Canada Carbon Inc.: Initial Trenching Results Discover Graphite Vein Exceeding One Metre Width Over 7.9 Metres in Length and Total Length of 12.8 Metres on Miller Graphite Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 25, 2013) - Canada Carbon Inc. (the "Company") (TSX VENTURE:CCB) is pleased to announce the discovery of a new graphite occurrence resulting from trenching on one of the geophysical EM anomalies reported earlier (June 27th, 2013 press release).
This new occurrence is described as an irregular vein of semi massive coarse graphite. The graphite vein is exposed along a 12.8 metres (m) (41.98 feet) strike length, having a NW-SE (148°) orientation and sub vertical dip. From SE to NW the vein varies in width between 1 m and 1.7 m for up to 7.9 m (26 feet). Within that length, the vein maintains a 1.6 m thickness over 2.5 m. Toward the NW, the vein continues beneath a more competent zone in the host rocks for a length of 1.2m. The vein re-appears on the other side of the competent rock and reaches a thickness ranging from 10 cm to 1 m (3.9 inches to 3.28 feet) over a strike length of 3.7 m. Other graphite veins of smaller size can be observed on both sides of the main vein, on available exposures. Finer grained graphite can be locally observed within the surrounding carbonate host rocks. The new occurrence is exposed below 1 to 3 m of glacial till. Additional trenching could extend the new occurrence towards the northwest and southeast.
Semi massive coarse grained graphite occurs within a pegmatitic skarn-mineral envelope, including large crystals of white feldspar, diopside and wollastonite. Local geology consists of a complex intermixing of banded paragneiss and medium-grained carbonate rock (historically referred to as a marble unit), where contorted fragments of gneiss appear to float within an equigranular carbonate matrix. Preliminary observations on coarse graphite occurrence at Miller suggest crystallization from hydrothermal (pneumatolitic) fluid late in the pegmatitic event. The relationship between the pegmatite and the carbonate-rich country rock and the graphite veins remains to be fully understood. A detailed mapping of the trenches is currently underway and will allow a better understanding of the mineralization process which will help in defining the vein system at surface.
R. Bruce Duncan, Interim CEO & Director of Canada Carbon stated, "This quick technical success proves the usefulness of EM geophysics in locating new occurrences of graphite at Miller. We expect that the results from the now completed airborne VTEM survey (survey results pending) will be able to detect any large-scale near-surface occurrences of graphite similar to the discovery disclosed in this release and the historical mined veins at the Miller mine pit. Geophysical targets identified through VTEM anomalies will be confirmed by trenching and/or short drilling." Mr. Duncan further states, "The continued success of our geological team and development of new discoveries highlights the potential of the Company's 100% owned Miller hydrothermal lump/vein graphite property."
The 100% owned Miller Graphite property covers 15.3 kilometres (km)2 and is located 80 km west of Montreal. Main roads connect up to 800 m away from the deposit and travel all around the property. A power line also crosses the property 500 m south of the deposit, and a bush road goes directly to the deposit, which allows for very easy access.
Rémi Charbonneau, Ph.D., P. Geo #290 (an Associate of Inlandsis Consultants s.e.n.c.) is an Independent Qualified Person under National Instrument 43-101, performed a field description of the new occurrence and prepared an initial version of this press release.
About Miller Graphite Mine
The Miller Graphite Mine, located in Grenville Township in Quebec is a past graphite and mica producer with unknown graphite reserves remaining. This mine was worked around 1845 and was probably the first graphite operation in Canada. The quantity of produced graphite is unknown but it is reported that 25 rail cars of lump graphite were shipped from this deposit in the year 1900 and sent to the Globe Refining Company of Jersey City, N.J. This yielded thirty-two tons of clean crucible graphite. The Morgan Crucible Company of London and also J.H. Gauthier and Company, Jersey City, used some of this graphite in their crucibles and pronounced it equal to the best graphite known to come from Ceylon (now Sri Lanka). The property covers 15.3 km2 of land and is located 80 km west of Montreal. A main road, located approximately 800 metres from the deposit, is connected by a gravel road to the deposit allowing very easy access. A power line also crosses the property 500 metres south of the deposit. There is no certainty that further exploration will result in the development of similar deposits.
On Behalf of the Board of Directors
CANADA CARBON INC.
R. Bruce Duncan, Interim CEO and Director
"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."
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).