Sector
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Sector: Mining, Energy, Industrial,
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:
News Release - March 29, 2018
16:38 ET
SRG Reports on Assay Results for
Its Cobalt-Nickel-Scandium Gogota Project, and Advancing
Toward Scoping Study on World-Class Graphite Deposit, Guinea, West
Africa
NEW YORK, NY, March 29, 2018 /Sector Newswire/ --
SRG Graphite Inc. (TSX-V: SRG) this week
announced the remaining assay results
from the drilling program conducted on the Company’s cobalt-nickel-scandium project
located on SRG's
100%-owned Lola Property
in the Republic of Guinea,
West Africa. The Company
is expected
to file a maiden
cobalt-nickel-scandium mineral resource estimate in H1 2018.
SRG is juxtaposing the advancement of
two deposits of significance at the Lola Property; besides the
cobalt-nickel-scandium deposit, SRG's flagship asset is
its graphite deposit
which was recently the subject of an
initial resource
estimate. The graphite asset forms one of the largest surface
outlines in the world; property highlights include 3.22km2
of surface graphite mineralization, 89% large - super jumbo flakes,
with no impurities. The maiden graphite Resource Estimate came from focused
drilling of one small section (representing only ~15%) of the overall
deposit, and includes an initial pit-constrained indicated resource
of 4.0 million tonnes (“Mt”) grading 5.7% graphitic carbon (“Cg”)
and an inferred resource of 4.6 Mt grading 6.5% Cg, using a cut-off
grade of 3.0% Cg. This news falls on the heels of news of the
results of electrochemical characterization of its spherical
purified graphite (“SPG”) material produced from the Company’s Lola
graphite deposit, and news of the Company signing a Memorandum of
Understanding for it to supply graphite concentrate to Great Lakes
Graphite. The MOU specifies that the
Companies will seek to negotiate an agreement for the annual supply
of between 5,000 and 20,000 tons of natural flake graphite
concentrate.
-
Weathering advantage of top ~20
m; Favorable weathering action over million of years has
expunged organics from top layer, and freed graphite flakes from
the silicate gangue allowing for easy grinding with optimal
recovery.
-
Grade advantage;
Metallurgical tests on representative surface samples have
yielded grades up to 20% carbon with no impurities.
-
Quick-to-market; Company is
fully capitalized to rapidly and cost-effectively advance the
project to PFS, followed with Feasibility by mid-2018.
-
Experienced & accomplished
management team, skilled technical leadership, in stable
mining-friendly jurisdiction, with no environment or
infrastructure issues.
------ ------ ------
------ ------ ------ ------ ------ ------
Excerpt of SRG's March
26,
2018 news release regarding its Cobalt-Nickel-Scandium Gogota Project:
[NOTE:
Cobalt prices have experienced surging demand from the electric
vehicle (EV) sector and prices are
forecasted to remain strong.]
SRG Reports on Assay Results for Its
Cobalt-Nickel-Scandium Gogota Project
MONTREAL, March 26, 2018 (GLOBE NEWSWIRE) --
SRG Graphite Inc. (TSXV:SRG) (“SRG”
or the “Company”) today announced
SRG Graphite Inc. (TSXV:SRG) (“SRG”
or the “Company”) today announced the
remaining assay results from the drilling
program conducted on the Company’s
cobalt-nickel-scandium Gogota project in
Guinea, West Africa. With these latest assay
results, the Company is now in a position to
produce a maiden resource estimate.
To complete the resource estimate, the
Company has engaged Montréal-based Met-Chem,
a division of DRA Americas Inc. (“Met-Chem/DRA”).
The Gogota cobalt-nickel-scandium occurrence
has a prospective surface outline of 1.96 km2 and
is approximately 5km away from the Company’s
Lola graphite deposit. The study will
commence immediately with completion of the
National Instrument 43-101 compliant
resource estimate expected in H1 2018.
Press release highlights:
-
25m @ 0.21%
cobalt, 1.37% nickel and 32gr/ton
scandium
-
23m @ 0.18%
cobalt, 1.27% nickel and 39gr/ton
scandium
-
Company hires
Met-Chem/DRA for the completion of a
43-101 compliant resource estimate for
the Gogota Project
Of the 51 vertical drill holes carried out
over the Gogota Deposit in 2012-2013, 31
were drilled over a 200-meter by 400-meter
grid and 20 were drilled over a 200-meter by
200-meter grid. The first phase of samples
from 31 drill holes representing 800 samples
were sent for analysis in 2013 and returned
significant cobalt (“Co”), nickel (“Ni”),
and scandium (“Sc”) results, among others.
These results were reported again by the
Company on January
23, 2018. The second phase of 20 drill
holes representing 425 samples were recently
sent for analysis. The combined mineralized
intervals for all boreholes are presented in
Table 1. A compilation map can be seen in Figure
1.
“These latest assay
results continue to demonstrate that the
Gogota Co-Ni-Sc deposit, discovered by Dr.
Audet in 2010 has great potential,”
said Ugo Landry-Tolszczuk, President and
Chief Operating Officer, SRG. “We
look forward to working with Dr. Audet and
the Met-Chem/DRA team to complete the maiden
resource in the coming months.”
Table 1: Combined Mineralized
Interval Highlights (True Widths)
HOLE-ID |
From |
Length |
Co |
Ni |
Scandium |
Fe |
MgO |
SiO2 |
Al2O3 |
|
m |
m |
% |
% |
gr/t |
% |
% |
% |
% |
GG24-400800 |
15.50 |
5.50 |
0.18 |
0.75 |
37.28 |
45.90 |
0.26 |
9.92 |
12.29 |
GG24-600800 |
9.00 |
16.00 |
0.17 |
1.39 |
26.88 |
51.80 |
0.43 |
3.94 |
4.66 |
GG24-800400 |
2.00 |
18.20 |
0.19 |
1.43 |
45.06 |
52.19 |
0.38 |
3.33 |
4.99 |
GG24-800600 |
3.70 |
13.50 |
0.22 |
1.27 |
29.18 |
51.32 |
0.48 |
8.29 |
3.29 |
GG24-800800 |
4.00 |
20.80 |
0.15 |
1.41 |
29.62 |
53.42 |
0.60 |
4.51 |
4.05 |
GG25-200200 |
5.00 |
14.50 |
0.13 |
1.30 |
33.11 |
51.24 |
0.42 |
7.83 |
3.11 |
GG25-200400 |
6.00 |
10.00 |
0.13 |
1.19 |
30.00 |
48.02 |
0.33 |
13.22 |
2.74 |
GG25-200600 |
8.00 |
3.00 |
0.17 |
1.28 |
35.30 |
52.03 |
0.62 |
3.01 |
5.15 |
GG25-200800 |
11.00 |
19.00 |
0.17 |
1.29 |
27.90 |
53.40 |
0.53 |
2.95 |
3.49 |
GG25-400200 |
4.00 |
14.50 |
0.18 |
1.52 |
31.73 |
53.29 |
0.30 |
6.38 |
3.49 |
GG25-400400 |
12.50 |
20.00 |
0.17 |
1.53 |
24.77 |
49.87 |
0.37 |
5.47 |
5.56 |
GG25-400600 |
7.00 |
16.00 |
0.16 |
1.36 |
29.88 |
50.14 |
0.76 |
4.30 |
6.73 |
GG25-400800 |
8.00 |
17.80 |
0.16 |
1.25 |
24.50 |
50.90 |
0.69 |
4.04 |
5.67 |
GG25-600400 |
0.00 |
7.50 |
0.13 |
1.08 |
20.91 |
40.14 |
0.63 |
9.86 |
14.09 |
GG25-600600 |
3.80 |
14.40 |
0.13 |
1.52 |
25.23 |
44.64 |
1.30 |
7.45 |
10.35 |
GG25-600800 |
6.00 |
22.00 |
0.17 |
1.46 |
32.62 |
44.39 |
1.14 |
6.94 |
10.91 |
GG34-400200 |
1.50 |
6.90 |
0.13 |
1.58 |
40.30 |
44.14 |
2.73 |
9.75 |
8.21 |
GG34-400400 |
3.00 |
1.50 |
0.11 |
0.90 |
33.84 |
27.56 |
3.00 |
38.39 |
7.28 |
GG34-600200 |
1.50 |
17.90 |
0.20 |
1.38 |
26.91 |
47.19 |
1.08 |
6.02 |
7.77 |
GG34-600400 |
3.00 |
22.00 |
0.17 |
1.51 |
28.61 |
48.59 |
0.69 |
4.47 |
7.00 |
GG34-600600 |
7.00 |
25.00 |
0.21 |
1.37 |
32.41 |
47.73 |
1.60 |
5.97 |
6.20 |
GG34-600800 |
1.00 |
8.50 |
0.18 |
1.28 |
34.71 |
44.66 |
0.49 |
6.26 |
11.74 |
GG34-800200 |
2.10 |
12.00 |
0.24 |
1.16 |
32.63 |
48.08 |
0.49 |
5.11 |
10.11 |
GG34-800400 |
15.00 |
3.00 |
0.17 |
1.53 |
37.50 |
48.63 |
1.12 |
9.61 |
6.33 |
GG34-800600 |
6.00 |
23.00 |
0.18 |
1.27 |
39.14 |
51.63 |
0.40 |
3.63 |
4.89 |
GG34-800800 |
5.50 |
12.50 |
0.16 |
1.42 |
31.20 |
50.25 |
1.18 |
6.81 |
5.97 |
GG35-200200 |
14.00 |
16.00 |
0.16 |
1.33 |
23.13 |
49.83 |
0.34 |
8.75 |
3.43 |
GG35-200600 |
10.50 |
10.00 |
0.22 |
1.51 |
26.50 |
46.95 |
1.04 |
7.94 |
6.22 |
GG35-200800 |
2.60 |
16.40 |
0.21 |
1.26 |
28.42 |
48.62 |
0.84 |
3.93 |
7.64 |
GG35-400200 |
0.00 |
14.10 |
0.17 |
1.39 |
23.95 |
48.09 |
0.61 |
4.86 |
8.53 |
GG35-400400 |
0.90 |
4.40 |
0.21 |
1.27 |
31.49 |
50.04 |
0.84 |
6.62 |
6.42 |
GG35-400600 |
4.00 |
2.50 |
0.14 |
1.16 |
30.00 |
42.41 |
0.92 |
13.51 |
10.98 |
GG35-400800 |
3.00 |
8.00 |
0.18 |
1.19 |
36.25 |
49.11 |
0.80 |
5.71 |
8.77 |
GG35-600200 |
1.50 |
12.50 |
0.15 |
1.33 |
29.62 |
40.82 |
1.47 |
11.44 |
12.14 |
GG35-600400 |
1.60 |
1.60 |
0.27 |
0.51 |
13.75 |
31.37 |
0.29 |
7.15 |
25.89 |
GG35-600600 |
7.00 |
15.50 |
0.14 |
1.80 |
22.09 |
41.77 |
4.72 |
13.43 |
6.12 |
GG35-600800 |
2.00 |
16.40 |
0.13 |
1.65 |
29.46 |
49.25 |
0.75 |
8.21 |
5.24 |
GG44-600200 |
1.50 |
1.50 |
0.12 |
0.58 |
20.00 |
32.64 |
0.21 |
18.54 |
19.08 |
GG44-800200 |
8.50 |
14.00 |
0.21 |
1.45 |
36.43 |
49.57 |
0.45 |
5.61 |
5.98 |
GG44-800400 |
8.00 |
7.50 |
0.18 |
0.69 |
38.26 |
42.53 |
1.70 |
13.26 |
10.46 |
GG45-200200 |
4.50 |
1.60 |
0.22 |
1.28 |
26.25 |
44.55 |
1.21 |
9.93 |
9.39 |
GG45-200400 |
1.50 |
24.50 |
0.16 |
1.37 |
26.47 |
50.99 |
0.68 |
4.73 |
5.28 |
GG45-400200 |
2.30 |
7.40 |
0.15 |
0.95 |
38.91 |
41.86 |
0.58 |
12.44 |
13.18 |
*Measurements begin at surface.
Mineralized intervals defined using 0.10%
cobalt cut-off grades.
Fe: Iron, MgO: Magnesium oxide, g/t:
grams per tonne
Figure 1: Image of boreholes and
results
Core logging and sampling were performed at
the Company’s facility in the village of
Gogota. Sample preparation was performed by
Veritas Laboratory in Abidjan, Côte
d’Ivoire. Pulp samples were delivered to
Activation Laboratories Ltd., Ancaster,
Ontario, Canada. All samples were assayed
for cobalt, nickel and all major oxides
using peroxide fusion XRF. Scandium was
determined by inductively coupled plasma
optical emission spectrometry.
The technical information in this release
has been reviewed and approved by Dr.
Marc-Antoine Audet, PhD Geo., P.Geo, Lead
Geologist, SRG and a 'qualified person' as
defined by National Instrument 43-101,
Standards of Disclosure for Mineral
Projects.
About Met-Chem/DRA
The Met-Chem division of DRA Americas was
originally established in 1969 as a
consulting engineering company,
headquartered in Montréal, and provides a
wide range of technical and engineering
services. Met-Chem is well recognized for
its capabilities in mining, geology and
mineral processing and has a talented team
of engineering, technical and project
management personnel with experience in
North America, Latin America, Europe, West
Africa and India. DRA is a multidisciplinary
global engineering group that originated in
South Africa and delivers mining, mineral
processing, energy, water treatment and
infrastructure services from concept to
commissioning, as well as comprehensive
operations and maintenance services for the
mineral resources, water, agriculture and
energy sectors. DRA has offices in Africa,
Australia, Canada, China, India and the
United States.
ABOUT SRG
SRG is a Canadian-based company focused on
developing the Lola graphite deposit and the
cobalt-nickel-scandium deposit located in
the Republic of Guinea, West Africa. SRG is
committed to operating in a socially,
environmentally and ethically responsible
manner. ...
...click
here for full copy of release from
source |
------ ------ ------
------ ------ ------ ------ ------ ------
Excerpt of SRG Graphite's December 22, 2017 release on the maiden
Resource Estimate on its graphite deposit:
SRG Graphite to File Maiden Mineral Resource
Estimate for its Lola Graphite Deposit
MONTREAL, Dec. 22, 2017 (GLOBE NEWSWIRE) -- SRG
Graphite Inc. (TSX-V:SRG)(“SRG”
or the “Company”) is pleased to report its
initial resource estimate for its 100%-owned Lola
Graphite Deposit located in the Republic of Guinea. The
mineral resource estimate, prepared by Montréal-based
Met-Chem, a division of DRA Americas Inc. (“Met-Chem/DRA”),
includes a pit-constrained indicated resource of 4.0
million tonnes (“Mt”) grading 5.7% graphitic carbon
(“Cg”) and an inferred resource of 4.6 Mt grading 6.5%
Cg, using a cut-off grade of 3.0% Cg.
Mineral resources were based on 170 boreholes for 4,936
meters drilled prior to September 30, 2017. Since that
time, an additional 100 diamond drill holes were
completed, totaling approximately 7,200 meters. Assay
results for these additional holes are pending.
The Company has planned an additional 6,000 meters of
drilling, scheduled to take place in 2018.
SRG will file an NI 43-101 technical report supporting
the mineral resource estimate to SEDAR within 45 days of
the issuance of this press release.
“The Met-Chem/DRA resource estimate demonstrates the
exceptional potential of the Lola project and marks yet
another significant milestone for the Company,” said
Marc-Antoine Audet, President and Chief Executive
Officer of SRG. Based on the foregoing results, the
Company has decided to review the scope of the ongoing
preliminary economic assessment launched in September.
Resource Summary
The mineral resource for the Lola project incorporates
assay results from 170 diamond drill holes representing
4,936 meters, as well as 1,326 meters of surface channel
sampling. The maiden resource is established for the
oxide profile of the deposit, from surface to a depth
ranging between 20 and 50 meters with an average
thickness of 32 meters. The mineralization continued at
depth within the fresh rock material. The area for the
maiden resources covers approximately 18% of the
deposit’s 3.2-square-kilometer surface area.
The estimate was prepared using a block model
constrained with 3D wireframes of the principal
mineralized domains. Values for graphitic carbon were
interpolated using Ordinary Kriging (OK) interpolation
methodologies on 10 × 10 × 2m blocks. A preliminary
open pit optimization algorithm was run on the estimated
grade block model to constrain the resources and to
support the Canadian Institute of Mining, Metallurgy and
Petroleum’s (“CIM”) requirement that mineral resources
have “reasonable prospects for eventual economic
extraction.” Only mineralization contained within the
preliminary pit shell has been included in the resource
estimate.
The base case mineral resource estimate is summarized in
the following table at a cut-off grade of 3.0% Cg per
tonne (“t”) together with estimate sensitivities at
1.23% Cg/t and 5.0% Cg/t. The resource estimate and
sensitivities scenarios are established with data from
boreholes drilled by September 30, 2017.
Table 1:
Lola Graphite Project Maiden Mineral Resources at a
cut-off grade of 3.0% Cg and sensitivities at 1.23%Cg
and 5.0% Cg cut-off grades of CG.
Base Case Mineral Resources |
|
|
|
Cut-off-grade |
Classification |
Tonnes |
Cg |
In situ Cg |
Cg % |
|
t |
% |
t |
3%
|
Indicated |
3,961,417 |
5.66 |
224,118 |
Measured |
|
|
|
Total Ind. & Meas. |
3,961,417 |
5.66 |
224,118 |
Inferred |
4,616,787 |
6.45 |
297,783 |
|
|
|
|
|
Sensitivities |
|
|
|
|
Cut-off-grade |
Classification |
Tonnes |
Cg |
In situ Cg |
Cg % |
|
t |
% |
t |
1.23%
|
Indicated |
6,825,820 |
4.19 |
285,802 |
Measured |
|
|
|
Total Ind. & Meas. |
6,825,820 |
4.19 |
285,802 |
Inferred |
7,563,830 |
4.76 |
360,038 |
|
|
|
|
|
Cut-off-grade |
Classification |
Tonnes |
Cg |
In situ Cg |
Cg % |
|
t |
% |
t |
5%
|
Indicated |
1,860,404 |
7.70 |
143,168 |
Measured |
|
|
|
Total Ind. & Meas. |
1,860,404 |
7.70 |
143,168 |
Inferred |
2,413,469 |
8.71 |
210,213 |
Notes:
-
CIM definitions (May 10, 2014) observed for
classification of mineral resources.
-
Block bulk densities interpolated from specific
gravity measurements taken from core samples.
-
Resources are constrained by a Lersch Grossman (LG)
optimized pit shell using MineSight software.
-
Pit shell defined using 30-degree pit slope,
$1,300/t of concentrate (94.6% Cg grade), $2.00/t
mining costs, $8.54/t processing costs, and $3.50/t
G&A and $175/t of concentrate for transportation
costs.
-
Mineral resources are not mineral reserves and have
no demonstrated economic viability. The estimate of
mineral resources may be materially affected by
mining, processing, metallurgical, infrastructure,
economic, marketing, legal, environmental, social
and governmental factors (“Modifying Factors”).
-
Numbers may not add due to rounding.
-
Effective Date of Resource estimate is September 30th,
2017
About Met-Chem/DRA
Met-Chem, a division of DRA Americas Inc., was originally
established in 1969 as a consulting engineering company,
headquartered in Montréal, and provides a wide range of
technical and engineering services. Met-Chem is
well-recognized for its capabilities in mining, geology and
mineral processing and has a talented team of engineering,
technical and project management personnel with experience
in North America, Latin America, Europe, West Africa and
India. DRA is a multi-disciplinary global engineering group
that originated in South Africa and delivers mining, mineral
processing, energy, water treatment and infrastructure
services from concept to commissioning, as well as
comprehensive operations and maintenance services for the
mineral resources, water, agriculture and energy sectors.
DRA has offices in Africa, Australia, Canada, China, India
and the United States.
Qualified Person
Met-Chem/DRA’s consultant, Ghislain Deschenes, P. Geo was
responsible for estimating the mineral resources and has
reviewed and approved the contents of this press release.
Mr. Deschenes is a Qualified Person ("QP"), independent of
SRG Graphite, within the meaning of NI 43-101 – Standards of
Disclosure for Mineral Projects of the Canadian Securities
Administrators.
The Lola Graphite Project is under the direct supervision of
Marc-Antoine Audet, P.Geo., President and CEO, SRG, and a QP
as defined by National Instrument 43-101. Mr. Audet has
approved the scientific and technical content of this press
release.
About SRG Graphite Inc. (SRG)
SRG is a Canadian-based company focused on developing the
Lola Graphite Deposit, located in the Republic of Guinea,
West Africa. SRG is committed to operate in a socially,
environmentally and ethically responsible manner.
For additional information, please visit SRG’s website at www.srggraphite.com.
For more information contact:
SRG Graphite Inc.
Dr. Marc-Antoine Audet, President & CEO
Tel.: (514) 726-4158
Email: ceo@srggraphite.com
Jean-Paul Blais
NXT Communications
Tel.: +1 (514) 867-7447
Email: jp@thenxtgroup.com
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and assumptions and accordingly, actual
results and future events could differ materially from those
expressed or implied in such statements. Forward-looking
statements include words or expressions such as
“high-potential”, “expects", and other similar words or
expressions. You are hence cautioned not to place undue
reliance on forward-looking statements. Additional
information on these and other factors that could affect
SRG’s operations and financial results are included in
reports on file with Canadian securities regulatory
authorities and may be accessed through the SEDAR website (www.sedar.com).
...click
here for full copy of news release from source.
|
SRG Graphite Inc. is poised for additional significant upside
revaluation:
SRG.V currently has a market cap of ~C95 million (~58 million
shares outstanding trading at ~$1.64/share, with no warrant pressure
over its head (~65M fully diluted)), miniscule compared to other
companies with meaningful graphite deposits in the world (see
comparison further below) which SRG has advantages over in terms of
quality. The share price is apt to appreciate as the Company
accomplishes near-term milestones. SRG Graphite Inc., was recently
formed (in January 2017) as a standalone Company to receive its
flagship asset (the Lola Graphite Property) from Sama Resources
(which is busy advancing its own flagship asset in another African
country). Sama Resources retains ~43% of the outstanding shares of
SRG after the spin-out and recent capitalization, Coris Capital out
of Africa owns ~13%, and insiders own ~4% = ~60% in total in very
strong hands.
We have identified the
following research links for further DD on SRG Graphite Inc.
This release may
contain forward-looking statements regarding future events that
involve risk and uncertainties. Readers are cautioned that these
forward-looking statements are only predictions and may differ
materially from actual events or results. Articles, excerpts,
commentary and reviews herein are for information purposes and are
not solicitations to buy or sell any of the securities mentioned.
Readers are referred to the terms of use, disclaimer and disclosure
located at the above referenced URL(s).
SOURCE: Sector Newswire editorial
editorial@SectorNewswire.com
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