Graphano Successful at Zone 3 - Reports 13.8 Metres Grading 6.3% Cg at the LAB Graphite Project
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Graphano Successful at Zone 3 -
Reports 13.8 Metres Grading 6.3% Cg at the LAB Graphite Project
Vancouver, BC, April 11, 2024 - Graphano Energy Ltd. (“Graphano” or the “Company”) (TSX-V:
GEL; OTCQB: GELEF; FSE: 97G0) is pleased to report initial assay results from the 202 3-24 winter
drilling program on Zone 3 at its 100% owned Lac Aux Bouleaux Graphite (“LAB”) Property in Québec.
Zone 3, discovered by Graphano in 2022 (see news release dated February 8, 2023), represents a highly
prospective mineralized trend defined by surface trenching and drilling over an approximate strike length
of 500 metres. The primary focus of the drilling program was on graphite zone expansion to enlarge the
“footprint” of mineralization in support of the Company’s ongoing Mineral Resource estimation work at
both the LAB and the Standard Mine projects. The mineralization remains open in both the strike and dip
directions for continued expansion.
Luisa Moreno, Chief Executive Officer of the Company, stated: “We are pleased with the results from Zone
3, which confirm the promising findings obtained through our surface exploration efforts. The high-grade
intersections and the continuity of mineralization underscore the significant potential for expansion and
reinforce our confidence in the project's prospects.”
Key Highlights (See Full Results in Table 1)
Current Holes
➢ Drill Hole LAB23-62 intersected 6.33% graphitic carbon (Cg) over 13.82 metres (m) starting at
38.23m drilled depth; and
➢ Drill Hole LAB24-64 intersected 5.75% Cg over 14.42m at 53.58m drilled depth, including 7.64%
Cg over 7.64m at 53.58m.
Previous Holes
➢ Drill Hole LB22-33 intersected 6.26% graphitic carbon (Cg) over 13.7m starting at 14.0 m drilled
depth, including 11.95% Cg over 4.7m at 14m drilled depth;
➢ Drill Hole LB22-45 intersected 9.09% Cg over 8.0m at 68m drilled depth; and
➢ Drill Hole LB22-52 intersected 7.17% Cg over 9.0m at 36m drilled depth.
(Note: All intersections reported are based on drilled width; true widths will be determined with additional
drilling programs.)
The five drillholes totaling 356 metres reported in this update were drilled as step -outs to extend
mineralization and to confirm structural interpretations of Zone 3. Mineralization is interpreted to occur
within a near surface, synformal fold structure trending to the northeast. The drilling suggests the multiple
graphite horizons are locally folded and structurally thickened which can enhance the potential for
economic extraction.
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Holes LB23-60, 61 and 63 were drilled to evaluate the northern limb of the fold structure and holes LB23-
62 and 64 the southern limb. All holes intersected significant graphite mineralization. The mineralization
remains open in both the strike and dip directions for continued expansion. Full assay results from the five
holes are presented in Table 1 and drill hole locations in Figure 2. Further assay results are expected to be
released from the LAB Zone 3 drilling 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
LB23-60 230 -60 457682 5134000 3.00 9.99 6.99 4.98 35
including 3.00 4.90 1.90 9.34 18
and 8.31 9.99 1.68 8.12 14
LB23-61 316 -65 457729 5134074 16.23 18.48 2.25 3.31 7
and 23.36 24.98 1.62 3.79 6
and 35.55 37.36 1.81 6.05 11
LB23-62 140 -45 457760 5134119 38.23 52.05 13.82 6.33 87
including 38.23 42.59 4.36 8.57 37
and 48.57 52.05 3.48 13.07 45
LB24-63 315 -45 457753 5134125 33.16 42.00 8.84 3.67 32
including 33.16 34.51 1.35 8.45 11
and 37.52 42.00 4.48 4.56 20
LB24-64 140 -45 457766 5134175 53.58 68.00 14.42 5.75 83
including 53.58 61.22 7.64 7.64 58
and 65.93 68.00 2.07 11.40 24
91.23 94.88 3.65 5.73 21
Notes:
In hole LAB24-64 the interval from 53.58 to 68.0m grading 5.75% Cg over 14.42m includes a 3.69m section which was not assayed. A
grade of zero was used in calculating the weighted average grade for the 14.42m interval.
A 1 Intervals are core length. True width will be defined with additional drilling
UTM Nad 83, Zone 18
LAB Graphite Project
ZONE 3 - Exploration Drill Results
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Figure 1 – Map with the location of the drillholes at LAB Zone 3
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Select samples from the 13 holes drilled from LAB were submitted for assay analysis. A total of 1,034m
were 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
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 assurance and quality control (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. is an
“Independent Qualified Person” as defined under N I 43-101 and confirms he 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 Qu ébec, Canada, Northern Graphite Corporation’s Lac des Iles Mine , 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
operations, including 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, being able to further expand the Company’s
resource potential, and ongoing Mineral Resource estimation work. 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
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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 capital, and chang es 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.