Alabama Graphite Contracts Airborne Geophysical Surveys for its Alabama and Ontario Projects
February 27, 2014 (Source: Accesswire) — Alabama Graphite Corp. (the “Company“) (CSE: ALP) (OTC: ABGPF) (FRANKFURT: A1G.F WKN: A1J35M) (ISIN# CA0102931080) is pleased to announce that it has contracted with Prospectair Geosurveys, Inc., to conduct airborne geophysical surveys of both its Coosa Graphite Project in Alabama and the Hearst Graphite Project in Ontario.
The Company has contracted to have airborne Time-Domain Electromagnetic (TDEM), Magnetic (MAG), and Radiometric (SPEC) surveys conducted on its extensive Coosa Project in east-central Alabama. Electromagnetic surveys have long been recognized as the most effective geophysical tool for identifying areas with graphitic mineralization. Magnetic surveys performed in conjunction with the electromagnetic surveys allow for the differentiation of possible sulfide mineral conductors. Finally, the reported correlation between uranium and vanadium minerals with graphite in the Alabama graphitic schist belt suggests that radiometric surveys may also be a valuable tool. Prospectair will also conduct TDEM and MAG of the Hearst Graphite Property in Ontario, which is located 35 km east of Zenyatta Venture’s Albany Hydrothermal Graphite Deposit.
“Surveys of both properties are expected to be completed by mid-March,” said Ron S. Roda, President of the Company. The results from the airborne surveys will be used in conjunction with existing data to guide future exploration and metallurgical work at both projects.
Prospectair Geosurveys, Inc. is a company specialized in airborne geophysical surveys. Based in Gatineau, Quebec, it has provided exploration services to the mineral exploration sector since 2002. Prospectair has been the surveyor of choice for a number of projects in the graphite sector.
About Alabama Graphite:
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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 is located in an area with significant historical production of crystalline flake graphite. The Company published an inaugural NI 43-101 in September of 2013. With the recent closing of a CAD$2,100,000 financing, the Company is focusing efforts on continuing to define the footprint of “The Coosa Graphite Project” and 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.
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT 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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