CKR Carbon Update on Recent Activities and Future Plans
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 15, 2016) - CKR Carbon Corp. ("CKR" or the "Company") (TSX VENTURE:CKR)(FRANKFURT:CB8)(OTC PINK:CBULF) is pleased to announce an update on recent activities and plans through early 2016.
The company's main focus recently has been on the Aukam vein graphite project in southern Namibia. Aukam is a past producer that mined graphite over 34 years between 1940 and 1974, mostly to supply South African industry. Historical mining took place in an open pit and a series of adits, the largest of which is the lower adit. CKR and Boswell Projects (a consultant to CKR) have conducted a preliminary survey of the adit as well as limited mapping that has identified the location of several well mineralized structures that are believed to continue down dip.
The high-quality, vein-type graphite at Aukam occurs as veins and disseminated mineralization within a shear zone that historic reports, recovered from libraries in South Africa, indicate extends for over 4km along an east-west trend, before going undercover in the east. The historic reports also describe graphite lenses within an apparent pipe-like alteration halo.
The Company has completed initial reconnaissance mapping of the immediate area around the old workings. Graphite veins observed both at surface and underground parallel the foliation of the hosting shear zone. However, a set of veins perpendicular to foliation were also noted, suggestive of a much broader network. In total 19 graphite occurrences, both veins and disseminations, have been identified at surface over a distance of approximately 430 metres, a maximum width of 110 metres and a vertical height of approximately 130 metres. Most of the occurrences are hosted within clay-altered granite and are typically associated with hematite alteration.
During the first quarter, the Company intends to carry out a bulk sampling program whereby 3,000 tonnes of material from the dumps will be screened and sorted to produce a product that will be shipped to a toll mill, to test the response of the Aukam material to full scale processing and the type of product it can generate.
Concurrently with the bulk sampling program, the Company plans to follow up the early results of the mapping with an electromagnetic survey in order to confirm the location of known graphite occurrences and to test for extensions along strike under cover to the east and to the west. Mapping and prospecting will also be extended along strike to the west in areas of outcrop. The results of the exploration will be used to plan a drill program to test for additional graphite.
The Company further announces that it has settled a total of $25,163.71 of debt (the "Debt") with a creditor that is at arm's length to the Company (the "Debt Settlement"). The Company has settled the Debt by issuing an aggregate of 314,500 Shares at a deemed price of $0.08 per Share to the creditor.
The debt Settlement has been approved by the board of directors and is subject to TSX-V approval.
The Company announces it has set 200,000 options at a price of $.10 for a director of the Company in accordance with the Company's stock option plan.
The technical content of this news release was approved by Roger Moss, Ph.D., P.Geo, a qualified person as defined by National Instrument 43-101.
About the Aukam Project
CKR has an option to acquire an initial 63% in the Aukam graphite project from Next Graphite. The project is located on 96,000 acres in southern Namibia close to the port city of Luderitz. The property hosts three underground adits which were mined periodically between 1940 and 1974. Five dumps from the historical mining occur on the property and 73 samples from the lower three dumps were assayed and averaged 42% Cg.
About CKR Carbon Corporation
CKR Carbon Corp. is focused on high quality natural graphite suitable for use in lithium-ion batteries and graphite foil. We only select projects requiring small capital and a short time to market. The company is listed on the TSX Venture Exchange under the symbol CKR and has 23.7 million shares outstanding.
For more information: visit the website at www.ckrcarbon.com.
"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).
Contact
CKR Carbon Corp.
Roger Moss
CEO
+1 416-704-8291
info@ckrcarbon.com
www.ckrcarbon.com
For graphite product enquiries:
Arno Brand
Boswell Projects
+1 416-561-4095
abrand@boswellprojects.com