Great Lakes hires SRK for Lochaber resource estimate
Great Lakes Graphite Inc (C:GLK)
Shares Issued 73,714,818
Last Close 12/2/2014 $0.06
Wednesday December 03 2014 - News Release
Mr. Paul Gorman reports
GREAT LAKES GRAPHITE ENGAGES SRK CONSULTING TO CARRY OUT MINERAL RESOURCE ESTIMATE ON THE LOCHABER GRAPHITE PROPERTY
Great Lakes Graphite Inc. has provided the following update on activities related to the exploration and development of the Lochaber graphite property.
NI 43-101 Resource Estimate
The Company has engaged SRK Consulting to complete the preparation of an National Instrument ("NI") 43-101-compliant Mineral Resource Estimate for the Lochaber Graphite Property located in southeastern Quebec (the "Resource Estimate"). CEO Paul Gorman said, "Soon after we began discussions regarding a Feasibility Study for the Lochaber project, it was clear that having SRK Consulting complete the work on an NI 43-101-compliant resource estimate on the Lochaber property would facilitate subsequent work on a Feasibility Study. Having SRK's name on our Resource Estimate is a way of demonstrating our ongoing commitment to the highest industry standards."
Preliminary work toward the Resource Estimate including all of the supporting data that have been used in internal studies and scenarios have been made available to SRK Consulting. "We are confident that the completion of a resource estimate on the highly prospective Lochaber Graphite Property will be a major strategic step forward in realizing value from our significant investment in this property", Great Lakes CEO Gorman commented. The company expects the Resource Estimate to be published during the first quarter of 2015.
SRK Consulting is an independent, international consulting practice providing focused advice and solutions to the earth and water resource industries. SRK provides services to mining companies that range from exploration to mine closure. Established in 1974, SRK employs more than 1,500 professionals internationally in over 50 offices on 6 continents
Fieldwork - Drill Program
A field crew and diamond drilling equipment have been mobilized to the Lochaber Graphite Property to carry out a program of 600 m of drilling that will provide additional data for the Resource Estimate and a contemplated Feasibility Study in the near future. The drilling is scheduled to commence this week.
In preparation for this program, road access to the project area has been upgraded. This program is comprised of six holes of 100 m in length that are already spotted on the ground. The holes are in-fill and step-out holes that will supplement the results of the previous drilling on the property which is being used to complete the Resource Estimate.
Mr. Martin Ethier, P.Geo., who is a Member of the Order of Geologists of Quebec and a "Qualified Person" under NI 43-101, has reviewed and approved the technical content of this press release.
