MONTREAL, Oct. 17, 2018 /CNW Telbec/ - SRG Graphite
Inc. (TSXV: SRG) ("SRG" or the "Company") reports
today on assay results for 162 new boreholes since announcing
mineral resources last June, bringing the total to 557 boreholes
over 18,037 metres ("m") drilled at its Lola Graphite
deposit in Guinea, West Africa. In addition to the planned 2018
exploration program, which is now completed, management has decided
to extend the drill program to take advantage of the
cost-beneficial drill rig the Company has on site. The third phase
of the drill program is ongoing with 60 additional boreholes over
3,000 m completed so far.
Drill Results Highlights:
- Hole LL36-262441: 55.50 m at
8.92% Cg including 48.00 m at 10.07%
Cg
- Hole LL39-139708: 38.05 m at
8.67% Cg including 23.05 m at 13.12%
Cg
- Hole LL42-112057: 49.10 m at
8.62% Cg including 21.40 m at 17.61%
Cg
- Hole LL48-177588: 14.85 m at
11.38% Cg including 12.85 m at 12.94%
Cg
The current drill-hole results cover approximately 60% of the
deposit's surface footprint (see Figure 1). To date, only
the weathered portion of the deposit has been drilled, representing
the first 30 meters from the surface on average. The additional
drilling program includes 10 boreholes designed for testing
graphitic carbon ("Cg") at depths within the non-weathered
rock assemblage below the graphite-rich surface saprolite.
These drill results should help further understand the reach and
depth of the deposit and, provide additional basis for the mineral
resource update to be included in the feasibility study expected
for H1 2019.
The following link
(http://srggraphite.com/pdf/20181015_PR_Drill_Results.pdf) provides
a compilation of mineralized intervals for the 557 boreholes
drilled and analyzed to date. Mineralized intervals were defined
using 1.0% Cg as a cut-off grade ("cog"). Composite
intervals defined using a 3% cog are also presented.
All boreholes were drilled at an inclination of 50 degrees from
the horizontal and cross-cut the geological succession as
perpendicularly as possible. The graphitic paragneiss displays
foliation dipping between 80 and 85 degrees to the west.
Core logging and sampling were performed at the Company's
facility in the town of Lola. Sample preparation was performed by
Veritas Laboratory in Abidjan,
Côte d'Ivoire. Pulp samples were delivered to Activation
Laboratories Ltd., Ancaster, Ontario,
Canada. The samples were treated through a multi-stage
furnace process to remove organic carbon and carbonate carbon. The
remaining graphitic carbon was measured as carbon dioxide in the
infrared ("IR") cell as gas flowed through the cell.
Carbon dioxide absorbs IR energy
at a precise wavelength within the IR spectrum. All analyses were
performed using Eltra instruments.
The technical information in this release has been reviewed and
approved by Dr. Marc-Antoine Audet,
PhD Geo., P.Geo, Lead Geologist, SRG, and a "qualified person" as
defined by National Instrument 43-101, Standards of Disclosure for
Mineral Projects.
SRG is also pleased to announce that EEM Sustainable Management
("EEM"), a Canadian-based independent environment
consultancy company from Montreal
with significant experience in Guinea, has been selected to revise and update
the Lola graphite project's environmental and social impact
assessment to ensure compliance with local and international
standards.
ABOUT EEM SUSTAINABLE MANAGEMENT
EEM is an independent consultancy company, helping clients
assess, manage, and improve their environmental performance and
social impacts. The company strives to develop and implement
workable solutions for all concerned – at project sites, across
businesses, and in local communities.
ABOUT SRG
SRG is a Canadian-based company focused on developing mineral
deposits located in the Republic of Guinea, West
Africa. SRG is committed to operating in a socially,
environmentally, and ethically responsible manner.
For additional information, please visit SRG's website at
www.srggraphite.com.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
Forward-Looking Statements
This press release contains "forward-looking information" within
the meaning of Canadian securities legislation. All information
contained herein that is not clearly historical in nature may
constitute forward-looking information. Generally, such
forward-looking information can be identified by the use of
forward-looking terminology such as "reduce," "suggest,"
"opportunity," "demonstrate," or variations of such words and
phrases or state that certain actions, events or results "may,"
"could," "would," or "might." Forward-looking information is
subject to known and unknown risks, uncertainties, and other
factors that may cause the actual results, level of activity,
performance, or achievements of the Company to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to: (i) volatile stock
price; (ii) the general global markets and economic conditions;
(iii) the possibility of write-downs and impairments; (iv) the risk
associated with exploration, development, and operations of mineral
deposits; (v) the risk associated with establishing title to
mineral properties and assets; (vi) fluctuations in commodity
prices, and other risks and factors described or referred to in the
section entitled "Risk Factors" in the MD&A of the Company and
which is available at www.sedar.com, all of which should be
reviewed in conjunction with the information found in this news
release.
Forward-looking information is based on assumptions management
believes to be reasonable at the time such statements are made,
including but not limited to, continued exploration activities and
no material adverse change in mineral prices. Although the Company
has attempted to identify important factors that could cause actual
results to differ materially from those contained in the
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated, or intended. There can
be no assurance that such forward-looking information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such forward-looking
information. Such forward-looking information has been provided for
the purpose of assisting investors in understanding the Company's
business, operations, and exploration plans and may not be
appropriate for other purposes. Accordingly, readers should not
place undue reliance on forward-looking information.
Forward-looking information is given as of the date of this press
release, and the Company does not undertake to update such
forward-looking information except in accordance with applicable
securities laws.
SOURCE SRG Graphite
