March 31, 2015, Toronto: Great Lakes Graphite Inc. (“GLK” or the “Company” TSX-V:GLK, OTC:GLKIF, FWB:8GL) is pleased to announce that the Company has confirmed the presence of (98%) hydrothermal lump vein graphite through metallurgical testing at the Lochaber Graphite Property in southwestern Québec. The material from the veins had been collected as part of the bulk sample but had not been previously identified as most of the sample had been ground for testing purposes.
The discovery was made and confirmed last week by Process Research Ortech, (“PRO”) in Mississauga, Ontario during a routine head grade analysis of the bulk sample (completed last August) on the -140 graphitic material, which represents more than 20% of the deposits’ particle size distribution average. The initial analysis was necessary to grade the material to outline its economic value for GLK’s upcoming feasibility study and resource estimate.
The samples were then sent to AGAT Laboratories in Mississauga, Ontario for additional analysis where all assays for graphitic carbon, performed using the IR assay method, yielded results higher than 98%.
Additional graphite material which will assist in building an economic model is currently being analyzed at PRO. Purity testing has also commenced and the Company is planning to collect additional material from the Lochaber Property over the next two weeks, subject to ground conditions.
The primary characteristic of hydrothermal graphite which makes it so valuable is the ability to create a very high purity concentrate. Upgrading graphite to the high purity levels required for high technology applications involves energy intensive processes. Material that can be concentrated to 98%+ by floatation methods has high potential as an input to the process that purifies material further, up to 99.9%+.
The area’s geology is well known for hosting this type of metamorphic-hosted vein-type graphite deposits, long known to occur in the Outaouais region of southern Québec. Other examples of this type of deposit, mostly in granolithic terrain, are found in Sri Lanka and India.
Vein or hydrothermal graphite is characterized by coarse flakes with a high degree of purity and crystallinity, which is required for new technological applications.
Deposits of vein graphite originate from the remobilization of carbon as carbon dioxide and methane in metamorphic fluids at the base of the crust are channeled upward along major fractures where the deposition of graphite is triggered by chemical changes in the fluids in response to cooling and dewatering.
Fluid transport and graphite deposition imply that structures played a major role in the location and shape of the resulting deposit. The formation of carbon in veins takes place at high temperatures, which favors the precipitation of large and well-crystallized graphite bodies.
Based on the Lochaber Graphite Property having disseminated flake and extremely pure vein flake means that the property may be located in a transition zone where both types of graphite have mineralized.
Paul Gorman, CEO of Great Lakes commented on this discovery “The focus of the work on our resource estimate to date has been on the flake graphite within the deposit at Lochaber. Given the magnitude of the potential positive economic impact of this development and after careful consideration, the management team, and its consultants have made the decision to incorporate this development into the resource estimate that is in progress.”
“While this will necessarily extend the target date for delivery of the resource estimate, it is a matter of several weeks and not months to accomplish this. Our shareholders are highly supportive of our efforts to build sustainable value for the long term and they understand that delivering the most complete report possible must be our highest priority”.
Martin Éthier, P.Geo., is an independent qualified person under National Instrument 43-101, and has reviewed and approved the technical information provided in this news release.
About Great Lakes Graphite: Great Lakes Graphite Inc. is an industrial minerals company focussed on bringing carbon products to a well defined market through a vertically integrated supply chain.
As there is currently no significant graphite production in North America, Great Lakes Graphite has the ability to become one of the first domestic suppliers to a growing regional customer base that requires high quality natural graphite, where pricing and demand continue to rise.
The Company, through strategic acquisitions and capable management intends to become a leader in the industrial minerals marketplace.
The Company through its Innovations Division is currently recommissioning an Ontario based Micronization Facility for re-start in late 2015 to achieve the following objectives:
- Establish a position in the upgraded graphite products market with North American customers.
- Create a competitive and disruptive advantage by leveraging existing assets.
- Pursue an accelerated timeline to cash flow and revenue by micronizing and upgrading flake graphite, enabled by supply agreements with current graphite producers.
The Lochaber Graphite Deposit is located just 30km east of Ottawa, in southwestern Québec. The Company has also entered into option and joint venture agreements with Eloro Resources Inc.(TSXV:ELO) on the Summit-Gaber Cobalt property located in the La Grande Greenstone Belt in the Baie James region of Québec. Further information regarding Great Lakes can be found on the Company’s website at: www.GreatLakesGraphite.com.
Great Lakes Graphite trades with symbol GLK on the TSX Venture Exchange and currently has 81,314,820 shares outstanding (110,202,456 fully diluted).
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