Graphano Reports 21 Metres Grading 5.51% Cg from Drilling Program at the Standard Mine Project
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Graphano Reports 21 Metres Grading 5.51% Cg
from Drilling Program at the Standard Mine Project
Vancouver, BC, February 23, 2023 - Graphano Energy Ltd. (“Graphano” or the “Company”) (TSX-
V: GEL; FSE: 97G0) is pleased to report that all assay results from the 2022 winter drilling program at the
historical Standard Mine Project have been received.
Luisa Moreno, Chief Executive Officer of the Company, stated: “We are delighted that the initial
exploration drilling program at the Standard Mine Project resulted in the highest graphite mineralized
intersections that the Company has reported to date, exceeding in significance even the very positive results
from its LAB Project immediately adjacent to Canada’s only producing graphite mine . The results are
highly encouraging as Graphano looks to establish mineral resources in this region of historical graphite
production and great infrastructure. Our focus is to bring to market the much-needed low carbon footprint
graphite for the North America electric vehicle supply chain, in the shortest possible timeline.”
Graphano owns a 100% interest in four graphite properties, including the Standard Mine Project and all
within trucking distance from the Lac-Aux-Bouleaux (“LAB”) mine region, to allow for the Company’s
resource consolidation strategy to feed a centralized processing plant at LAB. The historical resource at
LAB, the recently announced Zone 3 discovery at LAB (see news release dated February 8, 2023) and now
the exciting results from the Standard Mine Project re-enforce the economic potential of this consolidation
strategy.
The winter drill program at the Standard Mine has intersected very significant graphite mineralization over
more than a 500-metre length. The mineralized zones range in thickness from 3 to 20.5 metres with an
average thickness of 9.3 metres. The mineralization has been tested from surface (see Table 2: Surface
Trenching Results) to a maximum vertical depth of approximately 60 metres and remains open in all
directions for continued expansion.
Key Highlights (See Full Results in Table 1)
➢ Drill Hole ST23-10 intersected 5.11% graphitic carbon (Cg) over 20.5 meters (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 metres
(Note: All intersections reported are based on drilled width and have not been converted to the true width.)
Select samples from the 14 holes drilled at the Standard Mine Project were submitted for assay analysis and
the results are reported below. A total of 1033 metres were drilled. Most of the drilled holes were shallow
to test the immediate near surface depth and thickness of the graphite mineralization that was exposed
during the trenching and channelling program conducted earlier during the 2022 fall program. Highlights
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of the exposed surface mineralization include 6.21% Cg over 26 metres and 10.32% Cg over 9.5 metres in
trenches 18 and 21 respectively. See Table 2 for surface trenching results for reference.
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
Standard Mine drill holes. The values greater than 20 (yellow highlight) are significant and those above 50
(red highlight) are very significant.
Figure 1 – Map with the location of the drill holes at the Standard Project
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 carb on 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.
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Table 1 – Drill Hole Results
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Table 2 – Surface Trenching Results
Qualified Person
The technical content disclosed in this press release was 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 , who ha s provided the technical information in this press
release, and by Mr. Martin Ethier, Géo (#1520) , who is a Member of the Order of Geologists of Québec
and also a “Qualified Person” under 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.
Zone Trench # Easting Northing From (m) To (m) Length (m) % Cg Summary
NW Airborne Trend
TR 22-18 483207 5154552 0 26.0 26 6.21 6.21% Cg over 26 meters 1
TR 22-19 483182 5154543 0.5 10.5 10 11.76 11.76% Cg over 10 meters 1
TR 22-20 483150 5154405 0 10.0 10 5.06 5.06% Cg over 10 meters 1
including 7 10.0 3 10.07 10.07% Cg over 3 meters 1
SE Airborne Trend
TR 22-21 483245 5154278 0 9.5 9.5 10.32 10.32% Cg over 9.5 meters 2
Notes: UTM Nad 83, Zone 18
All channel samples were taken perpendicular to the strike of the mineralization
1
2
Mineralization in trenches TR 22-18, TR 22-19 and TR 22-20 is shallowly dipping to the southeast at ~30 deg.
Thus the estimated true thickness is ~ 50% of the channel sample length (Ex. 26 m channel length = ~ 13 m true
thickness.)
Mineralization in trench TR 22-21 is moderately dipping to the southeast at ~40 deg. Thus the estimated true
thickness is ~ 64% of the channel sample length (Ex. 9.5 m channel length = ~ 6 m true thickness.)
Standard Mine Graphite Project
2022 Fall Trenching Program Results
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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
operations, including exploration, drilli ng 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 t he 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 an d
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 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 ca pital, 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.