SRG Reports on Drill Results
SRG Reports on Drill Results
MONTREAL
,
Oct. 17, 2018
/CNW Telbec/ -
SRG Graphite Inc.
(TSXV: SRG) ("
SRG
" or the
"
Company
") reports today on assay results for 162 new boreholes since announcing mineral
resources last June, bringing the total to 557 boreholes over 18,037 metres ("
m
") drilled at its Lola
Graphite deposit in
Guinea
,
West Africa
. In addition to the planned 2018 exploration program, which
is now completed, management has decided to extend the drill program to take advantage of the
cost-beneficial drill rig the Company has on site. The third phase of the drill program is ongoing with
60 additional boreholes over
3,000 m
completed so far.
Figure 1: Image of the drilling program phases and boreholes (CNW Group/SRG Graphite)
Drill Results Highlights:
Hole LL36-262441:
55.50 m
at 8.92% Cg including
48.00 m
at 10.07% Cg
Hole LL39-139708:
38.05 m
at 8.67% Cg including
23.05 m
at 13.12% Cg
Hole LL42-112057:
49.10 m
at 8.62% Cg including
21.40 m
at 17.61% Cg
Hole LL48-177588:
14.85 m
at 11.38% Cg including
12.85 m
at 12.94% Cg
The current drill-hole results cover approximately 60% of the deposit's surface footprint (see
Figure
1
). To date, only the weathered portion of the deposit has been drilled, representing the first 30
meters from the surface on average. The additional drilling program includes 10 boreholes designed
for testing graphitic carbon ("
Cg
") at depths within the non-weathered rock assemblage below the
graphite-rich surface saprolite.
These drill results should help further understand the reach and depth of the deposit and, provide
additional basis for the mineral resource update to be included in the feasibility study expected for
H1 2019.
The following link (
http://srggraphite.com/pdf/20181015_PR_Drill_Results.pdf
) provides a
compilation of mineralized intervals for the 557 boreholes drilled and analyzed to date. Mineralized
intervals were defined using 1.0% Cg as a cut-off grade ("
cog
"). Composite intervals defined using a
3% cog are also presented.
All boreholes were drilled at an inclination of 50 degrees from the horizontal and cross-cut the
geological succession as perpendicularly as possible. The graphitic paragneiss displays foliation
dipping between 80 and 85 degrees to the west.
Core logging and sampling were performed at the Company's facility in the town of Lola. Sample
preparation was performed by Veritas Laboratory in
Abidjan
, Côte d'Ivoire. Pulp samples were
delivered to Activation Laboratories Ltd.,
Ancaster, Ontario, Canada
. The samples were treated
through a multi-stage furnace process to remove organic carbon and carbonate carbon. The
remaining graphitic carbon was measured as carbon dioxide in the infrared ("
IR
") cell as gas flowed
through the cell.
Carbon
dioxide absorbs IR energy at a precise wavelength within the IR spectrum.
All analyses were performed using Eltra instruments.
The technical information in this release has been reviewed and approved by Dr.
Marc-Antoine
Audet
, PhD Geo., P.Geo, Lead Geologist, SRG, and a "qualified person" as defined by National
Instrument 43-101, Standards of Disclosure for Mineral Projects.
SRG is also pleased to announce that EEM Sustainable Management ("
EEM
"), a Canadian-based
independent environment consultancy company from
Montreal
with significant experience in
Guinea
,
has been selected to revise and update the Lola graphite project's environmental and social impact
assessment to ensure compliance with local and international standards.
ABOUT EEM SUSTAINABLE MANAGEMENT
EEM is an independent consultancy company, helping clients assess, manage, and improve their
environmental performance and social impacts. The company strives to develop and implement
workable solutions for all concerned – at project sites, across businesses, and in local communities.
ABOUT SRG
SRG is a Canadian-based company focused on developing mineral deposits 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.
Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of Canadian securities
legislation. All information contained herein that is not clearly historical in nature may constitute
forward-looking information. Generally, such forward-looking information can be identified by the use
of forward-looking terminology such as "reduce," "suggest," "opportunity," "demonstrate," or
variations of such words and phrases or state that certain actions, events or results "may," "could,"
"would," or "might." Forward-looking information is subject to known and unknown risks,
uncertainties, and other factors that may cause the actual results, level of activity, performance, or
achievements of the Company to be materially different from those expressed or implied by such
forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global
markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk
associated with exploration, development, and operations of mineral deposits; (v) the risk associated
with establishing title to mineral properties and assets; (vi) fluctuations in commodity prices, and
other risks and factors described or referred to in the section entitled "Risk Factors" in the MD&A of
the Company and which is available at
www.sedar.com
, all of which should be reviewed in
conjunction with the information found in this news release.
Forward-looking information is based on assumptions management believes to be reasonable at the
time such statements are made, including but not limited to, continued exploration activities and no
material adverse change in mineral prices. Although the Company has attempted to identify
important factors that could cause actual results to differ materially from those contained in the
forward-looking information, there may be other factors that cause results not to be as anticipated,
estimated, or intended. There can be no assurance that such forward-looking information will prove
to be accurate, as actual results and future events could differ materially from those anticipated in
such forward-looking information. Such forward-looking information has been provided for the
purpose of assisting investors in understanding the Company's business, operations, and exploration
plans and may not be appropriate for other purposes. Accordingly, readers should not place undue
reliance on forward-looking information. Forward-looking information is given as of the date of this
press release, and the Company does not undertake to update such forward-looking information
except in accordance with applicable securities laws.
SOURCE
SRG Graphite
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%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 07:00e 17-OCT-18