VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 27, 2017) – Ceylon Graphite Corp. (“Ceylon“) (TSX VENTURE:CYL)(OTC PINK:CYLYF)(FRANKFURT:CCY) announces that it has commenced drilling at its K1 site, which is a past producing graphite mine. Drilling at K1 will initially focus on the area identified during VLF mapping around the old mine site. The K1 site is currently the highest priority grid that has been identified by the local geological team.
Bharat Parashar, Chief Executive Officer, said: “The intent is to initially drill in the vicinity of the old shaft and then the remainder of the grid up to depths of at least 300 meters to be able to ascertain the exact location of the highest quality graphite vein. This will be done by taking soil samples at different depths and then sending these samples to various laboratories to test for the quality of the graphite.”
About Ceylon Graphite Corp.
Ceylon Graphite Corp is a public company listed on the TSX Venture Exchange (TSX VENTURE:CYL), that is in the business of exploring for and development of graphite mines in Sri Lanka. The Government of Sri Lanka has granted the company exploration rights in a land package of over 100km². These exploration grids cover all relevant areas that had historical graphite production during the early twentieth century representing the majority of the known graphite occurrence in Sri Lanka. Ceylon’s graphite is the purest in the world, and currently accounts for less than 1% of the world graphite production.
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FORWARD-LOOKING STATEMENTS: This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management’s current expectations and assumptions. The forward-looking information includes statements about the Company’s expected increase in global exposure and anticipated investment from European investors. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company including the assumption that trading on the Frankfurt Stock Exchange will increase the Company’s profile to European investors. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Risk factors that could cause cause actual results to differ materially from the results expressed or implied by the forward-looking information include, among other things, a general economic downturn. The Company cautions the reader that the above list of risk factors is not exhaustive.
These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
Further information regarding the Company is available at www.ceylongraphite.com.
Chairman & Chief Executive Officer