NEW YORK, NY and WINDHOEK, NAMIBIA / ACCESSWIRE / July 24, 2014 / Next Graphite, Inc. (OTCQB: GPNE) ("Next Graphite", or the "Company"), an exploration/development stage company in Africa’s Republic of Namibia targeting the growing global graphite production industry and market demand, today announced preliminary results of its bulk sampling of graphite-bearing rock from the Company’s estimated 180,000 ton tailing heaps at its Aukum mine in Namibia.
After screening the sample, Next Graphite’s mining and geology team recovered a total of 1,432 bags of graphitic lumps from one of the four tailing heaps on the Company’s Aukam mine property. The bags weighed a total of 50 tons of graphitic material which its team of geologists visually confirmed high concentrations of graphitic lumps.
"While we work to calculate the average lump-to-waste ratios that will quantify the potential of the tailing heaps, we were pleased that our geology team of leading graphite experts from North America and Namibia visually confirmed high concentrations of natural, vein graphite in this initial bulk sample," stated Cliff Bream, CEO of Next Graphite. "To adhere to our high standards to validate graphite concentration and purity, sub-sets of this sampling will be sent for further analysis at recognized testing facilities in Namibia and South Africa and then reported back to our shareholders," Bream concluded.
On June 4, 2014 the Company provided preliminary results of its Aukum Project in a ‘Property Report’ conducted by its geology team, E12. Cited in the report were sample concentrations of natural flake graphite of as high as 68%. The Company anticipated similar concentration levels of graphite from the graphitic lumps contained within the mine heaps.
About Next Graphite, Inc.:
Next Graphite, Inc. is an exploration/development stage company targeting the growing global graphite production industry with the Company's 125,000-acre Africa-based Aukam Graphite Project. The Aukam Graphite Mine was established in 1940 in the current Republic of Namibia produced USD$30 million of graphite at today's prices. The Graphite property is estimated to still contain a significant amount of high grade, vein type graphitic material. Global graphite demand is being driven by the development of new markets for clean and efficient energy alternatives, smart grid infrastructure and military capabilities. Next Graphite has an immediately available, surface-visible, estimated 140,000-ton mine dump along with competitive projected mining and processing costs. The completion of GPNE's Aukam Graphite Mine re-launch and development activities is expected to result in a multi-million dollar inward investment into Namibia in 2014-2015.
For more information, please visit: www.nextgraphite.com
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Next Graphite Inc.’s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Africa, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements. Among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Africa, general economic conditions; geopolitical events and regulatory changes, availability of capital, the Company's ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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SOURCE: Next Graphite, Inc.