NewsCEDAR MOUNTAIN EXPLORATION OPTIONS LARGE HIGH-GRADE GRAPHITE PROJECT IN ALASKA CLARIFICATION January 17, 2012 Vancouver, British Columbia - Cedar Mountain Exploration Inc. (CED: TSX-V) (“Cedar Mountain” or the "Company") is pleased to announce that the Company has entered into an option agreement to earn 100% interest in the Graphite Creek project, located in Alaska, USA. The Graphite Creek project is an approximately 1,375 hectare property on the Seward Peninsula of Alaska, 65 kilometres north of Nome. Graphite Creek is characterized by an immense scale, large-flake high-grade graphite deposit. Graphite mineralization is exposed at surface and primarily hosted by a garnet biotite quartz schist interval. The coarse crystalline flake graphite occurs as disseminations and high-grade segregations and lenses in the distinctive garnet-bearing schist. The host garnet-bearing schist interval is continuous over 5 kilometres of strike length, has an approximate thickness of 100 metres, and is exposed over dip lengths of 100 to 200 metres thus indicating the potential for 150 to 250 million tonnes of graphite-bearing rock. The estimate of potential deposit tonnage is based on the Company’s geological mapping in 2011. Four 2011 samples of the garnet-bearing schist contain 9.1 to 21.8% graphite. Sampling of high grade lenses within the garnet-bearing schist contains up to 56.9% graphite. A historical composite chip sample across a 16-m outcrop of garnet-bearing schist contained 8.36% graphite. Other schists in the area contain 2 to 6% disseminated graphite. The potential size and grade of the Graphite Creek deposit is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in discovery of a mineral resource. The property is 3 kilometres away from intertidal waters at Windy Cove, approximately 20 kilometres away from road systems, and 3 kilometres from an airstrip to the east. “The Graphite Creek project is an ideal fit with our goal of identifying, acquiring, and exploring large scale projects that have the potential to add significant shareholder value.” stated Charles Chebry, CEO. Mr. Chebry added “Cedar Mountain’s early stage work completed in 2011 corroborates with historical exploration results increasing our level of confidence that Graphite Creek will become a significant graphite deposit.” Cedar Mountain plans to aggressively advance the project in 2012 with an exploration program including sampling, mapping, conductivity surveys, and diamond drilling. The Company aims to have a resource within the next two years.
Graphite & Lithium-Ion Batteries
Terms of the Agreement The Company’s disclosure of a technical or scientific nature in this press release has been prepared by Dr. Travis Hudson, registered geologist, who serves as a Qualified Person under the definition of national Instrument 43-101. The Graphite Creek project represents an early stage property and does not contain any mineral resources as defined by national Instrument 43-101.
About Cedar Mountain Exploration Inc.
ON BEHALF OF THE BOARD
For more information on Cedar Mountain Exploration Inc. please visit the Company’s website 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 "forward-looking statements". All statements in this release, other than statements of historical facts, that address 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. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com |
||
4/29/2016 Last 0.15 Volume 1727086
Day High 0.15 Day Low 0.14
Print Page