Graphite One Collects Rock Samples With Up To 63% Graphite and Completes 2012 Exploration Program
September 6, 2012 - Calgary, Alberta – Graphite One Resources Inc. (GPH: TSX-V, GPHOF: OTCQX) ("Graphite One" or the "Company") is pleased to announce rock grab sample results 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 and continues to build on that.
Analytical results from 506 of 591 rock grab samples collected throughout the property during mapping have now been received. The results further confirm that graphite mineralization exposed at surface extends across the property (see sample result map attached). Mapping and Sampling was focused to those areas where outcrop was exposed along both the 16km long conductor (the main trend) and the Araujo trend (the southern trend).
Of the 506 samples, 264 contains greater than 1% Cg (Graphitic Carbon) and 63 of those contain greater than 5% Cg of which 37 samples contain greater than 10% Cg (with samples up to 63.5% Cg).
“The rock grab sample results further re-iterate the presence of high grade graphite mineralization along both the main trend and the Araujo trend (28% Cg). These results continue to 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.
The field program is now complete and Graphite One Resources has now:
- Completed a total of 18 diamond drill holes with over 4,248 metres drilled. These drill holes tested the surface graphite mineralization at the Graphite Creek area along the high priority EM conductor;
- Collected 591 rock grab samples and mapped along the known EM conductor(s) to test the strike extent and grade of graphite mineralization exposed at surface;
- Completed 3 surface mini-bulk samples for mineralogy and metallurgical testing which total approximately 10.5 metric tonnes;
- Completed 32 metres of surface channel samples;
- Staked additional claims and flown an additional 506 line-kilometres of airborne geophysics (now totaling 1,505 line-kilometres).
Furthermore, “At this point we feel that we have achieved our goals which were set earlier in 2012 and look forward to the completion of our NI-43-101 compliant resource by early 2013. We are confident the resource will be significant.” stated Anthony Huston.
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.
Please Click Here for a link to the Figure
About Graphite Creek
The Graphite Creek Property comprises 89 claims totaling 4,209 hectares on the Seward Peninsula of Alaska, 65 kilometres north of Nome. Mineralization at the Graphite Creek Property is characterized by coarse crystalline (large-flake) graphite (>80mesh) within graphite-bearing schist(s). Graphite mineralization is exposed at surface. The large-flake graphite occurs as disseminations and high-grade segregations and lenses in distinctive garnet-bearing quartz biotite schist(s) and biotite schist(s). The host schist(s) is continuous over 16 kilometres of strike length, based on mapping, geophysics, and has an approximate thickness in excess of 250 metres, and is exposed down dip 200 to 250 metres, thus indicating the potential for more than 250 million tonnes of graphite-bearing rock. The estimate of potential tonnage is based on the Company’s geological mapping in 2011/12 and drilling during 2012. The potential size and grade of the mineralization at the Graphite Creek Property 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 southeast.
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.
About Graphite One Resources Inc.
GRAPHITE ONE RESOURCES INC. (GPH: TSX-V, GPHOF: OTCQX) is a mineral exploration company with extensive experience in the state of Alaska and a business strategy to identify, acquire, and explore high potential projects ready for rapid advancement. The Graphite Creek Property on the Seward Peninsula of Alaska fits with the Graphite One business strategy offering significant potential for the discovery and development of a large-flake, graphite deposit exposed at surface. Graphite One has an option to earn a 100% interest in the Graphite Creek Property and plans to rapidly advance the Property to a NI 43-101 compliant resource.
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:
President & Director
Tel: (604) 697-2862
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