Graphite Corp. Reports Over 20% Mineral Grades From Key Assay Results at Montana Property
February 5, 2013 (Source: Marketwire) Nevada — Company Receives Overall Favorable Assay Results From Field Study in Alabama and Montana.
Graphite Corp.(OTCQB: GRPH), an exploration stage company focused on the evaluation, acquisition and development of domestic graphite mining opportunities, is very pleased to announce the results of initial samples from a recent field study on its Alabama and Montana properties.
The study of graphite-bearing mineralization was undertaken at the 3,759.6 acre Carr and Cahaba leases located in Clay County, Alabama and at the approximately 1,700-acre Crystal Graphite property located in Beaverhead County, Montana.
The Alabama samples were consistent with prior observations including historic reports from the U.S., Bureau of Mines. The majority of samples were taken in strongly weathered rocks that are very soft and offer simplified production scenarios due to ease of extraction. The samples were taken from several localities throughout the property and the uniformity of grades over 2% crystalline flake graphite offers very promising economics for scalable production.
In Montana, the >20% samples are significant and very promising with high grades right at surface. The material is amorphous graphite as opposed to the crystalline flake found in Alabama. The incidence of high grade percentages easily supports development efforts aimed at production.
The geological work was led by Company President Brian Goss and Company Director Jason Babcock. The assay work was conducted by INSPECTORATE (A Bureau Veritas Group Company) of Sparks, Nevada. The study included a physical review of the mineral lease areas to include specific details and features of interest.
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Company President Brian Goss states, “We are well pleased by these initial findings. The main point of interest and significance of these samples is that we are actually confirming mineralization and are getting very good numbers while just scratching the surface as far as the evaluation process goes. Right now, we are firmly on-track and looking forward to further evaluation and an economic assessment of what we currently hold. That’s the sort of information we can use to raise more capital in order to fully exploit our strategic plan. I’m really looking forward to seeing how these early results are received, as we believe it translates into a dynamic project scenario for the Company and its shareholders.”
Additional details of the Company’s business, finances, appointments and agreements can be found as part of the Company’s continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission’s (“SEC”) EDGAR database.
Graphite Corp. is a publicly traded Elko, Nevada-based resource exploration stage company focused on the evaluation and development of graphite based deposits within the United States. The Company is positioning itself to emerge as a leading pure-play exploration company through the development of its current strategic land positions in Alabama and Montana straddling the heartland of America’s most significant graphite resources. The Company’s experienced geological team continues to pursue additional prospective graphite, precious metal, and rare earth opportunities to advance and develop into strategic assets that increase shareholder value.
Note Regarding Forward-Looking Statements
This release contains forward-looking statements that reflect the Company’s plans and expectations. In this press release and related comments by Company management, words like “expect,” “anticipate,” “estimate,” “probable,” “believe,” “forecast,” “objective,” “plan,” “goal” and similar expressions including references to historic data are used to identify forward-looking statements representing management’s current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.
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