Standard Graphite Corp. Acquires Diego Gold Project from Cartier Resources
20.11.2014 | Marketwire
VANCOUVER, Nov 20, 2014 - Standard Graphite Corp. (TSX VENTURE:SGH) (OTCQX:DARDF) (the "Company") is pleased to inform that it has acquired a 100% interest on the Diego Gold Project from Cartier Resources ("Cartier") in consideration for the issuance of 1,000,000 common shares of the Company. Cartier will retain a 2% net smelter return royalty, with each tranche of 1% NSR being redeemable for $1,000,000. The Diego Property comprises 49 claims and is located 40 kilometres southwest of the town of Chapais, in the Province of Quebec. It is part of the Abitibi Greenstone Belt that extends over a significant portion of northern Ontario and Quebec and is considered one of the richest mining regions in the world. The property lies along the Opawica - Guercheville fault zone that has been traced between the former Lac Shortt and Joe Mann Mines. Historical work helped locate a 10km long gold-bearing segment of the fault on the property and in 2010, Cartier validated the potential of the project through a field reconnaissance where results from surface grab samples* produced 5.02 g/t Au, 4.83 g/t Au and 4.08 g/t Au, 2.01 g/t Au, 1.55 g/t Au et 1,16 g/t Au.
"Standard believes that Diego is a great opportunity to help diversify and strengthen our property portfolio," comments Chris Bogart, president and CEO of Standard Graphite. "Acquiring a solid gold asset like this one will ultimately create value to the company while alleviating the risk of being a single commodity explorer".
*Cautionary Note: Grab samples are selective by nature and are unlikely to represent average grades of the occurrence.
Antoine Fournier, P.Geo., is the Qualified Person as defined by National Instrument 43-101 and is responsible for reviewing the technical information presented in this release.
About Standard Graphite
Standard Graphite Corp. is focused 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 through the development of the historic Mousseau East Graphite project.
ON BEHALF OF THE BOARD
Chris Bogart
President & CEO
Cautionary Statement:
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. 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.
Contact
Standard Graphite Corp.
Chris Bogart, President & CEO
(604) 683-2509
(604) 683-2506
info@standardgraphite.com
www.standardgraphite.com