Canada Carbon Identifies Additional High Grade Up to 80.1% Cg from Grab Samples at Lump/Vein Miller Mine Project
March 21, 2013 (Source: Marketwire) Oakville, ON — Canada Carbon Inc. (TSX VENTURE:CCB) (FRANKFURT:U7N1) is pleased to announce the results from its second sampling program identifying grades as high as 80.1% cg on its Miller Graphite lump/vein property located approximately 80 kilometres west of Montreal.
The Company’s geologist, Steven Lauzier, OGQ Geo. Stag., recently carried out a site visit to collect additional composite samples. The team directly assessed the visible graphite deposit and extracted a series of new samples taken directly along and into the vein with a chisel and hammer and went to a depth of approximately 30-50mm. These samples were taken from the same general vein area as the first samples (see February 21st, 2013 release). This time, however, as noted the samples were removed directly from the vein. The purpose of this program was to further confirm the grades encountered within the graphitic zone. Based on subsequent lab analysis conducted by Activation Laboratories (Actlabs) of Ancaster, Ontario immediately after collecting the samples using the IR process (Leco), the results confirmed the presence of a high quality lump/vein graphite deposit.
R. Bruce Duncan, Interim President & CEO of Canada Carbon states: “Lump graphite typically has grades from 50% to 95%, with an average grading in the 65% to 80% range. Grades of this sort are not unusual in deposits such as those mined in Sri Lanka”. Mr. Duncan further commented, “High grades such as those assembled this week offer the potential to direct ship product to an upgrade facility with limited primary processing. As the samples were gathered it was clearly evident that the graphite breaks cleanly from the host rock which we believe will make liberation a very simple operation”. The sample results are shown below. All samples were chosen on the vein with the exception of sample A43194 that also contained gangue.
On this second sampling program Mr. Lauzier commented: “The samples were also taken in accordance with appropriate sampling standards including being subsequently properly identified and tagged to ensure a proper chain of custody”. Steven also commented that he is, “Looking forward to his return to the property to search for other graphite veins at the surface of the mine pit as soon as the ground conditions allow broadening the area of review and further expanding the property potential.”
While the vein was clearly visible the next steps is to further quantify the deposit. Observation reveals that the encountered vein and the marble unit are pinched at the surface between a paragneiss and a pegmatite unit and so could widen at depth. Historical records reviewed by the Company indicate that five veins with widths varying between 10 and 60 centimeters were exploited. Once the snow melts it will allow for better sampling and mapping. Exploration efforts should be able to follow the vein extension at depth by walking directly on the vein at the bottom of the pit. As a result of the new information and these past records, the Company has been preparing a full geological program including airborne ground EM surveys, channel sampling, Scanning Electron Microscope (SEM) analysis and a defined drill program scheduled for the spring of 2013. The Company also plans to perform metallurgical tests to determine the potential to further upgrade the new samples.
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Canada Carbon holds 100% interest in five graphite properties: The Asbury, Miller, Walker, Dun Raven and Maria. The Asbury Mine is located north of the Ottawa-Gatineau area. The open pit mine and mill were in operation from 1980 to 1989 where a total of less than 70,000 tons were processed. The Miller mine is located northeast of Ottawa in Grenville Township. This mine was worked around 1845 and was probably the first graphite operation in Canada. It is reported that 25 rail cars of lump graphite were shipped from this deposit in the 1900s. The Walker Mine is a past producer with about 816 tons of graphite extracted from the mine between 1876 and 1920. The mine is located northwest of Buckingham, in Buckingham Township. The Dun Raven graphite deposit is easily accessible a few hours west of Montreal, in Thorne Township. The Maria Graphite Project is located in Maria Township, south of the community of Bissett Creek on the Trans Canada Highway between the cities of Ottawa and North Bay, Ontario. These claims surround and are contiguous to Northern Graphite’s Bissett Creek graphite deposit. Northern Graphite recently reported the extraction of very large high purity flake graphite consistent across the entire resource with overall recovery rates of 97%. (NGC.V News Release 23/04/2012).
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
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