Alabama Graphite Corp. Releases Latest Drill Results from its Coosa Graphite Project, Alabama
January 23, 2013 (Source: Alabama Graphite) — Alabama Graphite Corp. (the “Company”) (CNSX:ALP) (Frankfurt: 1AG.F WKN A1J35M) is pleased to report assay results from six additional drill holes at the Coosa Graphite Project, Alabama.
All of the current results are from core holes within the 200’ spaced resource definition drill hole grid tested by Major Drilling. Each of the holes were pre-collared though the oxidized zone using a sonic drill, then diamond drilled to a minimum depth a 250’ using a wireline core drill. Only the results from the core below the oxidized zone have been received thus far. The core was logged and sampled at the Company’s facility in Sylacauga and shipped to ALS Minerals in Elko, Nevada, for analysis. The samples were analyzed for graphitic carbon (Cg) by the LECO method.
Results were received from holes AGC-A04C, C04C, E05C, F05C, G07C and G09C. The significant results are tabulated below. Holes A04C, C04C, E05C, F05C were part of an NW-SE transect across the grid. As suspected, holes A04C and C04C did not contain significant mineralized intervals as the quartz-muscovite-biotite-graphite schist (QMBGS) lithologic unit comprised the bulk of the core. Previous drill results suggest that this unit is sub-economic with respect to graphite content. Thick intercepts of the favorable quartz-graphite schist (QGS) unit were seen in the remaining holes. Based the assay results to date holes, it appears that holes southeast of the E-line are within the primary mineralized zone at the Coosa Project.
Below is a table summarizing the significant results from the new drill holes:
|Drill Hole||Area||Total Depth (ft)||From (ft)||To (ft)||Width (ft)||Cg%|
|AGC- A04C||Resource Grid||279.5’||No significant intercepts|
|AGC-C04C||Resource Grid||250’||No significant intercepts|
A map showing the resource grid and drill holes locations can be found on the Company website at http://alabamagraphite.co.
CEO, Daniel Spine comments, “We anticipate continuing to release drill hole assay results on a weekly basis between now and early March. At that point our intention is to hand off the data to Scott E. Wilson Consulting Inc. who we have retained to prepare an initial NI 43-101 complaint resource estimate.”
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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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