NEW YORK, NY and WINDHOEK, NAMIBIA–(Marketwired – Dec 18, 2015) – Next Graphite, Inc. (OTC PINK: GPNE) (“Next Graphite”, “GPNE” or the “Company”), a graphite exploration /development stage company in Africa’s Republic of Namibia, today announced testing and grading results of a 1,000-kg underground sample from its Aukam property lower adit. GPNE’s recent rounds of testing and grading have been funded by the Company’s joint venture with Caribou Carbon, Corp. (TSX VENTURE: CKR).
“The 96% grading from our lower adit aligns with sample grading from the140,000 tonnes of heaps on our property and is representative of what we can immediately mine in our lower adit,” began Cliff Bream, CEO of Next Graphite. “The expertise provided to us from our joint-venture with CKR has helped us extract and validate the caliber of natural flake graphite we anticipated. Our easily-accessible heaps which we are preparing for processing and sale, the new results from our lower adit, and expected similar results from our upper adit qualify us as a second-source for such caliber of lump-vein type graphite in the world and enables us the potential to quickly fill demand and benefit from the per tonne pricing lump-vein commands in the market.”
The test samples were taken as part of a 25-ton bulk sampling program from the lower adit at the Company’s Aukam project. Samples were delivered and tested by Lilhof Enterprises (“Lilhof”), formerly Gecko Laboratories of Swakopmund, Namibia.
The specific methods used by Lilhof to test the samples and the results are detailed in Caribou Carbon’s reported test results on December 14, 2015, included below.
Results of assays from 84 unscreened samples ranging in weight from 3.12kg to 10.75kg show a range of 11.39% Cg (carbon as graphite) to 72.14% Cg with an average of 27.66% Cg. In addition, 21 of the 84 samples (25%) assayed more than 30% Cg.
Flake Size Distribution
Prior to flotation testing, flake size distributions were determined on three composite samples. The distribution is consistent between the three samples showing primarily medium to large flake (35.0 to 38.4%) and fine flake (39.7 to 42.0%) sizes. Results are given in the table below.
|Description||Particle Size||Test 1||Cumulative||Test 2||Cumulative||Test 3||Cumulative|
A 129 kg sample of the Aukam material with a head grade of 29.65% Cg was upgraded by flotation and acid wash to a grade of 96.13% Cg. The concentrate was also low in sulphur, showing an average of 0.08% S. The rougher concentrate averaged 80.59% Cg and the cleaner concentrate averaged 89.58% Cg. Significant graphite reported to the rougher and cleaner tails which assayed 6.2% Cg and 8.95%Cg, respectively, indicating potential to further optimize the process.
The test samples were taken as part of a 25 tons bulk sampling program at the Aukam project and were chosen to ensure they are representative of the material (See news release dated 8 October, 2015). All carbon analyses were performed by thermo-gravimetric assay at Lilof Enterprises Laboratory in Swakopmund. Check assays were performed on 17 samples for carbon and sulphur by an external laboratory (Bureau Veritas).The results of the check assays compared favorably to that obtained by Lilof Enterprises, with an average of 26.51% Cg for the Lilof assays compared to 26.91% Cg for Bureau Veritas.
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 CKR Carbon Corporation
CKR Carbon Corporation is focused on high quality natural graphite suitable for use in lithium-ion batteries and graphite foil. We only select projects requiring small capital and a short time to market. The company is listed on the TSX Venture Exchange under the symbol CKR and has 23.7 million shares outstanding.
About Next Graphite, Inc.:
Next Graphite, Inc. is an exploration / development stage company targeting the growing global graphite production industry with the Company’s Africa-based Aukam Graphite Project. The Aukam Graphite Mine was established in 1940 in the current Republic of Namibia, produced USD$30 million of graphite at today’s prices. The Graphite property is estimated to still contain a significant amount of high grade, vein type graphitic material. Global graphite demand is being driven by the development of new markets for clean and efficient energy alternatives, smart grid infrastructure and military capabilities. Next Graphite has an immediately available, surface-visible, estimated 140,000-tonne mine heaps along with competitive projected mining and processing costs. The completion of GPNE’s Aukam Graphite Mine re-launch and development activities are expected to result in a multi-million dollar inward investment into Namibia commencing in 2015.
For more information, please visit: www.nextgraphite.com
Safe Harbor Statement
This press release contains forward-looking statements made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Next Graphite Inc.’s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Africa, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements. Among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Africa, general economic conditions; geopolitical events and regulatory changes, availability of capital, the Company’s ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.