Great Lakes Graphite Acquires Additional Claims Contiguous with Lochaber Graphite Project
September 29, 2014 (Source: Newsfile Corp) — Great Lakes Graphite Inc. (TSXV: GLK) (“Great Lakes” or the “Company“), announces today that it has staked an additional 12 claims contiguous with the main block of claims included in the Company’s Lochaber Graphite Project in southwestern Québec.
The Lochaber Graphite Project comprised 151 mineral claims, in four contiguous blocks, covering 9,062 ha in Buckingham and Lochaber Townships. The Company is earning a 100% interest in the property as per an option and purchase agreement with Rock Tech Lithium Inc. The new claims add an additional 720 ha to the Project area.
CEO Paul Gorman commented “The additional claims that the Company has staked are on trend with the mineralization that is the focus of our ongoing resource estimate. Given the positive results from beneficiation and graphite-flake classification studies that Great Lakes announced last week, we moved quickly to add these claims to our land package.”
The Lochaber Graphite Project, considered highly prospective for large flake, crystalline graphite, has an historical record of exploration and production. Numerous flake graphite occurrences on the property are some of the oldest graphite showings in Canada, having been discovered in the late 1800s and early 1900s. There are four historical graphite occurrences (the “MacLaren”, “Kelly North”, “Kelly South” and “Burke” showings) and two past producing graphite mines (the “Mayo” and “Plumbago” mines) located within an area of 16 km2 on the main claim block. In light of the Company’s focus in this part of Lochaber Township, Great Lakes has made the decision to not proceed with an option agreement to acquire a 100% interest in certain other claims in Lochaber Township; the Company considers these other claims to have a lower potential for exploration success. This particular option had been in effect since 2012.
John M. Siriunas, P.Eng, VP of Exploration for the Company and a “Qualified Person” under National Instrument 43-101, has reviewed and approved the technical content of this press release.
About Great Lakes Graphite: Great Lakes Graphite Inc. is an industrial minerals company with the mandate to bring graphite projects to production through the acquisition and development of high quality graphite flake properties. Graphite has moved to the forefront of the Industrial Mineral World as a Critical Mineral required for industrial use and as a major component in the development of new technologies particularly with the advancement of battery storage, mobile battery systems and alternative energy infrastructure.
As there are currently no graphite mines producing in North America, Great Lakes Graphite has the ability to become one of the first producers to supply a growing regional customer base that requires high quality flake graphite, where pricing and demand continue to rise.
The Company, through strategic acquisitions and capable management intends to become a leader in the industrial minerals marketplace. The Company’s graphite properties are located in the Buckingham and Lochaber Townships of southwestern Québec. The Company has also entered into option and joint venture agreements with Eloro Resources Inc. on the Summit-Gaber property located in the La Grande Greenstone Belt in the James Bay region of Québec. Further information regarding Great Lakes can be found on the Company’s website at: www.GreatLakesGraphite.com.
Great Lakes Graphite trades with symbol GLK on the TSX Venture Exchange and currently has 60,764,819 shares outstanding (90,699,322 fully diluted).
For more information, please contact:
|Paul A. Gorman, CEO||First Canadian Capital Corp.|
|Great Lakes Graphite Inc.||Tel: 416-742-5600|
|Tel: 416-768-6101||Toll-free: 1-866-580-8891|
|Email: pgorman@GreatLakesGraphite.com||Email: info@FirstCanadianCapital.com|
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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