Alabama Graphite Successfully Completes Expanded Sonic Drilling Program at its Coosa Project in Alabama, USA
August 12, 2014 (Source: Accesswire) — Alabama Graphite Corp. (the “Company”) (TSX-V:ALP) (OTCQX:ABGPF) (FRANKFURT: 1AG WKN: A1J35M) (ISIN# CA0102931080) is pleased to announce that it has completed the sonic drilling program at its flagship Coosa Project in Alabama, USA. This work was performed by Major Drilling of Huntsville, Alabama.
The expanded program included a total of 24 sonic holes comprising 1301 feet (396.5m). Graphite was observed in a majority of the sonic cores. Over 80% of the holes were either completely in or contained substantial intervals of graphitic schist. No sulfide minerals were observed in any of the cores, which reached depths of up to 65 feet (19.8m).
The goal of the sonic drilling was to quickly test the upper weathered portion of new target areas identified through the integration of airborne and ground geophysics with surface channel sample results. An emphasis of the drilling was to provide additional information on the oxidized portion of new target areas around the Coosa Deposit. Recent Bond Work Hardness Index testing has confirmed the soft nature of the Coosa deposit in the oxidized zones. Complete assay results are expected to be received within the next couple of weeks and will be made available at that time. These results will be used to plan a more extensive core drilling program expected to begin within the 3rd quarter of 2014.
“We are encouraged by the preliminary sonic drill results that speak to the potential for adding to the oxidized resource at the Coosa Project,” stated Dr. Douglas Oliver, VP of Exploration. “Within our existing resource over 35% of it is oxidized and another 30% is transitional. In contrast, all other North American deposits are completely reduced making them both sulfide-bearing and harder to mill.”
“Given the substantial volumes of oxidized graphitic schist material at the Coosa Project, it makes sense for us to emphasize exploration of this material,” stated Ron S. Roda, President & CEO. In every way imaginable – ease of mining, ease of processing, avoidance of acid-generating sulfide waste, and potential savings in both CapEx and OpEx – preferential mining of the oxidized resource continues to look advantageous and is consistent with our mission to become one of the greenest graphite producers in the world”
All the drill holes were cased with PVC pipe to allow for re-entry with a conventional diamond drill if it is decided to deepen them at a later date. The sonic core was logged and sampled at the Company’s facility in Sylacauga, Alabama. Samples have been shipped to ActLabs of Ancaster, Ontario, for analysis.
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.’s mission is to become one of the greenest graphite producers in the world. The Company, through its wholly-owned subsidiary, Alabama Graphite Company Inc., is conducting exploration and development on its flagship project “The Coosa Graphite Project” in Coosa County, Alabama, USA. The project encompasses over 40,000 acres and is 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 and delivery. 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 information under applicable Canadian securities laws (“forward-looking statements”) 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. Such statements 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.
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. Such factors include, among other things, 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. Forward-looking statements are also based on a number of assumptions, including 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 breakdowns, 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 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 (unless required by law) 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 and assumptions are not exhaustive. When relying on Alabama Graphite Corp. forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and assumptions and other uncertainties and potential events. Alabama Graphite Corp. has also assumed that the material factors and assumptions will not cause any forward-looking statements to differ materially from actual results or events. However, the list of these factors and assumptions 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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