Goldcore Clarifies Building of Test Sample Lithium Ion Batteries
2200 – 1250 Rene Levesque Blvd. Montreal, QC, H3B 4W8 #1100 - 1111 Melville Street, Vancouver, BC, V6E 3V6 Phone: (438) 469-0705 Phone: (604) 343-7740
EMail: [email protected]/ Website: www.goldcoreresources.com
Goldcore Clarifies Building of Test Sample Lithium Ion Batteries
February 8th, 2021, VANCOUVER, B.C. Goldcore Resources Ltd (TSX-V: GEM, FSE: BK2P, WKN: A2QENP) (“Goldcore” or the “Company”) wishes to clarify and expand upon aspects of its News Release dated February 4th, 2021, specifically statements regarding the use of graphite from the company's Berkwood Graphite Project (previously called the Lac Guéret South Project) to construct several sample lithium ion batteries. The Company is supplying graphite from its Berkwood Graphite Project to ProGraphite GmbH, (“ProGraphite”) one of the world's leading private graphite research and development laboratories located in Germany, to construct battery anode components for the referenced test batteries. The graphite being supplied to ProGraphite has been sourced by the company from drill core and channel samples collected by the Company during its exploration drilling and sampling campaigns at the Berkwood Graphite Project over the past 4 years.
The Company, has not as yet, defined a reserve on the project, and that there is no certainty that the Company will define a reserve on the property; nor has the Company produced a PEA or feasibility study to support a prospect of Project development, nor any other economic study to support the potential for economic production of graphite from the project. Project resource information is defined by the Company’s Technical Report that references pit constrained mineral resources at its Berkwood Project (please refer to the News Release of August 19, 2019, and to the technical report as filed on SEDAR and available at https://berkwoodresources.com/wpcontent/uploads/2019/08/ReportFINAL.pdf ). At the request of IIROC the Company retracts the earlier News Release statements that: “This environmentally friendly process will allow Goldcore to produce battery grade graphite using a clean energy process" and "Not only is Berkwood graphite providing a clean energy alternative to the manufacture of electric vehicles but it is being done so within North America" as it is presently unknown whether the Company will achieve its goal of developing a commercial graphite mine at the Berkwood project.
The Company also wishes to clarify that test results by ProGraphite has previously demonstrated that a sample of Berkwood sourced Graphite is readily purified to 99.95% using a standard alkaline process instead of using environmentally dangerous Hydrofluoric Acid, which is currently how the majority of the world’s battery graphite is purified.
The Company also wishes to clarify that although purification to 99.95% using a standard alkaline process is cleaner than using Hydrofluoric Acid it is presently unknown whether the Company can commercialize this process and achieve its goal of developing a commercial graphite mine at the Berkwood Project.
CEO Tom Yingling states: “The Company is focusing on testing and demonstrating the distinct high grade, quality and coarse flake size-distribution of the Berkwood Project graphite by testing it in applications that may demonstrate its possible commercial attractiveness. Tests undertaken to date have shown excellent expandability characteristics, ready amenability for purification to 99.95% using a standard alkaline process, and that a high proportion of large flake graphite that is amenable to spheroidization is present. The work being undertaken to better characterise the graphite at the Berkwood Project is regarded by the Company as an approach that will best justify the investment in future resource and economic studies to advance the Project.”
Qualified Person: Mr. Dave Kelsch, P.Geo. is a Qualified Person (“QP”) as defined by National Instrument 43-101 guidelines, and he has reviewed and approved the technical content of this news release. The Board and Management of Goldcore wish to record our condolences to the family of Mr Ed Lyons, QP and advisor on the Berkwood Project from its discovery until his passing in December, 2020. Ed’s contribution to the project is deeply appreciated.
About the Company: Goldcore Resources is managed by a team with over 150 years collectively with a proven track record of not just finding numerous mines but building and operating them too. The Goldcore management team’s recent success includes the discovery of the Berkwood Graphite resource in Northern Quebec. Goldcore owns this asset 100 percent and the Company’s shareholders will benefit from this asset as the demand for Graphite for electric vehicles increases significantly.
On Behalf of the Board of Directors
Goldcore Resources Ltd.
‘Thomas Yingling’
President, CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations:
or 1-604-343-7740
[email protected] www.goldcoreresources.com
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.
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.