Toronto, Ontario / ACCESSWIRE / January 27, 2015 / Great Lakes Graphite Inc. (TSXV: GLK) (OTC: GLKIF) (8GL.F) ("Great Lakes" or the "Company") announced today that high grade graphite intercepts have been reported in the first batch of assay results from the Company's 2014-2015 infill and step-out drilling program at its 100%-owned Lochaber Graphite project in southwestern Quebec. Included are assay results from the first two holes: GLK-14-01 and GLK-14-02. These holes were drilled in the southern part of the main Lochaber claim group, in the vicinity of the historical Plumbago mine site.
Highlights:
GLK-14-01
-
1.6 metres grading 10.74%, including a higher grade intercept of 0.6 metres grading 12.1% graphite
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12.3 metres grading 5.3%, including a higher grade intercept of 4 metres of 8.63% graphite
GLK-14-02
- 3.35 metres grading 6.25% including a higher grade intercept of 1.55 metres of 8.44% graphite
Results Confirm Distinct High Grade Areas
"We are very pleased that these new results confirm the continuity of the mineralization within the Lochaber resource. The graphite grades we are obtaining near surface confirm our understanding in the exceptional quality of flake graphite at the Lochaber property.
SRK Consulting, our project leader, will incorporate these latest results with existing drill data to complete the project's resource estimate, which is expected in to be completed and released in the first quarter of 2015. The drilling data obtained in this program will also be applied towards the pit optimization of the mining plan during our Feasibility Study," said Paul Gorman, CEO of Great Lakes Graphite.
Table: Summary of recent assay results
| HOLE # | From (m) |
To (m) |
Length (metres) |
Mean Graphitic C (%) |
| GLK-14-01 | 17.70 | 30.00 | 12.30 | 5.30 |
| including | 24.00 | 28.00 | 4.00 | 8.63 |
| 26.15 | 28.00 | 1.85 | 9.55 | |
| 24.00 | 25.60 | 1.60 | 10.74 | |
| GLK-14-01 | 45.60 | 52.50 | 6.90 | 1.27 |
| GLK-14-01 | 56.50 | 61.00 | 4.50 | 2.1 |
| GLK-14-01 | 66.00 | 69.15 | 3.15 | 1.48 |
| GLK-14-01 | 82.35 | 85.56 | 3.21 | 6.36 |
| GLK-14-02 | 21.87 | 27.15 | 5.28 | 3.09 |
| including | 21.87 | 26.00 | 4.13 | 3.45 |
| GLK-14-02 | 32.00 | 35.00 | 3.00 | 2.33 |
| including | 38.00 | 44.00 | 6.00 | 2.08 |
| 38.00 | 42.00 | 4.00 | 2.48 | |
| GLK-14-02 | 63.65 | 67.00 | 3.35 | 6.25 |
| including | 64.15 | 65.70 | 1.55 | 8.44 |
| Highest - Hole 01 | 25.00 | 25.60 | 0.60 | 12.10 |
| 26.15 | 27.00 | 0.85 | 11.50 | |
| Highest - Hole 02 | 64.15 | 65.70 | 1.55 | 8.44 |
A map showing drill collar locations is available on the website here:
http://www.GreatLakesGraphite.com/wp-content/uploads/2015/01/PropDrilling2015-01-16.pdf
Qualified Person, Quality Control and Assurance
Mr. Martin Ethier, P.Geo., who is a Member of the Order of Geologists of Québec and a "Qualified Person" under NI 43-101, has reviewed and approved the technical content of this press release.
Great Lakes Graphite maintains a comprehensive chain of custody and QA-QC program on assays from its Lochaber Graphite Project. Half-sawn core is processed at its preparation facility in Sudbury, Ontario, before being shipped to AGAT Laboratories in Mississauga, Ontario for external assay. Industry-standard certified reference materials and blanks are inserted into the sample stream prior to dispatch to AGAT.
Graphitic carbon assays are performed using a modified infrared assay method. Great Lakes is committed to using this method in order to achieve a high level of accuracy. This method is preferable to other industry-accepted assay methods including varying forms of Loss on Ignition (LOI) testing. LOI is typically done in air and some carbonates require high temperatures to decompose, in the same range where graphite will burn increasing the possibility of the introduction of errors in the results, typically on the high side.
About AGAT Laboratories: AGAT Laboratories is a highly specialized, Canadian-based company that provides laboratory services worldwide. With over 30 years of experience, coast to coast locations and over 1,200 employees, AGAT Laboratories is the most geographically and technically diversified laboratory in Canada. AGAT's scientists are highly skilled and specialized in the fields of chemistry, biochemistry, microbiology, geology, engineering and specialty analysis.
About Great Lakes Graphite: Great Lakes Graphite Inc. is an industrial minerals company with the mandate to bring graphite projects to production through the acquisition and development of high quality graphite flake properties. Graphite has moved to the forefront of the Industrial Mineral World as a Critical Mineral required for industrial use and as a major component in the development of new technologies particularly with the advancement of battery storage, mobile battery systems and alternative energy infrastructure.
As there are currently no graphite mines producing in North America, Great Lakes Graphite has the ability to become one of the first producers to supply a growing regional customer base that requires high quality natural graphite, where pricing and demand continue to rise.
The Company, through strategic acquisitions and capable management will become a leader in the industrial minerals marketplace. The Company's flagship graphite property is located in Lochaber Township of southwestern Quebec. The Company has also entered into option and joint venture agreements with Eloro Resources Inc. (TSXV: ELO) on the Summit-Gaber Cobalt property located in the La Grande Greenstone Belt in the Baie James region of Quebec. Further information regarding Great Lakes can be found on the Company's website at: www.GreatLakesGraphite.com.
Great Lakes Graphite trades with symbol GLK on the TSX Venture Exchange and currently has 78,714,820 shares outstanding (115,278,656 fully diluted).
For more information, please contact:
Paul Ferguson
Chief Marketing Officer
Email: [email protected]
Tel: 508-769-1417
Paul Gorman
Chief Executive Officer
Email: [email protected]
Tel: 416-768-6101
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Great Lakes Graphite Inc.