Saint Jean Carbon Bolsters Graphite Holdings
OAKVILLE, ONTARIO--(Marketwired - Jul 6, 2016) - Saint Jean Carbon Inc. ("Saint Jean" or the "Company") (TSX VENTURE:SJL), a carbon science company engaged in the exploration of natural graphite properties and related carbon products, is pleased to announce the arm's length acquisitions of 34 additional graphite mining claims in the southwestern region of Quebec, in the historical graphite mining district of Buckingham, referred to as the Clot mine and the Walker mine.
Paul Ogilvie, CEO, commented: "As the Company continues to build out the business model of supplying a blended graphite product from many different mine sites; the need for many more graphite mining claims will become increasingly important in the future. So far we have blended materials for lithium-ion batteries, graphene and diamagnetic products. The results must have a matching DNA in every production run; meaning you can't change the material signature every time you supply a battery manufacturer. The graphite works with the lithium as a balanced and engineered chemistry. We believe it is important to add key properties with possibly high grades and very high quality whenever the opportunity arises."
The Clot Graphite Project: The property is located, in Joly Township, about 150 km northwest of Montreal. At present it consists of five (5) claims which covers an area of about 297.35 hectares (ha) (735 acres); three (3) additional claims in demand which will be transferred to the Company as soon as the M.E.R.N.Q., has approved the attribution. The Clot graphite property has been the subject of a series of artisanal mining efforts since the early part of the 20th Century. Over the course of those efforts approximately 1,000 tonnes of lump graphite have been mined and shipped to customers in Canada and the US. The geographic area within which Clot exists, has been the subject of a broad range of graphite developments. These include projects such as the Asbury Mine in Notre-Dame-du-Laus and the Lac-des-Iles Mine south of Mont-Laurier.
The Walker Graphite Project: The Property is located 7.9 kilometers northwest of Buckingham, in Buckingham Township. It includes 15 claims from 60.12 ha to 60.14 ha for a total of 902 ha. The site is easily accessible by main roads and bush trails. The Walker Mine is a past graphite producer with about 816 tonnes of graphite extracted from the mine between 1876 and 1920. There are more than 30 pits reported on the past producing sector (not all included on this property). The Company acquired from a prospector, eleven (11) claims totalling an area of 661.54 ha (1634.64 acres) covering the north-east extension of the favorable graphitic formation. Effectively, four drill holes bored in 1986 on the east side of rivière du Lièvre gave the following historical results:
Hole 86-45: returned 9.10% Gp over 3.7 meters;
Hole 86-40: returned 10.9% Gp over 2 meters;
Hole 86-37: returned 8.30% Gp over 6 meters;
Hole 86-38: returned 9.0% Gp over 8 meters.
Also, the new addition covers the historical Ruisseau McGuire graphite mine as well as the historical Gorman Feldspar mine. This last was discovered in 1922 and produced about 45 short tonnes of potassic feldspar crystals. The Whitfield feldspar mine was exploited in 1925 and produced about 100 tonnes of pink feldspar
The Company hopes to release the results of the electromagnetic fly over of Walker and Bell graphite projects on Monday the 11th of July 2016.
Christian Derosier, P.Geo., PhD., is the qualified person (QP) as defined in National Instrument 43-101 and, acting on behalf of Saint Jean Carbon, has reviewed and approved the technical content of this news release.
The terms of the acquisitions as follows; the Company with issue collectively 4,250,000 share divided over four individual claim holders in varying amounts, and pay a .75% (OCR) operational cost royalty. The agreements are subject to TSX-V approval and are expected to close on or before July 31st 2016.
About Saint Jean Carbon
Saint Jean is a publicly traded carbon science company, with interest in graphite mining claims in the province of Quebec in Canada. For the latest information on Saint Jean's properties and news please refer to the website: http://www.saintjeancarbon.com/
On behalf of the Board of Directors
Saint Jean Carbon Inc.
Paul Ogilvie, 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, within the meaning of applicable securities legislation, concerning Saint Jean's business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "intends" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
These forward-looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. The forward-looking statements in this news release assume, inter alia, that the conditions for completion of the Transaction, including regulatory and shareholder approvals, if necessary, will be met.
Although Saint Jean believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that these expectations will prove to be correct.
Statements of past performance should not be construed as an indication of future performance. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement.
All of the forward-looking statements made in this press release are qualified by these cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and Saint Jean assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws.