Alabama Graphite Accelerates Exploration as Airborne Results Identify Five New Anomalies
May 13, 2014 (Source: Accesswire) — Alabama Graphite Corp. (the “Company”) (TSX-V: ALP) (OTCQB: ABGPF) (FRANKFURT: A1G WKN: A1J35M) (ISIN# CA0102931080) is pleased to announce that it has received the final deliverables from Prospectair Geosurveys on the airborne TDEM / Magnetometer / Radiometric surveys completed in March 2014 on its Coosa Project. Based on these promising results, the Company has elected to accelerate its exploration efforts.
Five new target areas have been identified on its mineral rights that meet the criteria of strong conductivity coupled with weak magnetism. These target areas are all within 1.5 miles (2.5 km) of the previously defined Coosa resource drill grid. Exploration of these new areas will consist of a two-pronged approach using both follow-up ground geophysics and shallow sonic drilling.
Horizontal Loop Electromagnetism (HLEM) surveys will be conducted both over the Company’s existing Coosa resource and each of the five target areas within the coming weeks. The purpose of these surveys is both to confirm the results of the airborne survey and gain better understanding of these newly identified areas with strong TDEM response. Joel Dube of Dube & Desaulniers Geoscience has been retained by the Company to assist in the design of the survey and interpretation of results.
Major Drilling has been selected to conduct a preliminary sonic drilling program of the five target areas to be completed in the coming weeks. The proposed drill sites are in areas immediately accessible and requiring a minimum of surface disturbance. The goal of this drill program is to provide initial samples for both grade and size-sorting analyses. The sonic holes will be cased to allow for eventual deepening in a subsequent core-drilling program.
“Alabama Graphite is faced with the ‘problem’ of having too many high-quality target areas to evaluate,” stated Dr. Douglas Oliver, Vice President of Exploration. “Rather than proceed in a more leisurely fashion, our goal is to expedite the process by moving with both programs simultaneously. In particular, we are pleased that all of these target areas are in close proximity to our Coosa resource where the geology and 3D geometry have been established.”
“Our goal is to be the first low cost, high purity producer and just-in-time supplier of Flake graphite in the United States of America,” stated Ron S. Roda, President and Chief Executive Officer.
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In addition, flotation testing and size-distribution analysis by SGS Labs is continuing on the Coosa resource to gain a better understanding of the graphite quality and flake size. The HLEM survey over the Coosa resource will be used to evaluate adjacent areas that have not yet been drilled. Currently, the resource remains open both along strike and in the down-dip directions.
Rick Keevil, P. Geo., a Director of the Company and VP of Project Development, is a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.
About Alabama Graphite:
Alabama Graphite Corp., through its wholly-owned subsidiary, Alabama Graphite Company Inc., is a graphite exploration and development company whose flagship project “The Coosa Graphite Project” in Coosa County, Alabama encompasses over 40,000 acres located in an area with significant historical production of crystalline flake graphite. The Coosa Graphite project is 100% owned by Alabama Graphite and on private land. The Company’s property has in place critical infrastructure, is within close proximity to transportation routes and a hospitable climate allowing for year-round production. The Company published an inaugural mineral resource estimate in July 2013, which was revised in March 2014, is continuing to define the footprint of the “The Coosa Graphite Project” and will look to start work on the 100% owned “Hearst Graphite Property” in Northern Ontario. For further information and updates on the Company please visit www.alabamagraphite.com.
ALABAMA GRAPHITE CORP.
Ron S. Roda
President & Chief Executive Officer
Neither the TSX venture exchange nor its regulation service provider (as that term is defined in the policies of the TSX venture exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.
Forward Looking Information
This release contains “forward-looking information” within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking information include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company’s business, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.
Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “planning”, “planned”, “expects” or “looking forward”, “does not expect”, “continues”, “scheduled”, “estimates”, “forecasts”, “intends”, “potential”, “anticipates”, “does not anticipate” or “belief” or describes a “goal” or variation 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.
Forward-looking information is based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking information involves known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of graphite; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company’s publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.
The forward-looking information contained in this news release represents the expectations of the company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time.
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