Alabama Graphite Releases Final Results from Trenching at its Coosa Project in Alabama, USA
Vancouver, BC / TheNewswire / January 22, 2015 / Alabama Graphite Corp. ("Alabama Graphite" or the "Company") (TSX-V:ALP) (OTCQX:ABGPF) (FRANKFURT: 1AG WKN: A1J35M) (ISIN# CA0102931080) is pleased to announce that it has received final assay results from a trenching program conducted at its Coosa Project in late 2014. The results identified new targets in Coosa showing some sections averaging over 4% C(g). In addition, the results show the potential of expanding the existing resource.
The purpose of the trenching was both to further evaluate the known resource as well as to test the 'hearts' of the airborne geophysical anomalies that are distinct from the established resource. Bulk samples were also collected for future metallurgical testing.
Trenching was performed by a local excavation contractor although all sampling and logging was conducted by Alabama Graphite personnel. Analyses were conducted by ActLabs of Ancaster, Ontario. Samples were collected on five-foot intervals with the majority of the trenches cut perpendicular to the strike of foliation. In keeping with the Company's environmental commitment, trenches are backfilled and reclaimed after sampling.
Significant results of trenches in the known resource is presented in the table below:
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|Trench ID |Location |Length|Key Interval|Width|Average %
C(g)|
|--------------------------------------------------------------------|
|AGC-14-TR01a|Northern Strat|550’ |0-280’ |280’ |3.12
|
|--------------------------------------------------------------------|
| |Northern Strat| |320-435’ |115’ |3.53
|
|--------------------------------------------------------------------|
|AGC-14-TR01b|Northern Strat|425’ |65-250’ |185’ |2.75
|
|--------------------------------------------------------------------|
| |Northern Strat| |300-425’ |125’ |3.06
|
|--------------------------------------------------------------------|
|AGC-14-TR02 |Northern Strat|475’ |120-260’ |140’ |3.02
|
|--------------------------------------------------------------------|
|AGC-14-TR03a|Northern Strat|150’ |NSV |NSV |NSV
|
|--------------------------------------------------------------------|
|AGC-14-TR03b|Northern Strat|1020’ |695-865’ |170’ |3.34
|
|--------------------------------------------------------------------|
| |Northern Strat| |920-1020’ |100’ |2.96
|
|--------------------------------------------------------------------|
|AGC-14-TR05 |Resource Grid |275’ |0-50’ |50’ |3.03
|
|--------------------------------------------------------------------|
| |Resource Grid | |200-250’ |50’ |2.96
|
|--------------------------------------------------------------------|
|AGC-14-TR07a|Resource Grid |200’ |80-140’ |60’ |3.20
|
|--------------------------------------------------------------------|
|AGC-14-TR07b|Resource Grid |300’ |5-250’ |245’ |3.04
|
|--------------------------------------------------------------------|
|AGC-14-TR08 |Resource Grid |250’ |0-105’ |105’ |3.94
|
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NSV = No Significant Values
Trenching in the new target areas has identified several new areas with significant graphite over substantial widths. The results of these trenches are summarized in the table below:
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|Trench ID |Location |Length|Key Interval|Width|Average % C(g)|
|------------------------------------------------------------------|
|AGC-14-TR04 |Gray Rock |550’ |100-250’ |150’ |2.82
|
|------------------------------------------------------------------|
|AGC-14-TR10a|Roscoe Ridge|100’ |NSV |NSV |NSV
|
|------------------------------------------------------------------|
|AGC-14-TR10b|Roscoe Ridge|100’ |NSV |NSV |NSV
|
|------------------------------------------------------------------|
|AGC-14-TR10c|Roscoe Ridge|300’ |50-120’ |70’ |3.47
|
|------------------------------------------------------------------|
| |Roscoe Ridge| |175-240’ |65’ |3.19
|
|------------------------------------------------------------------|
|AGC-14-TR11 |Fixico Mine |300’ |40-110’ |70’ |4.04
|
|------------------------------------------------------------------|
|AGC-14-TR12 |Fixico Mine |950’ |290-435’ |145’ |2.98
|
|------------------------------------------------------------------|
| |Fixico Mine | |565-680’ |115’ |2.87
|
|------------------------------------------------------------------|
| |Fixico Mine | |720-950’ |230’ |3.16
|
|------------------------------------------------------------------|
|AGC-14-TR13 |Gray Rock |75’ |NSV |NSV |NSV
|
|------------------------------------------------------------------|
|AGC-14-TR14b|Gray Rock |600’ |290-585’ |295’ |2.96
|
|------------------------------------------------------------------|
|AGC-14-TR14c|Holy Schist |410’ |70-145’ |75’ |3.00
|
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| |Holy Schist | |290-410’ |120’ |2.95
|
|------------------------------------------------------------------|
|AGC-14-TR14d|Holy Schist |350’ |55-225’ |170’ |3.81
|
|------------------------------------------------------------------|
| |Holy Schist | |255-350’ |95’ |4.07
|
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|AGC-14-TR16a|Holy Schist |225’ |0-185’ |185’ |2.50
|
|------------------------------------------------------------------|
|AGC-14-TR16b|Holy Schist |225’ |145-225’ |80’ |3.19
|
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|AGC-14-TR17 |Hog Holler |485’ |NSV |NSV |NSV
|
|------------------------------------------------------------------|
|AGC-14-TR18a|Big Flake |275’ |70-175’ |105’ |2.68
|
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|AGC-14-TR18b|Big Flake |300’ |NSV |NSV |NSV
|
|------------------------------------------------------------------|
|AGC-14-TR18c|Big Flake |350’ |180-305’ |125’ |3.09
|
|------------------------------------------------------------------|
|AGC-14-TR19 |Big Flake |225’ |20-140’ |120’ |2.93
|
|------------------------------------------------------------------|
|AGC-14-TR20 |Big Flake |1000’ |635-875’ |240’ |2.80
|
|------------------------------------------------------------------|
|AGC-14-TR21a|Hot Spot |325’ |155-325’ |170’ |3.19
|
|------------------------------------------------------------------|
|AGC-14-TR21b|Hot Spot |125’ |NSV |NSV |NSV
|
|------------------------------------------------------------------|
|AGC-14-TR22a|Secret Spot |175’ |NSV |NSV |NSV
|
|------------------------------------------------------------------|
|AGC-14-TR22b|Secret Spot |340’ |NSV |NSV |NSV
|
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NSV = No Significant Values
The trenching program was the most recent activity as the Company continues to explore its 43,000 acre land position encompassing the Coosa Project area. Previous exploration has included channel sampling, airborne and ground geophysics, and preliminary sonic drilling. The trenching program has defined multiple areas of near-surface graphitic mineralization that represent opportunities to add to the existing resource. It is noted that analysis of previous trenching suggests that trenching systematically underestimates the grade because of accumulation of clays in near-surface samples.
"It should be emphasized that all of these trenches (3ft-6ft deep) are in soft, oxidized rock which is a key attribute of the Alabama graphite deposits," states Ron Roda, President and CEO of Alabama Graphite. "We continue building significant results in this weathered material. We are pleased that many of the best intercepts represent improvements over the published grade of our indicated resource. Combined with our logistical and regulatory advantages in Alabama, the work index established for this oxidized material creates a compelling scenario. We are also confident that the trenching and sonic drilling in the Northern Strat section can be used to expand the Company's existing NI 43-101 resource."
The Company is preparing composite samples for metallurgical testing from some of the key trench intercepts as the next step in the exploration process.
Rick Keevil, P. Geo., a Director of the Company and VP of Project Development, is a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.
About Alabama Graphite
Alabama Graphite Corp.'s mission is to become one of the greenest graphite producers in the world. The Company, through its wholly-owned subsidiary, Alabama Graphite Company Inc., is conducting exploration and development both at its flagship Coosa Graphite Project in Coosa County, Alabama, USA and the recently acquired Bama project in Chilton County, Alabama, USA. These two advanced-stage projects are 100% owned by Alabama Graphite and are on private land. The two projects encompass over 43,000 acres and are located in an area with significant historical production of crystalline flake graphite. The Company has the largest NI 43-101 indicated flake graphite resource in the United States based on drilling 0.18 square miles (0.3% of the total acreage). The Alabama deposits are unique in that a significant portion of the graphite-bearing material is oxidized and has been broken down into an extremely soft rock. Both projects have in place critical infrastructure, are within close proximity to transportation routes and enjoy a hospitable climate allowing for year-round production and delivery. For further information and updates on the Company, please visit www.alabamagraphite.com.
Ron S. Roda
President & Chief Executive Officer
(609) 785-1581
rroda@alabamagraphite.com
www.alabamagraphite.com
Disclaimer for Forward-Looking Information
This press release contains forward-looking information under applicable Canadian securities laws ("forward-looking statements") that are based on the beliefs of management and reflect Alabama Graphite Corp.'s current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current view of Alabama Graphite Corp. with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among other things, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of graphite; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Company's publicly filed documents. Forward-looking statements are also based on a number of assumptions, including that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen breakdowns, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and Alabama Graphite Corp. undertakes no obligation to update forward-looking statements (unless required by law) if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
Alabama Graphite Corp. cautions that the foregoing list of material factors and assumptions are not exhaustive. When relying on Alabama Graphite Corp. forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and assumptions and other uncertainties and potential events. Alabama Graphite Corp. has also assumed that the material factors and assumptions will not cause any forward-looking statements to differ materially from actual results or events. However, the list of these factors and assumptions is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
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