Graphano Energy: Drilling Highlights Multiple Zones on Western Trend - Returns 15.0 Metres Grading 15.6% Cg at Standard Mine Graphite Project
Page 1 of 5
Graphano Energy: Drilling Highlights Multiple Zones on Western Trend -
Returns 15.0 Metres Grading 15.6% Cg at Standard Mine Graphite Project
Vancouver, BC, February 22, 2024 - Graphano Energy Ltd. (“Graphano” or the “Company”) (TSX-
V: GEL; OTCQB: GELEF; FSE:97G0) is pleased to report further assay results from the 2023-24 winter
drilling program at its 100% owned Standard Mine Project (“Standard”). The primary focus of the drilling
program was on graphite zone expansion, following up on the excellent results from the 2022-23 trenching
and drilling programs.
Luisa Moreno, Chief Executive Officer of the Company, stated: “We are excited to continue the release of
the Standard Mine drill results from a very successful drilling campaign. To date we have drilled over 3,000
metres at Standard in connection with ongoing Mineral Resource estimation work . We firmly believe
Standard complements our Lac -Aux-Bouleaux graphite project well and we eagerly look forward to
continuing to advance the two projects to become a significant regional supplier of sustainable graphite to
the North American market.”
Key Highlights from the Western Graphite Trend (See Full Results in Table 1)
Current Holes
➢ Drill Hole ST23-21 intersected 15.57% graphitic carbon (Cg) over 15.04 metres (m) starting at
68.79 m drilled depth; and
➢ Drill Hole ST23-19 intersected 6.28% Cg over 5.23m at 25.75m drill depth, and 5.57% Cg over
4.14m at 40.43m drill depth and 4.89% over 5.26m at 52.47m drill depth.
Previous Holes
➢ Drill Hole ST23-13 intersected 8.99% Cg over 11.3 m starting at 4.2 m drilled depth, and 7.65%
Cg over 13.0 m at 56 m drill depth; and
➢ Drill Hole ST23-05 intersected 5.79% Cg over 14.4 m at 4.6 m drill depth.
(Note: All intersections reported are based on drilled width and have not been converted to the true width.
True widths are not currently known.)
The seven drill holes reported in this update were drilled as step -outs to extend the mineralization on the
Western Trend. Previous Western Trend trenching and drilling completed by Graphano in early 2023
returned multiple zones of significant graphite mineralization , such as in hole ST23 -13 noted above. The
current drilling has extended this mineralization and indicates the zones dip to the southeast towards the
northwest dipping Eastern Trend (see news release dated February 15, 2024 – Reports 18.8m grading 9.79%
Cg). Drilling to date has encountered significant graphite mineralization over an approximate strike length
of 350m and mineralization remains open in both the strike and dip directions for continued expansion. In
addition, Drill Hole ST23-22 intersected a new area of near surface mineralization grading 7.34% Cg over
3.03m at a drilled depth of 8.92m and warrants further exploration. Full assay results from the seven holes
Page 2 of 5
are presented in Table 1 and drill hole locations in Figure 2 . Further assay results are expected to be
released in the coming weeks.
Table 1 – Drill Hole Results
Hole No. Azimuth Dip Easting Northing From (m) To (m) Thickness
(m) A1 % Cg
Thickness
(m) A1 x %Cg
ST23-19 302 -45 483163 5154375 25.75 30.98 5.23 6.28 33
and 40.43 44.57 4.14 5.57 23
and 52.47 57.73 5.26 4.89 26
and 78.80 81.68 2.88 4.35 13
and 83.32 84.96 1.64 7.00 11
ST23-20 302 -48 483163 5154443 8.46 11.18 2.72 6.42 17
and 47.70 49.32 1.62 7.37 12
ST23-21 302 -45 483249 5154398 4.33 6.78 2.45 5.73 14
and 33.80 35.54 1.74 12.20 21
and 68.79 83.83 15.04 15.57 234
ST23-22 302 -45 483303 5154475 8.92 11.95 3.03 7.34 22
and 51.90 57.48 5.58 3.99 22
ST23-23 302 -45 483340 5154521 71.10 72.24 1.14 12.90 15
ST23-27 302 -45 483149 5154326 27.44 28.80 1.36 12.33 17
and 56.00 58.15 2.15 5.30 11
and 99.38 100.56 1.18 9.06 11
ST23-33 302 -70 483242 5154452 36.81 41.21 4.40 4.86 21
and 65.52 66.27 0.75 15.40 12
Notes: A 1 Intervals are core length. True width will be defined with additional drilling
UTM NAD 83, Zone 18
Standard Mine Graphite Project
Exploration Drill Results
Page 3 of 5
Figure 1 – Map with the location of the drill holes at the Standard Project
Select samples from the 17 holes drilled from Standard were submitted for assay analysis. A total of 1,991m
was drilled during the program. All drill core samples were sampled, stored and shipped using industry 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
Page 4 of 5
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 sample program also included field duplicates, blanks and a graphite
standard sample for quality control and quality assurance (QA/QC) purposes.
Qualified Person
This news release has been reviewed and approved by Roger Dahn, B.Sc., P.Geo ., a director of the
Company and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for
Mineral Projects (“NI 43-101”). Matthew Harrington, P.Geo., of Mercator Geological Services Ltd. and
an “Independent Qualified Person” as defined in NI 43-101, has reviewed and approved the scientific and
technical information disclosed in this news release.
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 a ctive 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”, “poss ible”, 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, graphite
zone expansion at Standard, ongoing mineral resource estimation work, further advancing the Company’s
projects, the Company potentially becoming a significant regional supplier of graphite to the North
American market, and future assay results and any 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
anticipated 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 tha t, 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
Page 5 of 5
actual results, performance or achievements to be materially different from the results, performance 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, 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, the possibility that the Company may not be able
to secure permitting and other governmental clearances necessary to carry out the Company's exploration
plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans,
and the risk of political uncertainties and regulatory or legal changes that might interfere with the
Company's business and prospects. These risks, as well as others, are disclosed within the Company's filing
on SEDAR+ at www.sedarplus.ca, the Canadian Securities Administrators' national system that all market
participants use for filings and disclosure, which investors are encouraged to review prior to any
transaction involving the securities of the Company. 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.