CKR Carbon Announces Start of Trenching Program at Buckingham
Vancouver, British Columbia--(Newsfile Corp. - November 29, 2016) - CKR Carbon Corporation. (TSXV: CKR) (FSE: CB81) ("CKR" or the "Company"), a graphite development company and operator of the Aukam vein graphite project in Namibia, is pleased to announce that the Company has started a trenching program on its 100% owned Buckingham graphite project in Quebec. The aim of the trenching program is to follow up on anomalies outlined by a recently completed airborne geophysical survey.
The airborne time domain electromagnetic (TDEM) survey flown over the Buckingham project resulted in several anomalies. The largest conductor stretches over 1.54 kilometres in a northeast-southwest direction. The northeastern portion of this conductor is coincident with graphite mineralization in the Case Zone from which 35 grab samples collected in 2015, yielded values ranging from 1.6% carbon as graphite (Cg) to 28.7% Cg (See news releases dated May 22, 2015 and November 4, 2015). The length of the conductor suggests that the Case Zone may be up to 600 metres longer than previously thought.
The trenching program currently underway will test the long TDEM conductor with six trenches from 50 to 100 metres long oriented perpendicular to the conductor axis. A seventh trench, of approximately 100 metres, will test a smaller adjacent conductor. The three trenches completed to date have all uncovered zones of graphite mineralization hosted by paragneiss that will be channel sampled and assayed.
"While CKR remains focused on the Aukam vein graphite project in Namibia, we also intend to investigate diversified sources of high quality graphite," said Roger Moss, CKR Carbon Chief Executive Officer. "Buckingham is one of two other projects that we are currently exploring in this regard."
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 Buckingham Property
The 100%-owned Buckingham Graphite Property is located 7 kilometres northwest of the town of Buckingham, Quebec, Canada and consists of eight claim blocks totaling 480 hectares. Well-maintained bush roads provide easy access to the property. The property lies within the Central Metasedimentary Belt of the Grenville Geologic Province with graphite occurring disseminated in paragneiss and within veins hosted within pegmatite, diopside skarn, marble and gneiss.
Two graphitic zones, the Uncle Zone and the Case Zone have been discovered to date, with both zones showing high grade occurrences of disseminated flake and vein type graphite and yielding assay values as high as 81.1%. Initial crushing and flotation of two samples from the Uncle zone has achieved purity up to 99.4% Cg from a single flotation test without process optimization (see news release dated February 17, 2015).
About CKR Carbon Corporation
CKR Carbon Corp. is focused on high quality, natural graphite suitable for use in lithium-ion batteries, graphite foil, graphene and other value-added high growth technology applications.
CKR's binding Farm Out Agreement with Next Graphite Inc. gives the Company an option to acquire 63% of the Aukam graphite project by meeting certain milestones and making cash payments. It also has the option to buy an incremental 10% of Next's remaining interest in the License subject to agreement by Next.
The Aukam Graphite Project is located on 34,082.15 hectares 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 composite samples taken from the lower three dumps were assayed and averaged 42% Cg. While these composite samples were selected from a much larger screened sample of the dumps, they are not considered representative of the mineralization on the property as a whole.
CKR is currently undertaking studies to support an application for a mining license. The company maintains high safety and environmental standards and has a comprehensive strategy of social engagement. The company is listed on the TSX Venture Exchange under the symbol CKR.
For more information: visit the website at www.ckr-carbon.com or contact:
Roger Moss, CEO, +1 416-704-8291
E-mail inquiries: rmoss@ckr-carbon.com
For graphite product enquiries:
Arno Brand, Boswell Projects, +1 416-561-4095
abrand@boswellprojects.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).