Graphano Commences Spring Exploration Program at Standard and Lac Aux Bouleaux Graphite Projects
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Graphano Commences Spring Exploration Program at Standard
and Lac Aux Bouleaux Graphite Projects
Vancouver, BC, April 25, 202 3, Graphano Energy Ltd. (the Company”) (TSX -V: GEL; OTCQB:
GELEF; FSE: 97G0) is pleased to announce the start of the 2023 spring exploration program at the 100%
owned Lac Aux Bouleaux Graphite (“LAB”) and Standard properties in Quebec.
Luisa Moreno, Chief Executive Officer of the Company, stated: “Following the successful winter drilling
program, we are excited to return to LAB and Standard to expand the prospecting work and determine new
targets for the summer drilling program . This program will support our ongoing efforts to define initial
mineral resources at both properties .” Dr. Moreno continued, “Benchmark Minerals Intelligence
published their recent findings on January 11, 2023, on graphite that is used for the anodes of the batteries
stating ‘Demand for anodes grew by 46% in 2022, compared to a 14% growth in supply for flake graphite.
In 2022, the lithium-ion battery anode market became the biggest end -market for natural flake graphite,
overtaking the traditional industrial applications including refractory and foundry industries, which will
see graphite market fundamentals and pricing increasingly be controlled and guid ed by the battery
market.’1 The EV market will drive greater demand.”
During the last drilling program, approximately 2,800 metres (“m”) were drilled at the LAB (Zone 3) and
Standard properties. Most of the holes were shallow (less than 60 m) to test the immediate depth and
thickness of the graphite mineralization that was exposed during trenching. Below are the key highlights of
the drilling results.
Zone 3 Key Highlights
➢ Drill Hole LB22-33 intersected 6.26% graphitic carbon (Cg) over 13.7 m starting at 14.0 m drilled
depth, including 11.95% Cg over 4.7m at 14 m;
➢ Drill Hole LB22-45 intersected 9.09% Cg over 8.0 m at 68 m;
➢ Drill Hole LB22-52 intersected 7.17% Cg over 9.0 m at 36 m;
Standard Key Highlights
➢ Drill Hole ST23-10 intersected 5.11% graphitic carbon (Cg) over 20.5 m starting at 39.0 m drilled
depth, including 6.7% Cg over 9.0 m at 41 m;
➢ Drill Hole ST23-11 intersected 7.44% Cg over 13.0 m at 31 m;
➢ Drill Hole ST23-13 intersected 8.99% Cg over 11.3 m at 4.2 m, and 7.65% Cg over 13 m at 56 m;
➢ Drill Hole ST23-05 intersected 5.79% Cg over 14.0 m at 4.6 m; and
➢ Drill Hole ST23-07 intersected 5.5% Cg over 8.5 m at 17 m
(Note: All intersections reported are based on drilled width and have not been converted to the true width).
1 Source: https://source.benchmarkminerals.com/article/what-to-expect-for-graphite-in-2023
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Zone 3 is one of the eight target areas identified from the 2015 airborne high-resolution magnetic (MAG)
and time-domain electromagnetic (TDEM) survey completed on the LAB property. Given the strong drill
results obtained, this spring exploration program will focus again on Zone 3 and investigate the possible
expansion of the zone primarily towards the no rth with surface trenching, sampling and geological
mapping. At the Standard Mine project, similar work will be completed to expand the drilled graphite zones,
which remain open in all directions prior to a planned second phase of diamond drilling. The graphite
mineralization observed during the drilling is hosted within a sequence of marble, paragneiss and quartzites.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Mr. Martin Ethier, Géo
(#1520), who is a Member of the Order of Geologists of Québec and a “Qualified Person” under N ational
Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), and Roger Dahn, B.Sc.,
P.Geo., a director of the Company and a “Qualified Person” as defined in NI 43-101.
About Graphano Energy
Graphano Energy Ltd. is an exploration and development company that is focused on evaluating, acquiring
and developing energy metals resources from exploration to production.
Graphite is one of the most in -demand technology minerals that is required for a green and sustainable
world. The Company’s Lac Aux Bouleaux property, situated adjacent to Canada’s only producing graphite
mine, in Quebec, Canada, has historically been an active area for natural graphite. With the demand for
graphite growing in some of the most prominent and cutting -edge industries, such as lithium batteries in
electric cars and other energy storage technologies, the Company is developing its project to meet the
demands of the future.
ON BEHALF OF THE BOARD OF DIRECTORS
Luisa Moreno
Chief Executive Officer and Director
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.
Cautionary Note Regarding Forward-Looking Statements:
This news release contains certain “forward -looking information” and “forward -looking statements”
(collectively “forward-looking statements”) within the meaning of applicable securities legislation. All
statements, other than statements of historical fact, included herein, without limitation, are forward-looking
statements. Forward -looking statements are frequently , but not always, identified by words such as
“expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar
expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur
or be achieved. Forward -looking statements in this news release relate to, among other things, the
commencement of the spring exploration program. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ materially from those anticipated in
such statements. Forward-looking statements reflect the beliefs, opi nions and projections on the date the
statements are made and are based upon a number of assumptions and estimates that, while considered
reasonable by Graphano, are inherently subject to significant business, economic, competitive, political
and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual
results, performance or achievements to be materially different from the results, performance or
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achievements that are or may be expressed or implied by such forward-looking statements and the parties
have made assumptions and estimates based on or related to many of these factors. Such factors include,
without limitation, risks associated with possible accidents and other risks associated with mineral
exploration operations, the risk that the Company will encounter unanticipated geological factors, risks
associated with the interpretation of exploration results, and the possibility that the Company may not be
able to secure permitting and other governmental clearances ne cessary to carry out the Company's
exploration plans. Readers should not place undue reliance on the forward -looking statements and
information contained in this news release concerning these items. Graphano does not assume any
obligation to update the for ward-looking statements of beliefs, opinions, projections, or other factors,
should they change, except as required by applicable securities laws. We seek safe harbour.