Alabama Graphite Begins Field Program on the Five New Anomolies Found on its Coosa Graphite Project, Alabama, USA
May 28, 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 finalized plans for advancing its flagship Coosa Graphite Project in Alabama, USA. The work is intended to move the project forward on multiple fronts prior to the commencement of a Preliminary Economic Assessment (PEA) later in 2014.
A ground geophysical team will deploy techniques showing the most precision in delineating the previously announced, five new anomalies discovered on the Coosa project. These techniques will allow us to further define drill targets. The work is scheduled to commence in early June.
A sonic drilling program will operate in lockstep with the ground geophysical program. Negotiations with the surface owner are in the final stages and the plan is to have the drill operating in early June. By having the ability to test geophysical results as they are received will facilitate the rapid evaluation of geophysical techniques and will allow the program to react quickly to new data.
As the drilling program begins, the on-going surface sampling program will be wound down. Samples are currently being processed by ActLabs of Ancaster, Ontario. The Company expects to receive results in early June.
The services of a consulting geologist have been retained to assist in negotiating surface use agreements. Getting access agreements with the surface owners is a key step in the program and the addition will allow the technical staff to better focus on exploring the extensive Coosa Project area.
In addition, metallurgical testing of both the existing resource and new target areas is continuing. SGS Canada is the principal investigator of flake-size distribution and purity studies.
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“The next few months are critical in defining that we have a best-in-class resource,” stated Ron S. Roda, CEO of Alabama Graphite. “Given that this is the same group of professionals that went from zero to an NI 43-101 defined resource in ten months, we are confident in their ability to deliver in a timely manner. In fact, we fully expect they will provide us with some pleasant surprises over the next few months.”
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
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect Alabama Graphite Corp.’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of Alabama Graphite Corp. with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and Alabama Graphite Corp. undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
Alabama Graphite Corp cautions that the foregoing list of material factors is not exhaustive. When relying on Alabama Graphite Corp. forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Alabama Graphite Corp. has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
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