Focus Graphite Retains Met-Chem to Complete A Feasibility Study and Mine Closure Plan for Lac Knife Graphite Project
November 4, 2013 (Source: Marketwired) — Focus Graphite Inc. (“Focus” or the “Company”) (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) is pleased to announce it has retained the services of Québec-based Met-Chem Canada Inc. (“Met-Chem”) to complete a Feasibility Study and Mine Closure Plan to bring the Lac Knife graphite project closer to a production decision.
The contract was awarded to Met-Chem following a competitive request for proposal (“RFP”) process where highly qualified national and international engineering firms were invited to tender.
The Feasibility Study scope of work involves a comprehensive review of all project characteristics – from process validation to capital costs, operational costs, and basic engineering leading to the detailed engineering, marketing, environmental, health & safety, and other considerations in order to further validate and integrate the various technical aspects of the project. The Feasibility Study is expected to be completed during the summer of 2014.
With an Environmental and Social Impact Assessment well underway, definition drilling completed, assays received, and recent pilot plant test results in hand, the Company deemed the Lac Knife project ready to move to the feasibility phase.
With the launch of the feasibility study, the Focus development team along with Met-Chem will plan, schedule, and budget the design, construction, and commissioning of this project to bring Lac Knife’s high quality graphite concentrate to the market. The feasibility level of design is intended to provide a higher level of accuracy to the capital and operating costs required to finance, build and operate the mine.
Don Baxter, P.Eng. President and COO of Focus Graphite, stated: “My mandate upon joining Focus is to accelerate the process to bring the Lac Knife development project to a production decision.”
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“Considering the amount of work already completed at Lac Knife, including the recent completion of the Pilot Plant operation with extremely positive results showing large flake concentrate grades reaching 98.3% Ct from an optimized flotation and polishing circuit, it was decided to commence the feasibility study immediately,” Mr. Baxter said.
He added that a full Mine Closure Plan is included in the scope of work in order to have this required step expedited before arriving at a construction decision.
“The first priority of the study will be to plan and schedule tasks to prioritize and initiate de-risking initiatives in order to accelerate the project timeline,” Mr. Baxter said.
About Focus Graphite
Focus Graphite Inc. is an emerging mid-tier junior mining development company, a technology solutions supplier and a business innovator. Focus is the owner of the Lac Knife graphite deposit located in the Côte-Nord region of northeastern Québec. The Lac Knife project hosts a NI 43-101 compliant Indicated Mineral Resource Estimate* of 4.9 million tons grading 15.8% graphitic carbon (Cgr) as crystalline graphite with an additional Inferred Mineral Resource Estimate* of 3.0 million tons grading 15.6% Cgr of crystalline graphite. Focus’ goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. On October 29th, 2012 the Company released the results of a Preliminary Economic Assessment (“PEA”) of the Lac Knife Project which indicated that the project has a very positive potential to become a graphite producer. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus also invests in the development of graphene applications and patents through Grafoid Inc.
* Mineral resources are not mineral reserves and do not have demonstrated economic viability
About Met-Chem Canada, Inc.
Met-Chem Canada Inc. (Met-Chem) is an international consulting engineering company that provides a comprehensive range of technical services, which extend from exploration programs through conceptual and feasibility studies, mine development and production, to facility closure stages within the mining, mineral processing and infrastructure industries. With headquarters in Montreal, Quebec, Met-Chem is a wholly owned subsidiary of UEC Technologies LLC which is part of United States Steel Corporation in Pittsburgh, Pennsylvania. Met-Chem was originally established in 1969, to design and construct the Mount Wright Iron Ore facilities for Quebec Cartier Mining Company. Since then, Met-Chem has been providing expert advice to clients in over 30 countries worldwide involving iron ore, pelletizing, steel, industrial minerals, precious metals, base metals, PGM, bauxite and coal. Met-Chem is a multi-disciplinary engineering company comprised of engineers and technicians in geology, mining, metallurgy and process, civil, structural, mechanical, piping, HVAC, electrical and instrumentation/automation. It also has the necessary support staff in project controls, procurement, estimating, scheduling and administration. Independent of the project scope, Met-Chem provides the project management staff with the autonomy and resources to serve the client in the most effective manner emphasizing client participation in all phases of a project in order to ensure client satisfaction. Met-Chem is committed to conducting its business in an ethical and lawful manner. The reputation of Met-Chem is a valuable business asset, and ethical and legal conduct at all levels of our business is essential for our continued success. Met-Chem achieves and maintains the highest standard of safety & industrial hygiene and committed to delivering projects within cost and on schedule.
The quality management system of Met-Chem is certified under ISO 9001:2008.
This news release has been reviewed by Don Baxter, P.Eng, President and COO of the Company and a Qualified Person under National Instrument (NI) 43-101 guidelines.
Forward Looking Statements – Disclaimer
This news release may contain forward looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company’s expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com Focus Graphite disclaims any intention or obligation to revise or update such statements.
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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