NewsGRAPHITE ONE DRILLS 165.3M OF 4.23% GRAPHITE INCLUDING 46.4M OF 6.6%, 14.3M OF 10.1% AND 21M OF 10.1% GRAPHITEAugust 7, 2012 - Calgary, Alberta – Graphite One Resources Inc. (GPH: TSX-V, GPHOF: OTCQX) ("Graphite One" or the "Company") is pleased to announce its initial drill results and an exploration update for its Graphite Creek Property. Graphite One has verified that the 16km long EM conductor is directly related to wide scale, high grade, graphite mineralization. Hole 1: 411.7 metres of 2.1% including 127.9 metres of 4.1%, and 41.73 metres of 6.7% graphite Hole 2: 353 metres of 2.7% graphite including 165.3 metres of 4.23%, 46.4 metres of 6.6% and 21 metres of 10.1% graphite “The initial drill results represent drilling along only 4% of our 16km long conductor. These exceptional results demonstrate that this will be one of the most significant, coarse flake graphite resources in the world” stated Anthony Huston, President and Director for Graphite One Resources. "These early stage results are very encouraging and in-line with our expectations and goal of producing a new and substantial NI 43-101 graphite resource based on this year's exploration program" continued Mr. Huston. Analytical results from the first 2 diamond drill holes have been received. Drill holes 12GC001 and 12GC002 (300m apart), tested graphite mineralization at the Graphite Creek area. The results confirm that graphite mineralization exposed at surface extends to vertical depths of over 250 metres (see drill hole map attached; see Table below). All drill holes will be used to produce a NI 43-101 compliant graphite resource.
*Cg – Graphitic Carbon (see cross-sections 12GC001 and 12GC002 attached) The drill holes were drilled at -50 degree dip to test true thickness of mineralization. The graphite bearing rocks dip at approximately 60 degrees and are exposed at surface along the dip slope which would be ideal with respect to an open pit mining operation and low strip ratio. Graphite One Resources has now:
Graphite One has its own core logging and sample preparation laboratory/ facility in Nome, Alaska. The sample preparation laboratory was installed, and is being managed by Actlabs, Ancaster, Ontario. This will ensure Graphite One maintains the highest level of QA/QC and ensures timely receipt of analytical results. Graphite One expects timely receipt of ongoing results. Dean Besserer, P.Geol., V.P. Exploration, manages Graphite One's exploration and development programs and is the Qualified Person as defined by National Instrument 43-101. He supervised the preparation of the technical information in this release.
About Graphite Creek Graphite One uses Actlabs (Ancaster, Ontario), an ISO/IEC 17025 accredited analytical laboratory. The technique used for determining graphitic carbon is by LECO whereby the pulp is either digested with hydrochloric and perchloric acids, or subjected to a multistage furnace treatment to remove all forms of carbon with the exception of graphitic carbon.
Graphite One Resources is committed to a regimented QA/QC program including utilizing standards, blanks and duplicates as per normal industry standards.
ON BEHALF OF THE BOARD OF DIRECTORS For more information on Graphite One Resources Inc. please visit the Company’s website, www.GraphiteOneResources.com or contact:
Anthony Huston 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. This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts that address access to capital, regulatory approvals, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com |
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