Alabama Graphite Corp. Completes 6,000m Drill Program at its Coosa Graphite Project, Alabama
December 20, 2012 (Source: Marketwire) — Alabama Graphite Corp. (the “Company”) (CNSX:ALP)(FRANKFURT:1AG) (ISIN# CA0102931080) (WKN A1J35M) is pleased to report that it has completed the drill program at its Coosa Graphite Project, Alabama.
Major Drilling completed a total of 66 core holes since operations commenced on September 26th. Twelve of these were in two fences designed to gain an understanding of the local stratigraphy. The remainder of the holes were in drilled at a 61m by 61m spacing in a grid intended to define a resource. In addition, 45 of the holes were pre-collared with a sonic drill in order to improve recoveries through the weathered potion of the holes. At the height of the program Major Drilling had four drills operating at the Coosa Project.
To date, results from nine of the stratigraphic holes have been received. The holes were logged and sampled at the Company’s facility in Sylacauga and shipped to ALS Minerals in Elko, Nevada. The samples were analyzed for graphitic carbon (Cg) by the LECO method. The remaining three stratigraphic holes and 21 of the grid holes have been processed and are awaiting analysis. The final 33 grid holes will be processed in January with complete assay results expected by the end of February.
Below is a table summarizing the significant results from the drill holes (true thickness):
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A map of the grid and cross-sections of the stratigraphic fences can be found on the website at www.alabamagraphite.co
CEO, Daniel Spine comments, “I congratulate both our exploration team and Major Drilling for putting together and completing this drill program in record time. Considering that the Coosa Graphite Project was acquired less than five months ago, we consider our progress as nothing short of amazing. While these drill results are an essential first step, our next hurdle is to process the samples and establish a resource that we can report. We intend to pursue this with the same determination that has gotten us this far, this quickly.”
Dana Durgin, P.Geo., a Qualified Person as defined by National Instrument 43-101 and independent consultant to the Company, 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 of over 40,000 acres located in an area with significant historical production of crystalline flake graphite. For further details go to www.alabamagraphite.co.
THE CANADIAN NATIONAL STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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