Focus Reports High-Grade Graphite Mineralization at the Lac Guinecourt Property, Quebec: Best Grab Sample Assays Ranging From 6.36% to 45.90% Graphitic Carbon
OTTAWA, ONTARIO -- (Marketwired) -- 05/22/13 -- Focus Graphite Inc. ("Focus" or the "Company") (TSX VENTURE: FMS)(OTCQX: FCSMF)(FRANKFURT: FKC) is pleased to report the final assay results from the summer 2012 reconnaissance exploration program at its 100%-owned Lac Guinecourt graphite property (the "Property") located in the South Manicouagan Reservoir area of northeastern Quebec,17 km to the South of Mason Graphite's Lac Gueret graphite deposit.
A total of 32 grab samples were collected from historical and new graphite-bearing outcrops related to the Graphi-Centre showing area. Twenty-one (21) of the samples returned high-grade graphitic carbon (Cgr(i)) assays ranging from 6.36% to a high of 45.90% Cgr (high-grade assays are defined as greater than 5% Cgr; Table 1). The historical Graphi-Centre showing was formerly part of the Lac Gueret-Sud property of SOQUEM Inc.-Quinto Technology Inc. Numerous graphite-bearing outcrops showing potential for significant lateral continuity and width are recorded within the 2 km by 3 km area hosting the showing.
Gary Economo, President and CEO of Focus Graphite, stated: "Our preliminary exploration results at the Lac Guinecourt property indicate potential for significant economic-grade graphite mineralization. The high-grade graphite grades recorded at Lac Guinecourt together with the excellent results on our near-by Lac Tetepisca project place Focus in a very good position to discover the next economic-grade graphite deposit after Lac Gueret. The Lac Guinecourt mineralization grades compare favorably to those of our Lac Knife deposit. We will be planning a comprehensive follow-up exploration program for Lac Guinecourt in 2013 in order to confirm the full extension and thickness of the graphitic mineralization following the defined linear HLEM anomalies."
Table 1. Summary of best grab sample graphitic carbon (Cgr) assays
(greater than 5.00% Cgr) and related sulfur assays from the 2012
Graphi-Centre showing area reconnaissance survey.
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# Sample Cgr % S %
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232415 45.90 0.32
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232382 43.00 greater than 10.00
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232381 39.20 greater than 10.00
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232390 34.70 9.74
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232386 31.90 greater than 10.00
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232384 30.30 7.00
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232388 27.60 3.33
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232403 27.50 8.55
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232407 27.50 greater than 10.00
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232375 27.40 0.09
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232413 27.30 greater than 10.00
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232391 26.50 2.12
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232385 21.40 greater than 10.00
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232398 21.10 1.59
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232387 13.80 0.99
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232402 12.80 4.70
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232393 11.45 6.87
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232414 9.19 0.52
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232408 7.65 3.12
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232392 6.96 4.67
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232412 6.36 greater than 10.00
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(i) All rock sample carbon analyses performed by ALS Laboratory Group in
this survey (ALS code C-IR06) 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.
Following to the initial reconnaissance, the Graphi-Centre showing area was the subject of a 37.8 line-km horizontal loop electromagnetic ("HLEM") ground geophysical survey conducted by G.L. Geoservices Inc. of Rouyn-Noranda, Quebec. The interpreted HLEM conductors (submitted by Geophysique Camille St-Hilaire of Rouyn-Noranda) suggest the presence of km-scale graphite-bearing structures within the survey area. They will also help to assess the width of the mineralization found in the Graphi-Centre showing area.
Lac Guinecourt graphite property
The Lac Guinecourt graphite property consists of seventy-four (74) map-designated mining claims covering a total of 4012.31 ha and is held 100% by Focus. The Property is located 20 km southwest from the Manicouagan Reservoir, about 220 km north from the city of Baie-Comeau in the Cote-Nord administrative region, of Quebec. The property is easily accessible year-round through a network of main logging roads starting from Highway 389. The portion of the Property surveyed in 2012 holds the historical Graphi-Centre graphite showing discovered by SOQUEM Inc. and Quinto Technology Inc. (now Cliffs Natural Resources) in 2002 while exploring the geological corridor hosting the Lac Gueret deposit which is located 17 km north. The Lac Gueret deposit held by Mason Graphite Inc. (Mason) hosts a National Instrument (NI) 43-101 compliant Measured and Indicated mineral resource of 7.6 Mt grading 20.40% Cgr (Source: Roche, 2012: Technical Report on the Lac Gueret Graphite Project; available at www.sedar.com) which formed the basis of a recent positive Preliminary Economic Assessment study (see Mason press release dated April 22, 2013 available at www.sedar.com).
Geological settings and mineralization
The Lac Guinecourt property is located in the Grenville geological Province. The Property is underlain by sedimentary rocks of the Nault Formation which were metamorphosed to quartz-feldspar-biotite schists and paragneisses. Metamorphism associated with the Grenvillian orogeny has resulted in the formation of economic grade concentrations of graphite dominated by value-enhanced large flakes. Fine to coarse graphite flakes and associated sulphides make up 10-40% of the rocks with up to 40% in strongly mineralized zones. In the area of sampling, up to 21 samples containing more than 5% Cgr are enclosed in a regionally interpreted 2 by 3 km fold structure. Samples were analyzed for organic carbon, sulfur and traces elements.
Maps showing the location of the Lac Guinecourt project as well as the Graphi-Centre showing area are available on the Company's website at www.focusgraphite.com.
Quality assurance / Quality control
The Lac Guinecourt exploration program is supervised by Benoit Lafrance, Ph.D., geo (Quebec), Focus Vice-President of Exploration 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 internal 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 and hydrochloric) digestion on a prepared 0.25 g sample (ALS Code ME-MS61).
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 Cote-Nord region of northeastern Quebec. 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 an excellent potential to become a producer of graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus invests in the development of graphene applications and patents through Grafoid Inc.
The technical information presented in this press release has been reviewed by Benoit Lafrance, Ph.D., geo (Quebec), Focus Vice President of Exploration and a Qualified Person under 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.
Contacts:
Focus Graphite Inc.
Mr. Gary Economo
President and Chief Executive Officer
613-691-1091, ext. 101
geconomo@focusgraphite.com
www.focusgraphite.com