National Graphite Discovers Second High Grade Zone at its Nevada Graphite Mine
LAS VEGAS, Oct. 10, 2012 /PRNewswire/ -- National Graphite Corp (OTCBB: NGRC) is pleased to announce the Company's Phase 2 results and the discovery of a second high grade graphite zone. The survey results indicate the strike length of the conductive zone exceeds 1,500 meters with depths exceeding 500 meters. The highly conductive zone is located adjacent to a dike of basalt composition and represents a zone of high grade (+40%) graphite. The high grade graphite zone ranges from 50 to 100 meters in width. Additional zones of disseminated graphite (resistivity below 110 ohm-meters) occur to the north of the main high grade graphite zone that has been exposed and sampled in the Chedic mine open cut and trenches.
The Company purchased a 100% interest in and to the Chedic Graphite Property consisting of 20 Mineral Lode Claims in Township, 15 North, Range 19 East, Sections 25 & 26 Carson City, NV comprising approximately 400 acres and added 15 adjacent claims in September of this year bringing the total to 700 acres. The Company previously purchased 65 claims of 60 hectares each for a total of over 9,600 acres in Lochaber Township in Quebec, Canada. This property is near the Dun Raven Mines that is estimated to have in excess of four million tons of 4.1% Graphite.
Phase 2, Completed
National Graphite's CSAM/MT geophysical survey has been completed over the Chedic Graphite Mine mineral claims. The survey consisted of 15 survey lines, 100 stations, for a total of 4,250 lineal meters. Depth sections and horizontal depth slices were compiled. The -350 meter horizontal depth slice indicates two distinct high grade graphite zones approximately 100 meters in width with strike lengths exceeding 500 meters.
Further recommendations were made by the Company's geologists to complete a six (6) drill hole program to physically investigate the geophysical anomalies that represents high grade graphite mineralization.
Graphite is one of the most versatile of non-metallic minerals. Used in batteries, lubricants, brake linings, refractories and foundries, graphite can be either synthetic or natural. Natural and synthetic graphite industries operate independently and have little crossover in market share and end uses. The rise of the Lithium-ion battery has caused great excitement in the graphite industry in recent times. Demand for batteries (primarily nickel-metal-hydride and to a lesser extent Li-ion) caused a surged in graphite demand in the late 1980s through the 2000s. The growing graphite end and use 10X the graphite to lithium is used and is a critical element in the rapidly expanding electric auto market. Batteries are the fastest growing end use for graphite. Electric vehicles hold the potential to see graphite demand boom. For example, the Li-ion battery in the fully electric Nissan Leaf contains nearly 40 kg of graphite.
National Graphite to enter World Production
American production of Graphite is a national priority as China currently dominates world graphite production and represents 75% of total output. India is the second largest producer followed by Brazil, North Korea, Austria and Canada. The U.S. has no current natural graphite production but with National Graphite Corp's exploration commitment plans, this will soon change.
Contact: Kenneth B Liebscher - CEO@nationalgraphitecorp.com"Safe Harbor" Statement: Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Notice Regarding Forward Looking Statements -This press release includes forward-looking statements that involve a number of risks and uncertainties, including the success of the programs it is commercializing and developing. Further, the risks involve the ability of the Company to raise capital to fund its operations and the capital requirements for the development and marketing of its products. Investors are encouraged to review the risk factors listed or described from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE National Graphite Corp