Northern Graphite Concentrates Reach Nuclear Grade Purity
January 22, 2015 (Source: Marketwired) — Northern Graphite Corporation (TSX VENTURE:NGC)(OTCQX:NGPHF) is pleased to announce that concentrates from its Bissett Creek deposit have been successful upgraded to the highest nuclear grade classification level using the Company’s proprietary purification process. Glow Discharge Mass Spectrometry (“GDMS”) analyses demonstrate that Northern’s extra-large flake, +50 mesh concentrates have a carbon content of 99.99+% and an Equivalent Boron Concentration (“EBC”) less than one (1) ppm when purified with the Company’s proprietary process. Purity of 99.97%C and an EBC less than two (2) ppm are required to meet the ASTM Standard Class for high purity nuclear graphite. Northern’s process provides an alternative to expensive thermal purification, the environmentally damaging wet chemical approach used in China, and caustic bake which is a lab scale technique not generally used in commercial applications.
Gregory Bowes, CEO commented that: “concentrates from different graphite deposits vary widely in quality and we continue to get third party validation that flake graphite from the Bissett Creek deposit is among the best in the industry.” He added that “we believe Bissett Creek is the only project to have demonstrated it is economic at current prices and at production rates that are unlikely to adversely affect the pricing structure of the industry. This is largely due to 90% of production being large and XL flake which will result in prices that are much higher, and marketing risks that are much lower, than other projects.”
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About Northern Graphite Corporation
Northern Graphite is a graphite development and battery technology company whose 100% owned Bissett Creek project is located in eastern Canada. Bissett Creek provides the Company with a natural competitive advantage in the battery technology field as it has the highest percentage of battery grade material, the highest reported yield on conversion to anode material for batteries and a pristine, highly ordered crystal structure that has the potential to improve battery performance. The Company is leveraging these advantages with proprietary coating and purification technologies to make better and lower cost anode materials and to replace the damaging environmental practices currently used in their manufacture.
Bissett Creek is the most advanced new graphite project with a bankable Feasibility Study and its major environmental permit. The Company believes that it has the best location/infrastructure, the lowest capital cost and the highest operating margin of any new graphite project. Because of Chinese supply problems and the continued rapid growth in new uses such as lithium ion batteries, new western sources of supply are needed, particularly for large and XL flake graphite.
This press release contains forward-looking statements, which can be identified by the use of statements that include words such as “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “likely”, “will” or other similar words or phrases. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. The Company does not intend, and does not assume any obligation, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking 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 This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>