Graphite Corp. Assay Reports Higher Than Anticipated Mineral Grades at Alabama Property
29.05.2013 | Marketwire
Company Reports Grades Showing Over 4% Graphite Mineralization From Key Assay ResultsELKO, 05/29/13 - Graphite Corporation (OTCQB: GRPH) ("Graphite Corp." or the "Company"), an exploration stage company focused on the evaluation, acquisition and development of domestic graphite mining opportunities, is very pleased to announce the results of sampling from a recent field study on its Alabama property.
The study of graphite-bearing mineralization was undertaken at the 3,759.6 acre Carr and Cahaba leases located in Clay County, Alabama.
The 38 Alabama samples returned higher than anticipated grades in comparison with prior observations including historic reports from the U.S., Bureau of Mines which trended to an average of 2% mineralization. The majority of samples were taken in strongly weathered rocks that are very soft and offer simplified production scenarios due to ease of extraction. The samples were taken from several localities throughout the property and the presence of grades showing over 4% and in once instance, higher than 7% crystalline flake graphite offers increasingly promising economics for scalable production.
SAMPLE RESULTS
Graphite Corp. - Job No: 13-338-00994-01
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Sample C-Graphite Sample C-Graphite
Designation % Designation %
C-GP-OR C-GP-OR
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JBA13-101 2.22 JBA13-111 4.34
JBA13-102 3.4 JBA13-112 3.5
JBA13-103 3.47 JBA13-113 2.38
JBA13-104 2.12 JBA13-114 2.5
JBA13-105 3.29 JBA13-115 0.89
JBA13-107 0.58 JBA13-117 7.63
JBA13-108 4.75 PBM-AB-001 1.53
JBA13-109 1.55 PBM-AB-002 2.54
JBA13-110 1.76 PBM-AB-003 4.05
JBA13-111 4.34 PBM-AB-004 3.27
PBM-AB-005 1.78
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Sample C-Graphite Sample C-Graphite
Designation % Designation %
C-GP-OR C-GP-OR
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PBM-AB-006 0.45 PBM-WO-007 2.56
PBM-AB-008 3.59 PBM-WO-008 2.15
PBM-AB-009 1.7 PBM-WO-009 < 0.01
PBM-AB-010 0.46 PBM-WO-010 4.64
PBM-AB-011 2.99 PBM-WO-011 1.91
PBM-WO-001 3.07 PBM-WO-012 2.63
PBM-WO-002 2.29 PBM-WO-013 3.73
PBM-WO-003 1.96
PBM-WO-004 2.4
PBM-WO-005 5.8
PBM-WO-006 2.05
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The geological work was led by Company Director Jason Babcock. The assay work was conducted by INSPECTORATE (A Bureau Veritas Group Company) of Sparks, Nevada. The study included an in-depth physical review of the mineral lease with increasingly focussed attention on specific features of interest.
Company President Brian Goss states, "The consistent presence of mineral grades well above our previous estimates of 2% is very encouraging. These higher percentages clearly indicate that the potential of the leasehold is commercially viable. We are looking forward to moving ahead with a drill program in order to explore the mineralization at depth. With that next step, we can accurately determine the overall resource valuation which is the key to our growth and shareholder interests."
Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information, visit our website at www.graphite-corp.com and ensure you view our corporate video at: www.graphite-corp.com/investors/presentations
About Graphite Corp. (OTCQB: GRPH)
Graphite Corp. is a publicly traded Elko, Nevada-based resource exploration stage company focused on the evaluation and development of graphite based deposits within the United States. The Company is positioning itself to emerge as a leading pure-play exploration company through the development of its current strategic land positions in Alabama and Montana straddling the heartland of America's most significant graphite resources. The Company's experienced geological team continues to pursue additional prospective graphite, precious metal, and rare earth opportunities to advance and develop into strategic assets that increase shareholder value. For more information, visit our website at www.graphite-corp.com
Note Regarding Forward-Looking Statements
This release contains forward-looking statements that reflect the Company's plans and expectations. In this press release and related comments by Company management, words like "expect," "anticipate," "estimate," "forecast," "objective," "plan," "goal" and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.
Contact:
GRPH Investor Relations
Phone: +1-888-278-7140
Email: investors@graphite-corp.com
Website: www.graphite-corp.com