Applied Graphite Reports Initial Geophysical Survey Results at the Queens Mine Complex
Applied Graphite Reports Initial Geophysical
Survey Results at the Queens Mine Complex
VANCOUVER, BC
,
Sept. 19, 2024
/CNW/ -
Applied Graphite Technologies Corp.
("AGT")
(TSXV: AGT) (OTCQB: AGRTF), is pleased to report successful results from the geophysical
survey that is currently underway on the Queens
Mine Complex
(QMC) in
Sri Lanka
.
The preliminary geophysical survey results, from the first line, revealed three significant anomalies.
One anomaly is located between the 165-185 meter-section along the profile, with a chargeability of
approximately 400 mV/V. The second significant anomaly is located between the 12–30-meter
sections along the profile, with a chargeability of about 350 mV/V. The third one is located between
100 and
125 m
and seems to develop below the actual limit of detection of
60 m
. All show significant
extension below 60 metres. The electrode spacing is being widened to allow for depths of 300
metres or more. High chargeability, when combined with low resistivity, provides a strong
geophysical signature for graphite exploration. The survey line was run over 300 metres, degrees off
perpendicular to the known orientation of the graphite veins. Thus, an indication that the three
anomalies may correspond to three graphite mineralized zones or swarms of graphite veins similar
to the nearby Kahatagaha graphite mine, which has 32 vein systems, currently mining at
600m
. The
initial profile will be extended to the NNE to totally delineate the first conductive anomalies. The
geophysics will now be plotted in 3D to locate the vertical graphite veins. Graphite is very
conductive, so modern geophysics is a very useful tool to map the veins to depth.
"I am pleased to see the immense success of the initial results as we are introducing new methods
in detecting graphite veins in
Sri Lanka
" said
Don Baxter
, CEO. "With the combination of data from
the LIDAR survey taken of the entire QMC area a few months ago which gave us a baseline to build
our geologic models, and the current successful geophysical results, we are provided with valuable
information to improve the Company's understanding of this priority target area. As we continue to
run additional lines, with electrode spacing wide enough to reach a depth of at least 300 metres, we
look forward to further understanding the enormous potential of the Queens
Mine Complex
."
Inverted Chargeability Section 1 (CNW Group/Applied Graphite Technologies Corporation)
Graphite veins exhibit chargeability due to the unique electrical properties of graphite and its
interaction with the surrounding rock. Graphite's high conductivity and polarizability result in a
pronounced high chargeability anomaly when subjected to an electric field, as it easily facilitates
electron movement and temporary charge storage. This high chargeability contrasts sharply with the
lower chargeability of the surrounding rocks. During the geophysical survey, electrodes are arranged
in configurations along survey lines, and an electrical current is injected into the ground. The voltage
decay rate is measured and processed to create subsurface models of chargeability and resistivity.
High chargeability zones, especially when correlated with low resistivity, indicate the presence of
graphite veins. These anomalies are further interpreted using cross-sections and pseudo sections.
The survey results are compared with surface geological maps, and high chargeability zones are
targeted with drilling to confirm the presence, grade, and continuity of graphite. This approach
ensures accurate identification and delineation of graphite veins, leveraging the distinct chargeability
response of graphite in geophysical surveys.
Figure 1: Existing adit with exposed graphite (CNW Group/Applied Graphite Technologies
Corporation)
Figure 2: Close up of exposed vein in adit (CNW Group/Applied Graphite Technologies Corporation)
About Applied Graphite Technologies
Applied Graphite Technologies is developing the Queens
Mine Complex
in Sri Lanka. The QMC is on
private land in the heart of the vein graphite district, with historical workings and vein graphite
outcrops. Vein graphite is naturally high grade (+95% carbon content in the ground) and does not
require primary processing. Testing of vein graphite in lithium-ion battery anodes has shown very
high capacities, performing better than synthetic graphite. Natural vein graphite has a far superior
ESG footprint than synthetic and is cheaper without compromising performance.
The technical information in this news release has been prepared by Dr.
Christian Derosier
, P. Geo.,
M.Sc., D.Sc.., a "qualified person" as defined in National Instrument 43-101 Standards of Disclosure
for Mineral Projects ("
NI 43-101
").
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
.
This news release contains forward-looking information as such term is defined in applicable
securities laws, which relate to future events or future performance and reflect management's
current expectations and assumptions. The forward-looking information includes statements about
Applied Graphite Technologies (AGT)
's plans. Such forward-looking statements reflect
management's current beliefs and are based on assumptions made by and information currently
available to
AGT
, including the assumption that approvals will be obtained. Investors are cautioned
that these forward-looking statements are neither promises nor guarantees and are subject to risks
and uncertainties that may cause future results to differ materially from those expected. Risk
factors that could cause actual results to differ materially from the results expressed or implied by
the forward-looking information include, among other things, an inability to access financing as
needed.
AGT
cautions the reader that the above list of risk factors is not exhaustive. Except as
required under applicable securities legislation, AGT undertakes no obligation to publicly update or
revise forward-looking information.
SOURCE
Applied Graphite Technologies Corporation
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For further information:
Additional Information: Michelle Borromeo, Investor Relations,
[email protected], +1 (778) 742-5515, www.appliedgraphite.com
CO: Applied Graphite Technologies Corporation
CNW 07:00e 19-SEP-24