Graphano Energy drills first hole at LAB Graphite Project.
Graphano Energy Ltd. (TSXV: GEL) (OTCQB: GELEF) (FSE: 97G0) (the “Company” or “Graphano Energy”) announce that Phase 1 drilling activity has commenced at its 100% owned Lac Aux Boulea.
ux Graphite Property (“LAB”, the “LAB Property” or the “Property”) in Quebec (see Figure 1). Drilling contractor Forage Hébert Inc. of Amos, Quebec, has been awarded the contract for the drill program.
The Company plans to complete approximately 20 holes totaling 2,800 meters NQ size core drilling on the Property. The program will focus on Zones 1 and 4 where 2021 surface trenching and sampling programs identified significant grades and widths of graphite mineralization (see Graphano mews release dated January 13, 2022), including:
- Channel sample results from Zone 1 include 7.9% Cg over 9.5 meters including 13.9% over 4.5 meters; and
- Channel sample results from Zone 4 include 18.0% Cg over 4.0 meters and 5.8% Cg over 8.0 meters which includes 14.8% over 3.0 meters.
The intent of the drill program is to evaluate the characteristics and magnitude of mineralization in these two zones. The program will be the Company’s initial step in building a current Canadian Institute of Mining Metallurgy and Petroleum (CIM) / National Instrument 43-101 compliant mineral resource on the Property.
Zones 1 and 4 are just two of the eight prospective targets which have been defined on the Property to date through the Company’s surface trenching and sampling programs completed in 2021, as well as a compilation of historical drilling and other exploration data.
The most relevant historical data is from Orrwell Energy Corp.’s 1980s program consisting of 79 diamond drill holes totalling 19,550 feet (5,958 metres) and resource estimation work. This historical drilling is located on the southern portion of the Property outside the eight target zones recently defined (see Figure 2).
The resource estimation resulted in an historical resource of 1,320,847 tons at 9% Cg, or 1,452,932 tons at 8% Cg (Source: Douglas Parent 1982, MRNF report GM46736, also see Graphano’s technical report available under the Company’s profile on SEDAR (www.sedar.com)).
Note: The above historical resources were calculated by block models using different cut-off grades, and a specific gravity of 2.76. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources. The Company is not treating the historical estimate as a current mineral resource or reserve.
Luisa Moreno, Chief Executive Officer, commented:
We are pleased that the drilling program is now under way and we will be spending the next four to six weeks performing exploratory drilling in two of the eight new target areas.
“An important asset of LAB is its metallurgy. The Property contains a high proportion of large and jumbo flakes from which a high purity concentrate was proven to be produced across all flakes by a simple flotation process. We also have the historical resource site that will be investigated as we prepare to build a resource.”
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Mr. Martin Ethier, Géo (#1520), who is a Member of the Order of Geologists of Québec and a “Qualified Person” under National Instrument 43-101, and Afzaal Pirzada, who is a member of the Association of Professional Engineers and Geoscientists of British Columbia with license No. 28657.
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. Our 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, we are developing our project to meet the demands of the future.
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Graphano Energy Drills First Hole at LAB Graphite Project, VANCOUVER, BC, February 4, 2022
