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Logan Copper acquires graphite property
Posted by
at 9:30 AM on Wednesday, April 25th, 2012
DELTA, BC, April 25, 2012 – Logan Copper Inc. (the “Companyâ€, “Logan Copperâ€, “LCâ€), (TSX.V: LC) is pleased to announce the acquisition of a 3,266 acre graphite property located near the town of Mayo, Quebec, Canada.
LC’s property, the “Mayo Graphite Propertyâ€, is located some 35 kilometres northeast of Ottawa, Ontario and 130 kilometres west of Montreal, Quebec, with excellent infrastructure. The property is 100% owned by Logan Copper Inc. with no net smelter royalty attached.
Summary: Mayo Graphite Project
- Over 3,266 acres of land (13 sq km)
- Known graphite occurrences in area
- A historical Aeromagnetic survey completed over the entire property
- Near major roads and good infrastructure
The Mayo Graphite Property is located 80 kilometres south of the producing Stratmin Graphite Mine. This mine has been producing natural flake graphite since 1988.
The past producing Bell Graphite mine is located 4 kilometres south of LC’s property. Historical records show this mine produced 6,700 tonnes of Graphite from 1906-1912.
Logan Copper is currently compiling all the historical geological data to prepare for an upcoming exploration program (s) on the Mayo Graphite property. Further announcements will be made once the geological / exploration team completes the review of the historical data.
About Graphite
Natural Graphite is an excellent conductor of heat and electricity. Graphite also has the highest natural strength and stiffness of any material. There are myriad of uses such as in brake linings, steelmaking, batteries, lubricants, and reinforcement of plastics.
The commodity price of natural flake Graphite has steadily increased to over $1,170 per tonne from $694 per tonne in 2009. Industrial demand for graphite is growing at approximately 5 per cent annually.
Of the 1.1 million tonnes of worldwide graphite production, 800,000 tons (73%) comes from China. The government of China has imposed an export duty of 20% plus an additional 17% value added tax on exports of graphite to ensure that they have sufficient supplies for domestic use. Demand for graphite continues to grow rapidly through increased use in ion batteries, carbon fibre reinforced plastics, and carbon alloyed metals. Furthermore, additional demand is expected from use in fuel cells and the construction of pebble bed nuclear reactors.
Some examples of uses of graphite are:
- An average fuel cell vehicle will use 80 kilograms of graphite.
- An electric car will require 25-50 Kilograms of graphite,
- Pebble Bed Nuclear Reactors require “3,000 tonnes of graphite at start-up and 600 to 1,000 tonnes per yearâ€.
China has one operating prototype of a Pebble Bed Nuclear Reactor and has firm plans to build 30 more by 2020. Researchers at West Virginia University estimate that “500 new 100 GW pebble reactors will be installed in the US by 2020 with an estimated graphite requirement of 400,000 tonnes†(annually).
“We seek safe harborâ€
SKYPE INTERVIEW: Bob Kasner Discusses Past Producing Open Pit Omega Project
Posted by
at 5:17 PM on Tuesday, April 24th, 2012
The Omega Gold Property is located in Larder Lake, Ontario approximately 18 miles east of Kirkland Lake, and 4 miles west of Kerr Addison a former mine that produced in excess of 10 million ounces of gold. The Omega Property and Kerr Addison both are situated on the Larder Lake Cadillac fault system. This system has produced over 40 million ounces of gold just in the Kirkland/Larder Lake area and is still a productive wealthy mining camp.
Drilling highlights
·OM-12-67:1.787 g/t gold over 16 metres (including 2 metres of 5.84 g/t gold)
·OM-12-69:2.687 g/t gold over 12 metres (including 8 metres of 3.706 g/t gold)
·OM-12-70:0.997 g/t gold over 54 metres (including 10 metres of 2.421 g/t gold: Open Pit)
Graphite Investment Boom Heats Up
Posted by
at 3:19 PM on Tuesday, April 24th, 2012
Graphite seems to be the new rare earth, and investor interest in the mineral, once seen as synonymous with No. 2 pencils, is heating up. Graphite is in short supply, especially large-flake graphite, a must for lithium-ion batteries, fuel cells, and nuclear power. China controls about 80 percent of the world’s graphite supply and its intention to curb exports is causing worry. Historic underinvestment in new graphite projects globally has prompted many juniors to step in and fill the gap. Investor interest in a cycle like this will not last for a long time, but for now, the bubble is growing bigger.
“I believe the Graphite cycle is now where Rare Earths were in 2009,†Ben Axler, managing partner and co-founder of Spruce Point Capital Management, a New York-based hedge fund, was quoted as saying on Seeking Alpha.
Axler, who is long on large-flake graphite company Northern Graphite Corp. (TSXV:NGC), said, “it’s entirely possible…NGC’s shares can easily double from here to over $6/share.†Northern Graphite shares were trading at $2.41 on Friday morning.
Northern Graphite, which owns 100 percent of the Bisset Creek deposit, said earlier this month that it has made test quantities of spherical graphite from graphite. The spherical graphite has been evaluated in lithium/graphite battery test cells, and the “performance of these cells demonstrated that it meets or exceeds current commercial performance requirements,†the company said.
Siddharth Rajeev, head of research at Vancouver-based Fundamental Research Corp. (FRC), told Graphite Investing News in an interview, “we are most bullish on high-grade, large-flake graphite projects.†He added that applications such as batteries and fuel cells will “require high-grade, large-flake graphite – and a significant portion of the demand is currently filled by synthetic graphite. We believe high-grade, large-flake natural graphite has the potential to take a significant market share from the synthetic graphite market.â€
But Rajeev warned that “the recent boom and growing investor interest in the graphite sector have resulted in lot of new graphite companies and/or has prompted existing companies to switch their focus to graphite. Switching focus is not uncommon in the junior resource space. We saw the same trend a few years ago when the rare earth and lithium boom started. Several of those rare earth or lithium companies do not exist anymore. We will see the same in graphite as well. Investors should keep this in mind and look for strong fundamentals and management teams before making an investment decision.â€
Nathan Pearson and Rachel Harrison reported for VantageWire that investors looking to invest in shares of graphite juniors need to “focus on projects with near-surface, high-grade, large-flake deposits that are in politically and economically safe areas with sound infrastructure.â€
Besides Northern Graphite, other firms making headlines in the graphite space are Focus Metals Inc. (TSXV:FMS), Energizer Resources Inc. (TSX:EGZ), Flinders Resources Ltd. (TSXV:FDR), and Standard Graphite (TSXV:SGH) to name a few.
Focus Metals holds 100 percent ownership of its Lac Knife, Quebec, property, which has 16 percent carbon grade medium- and large-flake crystalline graphite, with production expected to begin in 2014. Its shares have risen more than 38 percent so far this year.
Energizer Resources last month confirmed jumbo-flake graphite with more than 90 percent purity at its Green Giant project in Madagascar. Shares of the company have nearly doubled so far this year.
Flinders Resources raised $15 million to advance the Kringel graphite mine in Sweden toward production this month. The Kringel mine, with a capacity 13,000 tonnes per year of flake graphite, operated from 1996 to 2001, when production was halted due to falling graphite prices. The company’s shares are down more than 23 percent so far this year, but have risen more than 20 percent in the past month.
Standard Graphite controls a 100 percent stake in twelve highly prospective graphite properties within known graphite districts in both Quebec and Ontario. Its shares have risen more than 80 percent so far in 2012.
Securities Disclosure: I, Karan Kumar, hold no direct investment interest in any company mentioned in this article.
Source: http://resourceinvestingnews.com/35268-graphite-investment-boom-heats-up.html
Strike Graphite Mobilizing Drill to Simon Lake Graphite Property
Posted by
at 8:26 AM on Tuesday, April 24th, 2012
VANCOUVER, BRITISH COLUMBIA–(April 24, 2012) – Strike Graphite Corp. (TSX VENTURE:SRK) (the “Company”) is pleased to announce that it has begun mobilizing field crews to commence an exploration drill program at its wholly owned Simon Lake Graphite Property, located in Northeastern Saskatchewan.
Drilling is anticipated to begin on or about April 24, and expected to require from 35 to 40 days to complete. The exploration will test both historic showings and those identified from the recently completed VTEM program. Approximately 2,500 to 3,500 m within ten holes, will be completed along the 25 km long conductive trend.
Initial drilling will focus on testing known graphite mineralization along the original 5.5 km long, Simon Lake conductive trend; with approximately 2-3 holes. Up to 7 additional holes will test the recently identified 25 km long conductor, located southwest of Simon Lake, proximal to Saskatchewan Highway 905. The results of the high-resolution airborne TDEM survey (News Release: February 23rd, 2012) are currently being interpreted and combined with the historic drill-hole intersections of graphite and existing structural information. The interpretation consists of advanced forward plate modeling of the graphitic horizons at depth; the work is being conducted by Living Sky Geophysics Inc., of Saskatoon, SK.
All relevant graphite intersections recovered from drill-core material will be processed for mineralogical characterization and initial metallurgical testing.
The work program represents the second phase of the Company’s aggressive 2012 campaign that will include a summer and fall exploration program of further ground surveys and drilling. This exploration will advance the highest priority targets in terms of large-flake graphite along this 25 km trend.
To view a Drill Plan Map overlay on the earlier released EM Survey please click the following link:
http://www.strikegraphite.com/images/Simon-Lake-Project-Target-Areas.jpg
The Simon Lake Graphite Project covers 11,800 hectares, and is located approximately 300 km northeast of La Ronge, Saskatchewan and is intersected by Highway 905. The property consists of several showings of flake graphite mineralization in historic drill holes, which were discovered during the exploration of base metals during the early 70’s. Historic Drill Hole 2-72 encountered a graphitic biotite gneiss with descriptions of “abundant graphite” over a 68 m interval.
Approximately 5.5 km to the southwest, along a the same conductive horizon, Drill Hole E42-5 encountered a graphitic biotite gneiss with core descriptions of “disseminated graphite” or “coarse graphite flakes” over 182.9 m of core, with narrower intervals described as “graphite flakes abundant” and “heavy graphite in 6 to 12 inch bands”.
Within the southwest part of the property, approximately 6 km east of Saskatchewan Highway 905, a large and highly conductive structure has been interpreted as a fold hinge. At this location, the conductive unit exceeds 5 km along strike and is more than 2 km wide; and may represent the strike extension of the graphite-bearing lithologies known at Simon Lake.
Geoff Balderson, President remarks “Explorations is advancing as expected and we intend to continue an aggressive approach to follow-up the large-flake graphite potential that we have identified at Simon Lake. From here our goal remains achieving a graphite resource status as quickly as possible for our shareholders.”
Neil G. McCallum, P.Geo., is a Qualified Person pursuant to NI 43-101, and has reviewed and approved the technical disclosure of this news release.
About the Company:
Strike Graphite Corp. is a progressive exploration company with seasoned management targeting strategic assets on a global scale. In addition to the Deep Bay East and Simon Lake graphite properties, the Company is also active advancing its Wagon Graphite property in Quebec next to the Timcal Graphite mine. The company is also advancing the Satterly Lake gold project in NW, Ontario, located just west of Gold Canyon Resources Inc.
On behalf of the Board of Directors,
Geoff Balderson
For more information on the above or to view the Company’s Corporate Presentation on its Graphite assets and opportunity, please visit the Company’s website at www.strikegraphite.com.
We seek safe harbor.
Contact Information
Strike Graphite Corp.
Geoff Balderson
604.669.9330 or Toll Free: 1.866.669.9337
604.669.9335 (FAX)
[email protected]
www.strikegraphite.com
Graphite: The Boom, China’s Bottleneck and the Exploration Crunch
Posted by
at 4:20 PM on Monday, April 23rd, 2012
COMMENTARY–ProspectingJournal.com–
In graphite very few can doubt the potential. When the metal first came into use its applications were widely restricted to lubricants and pencils. The impending boom of the auto industry in the 1960s then allowed it to tap into new markets, substantially widening graphite’s reach and economic value. Today, a similar pattern of technological innovation and ‘new industry’ is at work, promising an enormous appetite that is firmly rooted in graphite’s ever-expanding applications. There is much to be said about the metal’s distinct ability to remain sought after in ‘old’ industries whilst simultaneously enjoying a firm reliance amongst those of the 21st century. According to Simon Moores, graphite’s versatility is a result of its key properties. He noted, “it’s conductive; it’s a lubricant; it’s resistant to high temperatures and it’s a strong mineralâ€.
In graphite almost all the boxes are ticked and many within the industry are well aware of its potential. Kevin Puil, senior analyst for the Encompass Fund, exclaimed, “there is no substitute for graphite in many technologies, such as lithium-ion batteries. Between cell phones, tablets, laptops, hybrid and electric cars…the industry is growing at 25-30 percent annually.†And thus the growth of the hi-tech industry is commonly perceived as our 21st century equivalent to the 1960’s auto-industry boom. But where the potential is evident and the demand is insatiable, supply simply isn’t. The graphite industry, amongst the fastest growing, has recently seen the wind knocked off its sail because the world’s largest graphite producer is currently holding a very tight reign.
China currently accounts for about 70 percent of global graphite production and it has recently demonstrated a stance towards even greater protectionism. Jacob Securities’ Senior Mining and Metals Analyst, Luisa Moreno, stated, “China wants to better utilize its resources primarily for its own economic development…China, just as most nations, would like to be self-sufficient in key mineral resourcesâ€. Moreno then went on to exclaim, “I believe China is in a resource-preservation modeâ€. In reality there is little the rest of the world can do about it because in truth, nobody is going to fathom the power to bully the world’s second largest economy. China’s stance had led to several repercussions. For one, it has ensured that the price of graphite has grown considerably higher. Kevin Puil noted, “China definitely has a stranglehold on the global graphite supply…It’s 20 percent export duty, 17 percent valued added tax and export licensing system should further tighten supply and drive prices higherâ€. So on negative side, the graphite boom has come at a time when our primary supply has chosen to restrict its rare earth exports. On the plus side, it has prompted the rapid growth and expansion of juniors across the world.
A lot of these juniors have sprung up in Canada, companies of the likes of Northern Graphite Corp. (NGC:TSX: NGPHF:OTCQX). Northern Graphite currently holds 100 percent interest in its Bissett Creek deposit in Ontario. The deposit is conveniently located 17 kilometers from the Trans Canada Highway and boasts considerable infrastructure. This was reiterated by Kevin Puil, who noted, “its entire Bissett Creek deposit in Ontario is flake graphite…it has great infrastructure nearby, including power, gas roads and a small communityâ€. According to Puil, flake graphite “is sought after for its applications in new technologies like lithium-ion batteries and solar panelsâ€. As a result flake is more valuable than other types of graphite and fetches a higher price.
Last week, Northern Graphite announced it had formed a strategic partnership with Panacis, a company that makes battery systems in the telecommunications, defense and renewable energy industries. Northern’s chief executive, Gregory Bowes, stated, “Panacis has a great deal of knowledge and expertise with respect to the manufacture and testing of Lithium ion batteries and has established relationships with most manufacturers. This provides us with a very important window into the Lithium ion battery worldâ€. Northern graphite has allowed itself to stand out, boasting flake graphite that is essential to many new industries and at the same time, tying down a partnership with a powerful buyer.
With China continuing to bottleneck short-term supply chains, juniors such as Northern have been provided with huge incentives and have spent considerable amounts in exploration and feasibility studies. They are still years away from production, but given their strong financial position, these companies look poised to capitalize. Strong demand, high prices and Chinese export restrictions are a proving a perfect formula for the success of today’s juniors.
–
Jason Staeck
ProspectingJournal.com
Velocity Minerals Ltd.-Quebec Graphite Properties Host Large Flake Crystalline Graphite
Posted by
at 10:35 AM on Monday, April 23rd, 2012
VANCOUVER, BRITISH COLUMBIA–(April 23, 2012) – Velocity Minerals Ltd. (TSX:VLC) is pleased to provide further details of historic exploration of its three newly-acquired graphite properties located in the Central Metasedimentary Belt of the Grenville Geologic Province of southwestern Quebec. The following information is from sources that are believed to be reliable but does not meet requirements of National Instrument 43-101 and is provided for information purposes only. The Company’s management and Qualified Persons are conducting due diligence studies to confirm the historic data.
Historical assessment reports, filed in 1991 and 1992 with Quebec’s Ministry of Energy and Resources Mines Sector, refer to large flake graphite on the Ascension and the Lac Vert mining properties and flake graphite on the Buckingham property.
According to the reports, graphite locally occurring on the Ascension “…as flakes up to 1cm in diameter but typically varying from 0.5mm to 5mm in diameter, appears to be preferentially developed within the marble units although minor graphite can be present locally in any of the sedimentary lithologies.â€
Similarly, the reports indicate that samples collected from the Lac Vert property contained graphite flakes from 0.5mm to 2.0mm in diameter. The following samples are from historic data. Lower grade samples also were reported.
| Sample number | Percent Graphite | Sample number | Percent Graphite | ||
| #42404 | 18.95 | % | #42411 | 21.25 | % |
| #42405 | 18.48 | % | #42422 | 4.67 | % |
| #42406 | 17.58 | % | #42423 | 5.06 | % |
| #42407 | 21.31 | % | #42424 | 23.00 | % |
| #42408 | 19.13 | % | #42425 | 15.09 | % |
| #42409 | 20.73 | % | #42426 | 1.68 | % |
Flake graphite is usually categorized by size as:
Large Flake +80 mesh (> .177mm)
Medium Flake +100 mesh (> .149mm) to -80 mesh (< .177)
Fine Flake -100 mesh (< .149mm)
Recent price quotes indicate that large and jumbo flake graphite, comparable to that reported from the Velocity properties, commands a premium price in the commodity market.
CAUTION: The above-detailed analyses have not been verified in any way by Velocity Minerals Ltd. or its Qualified Persons.
Gerald Diakow, President of Velocity Minerals Ltd., said, “Based on the historic data, we are confident that the claims host the large flake and, in fact, extra large flake graphite, which is highly sought after, and is found in a carbonate setting that reflects well for efficiently extracting the graphite from the ore.â€
This News Release is based upon information prepared under the supervision of Erik A. Ostensoe, P. Geo., a Qualified Person (as defined in NI 43-101). However, the specific data referred to herein was obtained from government files and other historical sources believed to be reliable but which have not and cannot be verified.
Velocity Minerals Ltd. is a public company dedicated to the acquisition, exploration and development of molybdenum and other mineral resources. In addition to the Company’s two Cassiar, B.C. area properties, several other opportunities in the mining industry in North America and elsewhere are actively being pursued.
On behalf of the Board of Directors,
Kenneth R. Holmes, Chairman.
Forward-Looking Information
This release includes certain statements that may be deemed “forward-looking statementsâ€. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expectsâ€, “plansâ€, “anticipatesâ€, “believesâ€, “intendsâ€, “estimatesâ€, “projectsâ€, “potential†and similar expressions, or by words indicating that events or conditions “willâ€, “wouldâ€, “mayâ€, “could†or “should†occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
The TSX has neither approved nor disapproved of the information contained herein.
Contact Information
Velocity Minerals Ltd.
Jeremy Yaseniuk
Investor Relations
(604) 689-7411 or Toll Free: (866) 920-0567
www.velocityminerals.com
Northern Graphite Reports Additional Metallurgical Test Results
Posted by
at 10:12 AM on Monday, April 23rd, 2012
Variability testing confirms large flake, high purity, high recovery throughout resource
OTTAWA, ONTARIO – Northern Graphite Corporation (TSX VENTURE:NGC)(OTCQX:NGPHF) is pleased to announce that variability testing has been completed on its Bissett Creek Project and has confirmed that the high recovery of large flake, high purity graphite is consistent across the entire resource. The overall recovery from eight Locked Cycle Tests (“LCTâ€) was 97% and almost all concentrate will qualify for large flake (+80 mesh), high carbon (94%) pricing. In fact, 33% of the concentrate was +50 mesh, 97% graphitic carbon (“Cgâ€) and 19% was +32 mesh, 98% Cg which are exceptional products that will attract premium pricing based on both flake size and carbon content. In two of the locked cycle tests the +32 mesh concentrate reached 99% Cg.
SGS Metallurgical Services (Lakefield) (“SGSâ€) performed the LCTs on representative drill core samples taken from a number of locations within the deposit to confirm that the recovery and flake size distribution were consistent throughout the resource. The eight LCT tests produced final concentrates which showed consistent flake size distribution and carbon content. The overall concentrate grade averaged 95% Cg with a 97% recovery. A concentrate which grades 94% Cg and has a flake size distribution of 80% greater than +80 mesh is the industry standard large flake product. Almost all Bissett Creek production meets this specification as 75% of the final concentrates were +80 mesh. Approximately 5% of the concentrate was +100 mesh, 94% Cg and 10% was +200 mesh, 93% Cg. Less than 9% was very small, -200 mesh flake grading 83% Cg. Concentrate smaller than -150 mesh and 90% Cg may not be salable unless it can be upgraded to +90% Cg which the Company believes it can achieve by recirculating the -200 mesh flake within the circuit.
Most significantly, 52% of the graphite concentrate produced was jumbo size, +50 mesh flake which averaged 97.4% Cg. Two of the tests produced +32 mesh flake at greater than 99 % Cg. No premium pricing was used in the Preliminary Economic Assessment and it will not be used in the bankable final Feasibility Study (“FSâ€).
Gregory Bowes, Chief Executive Officer, commented that: “We have now successfully completed the full suite of metallurgical testing, including lab and bench scale work, a bulk sample/pilot plant test and now variability testing, and believe it confirms Bissett Creek concentrates will have the best flake size distribution and the highest carbon content in the industry.†He added that: “With the FS scheduled for completion in May, 2012, Bissett Creek is one of the most advanced new graphite projects in the world.â€
Concentrate Flake Size Distribution (%) and Graphitic Carbon (Cg) Grade (%)
| Composite | Recovery % |
+32 (%) |
Cg (%) |
+50 (%) |
Cg (%) |
+80 (%) |
Cg (%) |
+100 (%) |
Cg (%) |
+200 (%) |
Cg (%) |
| LG Pit #3 | 96.8 | 19.0 | 96.1 | 32.8 | 95.6 | 23.2 | 94.2 | 5.0 | 93.8 | 10.4 | 90.0 |
| LG Pit #4 | 95.2 | 22.6 | 97.6 | 32.6 | 96.3 | 20.1 | 94.6 | 4.6 | 92.3 | 9.5 | 91.2 |
| MG Pit #2 | 97.7 | 23.7 | 98.5 | 34.1 | 97.5 | 22.1 | 96.1 | 3.9 | 95.5 | 8.7 | 95.3 |
| MG Pit #4 | 96.8 | 25.7 | 97.5 | 32.8 | 96.5 | 19.9 | 95.5 | 3.8 | 94.5 | 9.3 | 92.3 |
| HG Pit #1 | 99.1 | 11.2 | 98.5 | 31.9 | 97.8 | 28.1 | 94.3 | 7.0 | 91.1 | 12.8 | 91.5 |
| HG Pit #2 | 96.2 | 14.8 | 99.2 | 32.8 | 97.4 | 25.9 | 96.1 | 5.9 | 95.0 | 12.0 | 93.3 |
| HG Pit #3 | 97.1 | 20.2 | 97.4 | 35.1 | 96.3 | 22.7 | 95.1 | 5.3 | 94.8 | 9.3 | 93.6 |
| HG Pit #4 | 98.3 | 15.7 | 99.0 | 32.0 | 98.9 | 24.4 | 94.9 | 6.0 | 95.2 | 11.7 | 94.7 |
| Average | 97.1 | 19.1 | 98.1 | 33 | 97 | 23.3 | 95.1 | 5.2 | 94 | 10.5 | 92.7 |
| Note: 8.9% of concentrate was -200 mesh at 83% Cg |
Test work at SGS has been ongoing for the past year and a half and culminated in a pilot plant program in December 2011 which also demonstrated that over 50% of the recovered flake will be +50 mesh grading over 97% Cg. The overall carbon recovery in the LCT tests was 97.1% and indicate that with optimization, Pilot Plant recoveries of 90.5% to 94.5% can be increased to 95% in the full scale mill.
Don Baxter, P.Eng, President of the Company and a “Qualified Person†under 43-101, is responsible for and has reviewed and approved the technical content of this press release.
About SGS Metallurgical Services (Lakefield)
SGS Metallurgical Services is recognized as the world leader in the development of bankable flowsheets and pilot plant programs. SGS Metallurgical Services was founded over half a century ago. Its metallurgists, hydrometallurgists and chemical engineers are experienced in all the major physical and chemical separation processes utilized in the recovery of metals and minerals contained in orebodies around the world.
About Northern Graphite Corporation
Northern Graphite Corporation is a Canadian company that has a 100% interest in the Bissett Creek graphite project, located 17kms from the Trans Canada highway between Ottawa and North Bay, Ontario and close to infrastructure. A FS and Mine Closure Plan (“MCPâ€) are expected to be completed and filed in May, 2012. On acceptance of the MCP the Company will be in a position to initiate construction, subject to positive results from the FS and the availability of financing.
Graphite prices have increased substantially due to the ongoing modernization of China and other emerging economies which has resulted in strong demand from traditional steel and automotive markets. In addition, new applications such as lithium ion batteries, fuel cells and nuclear power have the potential to create significant incremental demand growth. It takes 20 to 30 times as much graphite as lithium to make a Li ion battery and their use in the growing EV/HEV market is expected to require significant increases in graphite production. However, graphite production and exports from China, which produces 70% of the world’s supply, are expected to decline and an export tax and a licensing system have been instituted. Both the European Union and the United States have declared graphite a supply critical mineral.
Northern Graphite is well positioned to benefit from this compelling supply/demand dynamic with a near term development project located in Canada. Additional information on Northern Graphite Corporation can be found under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.northerngraphite.com.
This press release contains forward-looking statements, which can be identified by the use of statements that include words such as “couldâ€, “potentialâ€, “believeâ€, “expectâ€, “anticipateâ€, “intendâ€, “planâ€, “likelyâ€, “will†or other similar words or phrases. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. The Company does not intend, and does not assume any obligation, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
-
Gregory Bowes, CEO
(613) 241-9959Don Baxter P.Eng, President
(705) 789-9706
Source: http://www.marketwire.com/press-release/northern-graphite-reports-additional-metallurgical-test-results-tsx-venture-ngc-1647222.htm
GreenLight has mobilized an exploration crew to its Christmas Island Gold and Graphite Property
Posted by
at 10:22 AM on Friday, April 20th, 2012
Apr 20, 2012 — VANCOUVER, British Columbia – April 20, 2012 – GREENLIGHT RESOURCES INC. (TSXV.GR), is pleased to announce that it has commenced exploration of its recently acquired Christmas Island Gold and Graphite property located in the County of Cape Breton, Nova Scotia. The focus of the exploration program is to expand on known gold and graphite showings and conduct the first systematic geological exploration on the property to determine drill targets.
GreenLight has recently completed a compilation of current and historic data consisting of Airborne and Ground VLF along with Mag and IP surveys. Surface outcroppings corresponding with the VLF-EM surveys have identified a sizeable graphite-bearing structure. These surveys appear to have identified widely disseminated graphite as well as graphite veining. Ground crews will be prospecting for further outcroppings of graphiteand will be sampling known showings. The objective is to help identify drill targets for an upcoming drill program designed to test the graphite structure to width and depth. The field crews will also expand the prospecting program to explore several known gold showings on the property.
Previous sampling work completed on the known graphite showings in 2006 resulted in a processing program being recommended by Dr Ian Flint, a leading expert in Graphite. Execution of 2006 program will incorporate the current field program and data compilation.
A summary of the 100% owned property is as follows:
-Large contiguous 5,760 acreclaim block hosting multiple near surface target areas, for Gold, Copper & Graphite. Numerous IP and geochemical anomalies, the longest of which is greater than a kilometre in length.
-Includes Gold (up to 5oz/t) and Graphite (up to 20% graphite in shear zones, up to 4% disseminated) showings identified from trenching.
-Excellent infrastructure with road access to the property
Flake Graphite Potential
Graphite samples were taken from graphite showings on the newly optioned lands and were tested in 2006. Samples were taken from graphite schist on the property and from the George River Marble along strike from the property. There is a historic graphite mine just to the south, dating from approximately a hundred years ago. Graphite mining of that time concentrated on the high grade, vein graphite, often found at sheared lithologic contacts between schist and carbonates. There is a good possibility that the more economically attractivedisseminated flake graphite mineralization will be found within the George River Marbles that traverse the property. Also the distinctive geophysical anomalyoccurring the propertymay indicate the presence of additional graphite or other conductive minerals.
Gold Silver and Base Metal Targets
The newly staked ground was acquired to cover an area of mineralization first mentioned in 1876 by the Geological Survey of Canada. They noted that a historic old gold shaft existed approximately 400 feet upstream from the mainroad crossing the property. In 1993/94 the Nova Scotia Department of Natural Resources looked for evidence of the gold mine and found a disturbed area with a quartz/sulphide dump. Samples from this dump returned as high as 5.76%Pb, 3.79%Zn, 1.48%Cu, 0.3%Bi, >0.1%Sb, 0.09%WO3, >50g/t (grams per tonne) Ag and 1.5g/t Au.Follow up work by prospectors a few years later received assays of 0.62g/t Au and 48.8g/t Ag from the rock dump samples. It appears from the dump rock that the mined vein was 1 to 2meters wide. The vein was never located in place at that time. Fifty meters to the south a quartz-carbonate-sulphide vein was identified that ran from 0.13 to 1.45g/t Au and 2.6 to 136g/t Ag. There has been little exploration work done here since that time. The prospectors did an IP survey that identified the mineralized structures and a spruce bark survey that indicated that there was an anomalous zone several hundred meters in length along the trace of the vein systems. The survey does correspond with graphite showings found at surface. Panning of the streams in the area showed there to be free gold in two adjoining streams. One stream was located 2.1kilometers to the SW and the other stream is 1.7km to the NE, which indicates the potential for a mineralized structure some 3.8 kilometers in length. The mineralization is hosted in quartz or quartz carbonate veins with sulphides that occur within a discrete shear zone approximately 100 meters wide which is controlled by a NE trending structure (Fault Zone) cutting both George River Group(Bras dOr Gneiss Complex) and the younger Shunacadie Pluton granites and granodiorites.
Readers are warned that “historical records†referred to in this release have been examined but not verified by a “Qualified Personâ€. Further work is required to verify that the historical assays referred to in this release are accurate.
Patrick Forseille, P. Geo., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.
Options Granted
The Company also announces that it has granted options to purchase600,000 shares to certain officers, consultants and directors of the Company. The options shall be exercisable at a price of $00.15 cents per share and shall have a term of two years.
On Behalf of the board of directors
“Chris Andersonâ€
Christopher R Anderson,
CEO – President 604 488-3900
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