$GELEF Graphano Announces Start of Drilling at Lac Aux Bouleaux
Press Release | 01/13/2022
Vancouver, British Columbia--(Newsfile Corp. - January 13, 2022) - Graphano Energy Ltd. (TSXV: GEL) (OTC Pink: GELEF) (FSE: 97G0) (the "Company" or "Graphano Energy") is pleased to announce that it will start the Phase 1 drilling at its 100% owned Lac Aux Bouleaux Graphite Property (the "Property").
In 2021, the Company completed an initial phase of stripping and trenching on two of seven target areas identified on the Property. Significant channel sampling results, as highlighted in Figures 1 and 2 below, have been returned from both the Zone 1 and Zone 4 targets. Zone 4 is a new discovery which has seen no previous exploration work in the past.
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Figure 1 - Compilation of Airborne and Ground Geophysical Conductors with Phase 2 Graphite Showings - Zone 1 Results
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Figure 2 - Compilation of Airborne and Ground Geophysical Conductors with Phase 2 Graphite Showings - Zone 4 Results
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Prospecting work also located high grade graphite mineralization in the Target 6 area with grab samples assaying 12.9% C-Graph over 0.5 metres. The Target 6 area is also a new discovery with no history of previous exploration. It is important to note that the channel sample results are in most cases minimum thicknesses since the mineralization remains open for expansion.
Result Highlights:
Zone 4 (New Discovery):
The high-grade graphite mineralization discovered correlates with multiple conductive zones having a combined strike length of over 750 metres. The ground geophysical survey indicates structural thickening by folding with maximum anomaly thicknesses to 90 metres.
Channel sample results from Zone 4 include 18.0% C-Graph over 4.0 metres and 5.8% C-Graph over 8.0 metres which includes 14.8% over 3.0 metres.
Zone 1:
Similar to Zone 4, the graphite mineralization correlates with two distinct conductive zones having a combined strike length of over 1.4 kilometres. The ground geophysical survey indicates anomaly thicknesses to 50 metres.
Channel sample results include 7.9% C-Graph over 9.5 metres including 13.9% over 4.5 metres, 7.5% C-Graph over 3.5 metres and 3.9% C-Graph over 8.0 metres with 6.8% over 4.0 metres.
The Company plans to commence a first phase diamond drill program in approximately three weeks to evaluate the magnitude of graphite mineralization in the Zone 1 and 4 areas. Further prospecting, trenching and geological surveys will assess and advance to drill stage the other target areas (Zones 2, 3, 5, 6 and 7) identified thus far on the Property in April/May.
Luisa Moreno, Chief Executive Officer, commented, "We are pleased with the results of the 2021 exploration campaign that has led to the discovery of new exploration targets. We are excited to start the drilling program and we are looking forward to learning more about the potential of the various graphite showings on our Property, focusing on two out of the seven zones to start."
A total 295 samples were collected during the 2021 program from grab and trench sampling. The sample assays are in the range of less than 0.05% to 23.5% graphitic carbon (C-Graph), with about 30% with grade higher than 5% C-Graph. Each channel sample from the trenching work ranged from a minimum of 50 cm to a maximum of 100 cm long, 5 cm wide and 3-5 cm deep cut in bedrock.
The samples were bagged and tagged using best practices and were delivered to Activation Laboratories ("ACTLABS"), Ancaster, Ontario, for sample preparation and analyses using laboratories' Code 4F-C Graphitic, analyzing C-Graphite (infrared) where the sample is subjected to a multistage furnace treatment to remove all forms of carbon with the exception of graphitic carbon; and C-Total (infrared). ACTLABS is an independent commercial, accredited ISO Certified Laboratory.
All sampling was completed by and under the supervision of Mr. Martin Ethier, Géo (#1520), who is a Member of the Order of Geologists of Québec and the Qualified Person for the purpose of this news release.
Global Graphite Outlook:
The global graphite market is expected to be worth US$26.8 billion by 2025 from US$16.4 billion in 2017, registering a CAGR of 8.5% during the forecast years. The high uptake of graphite across industries will be attributable to its excellent properties of thermal shock resistance, stiffness, better strength, and a good conductor of heat and electricity.
The latest report states that the global graphite market is expected to witness a positive outlook between the forecast years of 2021 and 2025. The demand for graphite will be determined by its usage across applications such as construction, electric vehicles, foundries, refractories, and lubricants amongst others.
Source: Research and Markets - Global $26.8 Bn Graphite Market Analysis & Forecasts, 2017-2020 & 2021-2025
About Graphano Energy
Graphano Energy Ltd. is an exploration and development company that is focused on evaluating, acquiring and developing energy metals resources from exploration to production.
Graphite is one of the most in-demand technology minerals that is required for a green and sustainable world. The Company's Lac Aux Bouleaux property in Quebec, Canada, has historically been an active area for natural graphite. With the demand for graphite growing in some of the most prominent and cutting-edge industries, such as lithium batteries in electric cars and other energy storage technologies, Graphano Energy is developing its project to meet the demands of the future.
ON BEHALF OF THE BOARD OF DIRECTORS
Luisa Moreno
Chief Executive Officer and Director
E: info@graphano.com
Neither 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.
Cautionary Note Regarding Forward-Looking Statements:
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations, including the commencement of a drill program and other activities of Graphano Energy, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Company's exploration plans and the impact thereof. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Graphano Energy, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration work given the global COVID-19 pandemic, the results of exploration, continued availability of capital, and changes in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Graphano Energy does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
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