Standard Graphite Initiates Exploration on Mousseau East Property
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/24/12 -- Standard Graphite Corp. (TSX VENTURE: SGH) (the "Company") is pleased to inform its shareholders that work has commenced on its flagship Mousseau East Property. The summer 2012 work program is aimed at qualifying the historic resource to be NI 43-101 compliant and exploring for its potential extensions.
Work on the property began in May of 2012 immediately after its acquisition with a compilation of the historical data in a comprehensive geo-referenced database. Standard Graphite also initiated an airborne Mag - TDEM geophysical survey, conducted by Prospectair Geosurveys, over the entire property that has been completed with the results expected shortly. The area is currently being prospected and mapped geologically to locate additional targets and to gain a better understanding on the geometry of the graphite trends.
In addition, the Company is pleased to report that is has applied and obtained the necessary permits for its upcoming diamond drilling program. The drill program will include; the replication of some of the critical historical drill-holes in order to update the historic deposit to a current NI 43-101 compliant resource, step out drill holes testing known mineralized structures to depth and on strike, and exploratory drill holes. The drill program will commence upon review and completion of the results of the Mag-TDEM survey and the results from the current surface prospecting program.
The Mousseau East Property was acquired by Standard Graphite in April of 2012 (see press release April 24, 2012). It is located some 40 kilometres northeast of the town of Mont-Laurier in northwestern Quebec and within 50 kilometres of Timcal Canada Inc.'s producing Lac-des-Iles Graphite Mine, which is currently the larger of the two producing mines in North America. The Mousseau East Deposit was discovered in 1983 following the emplacement of a new road in the area north of Ste-Veronique, Quebec. Systematic exploration was carried out by Graphicor between 1989 and 1993 and included some 62 diamond drill holes, totaling 4996 metres, allowing for a resource calculation to be conducted. The possibility of initiating a mining operation was evaluated using only a 40-metre-deep open-pit on the main resource of the Mousseau East Deposit.
Antoine Fournier P. Geo., manages Standard's exploration and development programs and is the Qualified Person as defined by National Instrument 43-101. He supervised the preparation of the technical information in this release.
About Standard Graphite
Standard Graphite Corp is focused exclusively on the exploration and development of a large portfolio of flake graphite properties in Canada. The company is rapidly positioning itself as North America's premier pure-play graphite exploration company and it controls 100% interest in 13 highly prospective graphite properties within known graphite districts in both Quebec and Ontario. An aggressive 2012 exploration strategy has commenced and will be implemented by a geologic team with the pedigree of a previous world-class graphite discovery.
ON BEHALF OF THE BOARD
Chris Bogart, President & CEO
Cautionary Statement:
The foregoing information may contain forward-looking statements relating to the future performance of Standard Graphite Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Standard Graphite Corp.'s filings with the appropriate securities commissions.
Neither the 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.
Contacts:
Standard Graphite Corp. - Corporate Information
Chris Bogart
President & CEO
(604) 683-2509
(604) 683-2506 (FAX)
info@standardgraphite.com
www.standardgraphite.com
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