Graphano intersects 6.34% graphite over 11.0 meters near the historical resource area of the LAB Graphite project
Enter Wall Street with StreetInsider Premium. Claim your one week free trial here.
Vancouver, British Columbia–(Newsfile Corp. – July 7, 2022) – Graphano Energy Ltd.(TSXV: GEL) (OTCQB: GELEF) (FSE: 97G0)(“graph“or the”Company“) is pleased to report the results of the last hole of its Phase 1 drilling program on its 100% owned Lac Aux Bouleaux graphite property (“LABORATORY“or the”LAB property“) in Quebec. The LAB property is adjacent to the Lac-des-Iles graphite mine and covers the immediate southern extension of the producing graphite horizons.
Luisa Moreno, President and CEO of the company, said, “We are very encouraged by the drill results from the Phase 1 drill program at LAB and the resource potential indicated in the ‘historic resource area’ defined by Orrwell Energy in the 1980s. Work will continue on the property and we are confident to prove the graphite resources to position Graphano as a potential near-term producer. »
Hole LB22-30 totaling 141.0 meters intersected 6.34% graphitic carbon (Cg) over 11.0 meters at the edge of the historic resource zone established during exploration work by Orrwell Energy Corp. between 1981 and 1983 (see Figure 1). Orrwell Energy completed 79 diamond drill holes totaling 19,550 feet (5,958 meters) and resource estimation work. In 2018, Graphite Energy Corp. also completed four drill holes in this area. Highlights from Graphano’s recent hole and previous drilling by Graphite Energy and Orrwell Energy are shown below.
Highlights (see Table 1 for details):
- Drill hole LB22-30 intersected 6.34% graphitic carbon (Cg) over 11 meters at a drill depth of 106 meters (m), including 9.15% Cg over 4.0 m.
Graphite Energy 2018
- Drill hole LAB18-02 intersected 8.45% Cg over 6.0m at a drill depth of 28.3m
- Hole LAB18-03 intersected 9.26% Cg over 6.77m at 80.13m drilled depth
- Hole LAB18-04 intersected 7.14% Cg over 9.33m at a drilling depth of 97.57m
Orrwell Energy 1981 – 82
- Hole 82-25 intersected 11.67% Cg over 14.66 m at 23.56 m drilled depth
- Hole 82-41 intersected 7.97% Cg over 18.78 m at a drilling depth of 9.57 m
- Hole 82-55 intersected 10.58% Cg over 11.88 m at 3.66 m drilled depth
- Hole 82-70 intersected 13.76% Cg over 9.76 m at 16.76 m drilled depth
(Note: All reported intersections are based on drill width. Actual width will be defined with additional drilling.)
Figure 1 – LAB compilation map (overhead conductors, boreholes and target areas)
To see an improved version of Figure 1, please visit:
Resource estimation work by Orrwell Energy Corp. in 1982 resulted in a historic resource of 1,320,847 tonnes at 9% Cg, i.e. 1,452,932 tonnes at 8% Cg (Source: Douglas Parent 1982, MRNF report GM46736). (Note: A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. The Company does not treat the historical estimate as a current mineral resource or reserve. Historical resources were calculated by block models using different cut-off grades and a specific gravity of 2.76 The Company believes that the historical estimate is relevant for an evaluation of the merits of the property and provides a reliable basis on which to develop future exploration. The Company will need to conduct further exploration which will include drilling to test the Project and there is no guarantee that the results obtained will reflect the historical estimate. Historical estimates should not be relied upon.)
|LAB Graphite Project – Historic Resource Area – Significant Intersections|
|Graphano Energy – 2022 Exploration Drilling|
|Hole No.||Azimuth||Soak||Abscissa||Ordered||From (m)||to M)||Interval A1 (m)||% CG|
|Graphite Energy Corp – 2018 Exploration Drilling|
|Includes a 0.3 m interval that was not sampled, zero slope was used||80.60||82.30||1.70||12.98A2|
|Includes a 0.32 m interval that was not sampled, zero slope was used|
|Orrwell Energy Corp – 1981 and 1982 Drilling|
|Orrwell completed 79 drill holes totaling 5,985 meters on the LAB property. The following are only highlighted intersections. A complete listing of Orrwell’s drill results can be found in Graphano’s NI-43-101 Technical Report titled “Lac aux Bouleaux Graphite Project” and dated July 2, 2021 on Sedar or on the company’s website. .|
|Includes a 1.8m interval that was not sampled, zero slope was used|
|Remarks:||A1The intervals are the length of the core. True width will be defined with additional drilling|
|A2includes an interval that was not graded, so a zero grade was used in the calculation|
|UTM nad 83, zone 18|
Graphite mineralization observed during drilling is hosted in a sequence of paragneiss and recrystallized limestone units. All drill core samples were bagged and tagged according to best practices and delivered to the activation labs (“ACTLABS“), Ancaster, Ontario, for the preparation and analysis of samples using the laboratories 4F-C Graphite code, analyzing C-Graphite (infrared) in which the sample is subjected to an oven treatment at multiple steps to remove all forms of carbon except graphitic carbon; and C-Total (infrared). ACTLABS is an ISO-certified independent commercial laboratory. Core samples also include field duplicates and blanks for quality control and assurance (QA/QC).
The scientific and technical content disclosed in this press release has been reviewed and approved by Mr. Martin Ethier, Go (#1520), who is a Member of the Order of Geologists of Quebec and a “Qualified Person” under Canadian Standard 43- 101, and Afzaal Pirzada, who is a member of the Association of Professional Engineers and Geoscientists of British Columbia with License No. 28657 (OGQ license number 01917).
About Graphano Energy Ltd.
Graphano Energy Ltd. is an exploration and development company focused on the evaluation, acquisition and development of energy metal resources from exploration through production.
Graphite is one of the most demanded technological minerals for a green and sustainable world. The Company’s Lac Aux Bouleaux property, located adjacent to Canada’s only producing graphite mine in Quebec, Canada, has always been an active area for natural graphite. With the growing demand for graphite in some of the largest and most advanced industries, such as lithium batteries in electric cars and other energy storage technologies, the Company is expanding its project to meet the demands of the future. .
ON BEHALF OF THE BOARD OF DIRECTORS
Chairman and Chief Executive Officer and Director
E : [email protected]
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.
Caution Regarding Forward-Looking Statements:
This press release contains certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, included herein, without limitation, relating to future operations – exploration, drilling and other activities of Graphano – are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”. and similar expressions or statements that events, conditions or results “will”, “could”, “might” or “should” occur or be achieved. The forward-looking statements contained in this press release relate to, among other things, the Company’s exploration plans and their impact. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect beliefs, opinions and projections as of the date the statements are made and are based on a number of assumptions and estimates which, while believed to be reasonable by Graphano, are inherently subject to change. significant business, economic, competitive, political and social changes. uncertainties and hazards. Many factors, known and unknown, could cause actual results, performance or achievements to differ materially from the results, performance or achievements that are or may be expressed or implied by these forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. These factors include, but are not limited to, the ability to complete proposed exploration work in light of the global COVID-19 pandemic, exploration results, the continued availability of capital and changes in conditions. general economics, market and business. Readers should not place undue reliance on the forward-looking statements and information contained in this press release regarding these items. Graphano undertakes no obligation to update any forward-looking statements of beliefs, opinions, projections or other factors should they change, except as required by applicable securities laws. We are looking for a safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130163