Graphano Drilling Results Show Great Potential for Zone 3 at LAB Graphite Project
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Graphano Drilling Results Show Great Potential for Zone 3
at LAB Graphite Project
Vancouver, BC, February 8, 202 3, Graphano Energy Ltd. (the “Company”) (TSX-V: G EL;
FSE:97G0) is pleased to announce results of the exploration drilling of Zone 3 on its 100% owned Lac Aux
Bouleaux Graphite (LAB) Property in Quebec.
Luisa Moreno, Chief Executive Officer of the Company, stated: “The recent drill program has been very
successful, with significant graphite mineralization being intersected in almost all the holes completed on
Zone 3. Our drilling program to date suggests that the graphite mineralization at Lac Aux Bouleaux is
structurally folded which can enhance the economic potential of the various zones of mineralization. We
are encouraged to continue with the exploration drilling program for all the remaining zones followed by
a comprehensive resource drilling program later this year. We are confident that we will define a compliant
mineral resource to supply graphite to the western battery supply chain in the near term; thus, continuing
to make this region of Quebec the only source of graphite in North America.”
A total of 25 drill holes were completed for a total of 1,779 metres. Given that surface mineralization was
previously exposed during Graphano’s trenching program intermittently along the length of Zone 3 , most
holes were shallow (less than 60 m) to test the immediate depth and thickness of the graphite mineralization.
Twenty-three holes were drilled to evaluate Zone 3 over a length of approximately 500 metres. One hole
was drilled in Zone 8 and another one in Zone 4. Highlights of the drilling results are provided below.
Highlights (see Figure 1 and Table 1 for details):
Zone 3 Target
Very successful drill program with 15 of the 23 drill holes (65%) intersecting significant graphite
mineralization over the 500 metre length of Zone 3 tested by this first phase of exploration drilling. The
mineralization outlined remains open for continued expansion. Results include:
➢ Drill Hole LB22-33 intersected 6.26% graphitic carbon (Cg) over 13.7 meters (m) starting at 14.0
(m) drilled depth, including 11.95% Cg over 4.7 m 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;
➢ Drill Hole LB22-39 intersected 4.72% Cg over 11.6 m at 36.4 m , including 6.56% Cg over 6.6 m
at 36.4m;
➢ Drill Hole LB22-34 intersected 5.82% Cg over 9.0 m at 38.0 m, including 6.25% Cg over 3.50 m
at 38 and 7.28% Cg over 4 m at 43 m;
➢ Drill Hole LB22-32 intersected 6.28% Cg over 8.0 m at 18.5 m;
➢ Drill Hole LB22-48 intersected 9.53% Cg over 5.0 m at 19.5 m
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Zone 8 Target
Only a single drill hole completed to date, LB22-54, which intersected 4.12% Cg over 6.0 m at 26 m drilled
depth which indicates significant potential for this virtually unexplored target. Based on airborne EM results
the Zone 8 target has an approximate 1000 metre length requiring further exploration.
(Note: All intersections reported are based on drilled width and have not been converted to the true width).
One method of evaluating and visually demonstrating the exploration significance of a drill program and
thus the indicated economic potential is to calculate a drill hole’s mineralized zone thickness multiplied by
the zone’s grade. The last column of the table on Figure 1 shows the thickness times metres values for LAB
Zone 3 drill holes. The values greater than 25 (yellow highlight) are significant and those above 50 (red
highlight) are very significant.
Figure 1 – Zone 3 Drill Holes Map
The exploration drilling to date seems to suggest that the relatively high-grade LAB graphite horizons are
locally folded and structurally thickened , which can enhance the potential for economic mineralization.
This is similar to the Lac des Iles (LDI) deposit (Figure 2) that has been mined for over 30 years and is
located immediately adjacent to Graphano’s LAB property.
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Figure 2 – Lac des Iles Graphite Mineralization Model
Source: Technical Report on the Lac-des-Îles Quarry, Québec, Report for NI 43 -101, February 2022, SRL Consulting (Canada).
Note: graphite mineralization in the green area.
Luisa Moreno, Chief Executive Officer of the Company, added: “The combination of the excellent
accessibility of the property and the near surface mineralized zones gives Graphano great encouragement
for the development of LAB at a much faster pace than usual.”
Zone 3 on the Property 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. These
targets were further explored through ground geophysical survey ing and, prior to drilling , additional
trenching and channeling sampling was performed to identify the best areas for drilling and orientation.
The majority of drill holes completed on the Zone 3 target intersected near surface mineralized horizons
ranging from 1.0 metres to 14 metres in thickness (core length) over a 500 m length, thus far by drilling.
The graphite mineralization observed during the drilling is hosted within a sequence of marble, paragneiss
and quartzites.
Table 1: Drill Hole Results
LAB Graphite Project
2022 Exploration Drilling
LAB Zone 3
Hole No. Azimuth Dip Easting Northing From
(m)
To
(m)
Thickness
(m) A1 % Cg
LB22-31 135 -45 457744 5134052 14.00 20.00 6.00 4.15
including 14.00 18.00 4.00 6.23
LB22-32 135 -45 457730 5134067 18.50 26.50 8.00 6.28
including 18.50 24.00 5.50 8.40
54.50 55.50 1.00 9.15
LB22-33 135 -45 457765 5134069 14.00 27.70 13.70 6.26
including 14.00 18.70 4.70 11.95
and 25.50 27.70 2.20 11.45
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47.50 57.00 9.50 2.67
including 47.50 49.00 1.50 9.63
LB22-34 135 -45 457746 5134086 38.00 47.00 9.00 5.82
including 38.00 41.50 3.50 6.28
and 43.00 47.00 4.00 7.38
63.00 63.70 0.70 9.53
LB22-35 135 -45 457715 5134020 22.00 29.00 7.00 4.19
including 22.00 26.00 4.00 6.24
LB22-36 135 -45 457704 5134031 0.00 3.00 3.00 3.65
29.50 38.00 8.50 2.90
including 34.00 38.00 4.00 3.49
LB22-37 315 -45 457704 5134029 1.00 4.00 3.00 3.68
21.00 27.00 6.00 6.65
including 23.00 26.00 3.00 10.95
LB22-38 200 -45 457707 5134026 20.00 26.00 6.00 3.17
LB22-39 315 -45 457762 5134002 2.00 4.00 2.00 3.95
13.00 15.00 2.00 8.86
36.40 48.00 11.60 4.72
including 36.40 43.00 6.60 6.56
LB22-40 315 -45 457772 5134024 No Significant Mineralization
LB22-41 315 -70 457767 5133999 No Significant Mineralization
LB22-43 135 -45 457811 5134198 No Significant Mineralization
LB22-44 135 -45 457834 5134226 15.00 29.00 14.00 2.06
including 17.00 19.00 2.00 3.14
and 23.00 25.00 2.00 5.16
LB22-45 135 -45 457787 5134205 68.00 76.00 8.00 9.09
including 68.00 73.50 5.50 12.59
82.00 85.00 3.00 2.10
LB22-46 135 -50 457809 5134244 64.50 68.00 3.50 8.94
LB22-47 315 -45 457854 5134391 No Significant Mineralization
LB22-48 315 -45 457904 5134350 19.50 24.50 5.00 9.53
LB22-49 315 -45 457863 5134313 20.00 23.00 3.00 6.03
LB22-50 315 -45 457939 5134302 47.00 55.00 8.00 3.95
including 47.50 53.00 5.50 4.78
LB22-51 350 -45 457935 5134338 26.00 32.50 6.50 4.23
including 30.00 32.50 2.50 9.10
LB22-52 315 -45 457895 5134277 36.00 45.00 9.00 7.17
LB22-53 345 -85 457941 5134307 19.00 38.00 19.00 1.44
including 37.00 38.00 1.00 14.10
LB22-55 315 -45 457828 5134289 21.00 23.00 2.00 3.27
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LAB Zone 4
LB22-42 315 -45 457461 5133968 61.00 63.00 2.00 4.30
88.50 89.00 0.50 7.18
LAB Zone 8
LB22-54 315 -55 457718 5134421 26.00 32.00 6.00 4.12
including 27.00 30.00 3.00 7.33
Notes: A1 Thicknesses are core length. True width will be defined with additional drilling
UTM Nad 83, Zone 18
All drill core samples were bagged and tagged using best practices and were delivered to Activation
Laboratories (“ACTLABS“), Ancaster, Ontario, for sample preparation and analyses using laboratories’
Code 4F-C Graphitic, analyzing C-Graphite (infrared) where the sample is subjected to a multistage furnace
treatment to remove all forms of carbon with the exception of graphitic carbon; and C -Total (infrared).
ACTLABS is an independent commercial, accredited ISO Certified Laboratory. The core samples also
include field duplicates and blanks for quality control and quality assurance (QA/QC) purposes.
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” as defined in
National Instrument 43-101 – Standards of Disclosure for Mineral Projects. (“ NI 4 3-101”), and Roger
Dahn, B.Sc., P.Geo, a director of the Company, also a “Qualified Person”.
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, relating to future
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operations - exploration, drilling and other activities of Graphano - 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 Company’s exploration
plans, results therefrom, and the impact thereof. There can be no assurance that such statements will prove
to be accurate, and actual results and future events could differ materially from those a nticipated in such
statements. Forward -looking statements reflect the beliefs, opinions 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 inherent ly 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, perf ormance or
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, the ability to complete proposed exploration work, the results of exploration, continued
availability of capital, and changes in general economic, market and business conditions. 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 forward -looking
statements of beliefs, opinions, projections, or other factors, should they change, except as required by
applicable securities laws. We seek safe harbour.