Alabama Graphite Initiates Trenching at its Bama Mine Project in Alabama, USA
Vancouver, BC / TheNewswire / January 27, 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 begun trenching at its past-producing Bama Mine Project in Chilton, County, Alabama.
The purpose of the trenching is to explore the geometry of the graphitic mineralization adjacent to the Bama Mine. In addition, bulk samples will be collected for metallurgical testing. Trenching is seen as a cost-effective means of gaining a better understanding of the local geology.
Trenching is being performed by an excavation contractor although all sampling and logging are conducted by Alabama Graphite personnel. Analyses will be conducted by ActLabs of Ancaster, Ontario. Samples are being collected on five-foot intervals. In keeping with the Company's environmental commitment, trenches will be backfilled and reclaimed after sampling. Thirteen trenches with an aggregate length of 11,800' are planned.
The Bama Mine was one of the most prolific producers in the Alabama Graphite belt. Historic reports suggest that it had one of the highest grades as well as a large proportion of coarse and jumbo flakes. Previous sampling by Company personnel around the historic pit has verified these historic results (see Press Releases dated September 24, 2014, and November 17, 2014).
"Trenching is the logical next step in the Company's efforts to conduct modern exploration at the Bama Mine," states Ron Roda, President and CEO of Alabama Graphite. "We have completed both airborne and ground geophysics around the mine and have done channel sampling around the historic pit. In addition, we have conducted preliminary metallurgical testing. All of our results to date indicate that the Bama Mine is a candidate for resource testing and an evaluation of its economic potential. We look forward to advancing this project quickly."
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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Copyright (c) 2015 TheNewswire - All rights reserved.