Northern Graphite Clarifies Disclosure on South Okak Exploration Results
Northern Graphite Clarifies Disclosure on
South Okak Exploration Results
Ottawa, Ontario--(Newsfile Corp. - April 5, 2022) - Northern Graphite Corporation
(TSXV: NGC)
(OTCQB: NGPHF) (FSE: 0NG) (XSTU: ONG)
(the "
Company
" or "
Northern
"), at the request of
IIROC, is re-issuing exploration results from its Press Release of April 4, 2022 to provide additional
information on QA/QC, the analytical laboratory and analytical techniques and the Qualified Person and
contact person.
The results of the program are unchanged.
A majority of the samples were taken from numerous gossans located on structures which cross-cut the
main NW trending suture that traverses through the area and also hosts the Voisey's Bay deposits.
Some of these gossans are over 2km in length and represent multiple exploration targets. One sample
returned 1.1% Cu, 0.85% Ni and 0.13% Co and another 1.1% Cu, 0.43% Ni and .085% Co.
As per the
table below, a number of samples also exceeded 1.0% Ni equivalent.
These are significant values given
they were collected from highly weathered gossanous material.
South Okak Property
Selected 2021 Field Sampling Program Assay Results
Sample
Copper
Nickel
Cobalt
NiEq*
123749
1.050%
0.848%
0.130%
1.54%
123732
0.313%
0.971%
0.172%
1.51%
123748
0.603%
0.890%
0.134%
1.44%
123552
0.899%
0.738%
0.129%
1.38%
123563
0.243%
0.918%
0.147%
1.37%
123698
0.904%
0.559%
0.108%
1.15%
123690
0.535%
0.638%
0.124%
1.14%
123701
0.479%
0.609%
0.141%
1.13%
123741
1.060%
0.430%
0.085%
1.01%
123739
0.858%
0.465%
0.092%
1.00%
123643
0.313%
0.524%
0.114%
0.92%
123704
0.284%
0.526%
0.113%
0.91%
123571
0.345%
0.499%
0.088%
0.84%
123604
0.428%
0.378%
0.109%
0.80%
123639
0.355%
0.381%
0.110%
0.78%
123603
0.427%
0.351%
0.102%
0.76%
123637
0.497%
0.319%
0.098%
0.74%
123745
0.553%
0.343%
0.070%
0.71%
123665
0.466%
0.379%
0.065%
0.71%
*Based on a price of US$10/lb for Ni, US$3.50/lb for Cu and US$25/lb for Co.
For a complete table of sample results
click here
Rocks samples were collected in a careful and diligent manner. Samples were tagged and sealed prior to being shipped by Contract personnel to
Actlabs in Ancaster, Ontario, which is an independent and accredited full-service commercial laboratory accredited to ISO 9001:2015. The
samples were analyzed using the 1C-Exp, 1F2 and Code 8 (Ni, Cu, Co) packages.
About Northern Graphite
Northern Graphite is a Canadian company, listed on the TSX Venture Exchange that is focussed on
becoming a world leader in producing natural graphite and upgrading it into high value products critical
to the green economy including anode material for LiBs/EVs, fuel cells and graphene, as well as
advanced industrial technologies.
Completion of the Imerys Transaction will result in Northern becoming the only North American and the
world's third largest non-Chinese graphite producing company with 50,000 tpy of capacity.
In addition,
Okanjande and the Company's existing Bissett Creek project are two large scale development projects
that have the combined potential to produce over 200,000 tpy of high quality flake graphite.
Both are
located close to infrastructure in politically stable jurisdictions and will enable the Company to
significantly expand future production to meet rapidly growing demand from EV and battery markets.
Qualified Person
Gregory Bowes, B.Sc. MBA P.Geo
is a "qualified person" as defined under NI 43-101 and has reviewed
and approved the content of this news release.
For additional information
Please visit the Company's website at
http://www.northerngraphite.com/investors/presentation/
, the
Company's profile on
www.sedar.com
, our
Social Channels
listed below or contact the Company at
(613) 241-9959.
YouTube
This news release contains certain "forward-looking statements" within the meaning of applicable
Canadian securities laws. Forward- looking statements and information are frequently characterized
by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential",
"possible" and other similar words, or statements that certain events or conditions "may", "will",
"could", or "should" occur. Forward-looking statements in this release include statements regarding,
among others; the Company's intentions to complete the Transaction and related financings and the
Company's market position post-Transaction. All such forward-looking statements are based on
assumptions and analyses made by management based on their experience and perception of
historical trends, current conditions and expected future developments, as well as other factors they
believe are appropriate in the circumstances. However, these statements are subject to a variety of
risks and uncertainties and other factors that could cause actual events or results to differ materially
from those projected including, but not limited to unexpected changes in laws, rules or regulations, or
their enforcement by applicable authorities; the failure of other parties to perform as agreed; social or
labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure and
the failure of ongoing and contemplated studies to deliver anticipated results or results that would
justify and support continued studies, development or operations. Readers are cautioned not to place
undue reliance on forward-looking information or statements.
Although the forward-looking statements contained in this news release are based on what
management believes are reasonable assumptions, the Company cannot assure investors that
actual results will be consistent with them. These forward-looking statements are made as of the date
of this news release and are expressly qualified in their entirety by this cautionary statement. Subject
to applicable securities laws, the Company does not assume any obligation to update or revise the
forward-looking statements contained herein to reflect events or circumstances occurring after the
date of this news release.
Neither the 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/119390