5 years at Quatre Milles…

OR

Less than a $100M in cash flow from Bisset Creek

This is not rocket science people

 

NEAR SURFACE HIGH GRADE, YOU CAN’T ASK FOR ANYTHING MORE
If Quatre Milles went into production the same time as Bisset Creek producing 95%C large flake with prices at the current $1,500.  Who is laughing?  Lomiko mining Quatre Milles at grades between 4% to 10%; or Northern Graphite, who is squeaking by at just over a 2% grade over the first 5 years?

What would you rather have?  

1.     A 60Mt deposit at 2% and no high grade  OR

2.      A 50Mt deposit at 2.5% AND a 5Mt -10Mt zone grading 6% – 7%?

It certainly gives the operator of the mine a lot more mining options at different graphite prices than Bisset Creek has.  Quatre Milles could survive a price drop to $1000 per tonne where Bisset Creek could not afford a price drop of that magnitude.

Lomiko’s shallow high grade results include…

  • 8.68m @ 6.18% starting at 4.5 meters
  • 4.13m @ 7.28% starting at 9.25 meters
  • 5.4m @ 4.53% starting at 5.0 meters
  • 2.9m @ 9.87% starting at 2.0 meters
  • 4.77m @ 10.8% starting at 1.35 meters
  • 9.9m @ 8.81% starting at 11.95 meters
  • 13.3m @ 5.15% starting at 6.9 meters

Lomiko’s shallow high grade results extend the shallow high grade zone originally discovered by Graphicor in 1990 in the Central Pit Zone to the SE by a 100 meter width and along a strike length of 500 meters.   Within the Central Pit Zone most of Graphicor’s results came from the NW section of the Central Pit Zone which remains untested by Lomiko.
Graphicor’s near surface high grade results with the Central Pit Zone include…

  •  28.6m @ 8.07% starting at 3.94 meters
  • 3.44m @ 8.79% between 1.54 and 8.05 meters (two horizons)
  • 2.09m @ 9.66% between 2.05 and 6.8 meters
  • 4.7m @ 3.95% starting at 9.4 meters
  • 7.75m @ 9.17% between 2.14 and 15.46 meters (5 horizons)
  • 7.59m @ 8.6% starting at 0.94 meters
  • 9.59m @ 4.64% starting at 0.69 meters
  • 3.38m @ 9.76% starting at 2.21 meters

The average width of all the shallow results is 7.75 meters.  This number is skewed a bit as Graphicor’s results only picked the highest grade parts of the core.  I expect the zone to broader when Lomiko drills over that section albeit, the grade a bit lower.  Between the 2 drill programs, 70% of the drill holes hit near surface high grade graphitic zones.   It certainly gives credence to the target of at least 3Mt-5Mt high grading material between 6% and 8% that averages less than 5 meters from surface.  

 

A Wheel Barrow, a Bucket and a Shovel

All you need to mine high grade graphite at Quatre Milles is a wheel barrow, a bucket and a shovel.  As ridiculous as this may sound, it is true.  Average mineralization is 2.78 meter depth and there is extensive high grade at surface.  I cannot stress enough how valuable high grade right at surface is.  One of the biggest advantages about a mine at Quatre Milles is that fact that ore being run for through the mill for the first few years will average at least 4%.  A wheel barrow, a bucket and a shovel gets you mining graphite at Quatre Milles.  LMR is a $3M market cap company?  More like $30M in my books.  No matter where graphite prices run to over the next little while, there is such a pricing discrepancy between LMR and the rest of its peer group…there is no other EXTREME VALUE BUY ON THE MARKET.  Not mismatched in price like Lomiko is.

A series of holes approximately 100 meters wide and along a strike length of 500 meters consistently tested near surface high grade zones.  Only one hole out of the 12 did not hit a high grade zone, and that hole, QM-12-04 graded 2.17%Cg over 70.0 meters.  This zone is extensive.

There were tons of these mismatched priced value type of investment opportunities in the GOLD SECTOR LAST APRIL/MAY.  Calvista Gold who recently agreed to a takeover bid by AUX at $1.10 WAS TRADING UNDER $0.20…  THOSE TRADES ARE LONG GONE. EVEN THE CREAM OF THE CROP COPPER STOCKS HAVE BOUNCED OFF THE BOTTOM.  RIGHT NOW, THE EXTREME VALUE HIGH LEVERAGE OPPORTUNITY IS RIGHT HERE WITH LOMIKO.

 

Wait…!!! That is not the end of the high grade

There is a second high grade zone that you can infer similar tonnage and grade which averages a 40 meter depth.   The grade is not quite as high as the near surface zone but will still average close to 6% and make up another 3Mt to 6Mt zone over the entire property.   Let me put Quatre Milles in perspective, while Zenyatta is still digging through overburden at 40 meter depth, Lomiko is already into their second high grade zone.  Most of these intersections are closer to surface than Mason Graphite’s shallowest hole and Lac Gueret’s rich zones begin at over a 100 meter depth.

The deeper high grade intersections include …

  • 19.52m @ 6.23% starting at 31.48 meters
  • 6.53m @ 6.57% starting at 31.2 meters
  • 2.6m @ 6.69% starting at 44.2 meters
  • 6.0m @ 5.84% starting at 33.5 meters
  • 11.9m @ 6.31% starting at 31.2 meters
  • 3.35m @ 8.0% starting at 37.5 meters
  • 5.3m @ 4.53% starting at 38.0 meters
  • 7.54m @ 6.72% starting at 57.82 meters
  • 5.46m @ 8.02% starting at 64.67 meters

 

THE CHEAPEST GRAPHITE STOCK WITH CONFIRMED MINING POTENTIAL

Graphite prices may be in the dumpster recently with prices for large flake falling off a cliff this fall having tanked in the last 6 weeks to $1,400 (94%) – $1,800 (97%) for large flake.  This after a dreadful summer sent graphite stocks into free fall with fears that prices are going back down to $1000 per tonne.  It has graphite investors running for the hills, but you know the saying… ‘when the blood is in the streets… that is when you want to be buying.’  Nothing about the graphite story has changed.  In fact it has gotten better.  Tesla’s Model S was recently named ‘Car of the Year’ and Tesla unveiled new super quick  charging technology that will make consumers feel they won’t be left out in the cold stranded for hours waiting for the cars to charge up.

In addition, discoveries such as Mason Graphite’s 20% Lac Gueret, Standard Graphite’s Mousseau and Zenyatta’s Albany deposit have all put the pressure on the companies that lead the charge out of the gate like Northern Graphite and Focus Metals.   None of that should matter to Lomiko though, the company is so cheap and the phase one results so promising… RISK/REWARD heavily favors someone with money identifying Quatre Milles promise.  The game has changed so much for this $3M market cap company that there is no other company on the exchange that is as undervalued as Lomiko currently is.

Certainly not in the graphite sector!!!

The game has changed.  No one has figured it out.  The potential of Lomiko has grown from maybe a $100M market cap mine into a half a billion market cap mine.  The discovery of wide zones of mineralization similar to Bisset Creek in addition to the near surface high grade has increased the potential of Quatre Milles by at least a factor of 5.

Given the scale and scope of this discovery at Quatre Milles, Lomiko should be named in the same breath as the companies like Northern Graphite, Focus Metals, Zenyatta, Energizer Resources, Flinders and Mason Graphite. The deposit and results should speak for themselves.  Lomiko has the grade for high returns in the early years plus they clearly have demonstrated significant tonnage with long intervals of disseminated graphite across the entire property. Best of all, there is no other project in Canada with results like Lomiko’s that start right at surface.  The Quatre Milles deposit is flat lying, at surface with a gentle dip which is the ideal situation for low cost mining just like Northern Graphite’s Bisset Creek.  When you have an ore body that is amenable to low cost open pit mining with costs virtually guaranteed to come in under $20/t of ore mined, it makes you competitive against companies with deeper but higher grading ore bodies.  These companies will have mining costs 3 to 5 times that of Quatre Milles of even Northern Graphite.  A great example is how both low grade copper porphyries and high grade VMS projects are both sought out to mine.  VMS projects typically grade up to times that over their porphyry cousins but also have tougher metallurgy, are often underground mines and lack the tonnage to be a significant producer or have the longevity.   The same principles apply in the graphite sector.  Just because a deposit has grades 10 times that of the low grade disseminated deposits does not mean it will produce ten times the profits.  For example Mason’s exceptional intercept of 88.5m grading 21% graphite at Lac Gueret starts at a 144 meter downhole depth.  QM has the best of both worlds and something that none of these other guys have…

SHALLOW HIGH GRADE GRAPHITE

Typically these differences tend to even out and why Bisset Creek back in 1989 was up for consideration as a mine.  Certainly when comparing Bisset Creek studies to Lac Knife studies and their comparable cash flow statements and mine lives, the similar pre-tax NPV’s tend to back things up.   Although what you should note when comparing the two is that Bisset Creek is a real mining study with a mine plan while Focus Graphite released a PEA.  The difference in confidence is immense.  For example while Bisset Creek does not take into account any value added process or sales from upgrading to spherical graphite and only assumes a basic mining situation, the Focus Graphite PEA includes contracting out for spherical graphite as well as prices of $10,000 a tonne for their 99.95% spherical graphite.  A price in my opinion is ludicrous for the long term.  It may hit that price in times of very high demand, but for the industry to get batteries down to a manageable cost, especially vehicles $5,000-$6,000 seems like a much more suitable price for everyone involved.  Certainly if Northern Graphite’s estimates of about $1,000 per tonne all in upgrading costs are accurate, $10,000 is way too high and everyone and their monkey would be trying to find battery grade graphite if you could upgrade it for only $1,000 per tonne.

What blows my mind is no one has caught on to the significance of Quatre Milles.  Not one.  Not when Lomiko stock is trading at $0.045.  Paul stepped up to the plate when many packed it in this summer and delivered a home run for shareholders.  When it comes to the actual deposit and how it rates versus company valuation, hands down if you want to make 200% to 1000% on your investment….

LOMIKO IS A TOP 10 PENNY STOCK CANDIDATE FOR 2013 ACROSS ALL SECTORS

So while LMR sits at $0.045 and a $3M market cap and their peers trade 10 to 20 times the value of Lomiko, it is like taking candy from a baby buying the stock at these prices.
Quatre Milles, what more do you want? 

Near surface high grade zones

Tonnage to compete with the big boys like Bisset Creek and Kearney and Eagle

Tonnage for longevity and the grade for sustainability

LOMIKO IS A TENTH THE VALUE OF NORTHERN GRAPHITE…

… AND SITTING ON WHAT SOME MIGHT SAY IS A BETTER PROJECT. 

Metallurgy results are still forth coming, but deposits in the Grenville Province are known for high purity and large flake.  Bisset Creek and Quatre Milles are in the some group of rocks and are both disseminated graphite deposits.  I doubt there will be much difference between the two.  When I initially saw the first pictures of Quatre Milles samples, my first reaction was the samples looked almost identical to the Bisset Creek samples I handled at the Gold Show last January.  I am betting that initial met results will come in at greater than 90% just like Bisset Creek and Green Giant initial results did.  The market has missed the mark on Lomiko, at a current $3M value; the high leverage investment potential is second to none in the graphite peer group.   No other graphite company trading at the current price has the potential to give you 1000% like Lomiko.

Paul Gill took a company from discovery to takeout once before, it looks like he just might do it again.  I am still here holding strong for the big ride.  Pennies can be like roll coasters and can sometimes make you sick to your stomach with the volatility, but if you buy at the right time (like now), the can make you oodles and oodles of fast cash AND BIG MONEY… WHEN YOU HIT THE GRAND SLAM.

Graphite companies with legitimate projects

Company Ticker Project Scope/Scale Best Intercept Market Cap
Focus Metals FMS-V Lac Knife 8Mt – 10Mt @ 15% – $53M
Energizer Resources EGZ-T Green Giant >100Mt @ ~6% 421.3m @ 6.12% $47M
Flinders Resources FDR-V Kringel 10Mt @ ~8% 16.3m @ 12% $44M
Mason Graphite LLG-V Lac Gueret 10Mt to 20Mt @ 20% 88.5m @ 21% $36M
Northern Graphite NGC-V Bisset Creek 100Mt @ 1.5% 38.7m @ 2.49% $33M
Zenyatta Ventures ZEN-V Asbury 40Mt @ 3%-5% to 200m depth 170m @ 6.6% $27M
Graphite One GPH-V Graphite Creek 100Mt @ 4%-5% 173m @ 5.39% $11M
Standard Graphite SGH-V Mousseau East 10Mt to 15Mt @ 8% – 10% 70m @ 2.17% $5M
Lomiko Metals LMR-V Quatre Milles 50Mt to 100Mt @ 2% – 3% 93.8m @ 2.11% $3M

 

 

Happy Trading J

 

Christopher Skidmore                                                                            Beat the Market Stock Picks

Source: http://us2.campaign-archive1.com/?u=6aec09ee2c6c558d6b5867e62&id=e59b4680b9&e=a1def3ec6f

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Focus Graphite Announces R&D Agreement Between Grafoid Inc. and Hydro-Quebec’s IREQ for Next Generation LFP-Graphene Batteries

Posted by AGORACOM-JC at 5:02 PM on Monday, November 26th, 2012

OTTAWA, ONTARIO–(Nov. 26, 2012) – Focus Graphite Inc (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) is pleased to announce that Grafoid Inc. – in which Focus Graphite holds a 40% ownership stake – has executed a three-year research and development agreement with Hydro-Québec’s Research Institute for the development of next generation rechargeable batteries using graphene with lithium iron phosphate materials.

Focus Graphite President and CEO Gary Economo, who holds the same position with Grafoid, announced the signing of the joint R&D agreement with Dr. Karim Zaghib, Director Storage and Conversion of Energy at Hydro-Québec’s research and development division, l’Institut de recherche d’Hydro-Québec (IREQ).

The 50-50 collaborative agreement sets out terms with the objective of creating patentable inventions by combining graphene, supplied by Grafoid, with Hydro-Québec’s patented lithium iron phosphate technologies.

Two key, specific commercial target markets – the rechargeable automobile battery sectors and batteries for mobile electronic devices used in smartphones, computing tablets and laptop computers – were identified in the agreement.

Hydro-Québec will study Grafoid’s graphene conductivity, electrochemical performance and its effects in electrode formulations, electrolyte and separator optimizations. Detailed characterizations of Grafoid’s supplied materials will be undertaken at IREQ’s cutting edge facilities using its advanced electron microscopy, spectrographic and other in-house technologies.

Hydro-Québec will also supply lithium iron phosphate materials and its electrochemistry know how which it acquired under license from famed American inventor Dr. John Goodenough.

Grafoid, in addition to providing graphene materials, brings knowledge acquired during its own development of functionalized graphene and its experience in proving graphene’s economic scalability.

“This agreement is noteworthy for numerous reasons,” said Mr. Economo.

“This is our first major graphene collaboration with a Quebec and a Canadian global giant in renewable energy research and development. And the source of our graphene is Focus Graphite’s Lac Knife, Quebec technology graphite deposit.

“Commercially, and ultimately, our technology development partnership with Hydro-Québec aims to produce high capacity, LFP-graphene batteries with ultra short charging times and longer recyclable lifetimes,” Mr. Economo said.

He said the parties chose to focus their collaboration on LFP-graphene batteries and materials because of their short-term-to-market potential.

About Focus Graphite

Focus Graphite Inc. is an emerging mid-tier junior mining development company, a technology solutions supplier and a business innovator. Focus is the owner of the Lac Knife graphite deposit located in the Côte-Nord region of northeastern Québec. The Lac Knife project hosts a NI 43-101 compliant Measured and Indicated mineral resource of 4.972 Mt grading 15.7% carbon as crystalline graphite with an additional Inferred mineral resource of 3.000 Mt grading 15.6% crystalline graphite Focus’ goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. On October 29th, 2012 the Company released the results of a Preliminary Economic Analysis (“PEA”) of the Lac Knife project which demonstrates that the project has robust economics and excellent potential to become a profitable producer of graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus Graphite is also investing in the development of graphene applications and patents through Grafoid Inc.

About Grafoid Inc.

Grafoid, Inc. is a privately held Canadian corporation investing in graphene applications and economically scalable production processes for graphene and graphene derivatives from raw, unprocessed, graphite ore. Focus Graphite Inc., (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) holds a 40% interest in Grafoid Inc.

About IREQ

Hydro-Québec’s research institute, IREQ, is a global leader in the development of advanced materials for battery manufacturing and creates leading edge processes from its state of the art facilities. IREQ holds more than 100 patent rights and has issued over 40 licenses for battery materials to some of the world’s most successful battery manufacturers and materials suppliers. Its areas of expertise include energy storage and IREQ is a lead partner with private sector companies in Québec to build EV and HEV charging stations in support of its technology developments. Its material development contributions are helping to develop safe, high-performance lithium ion batteries that can be charged more quickly and a greater number of times. IREQ promotes open innovation and partners with private firms, universities, government agencies and research centers in Québec and abroad. Its partnerships allow IREQ to develop, industrialize and market technologies resulting from those innovation projects.

About Hydro-Québec

Hydro-Québec is Canada’s largest electricity producer among the world’s largest hydroelectric power producers and a public utility that generates, transmits and distributes electricity. Its sole shareholder is the Québec government. It primarily exploits renewable generating options, in particular hydropower, and supports the development of wind energy through purchases from independent power producers. Its research institute, IREQ, conducts R&D in energy efficiency, energy storage and other energy-related fields. Hydro-Québec invests more than $100 million per year in research.

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact Information:

Focus Graphite Inc.

Mr. Gary Economo

President and CEO

613-691-1091 ext. 101

[email protected]

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Paul Gill discusses Lomiko’s Quebec flake graphite project

Posted by AGORACOM-JC at 10:21 AM on Thursday, November 22nd, 2012

By Kevin Michael Grace

Lomiko Metals Inc (V.LMR) announced November 13 assay results from the final 17 of 23 drillholes completed at its Quatre Milles East Flake Graphite Property in Quebec. Highlights include

  • 2.47% Cgr (carbon in graphite or graphitic carbon) over 42.92 metres
    (including 8.02% Cgr over 5.46 metres)
  • 6.23% Cgr over 19.52 metres
  • 2.89% Cgr over 32.53 metres
  • 2.73% Cgr over 41.3 metres
  • 2.83% Cgr over 40.45 metres
    (including 10.01% Cgr over 3.45 metres)
  • 3.43% Cgr over 38.15 metres
    (including 10.8% Cgr over 4.77 metres)
  • 3.71% Cgr over 39.8 metres
    (including 8.81% Cgr over 9.9 metres)
  • 3.71% Cgr over 43.20 metres

Quatre Milles East consists of 1,600 hectares located 175 kilometres northwest of Montreal. In May, Lomiko optioned the Quatre Milles West Property, 2,180 hectares adjacent to Quatre Milles East. In addition to these graphite properties, Lomiko owns the Vines Lake gold property in the Liard Mining District of northwest British Columbia and the Salar de Aguas Caliente Lithium Brine Property in Chile.

Lomiko President/CEO Paul Gill spoke to Kevin Michael Grace November 14.

RW: The assays you released yesterday are part of Phase 1, right?

PG: Yes. What we’ve done is release the last 17 holes of Phase 1. We released the initial results for Phase 1 in October.

RW: How many drillholes in Phase 1?

PG: Twenty-three.

RW: These are the first drillholes you’ve done there yourself, correct?

PG: Yes.

RW: How would you characterize the grades and lengths?

PG: I would characterize them as outstanding. What we expected was smaller high-grade areas and a five-million-tonne maximum deposit. We’ve taken the cap off that now, and the size of the deposit could be up to 50 million to 100 million tonnes.

RW: When I spoke to you in late September you said Phase 2 was dependent on financing, right?

PG: Yes.

RW: At that time, you said Phase 2 would be 50 holes. How many holes are you looking at now?

PG: I think we’d still do 50 holes. We’ll probably have a Phase 3 afterwards, simply because Phase 2 will get enough holes to report an initial resource, but I don’t think we’d find the end resource. What we’d be looking for in Phase 2 is to define the outer limits of the significant mineralization: anything over 1.5% and 40 metres. And the outer limits just got a lot bigger because we went from 300- to 400-metre strike length to 1.1 kilometres, and the width is about half a kilometre. It has gotten a lot bigger than we anticipated. So Phase 2 would define the outer limits, and Phase 3 would define some high-grade pockets within that deposit.
RW: Quatre Milles East is 1,600 hectares. How much of that has been explored?

PG: A very small portion. About 100 hectares.

RW: You’re going to need money for additional drilling.

PG: Yes, we will.

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RW: How much cash do you have now?

PG: Right now we have about $300,000.

RW: How long will that last at your current rate of operations?

PG: We have a very small burn rate, so we could last without any further activity for at least six months.

RW: What do you have in mind for financing?

PG: We’re looking at a number of different options. Our goal is to get the information in front of investors and financiers, and we’re doing that now. Half the battle is that investors are not sure what these results mean. We have a couple of analysts looking into the results. I think that will help better define the opportunities for investors. So we may have to wait for that to come out before hitting the market.

RW: You’re pounding the pavement as well?

PG: Absolutely, yes. We have a large contingent of German shareholders, and I spoke in Munich to 100 of them. We’ve gone to Toronto and had meetings there as well. Now that we have results, we can show investors and financiers there is a tremendous opportunity here.

RW: When are you looking at an initial resource estimate?

PG: Probably March 2013 because we don’t even know what the outside limits of this deposit are. It’s become much bigger.

RW: What is happening at Quatre Milles West?

PG: Right now, we’re not doing anything because we feel it is a carbon copy of Quatre Milles East. There’s no need to work on it actively because Quatre Milles East is such a huge property.

RW: Is there anything you’d like to add?

PG: I think we have some good comparables out there. We’ve got Northern Graphite (V.NGC) which has done a feasibility study. It’s trading at $0.70 and has a $50-million market cap. They put out a bankable feasibility study based on 2% graphite, and they’ve done all the tests. This is good example of what can be done in the market with Quatre Milles East given the right funding.

At press time, Lomiko had 66.9 million shares trading at $0.035 for a market cap of $2.3 million.

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Source: http://business.financialpost.com/2012/11/21/paul-gill-discusses-lomikos-quebec-flake-graphite-project/

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Zenyatta Acquires 100% Ownership of ‘Vein Type’ Graphite Deposit from Cliffs Natural Resources

Posted by AGORACOM-JC at 1:45 PM on Wednesday, November 21st, 2012

THUNDER BAY, ONTARIO–(Nov. 21, 2012) – Zenyatta Ventures Ltd. (“Zenyatta” or “Company”) (TSX VENTURE:ZEN) is pleased to announce that the Company has reached an agreement with Cliffs Natural Resources Exploration Canada Inc., an affiliate of Cliffs Natural Resources Inc. (NYSE:CLF)(Paris:CLF) (“Cliffs”), for the acquisition of 100% of the Albany graphite deposit.

Zenyatta has recently exercised its right and acquired an 80% interest in a claim block (4F) by having spent $10 million on exploration over the last 2 years at the Albany project. The Company has now acquired Cliffs’ remaining 20% interest (total of 100%) in the claim block referred to as 4F, which holds the Albany graphite deposit (“Block 4F Claims”). Pursuant to the terms of the transaction, Zenyatta and Cliffs agree to the following with respect to the Block 4F Claims:

  1. Zenyatta will issue to Cliffs (or its designated affiliate) a total of 1,250,000 shares as follows: (i) 500,000 shares upon signing the agreement; (ii) 250,000 shares to be issued upon completion of a pre-feasibility study; and (iii) 500,000 shares to be issued upon completion of a feasibility study; and
  2. Zenyatta will grant Cliffs a net smelter return royalty of 0.75% on the Block 4F Claims, of which 0.5% can be purchased at any time for $500,000.

Aubrey Eveleigh, President and CEO of Zenyatta, stated “This transaction is of strategic importance to our Company. We now own 100% of the Albany graphite deposit and, more importantly, have eliminated the back-in right that Cliffs held under the original agreement. This allows Zenyatta the liberty of negotiating with another party, especially an end user of graphite, at any time along the development path of our graphite deposit.”

Zenyatta is developing a rare ‘vein-type’ graphite deposit it discovered in 2011 in northeastern Ontario, Canada. It is the only and largest ‘vein type’ graphite deposit under development in the world. Recently, a first pass beneficiation test at SGS Canada Inc. (“Lakefield”) demonstrated a simple concentration and leaching process capable of producing a 97.2% C (total) graphite product from a rough concentrate. Mineralogical work shows the graphite material to be very simple and contains insignificant amounts of undesirable material. Work is on-going to target ultra-high purity levels of >99.0% C with results from a second series of tests expected soon. The Albany deposit is located 30km north of the Trans Canada Highway, power line and natural gas pipeline near the communities of Constance Lake First Nation and Hearst. A rail line is located 70km away and an all-weather road approximately 4-5km from the graphite deposit. The deposit is near surface, underneath glacial till overburden.

Prior to the sale of the Block 4F Claims, the Albany Project was subject to an option and joint venture agreement between the parties dated November 2, 2010 (the “First Amended Albany Agreement”). This agreement is fully described in the prospectus of Zenyatta dated December 15, 2010 and filed on www.sedar.com. Concurrent with the sale of the Block 4F Claims, the parties entered into an amended option agreement dated November 21, 2012 (the “Second Amended Albany Agreement”) with respect to the other claims in the Albany Project (the “Other Claims”). The primary amendment to the First Amended Albany Agreement is a variation of the earn-in expenditure obligations. The following is a summary of the provisions of the Second Amended Albany Agreement which is filed on www.sedar.com:

  • Zenyatta Second Option to Increase Ownership from 25% to 80%. Pursuant to the Second Amended Albany Agreement the Company currently has a 25% interest in the Other Claims and an option (the “Second Option”) to acquire a further 55% interest in the Other Claims. In order to exercise the Second Option, the Company must carry out and complete not less than 3,000 meters of diamond drilling on targets located on the Other Claims and sample and analyse the drill core prior to December 31, 2014, provided that if prior to December 31, 2014, Zenyatta has not completed at least 3,000 meters of such drilling and Cliffs determines that targets should be drilled on the Other Claims located outside of the agreed targets, then Zenyatta will complete such drilling as requested by Cliffs on other targets on the Other Claims and sample and analyze the drill core, all prior to December 31, 2014. In addition, Zenyatta shall pay to Cliffs $55,000 on or before July 1, 2013. Although the Company is committed to this drilling program and intends to exercise the Second Option at this time, if the Company does not exercise the Second Option, the Parties shall associate as a joint venture pursuant to the terms of the Second Amended Albany Agreement in which the Company shall have a 25% participating interest and Cliffs shall have a 75% participating interest.
  • Remaining Terms. The First Amended Albany Agreement provided for the following all of which have been adopted by the Second Amended Albany Agreement on the Other Claims: 1) Claw Back Right by exercisable by Cliffs upon exercise of Second Option. 2) Sole Funding by the Company after exercise of the Second Option by the Company in the event that Cliffs does not exercise the Claw-Back Right. 3) Claw Back Right exercisable by Cliffs upon satisfaction of Sole Funding Obligation. 4) Cliffs retains its right of first refusal and the right to nominate a director. 5) Eveleigh Geological Consulting Inc. (“EGC”) retains certain benefits regarding cash payments upon reaching milestones and 2.0% NSR royalty, 1% of which can be purchased at anytime for $1,000,000 (EGC is a geological consulting company owned by Aubrey J. Eveleigh, the President, Chief Executive Officer and a director of the Company). These benefits were negotiated in 2010 by the parties in recognition of the initiative taken by EGC in recognizing the geological concept and the compilation of data which was the basis for staking claims over two years ago when the Albany project was first established.

As noted above and for the purposes of National Instrument 62-103 early warning reporting, Cliffs Natural Resources Exploration Inc., an affiliate of Cliffs, was issued 500,000 shares of Zenyatta pursuant to the terms of a purchase agreement between the parties that governed the sale of the interest in the Block 4F Claims. In addition, Cliffs (or its designated affiliate) has the right to receive up to an additional 750,000 Zenyatta shares (on pre-feasibility and feasibility studies) pursuant to the sale of the interest in the Block 4F Claims. Before the sale of the interest in the Block 4F Claims, Cliffs (and its affiliates) owned a total of 4,675,000 shares of Zenyatta and 3,200,000 common share purchase warrants (the “Warrants”); 2,200,000 of which entitle the holder to acquire one common share of Zenyatta for $1.00 until December 23, 2012, and 1,000,000 of which entitle the holder to acquire one common share of Zenyatta for $1.50 until December 23, 2015. Cliffs (and its affiliates) now hold 5,175,000 common shares of Zenyatta, representing 12.7% of Zenyatta’s outstanding shares. In the event that the Warrants are fully exercised and all shares are issued pursuant to the Block 4F Claims purchase agreement, Cliffs (and its affiliates) would hold 9,125,000 Zenyatta shares, representing approximately 20.5% of the total issued and outstanding shares of Zenyatta calculated on a partially diluted basis and 15.4% on a fully diluted basis.

Cliffs (and its affiliates) hold the shares and Warrants of Zenyatta for investment purposes and may, from time to time, acquire additional securities of Zenyatta or dispose of such securities as it may deem appropriate. Cliffs Natural Resources Exploration Inc.’s address is c/o Cliffs Natural Resources Inc., 200 Public Square, Suite 3300, Cleveland, OH 44114, and a copy of the applicable early warning report can be obtained from counsel to Cliffs Natural Resources Exploration Inc., Lawson Lundell LLP, Attention Khaled Abdel-Barr at (604) 631-9233 or under Zenyatta’s profile on SEDAR at www.sedar.com.

Cliffs (inclusive of its affiliates) is a “related party” of Zenyatta as it is a holder of 10% or more of the issued and outstanding shares of Zenyatta and, thereby, the sale of the interest in the Block 4F Claims is a “related party transaction”, as such terms are defined by Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions (“MI 61-101”). In addition, Aubrey J. Eveleigh, President, Chief Executive Officer and a Director of the Company is a “related party” by virtue of his interest in the Second Amended Albany Agreement. MI 61-101 requires Zenyatta, in the absence of exemptions, to obtain a formal valuation for, and minority shareholder approval of, the “related party transaction”. Zenyatta is relying on the exemptions from the formal valuation and minority approval requirements of MI 61-101 pursuant to which a formal valuation and minority approval are not required in the event that at the time the transaction is agreed to, neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, exceeds 25 per cent of Zenyatta’s market capitalization. The purchase of the interest in the Block 4F Claims was approved by the directors of Zenyatta, all of whom are independent of Cliffs.

Zenyatta now has 40,597,313 common shares issued and outstanding with a total of 59,354,862 shares on a fully diluted basis. 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. 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

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Standard Graphite Drills 52.9m of 7.5% Graphite Including 22.9 m of 12.9% Cg

Posted by AGORACOM-JC at 1:38 PM on Wednesday, November 21st, 2012

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Nov. 21, 2012) – Standard Graphite Corp. (TSX VENTURE:SGH) (the “Company”) is pleased to report the initial results from the validation portion of the summer 2012 diamond drilling program on its Mousseau East Deposit. The results are currently being integrated in the database to allow comparison with their historical equivalents.

Highlight Intervals Include:

• M12-01 52.9m of 7.5% Cg
Including 22.9m of 12.9% Cg
• M12-03 18.9m of 9.7% Cg
• M12-04 29.9m of 8.3% Cg
• M12-06 24.6m of 10.6% Cg
• M12-07 15.5m of 11.2% Cg
• M12-10 15.3m of 11.6% Cg

It is of significance to note that M12-01 was emplaced between the main zone and the SW extension confirming the continuity between the two zones. The historical resource did not include this portion of the mineralization and the SW extension. M12-03, -06 and -07 are located along the eastern edge of the main zone indicating that the mineralization is open both east and southward.

The holes selected for duplication represented the various geological environments present at Mousseau East ranging from the higher grade sections within the main zone to the satellite or marginal portions present outside. The primary objective of this program was to reproduce the historical results to confirm the accuracy both in the location of the previous holes and in the assaying. Logging of the core corroborated the geological setting where the graphite occurs for a large part at the interface between the quartzofeldspathic gneisses and the calcsilicate/marble units on the northeastern flank. The validation phase is essential to allow the use of the historical data for the calculation of a resource under the current NI43-101 norm.

MRB & Associates is now integrating the results in the database to allow the direct comparison with the historical diamond drill holes and to validate the results according to the strict internal QA/QC protocol. The weighted averages for intervals “or composite samples” were calculated from the preliminary results and these are presented in the table below.

Drill Hole Depth Intersection*
(m)		 Graphite
Cg %
FROM (m) TO (m)
M12-01 16.1 69.0 52.9 7.50%
including 16.1 39.0 22.9 12.92%
including 48.4 69.0 20.6 4.65%
M12-02 9.2 24.3 15.1 2.36%
M12-02 34.1 40.6 6.5 9.77%
M12-03 6.8 20.2 13.4 1.45%
M12-03 25.2 44.1 18.9 9.72%
M12-04 7.4 19.2 11.8 6.26%
M12-04 32 61.9 29.9 8.31%
M12-04 80.5 99.6 19.1 4.39%
M12-04 103.1 105.0 1.9 1.95%
M12-05 8.3 25.6 17.3 8.58%
M12-06 1.3 16.4 15.1 7.90%
M12-06 29.2 53.8 24.6 10.64%
M12-07 8.1 23.6 15.5 11.16%
M12-08 5.2 12.5 7.3 5.71%
M12-08 29.8 42.1 12.3 6.26%
M12-09 4.7 25.7 21 7.01%
M12-10 8.8 24.1 15.3 11.62%
M12-11 NSR** NSR NSR NSR
M12-12 23.0 25.8 2.8 7.50%
* Measured intercept along core axis not necessarily representative of true width.
** No significant result

During the validation phase of the program, some 12 historical holes were duplicated representing approximately 20% of the original diamond-drill holes that served to calculate the historical resource. The confirmation drilling was planned in consultation with P&E Mining Consultants who will be responsible for the upcoming NI-43-101 Resource Estimate. Sampling including the addition standardized reference material and blanks was carried out at MRB’s coreshack in Val-d’Or and samples were shipped to Act Labs of Ancaster, Ontario for graphitic carbon assaying. Drilling, logging and sampling are carried out under the supervision of MRB & Associates of Val-d’Or, Québec who is also responsible for the sampling protocol.

The Mousseau East Property was acquired by Standard Graphite in April of 2012 (see press release April 24, 2012) and is located some 40 kilometres northeast of the town of Mont-Laurier in northwestern Québec and within 50 kilometres of Timcal Canada Inc.’s producing Lac-des-Îles Graphite Mine, which is currently the larger of the two producing mines in North America.

Antoine Fournier P. Geo., manages Standard’s exploration and development programs and is the Qualified Person as defined by National Instrument 43-101. He supervised the preparation of the technical information in this release.

About Standard Graphite

Standard Graphite Corp is focused exclusively on the exploration and development of a large portfolio of flake graphite properties in Canada. The company is rapidly positioning itself as North America’s premier pure-play graphite exploration company and it controls 100% interest in 13 highly prospective graphite properties within known graphite districts in both Quebec and Ontario. An aggressive 2012 exploration strategy has commenced and will be implemented by a geologic team with the pedigree of a previous world-class graphite discovery.

ON BEHALF OF THE BOARD

Chris Bogart, President & CEO

Cautionary Statement:

The foregoing information may contain forward-looking statements relating to the future performance of Standard Graphite Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Standard Graphite Corp.’s filings with the appropriate securities commissions.

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 release.

Contact Information

 

Standard Graphite Corporation
Chris Bogart
President & CEO
(604) 683-2509
(604) 683-2506 (FAX)
[email protected]
www.standardgraphite.com

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Big North Announces Acquisition of Grafito La Barranca Sa De CV, Including 3 Past Producing Graphite Mines

Posted by AGORACOM-JC at 2:45 PM on Tuesday, November 20th, 2012

Vancouver, B.C., NOV 20, 2012 – BIG NORTH GRAPHITE CORP. (TSX-V: NRT) (the “Company” or “Big North”), is pleased to announce that further to its press release dated September 10, 2012, it has signed a Definitive Mineral Property Option Agreement (the “Option Agreement”) with Can-Am Gold Corp. (the “Vendor”) to acquire all of the issued and outstanding shares of Grafito La Barranca SA de CV (“Grafito”), held by the Vendor (which shares represent 99.9% of the issued and outstanding share capital of Grafito).  Grafito is the registered and beneficial owner of two mining concessions located in Sonora, Mexico, which encompass the past producing Nuevo San Pedro, Caraples and La Fortuna amorphous graphite mines.

Grafito holds a 100% interest in the Aki Wiki concession (“Aki Wiki”) and has a 50/50 joint venture on the Nuevo San Pedro property (“Nuevo San Pedro”, and together with Aki Wiki, the “Property”), a past producing amorphous graphite mine which is currently being re-opened. Both concessions are located in the San Jose de Moradillas region, a region that has produced graphite for more than 145 years. San Jose de Moradillas is located approximately 45 kilometers southwest of the city of Hermosillo, Mexico.

Big North Graphite President & CEO Spiro Kletas states, “We are very pleased to announce the close of the Grafito la Baranca acquisition.   The projects are in the mining friendly state of Sonora, Mexico and have great infrastructure and access. The San Jose de Moradillas region has a rich history of amorphous graphite production. The company intends to help accelerate the re-start of the Nuevo San Pedro mine, along with our JV partner, and we intend to produce amorphous graphite in the near future.  The Company’s goal is to be amongst the first TSX Venture Exchange (the “TSX.V”) companies to produce graphite and we believe that this acquisition puts us in line to accomplish this goal.”

Further details regarding the Property can be found in the Company’s Sept 10, 2012 press release. Maps of the Property will be posted on the Company’s website at: http://www.bignorthgraphite.com/.

The Option Agreement

Pursuant to the terms of the Definitive Agreement, Big North will acquire 100% of the interests held by the Vendor in the Property by acquiring all of the issued and outstanding shares held by the Vendor in Grafito by making the following payments and issuing the following common shares to the Vendor:

-US$25,000 upon signing the LOI as a non-refundable deposit; 
(PAID)

-US$25,000 upon signing of the Definitive agreement

-US$150,000 and 1.2 million shares of Big North Graphite within 5 business days of TSX.V approval (“Effective Date”)

-On or before the 6 month anniversary of the Effective Date, issue the vendor an additional 500,000 shares of Big North Graphite

-On or before the first anniversary of the Effective Date, issue the vendor an additional 500,000 shares of Big North Graphtite.

The Vendor and Big North are arm’s length parties as defined by the policies of the TSX Venture Exchange (the “TSXV”). A finder’s fee of $20,000 CDN will be paid in connection with this Transaction as permitted by the policies of the TSX.V, and is subject to TSX.V approval.

The Transaction is subject to TSXV approval.

For further information concerning this press release, please contact Spiro Kletas at (604) 629-8220.

ON BEHALF OF THE BOARD

“Spiro Kletas”
Spiro Kletas
President and Chief Executive Officer

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.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company.

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Galaxy Graphite Corp. Reports Highly Encouraging Gold Results at Brownell Lk, SK

Posted by AGORACOM-JC at 10:10 AM on Friday, November 16th, 2012

VANCOUVER, BRITISH COLUMBIA–(Nov. 16, 2012) – Galaxy Graphite Corp. (TSX VENTURE:GXY) (the “Company” or “Galaxy”) is pleased to announce that a two-phased summer field program has returned very encouraging sample results on its Brownell Lake, SK gold project.

Following the Phase I program consisting of prospecting and sampling (soils and outcrops), as well as ground geophysics (VLF/magnetometer), Phase II included detailed outcrop sampling with diamond-saw cut channel samples, over prospective zones identified in Phase I.

The Brownell Lake property is located in northern Saskatchewan and is prospective for shear zone-hosted gold and intrusion-related gold. Phase Two of work on the Brownell Lake property took place from September 10 to September 17, 2012. During this time period, four historical showings were located, stripped and channel sampled: Olson, Olson Point, Jena and Kalix. One additional historical showing, Juba, was located and grab sampled. Anomalous gold at the Olson and Olson Point showings is believed to be shear zone-related, while gold at the Jena, Kalix and Juba showings is believed to be related to the presence of a nearby granitoid intrusion. A series of trenches was cleared and mapped on the property and a total of 24 rock and 112 channel samples were collected and sent for multi-element ICP-MS analysis at Acme Labs in Vancouver. A total of 128.5 metres of channels were cut and sampled.

Assay results were highly encouraging with a high value of 25.1 g/t Au over 1.03 metres in one location on the Jena prospect and 4.1 g/t Au over 5.1 metres in different area on the same prospect. All showings, with the exception of Juba, yielded anomalous gold values.

Olson/Olson Point: The Olson and Olson Point zones are underlain by metavolcanic rocks in an area which is anomalously magnetic. This area was previously drilled with 5 holes during 2007 and 2008. A review of the core from those holes indicates that the full mineralized zone was not sampled and assayed. Channel sampling has expanded the width of the mineralized zone, and has identified its surface expression over a strike length of 220 metres, and is open along strike in both directions.

Summary of trenching results: Central — Trench 1: 2.0 g/t Au over 5.18 m — Trench 2: 1.59 g/t Au over 4.16 m West — Trench 1: 0.16 g/t Au over 12.45 m East — Trench 1: 0.12 g/t Au over 7.29 m — Trench 2: 0.13 g/t Au over 8.39 m Olson Point — Trench 1: 0.26 g/t Au over 20.77 m Including 0.56 g/t Au over 2.42 m and Including 0.95 g/t Au over 3.39 m

Jena: The Jena zone is located on the northern edge of the Brownell Lake intrusion. Anomalous gold values occur in metasediments at the contact, in minor auriferous quartz veins and in the granite. The showing was drilled in 1987 to a depth of 61.77 metres, but the drill collar was unable to be located.

Summary of trenching results: — Trench 1: 4.1 g/t Au over 5.1 m Including 8.0 g/t Au over 2.15 m — Trench 2: 0.6 g/t Au over 4.76 m — Trench 3: 5.4 g/t Au over 4.97 m Including 25.1 g/t Au over 1.3 m — Trench 4: 1.76 g/t Au over 4.93 m Including 3.9 g/t Au over 2.16 m — Trench 5: 0.4 g/t Au over 2.58 m (extent of trench restricted due to topography)

Kalix zone: The Kalix zone is located on the eastern side of the Brownell Lake granitic intrusion and consists of quartz vein stockwork in the granite near the contact with staurolite schist. Two drill holes, totaling 168.2 metres were drilled on the zone in 1987; only one drill collar was located.

Summary of trenching results: Central — Trench 1: 2.7 g/t Au over 9.13 m Including 6.9 g/t Au over 3.49 m East — Trench 1: 0.2 g/t Au over 16.7 m Including 0.95 g/t Au over 1.6 m West — Trench 1: 0.1 g/t Au over 9.11 m South — Trench 1: 0.41 g/t Au over 8.02 m Including 1.2 g/t Au over 2.22 m — Trench 2: 0.15 g/t Au over 5.38 m

Chris M. Healey, P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this release.

ON BEHALF OF THE BOARD

Chris M. Healey, President and CEO

We seek safe harbor.

FOR FURTHER INFORMATION PLEASE CONTACT: Galaxy Graphite Corp. Chris M. Healey President and CEO (604) 921-1810 (604) 921-1898 (FAX)

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.

Source: Galaxy Graphite Corp.

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Focus Announces New Graphite Discovery at Lac Tetepisca Quebec

Posted by AGORACOM-JC at 10:31 AM on Thursday, November 15th, 2012

OTTAWA, ONTARIO–(Nov. 15, 2012) – Focus Graphite Inc. (“Focus” or the “Company”) (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) is pleased to announce the discovery of a new graphite bearing corridor on the Company’s 100%-owned Lac Tétépisca property (the “Property”) located to the southwest of the Manicouagan reservoir, 234 km north-northwest of Baie-Comeau, Québec. Reconnaissance bedrock sampling carried out during the summer of 2012 has resulted in the identification of a 900 m long by up to 100 m wide graphite bearing corridor on the Property. A total of 26 mineralised grab samples define the new “Manicouagan-Ouest” graphitic corridor, 17 of which host graphitic carbon* (Cgr) grades in excess of 5.59% Cgr (range: 5.59% – 45.80% Cgr; Table 1). The remaining eight (8) grab samples which delineate the graphitic trend show Cgr grades below 5.00%.

The Lac Tétépisca property is located in the Grenville geological Province of Québec. The Manicouagan-Ouest graphitic corridor is set in metasedimentary rocks of the Mahinek Formation. The graphite-bearing outcrops within the corridor are composed of fine to medium grained quartz-feldspar-biotite schist with local occurrences of garnet and kyanite. Fine to coarse graphite flakes and associated sulphides make up 10% to 20% of the rocks, with up to over 50% in strongly mineralized zones.

Gary Economo, President and CEO of Focus Graphite, states “We are very excited about our Manicouagan-Ouest graphite discovery as the new interpreted graphite-bearing corridor compares favourably in terms of length, width and grades to our world class Lac Knife graphite deposit, currently under advanced mineral development. We will be planning a comprehensive follow-up exploration program for Lac Tétépisca in 2013 which will comprise of ground geophysical surveying, trenching and an initial round of core drilling in order to confirm the full extension and thickness of the graphitic corridor.”

The new Manicouagan-Ouest graphite discovery is located 10 km north of the Lac Guéret graphite deposit which hosts National Instrument (NI) 43-101 compliant Measured and Indicated mineral resources of 7.6 Mt grading 20.40% Cgr (Source: Roche, 2012: Technical Report on the Lac Guéret Graphite Project; available at www.sedar.com under Mason Graphite Inc.).

A map of the Tétépisca property showing the location of the Manicouagan-Ouest graphite bearing corridor is available on the Company’s website at www.focusgraphite.com.

Table 1. Summary of best grab sample graphitic carbon assays* (> 5.00 % Cgr) and related sulfur and zinc assays from the 2012 Lac Tétépisca property reconnaissance survey.

Sample No. Cgr *
(%)		 S (%) Zn (ppm)
232361 45.80 0.24 57
232371 27.80 >10.0 1,220
232358 23.60 9.21 4,160
232973 18.80 >10.0 4,370
232351 17.50 >10.0 1,320
232357 17.40 >10.0 2,360
232975 16.95 >10.0 3,450
232983 14.45 0.59 254
232353 12.45 >10.0 1,190
232990 11.80 0.83 274
232364 ** 10.80 1.41 358
232974 10.20 >10.0 1,140
232356 7.27 9.89 484
232370 7.06 >10.0 166
232164 ** 6.86 0.30 433
232987 6.25 0.46 230
232992 6.09 0.35 28
232368 5.99 >10.0 135
232988 5.59 0.38 144
* All rock sample carbon analyses performed by ALS Laboratory Group are delivered as organic carbon (Corg) assays but are expressed here as graphitic carbon (Cgr) based on the assumption that all carbon contained in the highly metamorphosed rocks is held within graphite with no carbon as organic matter.
** Samples collected outside of the Manicouagan-Ouest graphite bearing corridor

About the Lac Tétépisca graphite property

The Lac Tétépisca property consists of 67 contiguous map-designated claims (“CDC”) covering 3,616.15 ha. The Property is located in the southwest Manicouagan reservoir area, 234 km north-northwest of Baie-Comeau, in the Côte-Nord administrative region of Québec. The Property is accessible year-round by road by way of a network of logging roads which start from Route 389. The property is part of the former Lac Guéret-Nord property of SOQUEM Inc. and Quinto Technology Inc. Focus acquired 100% mineral rights to the Property from a third party in 2011.

Quality assurance / Quality control

The Lac Tétépisca exploration program is supervised by Benoit Lafrance, Ph.D., P.Geo., Focus senior geologist and a Qualified Person under NI 43-101. Strict quality control protocols have been applied at the field sampling, sample handling and analytical stages. Mineralized standard and blank materials have been inserted in all samples batches. All assays were performed by ALS Laboratory Group (“ALS”) at ALS’ Val-d’Or and Vancouver laboratories. ALS is an ISO 9001:2008 and ISO 17025 qualified assayer that performs and makes available internal assaying controls. Organic carbon content is measured on representative 0.1-0.2 g samples digested in dilute hydrochloric acid (to remove inorganic carbon) using a LECO carbon analyzer which combines direct combustion and infrared absorption (ALS Code C-IR06). The LECO detector response is processed and displayed directly as the percentage of organic carbon (including graphitic carbon and organic matter). Sulfur and traces elements were measured by ICP-AES and ICP-MS methods following a four acids (perchloric; nitric; hydrofluoric; hydrochloric) digestion on a prepared 0.25 g sample (ALS Code ME-MS61).

Other News

Focus announces that its board of directors has approved an amendment to the Corporation’s stock option plan (the “Plan”) regarding the expiry of outstanding options held by an option holder who ceases to be an eligible person under the Plan (the “Date of Termination”). Currently, such options would expire on the earlier of the original expiry date or twelve (12) months following the Date of Termination, excluding options granted to persons performing investor relations activities which are subject to shorter expiry periods under the Plan. The amendment to the Plan provides the possibility for the Corporation to impose under any employment agreement, consulting agreement or any other type of agreement a shorter period under which options may continue to be exercisable by the option holder following the Date of Termination.

About Focus Graphite

Focus Graphite Inc. is an emerging mid-tier junior mining development company, a technology solutions supplier and a business innovator. Focus is the owner of the Lac Knife graphite deposit located in the Côte-Nord region of northeastern Québec. The Lac Knife project hosts a NI 43-101 compliant Measured and Indicated mineral resource of 4.972 Mt grading 15.7% carbon as crystalline graphite with an additional Inferred mineral resource of 3.000 Mt grading 15.6% crystalline graphite (Source: Roche, 2012: Technical report on the Lac Knife graphite project; available at www.sedar.com). Focus’ goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. On October 29th, 2012 the Company released the results of a Preliminary Economic Analysis (“PEA”) of the Lac Knife project which demonstrates that the project has robust economics and excellent potential to become a profitable producer of graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus Graphite is also investing in the development of graphene applications and patents through Grafoid Inc.

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

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

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Lomiko Drills 4.77 Meters Of 10.80% Cg, 19.52 Meters Of 6.23% Cg and 39.80 Meters Of 3.71% at Quatre Milles East Flake Graphite Property

Posted by AGORACOM-JC at 2:01 PM on Tuesday, November 13th, 2012

Vancouver BC – LOMIKO METALS INC. (TSX-V:LMR, OTC:LMRMF, FSE:DH8B) (the “Company”) is pleased to report results for 17 of 23 drill holes completed at the Quatre Milles East Flake Graphite Property in Quebec.

The Company is very encouraged by Phase I results that continue to confirm wider zones than expected from over 10 holes with mineralization starting near surface.  The strike length is over 1.1 km long and open to extension.

“Quatre Milles is a viable mining prospect based on current results.  Multiple drill holes  with significant results bodes well for the concept of a near-surface, open pit scenario.  Phase II will require 50 additional holes to further test the property”, stated A. Paul Gill, CEO,Lomiko Metals Inc.

 

Highlights Drill Holes 7-23

-QM 12-10 4.50  m to 47.42 m     42.92 meters of    2.47 Cg%

including         5.46 meters of     8.02 Cg%

-QM 12-16 31.48  m to 51.00       19.52 meters of    6.23 Cg%

 

-QM 12-17 5.20  m to 37.73 m     32.53 meters of    2.89 Cg%

-QM 12-19 2.00  m to 43.30 m     41.30 meters of    2.73 Cg%

-QM 12-20 4.30  m to 44.75 m     40.45 meters of    2.83 Cg%

including           3.45 meters of  10.01 Cg%

-QM 12-21 1.35  m to 39.50 m     38.15 meters of    3.43 Cg%

including           4.77 meters of  10.80 Cg%

-QM 12-22 11.20m to 51.00 m     39.80 meters of    3.71 Cg%

including           9.90 meters of    8.81 Cg%

-QM 12-23 6.90 m to 50.10 m      43.20 meters of    3.71 Cg%

 

Highlights Drill Holes 1-6 (Released October 22, 2012)

-QM 12-04 5.00 m to 75.00 m  70.00 meters of   2.17 Cg%

including        12.50 meters of   4.58 Cg%

-QM 12-03 3.50 m to 54.62 m   51.12 meters of   1.48 Cg%

-QM 12-06 40.00 m to 71.50 m  31.50 meters of   1.94 Cg%

 

Please see the table below for detailed results.

 ------------------------------------------------------------------------
 |        |       |        |       |      |Mineralisation     |         |
 |----------------------------------------------------------------------|
 |Drill   |Easting|Northing|Azimuth|Dip(°)|From |To    |Length|Gp %     |
 |Hole #  |(UTM)  |(UTM)   |(°)    |      |(m)  |(m)   |along |         |
 |        |       |        |       |      |     |      |the   |         |
 |        |       |        |       |      |     |      |core  |         |
 |----------------------------------------------------------------------|
 |QM-12-07|496874 |5168653 |320    |-80   |53.00|60.50 |7.50  |1.96     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |53.00|57.50 |4.50  |2.38     |
 |----------------------------------------------------------------------|
 |QM-12-08|496727 |5168627 |320    |-80   |56.47|72.20 |15.73 |1.34     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |56.47|68.50 |12.03 |1.51     |
 |----------------------------------------------------------------------|
 |QM-12-09|496483 |5168198 |140    |-80   |4.00 |75.00 |71.00 |1.88     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |57.82|65.36 |7.54  |6.72     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |57.82|75.00 |17.18 |3.86     |
 |----------------------------------------------------------------------|
 |QM-12-10|496460 |5168123 |320    |-80   |4.50 |47.42 |42.92 |2.47     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |4.50 |13.18 |8.68  |6.18     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |4.50 |23.68 |19.18 |3.92     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |32.68|43.85 |11.17 |1.89     |
 |        |-------------------------------------------------------------|
 |        |       |        |       |      |59.05|90.00 |30.95 |3.00     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |64.67|70.13 |5.46  |8.02     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |64.67|81.12 |16.45 |4.43     |
 |----------------------------------------------------------------------|
 |QM-12-11|496423 |5168079 |320    |-80   |3.25 |55.60 |52.35 |1.74     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |9.25 |13.38 |4.13  |7.28     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |17.88|26.88 |9.00  |2.37     |
 |        |-------------------------------------------------------------|
 |        |       |        |       |      |61.00|89.50 |28.50 |1.90     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |61.00|79.00 |18.00 |2.32     |
 |----------------------------------------------------------------------|
 |QM-12-12|496349 |5168004 |320    |-80   |5.00 |68.90 |63.90 |1.53*    |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |5.00 |10.40 |5.40  |4.53     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |27.90|38.10 |10.20 |1.77     |
 |        |-------------------------------------------------------------|
 |        |       |        |       |      |94.30|102.00|7.70  |1.23     |
 |----------------------------------------------------------------------|
 |QM-12-13|496208 |5167922 |320    |-80   |2.50 |17.40 |14.90 |1.13     |
 |        |-------------------------------------------------------------|
 |        |       |        |       |      |68.90|75.00 |6.10  |2.57     |
 |----------------------------------------------------------------------|
 |QM-12-14|496105 |5167827 |320    |-80   |6.07 |11.25 |5.18  |5.43     |
 |        |-------------------------------------------------------------|
 |        |       |        |       |      |18.70|21.15 |2.45  |1.97     |
 |        |-------------------------------------------------------------|
 |        |       |        |       |      |50.95|55.45 |4.50  |1.28     |
 |        |-------------------------------------------------------------|
 |        |       |        |       |      |80.00|85.25 |5.25  |1.08     |
 |----------------------------------------------------------------------|
 |QM-12-15|496539 |5168342 |240    |-80   |3.60 |48.25 |44.65 |1.68     |
 |----------------------------------------------------------------------|
 |QM-12-16|496583 |5168306 |320    |-90   |2.10 |14.00 |11.90 |1.60     |
 |        |-------------------------------------------------------------|
 |        |       |        |       |      |31.48|51.00 |19.52 |6.23     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |32.47|42.98 |10.51 |9.66     |
 |----------------------------------------------------------------------|
 |QM-12-17|496667 |5168366 |140    |-80   |5.20 |37.73 |32.53 |2.89     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |31.20|37.73 |6.53  |6.57     |
 |        |-------------------------------------------------------------|
 |        |       |        |       |      |44.20|46.80 |2.60  |6.69     |
 |----------------------------------------------------------------------|
 |QM-12-18|496686 |5168327 |320    |-80   |2.20 |41.85 |39.65 |1.94**   |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |37.50|40.85 |3.35  |8.00     |
 |----------------------------------------------------------------------|
 |QM-12-19|496725 |5168323 |320    |-80   |2.00 |43.30 |41.30 |2.73***  |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |2.00 |4.90  |2.90  |9.87     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |13.20|19.20 |6.00  |3.14     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |38.00|43.30 |5.30  |4.53     |
 |----------------------------------------------------------------------|
 |QM-12-20|496779 |5168379 |320    |-80   |4.30 |44.75 |40.45 |2.83**** |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |4.30 |7.75  |3.45  |10.11    |
 |----------------------------------------------------------------------|
 |QM-12-21|496750 |5168350 |140    |-90   |1.35 |39.50 |38.15 |3.43     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |1.35 |6.12  |4.77  |10.80    |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |33.50|39.50 |6.00  |5.84     |
 |----------------------------------------------------------------------|
 |QM-12-22|496658 |5168292 |120    |-90   |11.20|51.00 |39.80 |3.71     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |11.95|21.85 |9.90  |8.81     |
 |----------------------------------------------------------------------|
 |QM-12-23|496549 |5168278 |120    |-90   |6.90 |50.10 |43.20 |3.95     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |6.90 |20.20 |13.30 |5.15     |
 |        |-------------------------------------------------------------|
 |        |INCLUDES:                      |31.20|43.10 |11.90 |6.31     |
 |----------------------------------------------------------------------|
 |* There was                                                      |    |
 |no sampling                                                      |    |
 |done from                                                        |    |
 |21.2m to                                                         |    |
 |22.55m and                                                       |    |
 |from 39.1m                                                       |    |
 |to 41.86m.                                                       |    |
 | Composite                                                       |    |
 |value was                                                        |    |
 |calculated                                                       |    |
 |with 0 value                                                     |    |
 |for these                                                        |    |
 |intervals.                                                       |    |
 |----------------------------------------------------------------------|
 |** There was                                                     |    |
 |no sampling                                                      |    |
 |done from                                                        |    |
 |11.56m to                                                        |    |
 |13.3m; from                                                      |    |
 |20.4m to 22.8m                                                   |    |
 |and from                                                         |    |
 |31.13m to                                                        |    |
 |32.75m.                                                          |    |
 | Composite                                                       |    |
 |value was                                                        |    |
 |calculated                                                       |    |
 |with 0 value                                                     |    |
 |for these                                                        |    |
 |intervals.                                                       |    |
 |----------------------------------------------------------------------|
 |*** There                                                        |    |
 |was no                                                           |    |
 |sampling                                                         |    |
 |done from                                                        |    |
 |5.9m to                                                          |    |
 |7.2m.                                                            |    |
 | Composite                                                       |    |
 |value was                                                        |    |
 |calculated                                                       |    |
 |with 0                                                           |    |
 |value for                                                        |    |
 |these                                                            |    |
 |intervals                                                        |    |
 |----------------------------------------------------------------------|
 |**** There                                                       |    |
 |was no                                                           |    |
 |sampling                                                         |    |
 |done from                                                        |    |
 |38.2m to                                                         |    |
 |40.75m.                                                          |    |
 | Composite                                                       |    |
 |value was                                                        |    |
 |calculated                                                       |    |
 |with 0                                                           |    |
 |value for                                                        |    |
 |these                                                            |    |
 |intervals                                                        |    |
 ------------------------------------------------------------------------

 

-Drill hole intervals reported herein are not true widths but reported along core.

-Drill hole intervals are weight-averaged based on the sample width.

-No internal cut-off grades were used in the reported intervals.

 

Acme Metallurgical Limited of British Columbia conducted analysis

 

-100 gram samples were dried for pulverizing.

-5 grams of the pulverized pulp was then leached with hydrochloric acid

-Leach residue was roasted at 450 degrees Celsius and 1200 degrees Celsius.

-Weights were measured between double ignitions.

 

Quality Control and Assurance Procedure

 

-Duplicate and internal standard samples were taken every tenth sample

-If any duplicate or standard results exceeded 95% confidence limit, the entire ten sample batch was repeated.

 

The previous drilling by Graphicor at Quatre Milles East indicated a near-surface, road-accessible target, which was intersected by multiple drill holes during historic drilling. The available information has been complied into a NI 43-101 report, which will be the template for describing a resource if the drilling program is successful. It is available at:

http://www.lomiko.com/properties/quatre.html

 

Graphite Facts

 

-Natural graphite comes in several forms: flake, vein, amorphous and lump.

 

-Southwestern Quebec is host to some of the most favourable geological terrain for graphite exploration in Canada and is known to host graphite resources, including the nearby Lac Des Iles Mine operated by Timcal.

 

-Graphite has many important new applications such as lithium-ion batteries, fuel cells, and nuclear and solar power that have the potential to create significant incremental demand growth.

 

-There is roughly 20 times more graphite by weight needed to produce a lithium-ion battery than there is lithium.

 

-Of the 1.2 million tonnes of graphite produced annually, approximately 40 per cent is of the most desirable flake type.

 

High-growth, high-value graphite applications require large-flake and high-purity graphite, which is the prime exploration and development target at the Quatre Milles East Property.

 

Lomiko’s Quatre Milles East Graphite Property

 

The Quatre Milles East Property is road accessible and is located approximately 175 km northwest of Montreal and 17 km due north of the village of Sainte-Veronique, Quebec. The property consists of 28 contiguous claims totaling approximately 1,600 hectares.

 

The property was originally staked and explored by Graphicor in the summer of 1989 based on the results of a regional helicopter-borne EM survey. The underlying geology consists of intercalated biotite gneiss, biotite feldspar gneiss, marble, quartzite and calc-silicate lithologies of the Central Metasedimentary Belt of the Grenville Province.

 

Historical Highlights

 

Graphicor completed reconnaissance mapping and prospecting as well as ground geophysics and a 26 hole diamond drill program totaling 1,625 metres. The work identified several conductive trends in the central portion of the property and at least three, relatively flat lying graphitic beds. Three surface samples were collected and analyzed returning results of 14.16% Cgf, 18.06% Cgf and 20.35% Cgf. 23 of the initial 26 drill holes intersected graphite concentrations with graphite concentration in range of 4.69% in hole Q90-1 to a highlight of 8.07% Cgf over 28.60 metres in hole Q90-7. The highest individual assay was reported in hole Q90-10 reporting 15.48% Cgf over 0.50 metres. A table of results from the 43-101 indicates:

 ------------------------------------------
 |HOLE NO.|FROM(M)|TO(M)|WIDTH (M)|GRADE  |
 |        |       |     |         |(% CGP)|
 |----------------------------------------|
 |Q90-1   |8.94   |10.46|1.52     |7.33   |
 |----------------------------------------|
 |Q90-2   |28.68  |30.13|1.45     |10.38  |
 |----------------------------------------|
 |Q90-3   |16.23  |17.84|1.61     |4.09   |
 |----------------------------------------|
 |Q90-4   |9.4    |14.1 |4.7      |3.95   |
 |----------------------------------------|
 |Q90-5   |2      |3.90 |1.90     |2.07   |
 |----------------------------------------|
 |Q90-5   |22.13  |23.25|1.12     |10.52  |
 |----------------------------------------|
 |Q90-6   |32.54  |41.19|8.65     |8.07   |
 |----------------------------------------|
 |Q90-6   |43.47  |44.05|0.98     |3.87   |
 |----------------------------------------|
 |Q90-7   |3.94   |32.54|28.60    |8.07   |
 |----------------------------------------|
 |Q90-8   |1.54   |2.16 |0.62     |14.89  |
 |----------------------------------------|
 |Q90-8   |5.23   |8.05 |2.82     |7.45   |
 |----------------------------------------|
 |Q90-9   |2.05   |3.10 |1.05     |8.47   |
 |----------------------------------------|
 |Q90-9   |5.76   |6.8  |1.04     |10.86  |
 |----------------------------------------|
 |Q90-10  |2.14   |5.54 |3.40     |8.02   |
 |----------------------------------------|
 |Q90-10  |7.03   |7.61 |0.58     |10.59  |
 |----------------------------------------|
 |Q90-10  |8.53   |9.03 |0.50     |15.48  |
 |----------------------------------------|
 |Q90-10  |9.27   |11.24|1.97     |12.37  |
 |----------------------------------------|
 |Q90-10  |14.16  |15.46|1.30     |4.26   |
 |----------------------------------------|
 |Q90-11  |26.82  |34.02|7.20     |4.63   |
 |----------------------------------------|
 |Q90-12  |0.94   |8.53 |7.59     |8.60   |
 |----------------------------------------|
 |Q90-12  |38.16  |43.61|5.45     |3.79   |
 |----------------------------------------|
 |Q90-13  |0.69   |10.28|9.59     |4.64   |
 |----------------------------------------|
 |Q90-13  |40.95  |43.14|2.19     |3.82   |
 |----------------------------------------|
 |Q90-14  |5.56   |7.22 |1.66     |8.12   |
 |----------------------------------------|
 |Q90-15  |2.21   |5.59 |3.38     |9.76   |
 |----------------------------------------|
 |Q90-16  |       |     |         |NSV    |
 |----------------------------------------|
 |Q90-17  |15.48  |18.63|3.15     |8.11   |
 |----------------------------------------|
 |Q90-17  |21.43  |23.67|2.24     |13.29  |
 |----------------------------------------|
 |Q90-17  |36.77  |47.97|11.20    |5.88   |
 |----------------------------------------|
 |Q90-17  |57.15  |58.21|1.06     |9.53   |
 |----------------------------------------|
 |Q90-17  |59.54  |69.82|10.28    |5.99   |
 |----------------------------------------|
 |Q90-18  |10.68  |12.90|2.22     |8.12   |
 |----------------------------------------|
 |Q90-19  |47.80  |49.25|1.45     |9.16   |
 |----------------------------------------|
 |Q90-19  |50.42  |58.49|8.07     |5.72   |
 |----------------------------------------|
 |Q90-20  |13.51  |16.98|3.47     |5.81   |
 |----------------------------------------|
 |Q90-21  |2.80   |4.98 |2.18     |5.56   |
 |----------------------------------------|
 |Q90-22  |17.37  |20.04|2.67     |2.58   |
 |----------------------------------------|
 |Q90-23  |       |     |         |NSV    |
 |----------------------------------------|
 |Q90-24  |1.78   |4.14 |2.36     |3.77   |
 |----------------------------------------|
 |Q90-24  |12.32  |13.09|0.77     |4.20   |
 |----------------------------------------|
 |Q90-24  |16.86  |18.66|1.80     |4.96   |
 |----------------------------------------|
 |Q90-25  |19.69  |21.24|1.55     |3.67   |
 |----------------------------------------|
 |Q90-25  |25.27  |26.65|1.38     |9.66   |
 |----------------------------------------|
 |Q90-26  |       |     |         |NSV    |
 ------------------------------------------

The Company cautions that it has not had the chance to verify the quality and accuracy of the historic sampling and drilling results reported in this news release, . The historic figures were generated from sources believed to be reliable, however, they have not been confirmed. Although the sampling and drilling results are relevant, they have not been verified.

Graphite Market

 

-The price for flake graphite is $ 2000-$3000 per tonne depending on flake size and grade.

 

-Graphite prices have been increasing prices for large flake, high purity graphite (+80 mesh, 94-97%C).

 

-Graphite prices have almost tripled since 2005 due to the ongoing industrialization of China, India and other emerging economies and resultant strong demand from traditional steel and automotive markets.

 

-Demand for graphite is expected to rise as electric vehicles and lithium battery technology are adopted, nuclear reactors are built in China, and if fuel cells and graphene patents become products.

 

-China, which produces about 70 per cent of the world’s graphite, is seeing production and export growth leveling, and export taxes and a licensing system have been instituted.

 

-Europe and the USA have both indicated graphite is of economic importance and has a supply risk (Critical Raw Materials for the EU, July 2010).

 

Jean-Sebastien Lavallée (OGQ #773), geologist, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this release.

 

For more information, review the website at www.lomiko.com, contact

A. Paul Gill at 604-729-5312 or email: [email protected]

On Behalf of the Board

 

“A. Paul Gill”

 

Chief Executive Officer

 

We seek safe harbor. 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.

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Posted in Graphite | Comments Off on Lomiko Drills 4.77 Meters Of 10.80% Cg, 19.52 Meters Of 6.23% Cg and 39.80 Meters Of 3.71% at Quatre Milles East Flake Graphite Property

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