SRG Graphite Amends its NI 43-101 Preliminary Economic Assessment Report for Lola Graphite Deposit MONTREAL
SRG Graphite Amends its NI 43-101
Preliminary Economic Assessment Report for
Lola Graphite Deposit
MONTREAL
, Sept. 7, 2018 /CNW Telbec/ -
SRG Graphite Inc.
(TSXV: SRG) ("SRG" or the
"Company") reports that it is reissuing its National Instrument 43-101 ("NI 43-101") Preliminary
Economic Assessment study ("PEA") for the development of its Lola graphite project in the Republic
of
Guinea
,
West Africa
.
The cut-off grade for the base case at section 14 of the original NI 43-101 PEA has been modified
to 1.64% from 3%, to be consistent with the rest of the document's data. This change has no impact
whatsoever on any of the numbers or figures provided in the original PEA, including preliminary
economic figures or results.
Also, Mr.
Sivanesan (Desmond) Subramani
, Principal Consultant at Caracle Creek International
Consulting MINRES (Pty) Ltd (CCIC MinRes), an independent qualified person, has confirmed the
work of Dr.
Marc-Antoine Audet
, P.Geo. and SRG's Lead Geologist and taken responsibility for
those sections of the original NI 43-101 PEA for which Dr. Audet was responsible. Mr. Subramani
has rigorously verified the resource model and reapproved the resource estimate without material
changes.
Highlights of the Lola graphite PEA:
Production of 50,200 tonnes of graphite concentrate per year over a 16-year mine life;
Capital costs of
$105 million
("M") including contingency of
$15M
;
Operational costs of
$372
/tonne ("t") of concentrate and
$130
/t of transport;
Pre-tax NPV (8%) of
$204M
(post-tax NPV (8%) of
$121M
) at an average sales price of
$1,328
/t;
Finished grade of over 94% and up to 98% over all size fractions;
Strip ratio of 0.39.
The Amended NI-43-101 Technical Report is available on SRG's website at
www.srggraphite.com
and on SEDAR at
www.sedar.com
.
About Met-Chem/DRA
Met-Chem, a division of DRA Americas Inc., was originally established in 1969 as a consulting
engineering company, headquartered in
Montreal
, and provides a wide range of technical and
engineering services. Met-Chem is well recognized for its capabilities in mining, geology and mineral
processing and has a talented team of engineering, technical and project management personnel
with experience in
North America
,
Latin America
,
Europe
,
West Africa
and
India
. DRA is a
multidisciplinary global engineering group that originated in
South Africa
and delivers mining, mineral
processing, energy, water treatment and infrastructure services from concept to commissioning, as
well as comprehensive operations and maintenance services for the mineral resources, water,
agriculture and energy sectors. DRA has offices in
Africa
,
Australia
,
Canada
,
China
,
India
and
the
United States
.
ABOUT SRG
SRG is a Canadian-based company focused on developing the Lola graphite deposit and the
Gogota cobalt-nickel-scandium deposit located in the Republic of
Guinea
,
West Africa
. SRG is
committed to operating in a socially, environmentally and ethically responsible manner.
For additional information, please visit SRG's website at
www.srggraphite.com
.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE
SRG Graphite
View original content:
http://www.newswire.ca/en/releases/archive/September2018/07/c5610.html
%SEDAR: 00008697E
For further information:
Ugo Landry-Tolszczuk, Tel: +1 (514) 679-4196, Email:
[email protected]; Benoit La Salle, FCPA FCA, Tel: +1 (514) 951-4411, Email:
CO: SRG Graphite
CNW 17:30e 07-SEP-18