VANCOUVER, BRITISH COLUMBIA–(Marketwired – July 12, 2016) – CKR Carbon Corporation. (“CKR” or the “Company”) (TSX VENTURE:CKR)(FRANKFURT:CB8) is pleased to announce the results of recent assays for samples of graphite veins from the lower adit and further assays of screened dump material at the Aukam graphite project in southern Namibia.
Chip channel samples were taken from three graphite veins exposed in the lower adit and assayed from 18.34% Cg to 56.06% Cg (see table below).
The first sample was taken close to the entrance to the adit and assayed 18% Cg (carbon as graphite) over 0.9 metres (true width of 0.85 metres). A second sample was taken at the intersection of the adit with a crosscut and assayed 41.98% Cg over 0.84 metres (true width of 0.83 metres). The third sample was taken from the wall of a 2.2 metre wide stope near the end of the adit and assayed 52.08% Cg. With the exception of the low grade sample RM-001, results of these assays are consistent with historical assays of graphite veins that range from 41.21 to 68.85% Cg.
Three two to four kilogram grab samples of screened and sorted material from the dumps produced by the ongoing bulk sampling program assayed 41.55% Cg to 53.48% Cg. Previous assays of the material ranged from 55.64% Cg to 63.87% Cg (see news release dated June 3, 2016). The average grade of the 10 samples taken to date is 56.29% Cg.
“We are very pleased with the consistency of assays from the screened and sorted material produced during the bulk sampling program.” said Roger Moss, President and CEO of CKR Carbon. This indicates that the screening and sorting is achieving the desired outcome of generating an upgraded graphitic product. In addition, the initial sampling of the veins in the underground adit demonstrates the high grade nature of the veins. CKR plans to follow up on these successful results with additional underground exploration.”
|Sample Number||Sample Type||Description||True Thickness (m)||Carbon as Graphite (Cg %)|
|RM-001||Channel chip||Graphite Vein||0.85||18.34|
|RM-002||Channel chip||Graphite Vein||0.83||41.98|
|RM-003||Channel chip||Graphite Vein||Unknown||56.06|
The technical content of this news release was approved by Roger Moss, Ph.D., P.Geo a qualified person as defined by National Instrument 43-101.
About the Aukam Project
CKR has an option to acquire up to 73% of the Aukam graphite project by meeting certain milestones and making cash payments. The project is located on 34,082.15 hectares in southern Namibia close to the port city of Luderitz. The property hosts three underground adits which were mined periodically between 1940 and 1974. Five dumps from the historical mining occur on the property and 73 samples from the lower three dumps were assayed and averaged 42% Cg. CKR is planning a bulk sampling program at Aukam, and has a letter of intent to sell the graphitic material produced during the program. CKR also intends to put the historical mine back into production and is working on an application for a mining license. The company maintains high safety and environmental standards and has a comprehensive strategy of social engagement.
About CKR Carbon Corporation
CKR Carbon Corporation is focused on high quality, natural graphite suitable for use in lithium-ion batteries, graphite foil and other value-added high growth technology applications. We only select projects requiring low capital and a short time to market. The company is listed on the TSX Venture Exchange under the symbol CKR and has 33.2 million shares outstanding.
For graphite product enquiries:
Arno Brand, Boswell Projects, +1 416-561-4095 [email protected]
“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.”
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. 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. 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).