SRG graphite goal of creating shareholder value by becoming a leader in the production and delivery of low-cost, quick-to-market, quality graphite
PR-Inside.com: 2017-10-04 08:07:14
MONTREAL, QUEBEC, CANADA, October 3, 2017 /EINPresswire.com/ -- Montréal, Quebec,
SRG GRAPHITE INC. (TSXV: SRG) (“SRG” or the “Company”) is pleased to announce that members of senior management and directors will ring the opening bell on the Toronto Stock Exchange (TSX) on Monday, October 2, 2017 at 9:30 am (EDT) to celebrate the stock’s noteworthy performance since it commenced trading
Also Recently announced assay results from 12 boreholes drilled at the Company’s Lola Graphite Deposit (“Lola”) in eastern Guinea, West Africa. Nine of the 12 drill intercepts returned grades above 10% graphitic carbon (“Cg”), including 10.06% Cg over 48.0 meters (“m”) combined intercepts. These results continue to expand the high-grade potential of the Lola Graphite Deposit.
Borehole LL36-262441 returned 10.06% Cg over 48.0 m of combined intercepts, including 15.15% Cg over 22.5 m.
Borehole LL36-239433 returned 6.69% Cg over 36.0 m of combined intercepts, including 10.27% Cg over 21.5 m.
The current drilling program is aimed at producing a maiden mineral estimate for Lola’s surface weathered profile (from the surface to a depth of approximately 30 meters), which is to be included in a preliminary economic assessment scheduled for completion in Q4 2017. The weathered profile is approximately 32% thicker than SRG’s initial estimate of 20 meters, with several holes demonstrating vertical thicknesses of up to 50 meters.
Recently completed 3 million of the non-brokered private placement (the “Private Placement”) announced on August 15, 2017 with Coris Capital SA.
The share price of SRG.V is poised for upward revaluation to match comparable world class deposits as it advances, fully capitalized, toward scoping study by end of 2017, and Feasibility/production decision in mid-2018.
Resource size potential; 8.7 km long graphite deposit with an average width of 370m at surface, this Mining Journal projects* (non 43-101) upwards of 150 years of production in the top 20 meters of weathered material alone.
Flake size advantage; 89% of graphite flakes are super-jumbo, jumbo, and large (>0.18 mm).
Weathering advantage of top ~20 m; Favorable weathering action over million of years has expunged organics from top layer, and freed graphite flakes from the silicate gangue allowing for easy grinding with optimal recovery.
Grade advantage; Metallurgical tests on representative surface samples have yielded grades up to 20% carbon with no impurities.
Quick-to-market; Company is fully capitalized to rapidly and cost-effectively advance the project to PFS by end of 2017, and Feasibility by mid-2018.
Experienced & accomplished management team, skilled technical leadership, in stable mining-friendly jurisdiction, with no environment or infrastructure issues.
further information are available; www.srggraphite.com
Coverage article; miningmarketwatch.net/srg.htm
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