‘Part 1’ of Bulk Testing Phase is Sampling Post-Screened, Graphite-Rich Rock for Laboratory Testing and Grading
NEW YORK and WINDHOEK / ACCESSWIRE / August 28, 2014 / Next Graphite, Inc. (OTCQB: GPNE) ("Next Graphite", "GPNE" 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 the completion of its Bulk Screening program and its transition into “Part 1” of its Bulk Testing Phase of graphite-bearing rock from the Company’s estimated 140,000 ton mine heaps.
After screening 500 tons of graphitic rock from its tailing heaps during GPNE’s Bulk Screening Phase, the Company calculated a preliminary lump-to-waste ratio of 1:3. GPNE was also able to meet its goals of screening 300 tons of material in a 15 day period, with 12 workers. The results of GPNE’s screening process, ratios of its lump yield, and planned increases in daily screening yields will be calculated into the Company’s economic plans for its future processing plant. As required in the Company’s Bulk Screening program, GPNE was also reporting its findings and progress to the Namibian Ministry of Mining for the Company’s Environmental Impact Assessment (EIA).
Next Graphite has now entered ‘Part 1’ of its Bulk Testing Phase. During ‘Part 1’ of Bulk Testing, GPNE will prepare samples from 500 tons of stockpiled, finely screened graphitic rock and samples from 100 tons of graphitic lumps. The samples of both yields will be sent for laboratory testing and grading at Gecko Laboratories in Namibia and SGS Lakefield’s facilities in Canada. The result of Next Graphite’s ‘Part 1’ and future, ‘Part 2’, of its Bulk Testing Phase will confirm the quality, grade, and size of its natural, flake graphite.
"The pace at which our team is passing through our evaluation phases and the results from each phase is encouraging," began Cliff Bream, CEO of Next Graphite. "Now having completed the Phase in which we are able to collect, screen, yield, and then sample our 140,000 tons of tailings on the property, we are eager to determine the value of this standing, readily-available asset. It will provide us a peek into the caliber of materials we would find on the property’s other vein lodes. Most importantly, these early stages of evaluation and testing will provide our shareholders a peek into the long-term value of our Aukam property," Bream concluded.
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 are 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.