Samples From Chedic Graphite Prospect Yields 25% to 40% Grade with 1,000,000 Ton Potential
LAS VEGAS, Nov. 30, 2012 /PRNewswire/ -- National Graphite Corp, (NGRC-OTCBB) is pleased to announce that the Samples from the production pit yielded a 25% to 40% grade with the potential to yield over 1,000,000 tons of graphite.
John Rud, the Company's contracted Independent Geologist reports that "…the Geophysical Survey recently completed on the Company's Chedic Graphite property showed indications in excess of an indicated depth of 1500 feet with widths ranging from 50 to 150 feet. These numbers do not include the newly discovered anomaly currently under an in-depth evaluation."
Mr. Rud concluded, "The Company's drill program currently under the permitting process has been designed to investigate the several large low resistivity anomalies that potentially represent the eastward extension of the Chedic Graphite Mine. The Chedic mining prospects physical location makes this an extremely compelling project."
The anomaly that occurs about 250 meters east of the open pit is under line 10 adjacent to a exploration trench that has exposed graphite mineralization. The low resistivity anomaly extends to a depth exceeding 500 meter and has a width exceeding 50 meters. In addition, a second anomaly was detected north of the exposed mineralization that indicate the mineralization may be over 150 meters in width. The proposed drilling will intersect the anomalies and determine the grade of the graphite mineralization for the two geophysical anomalies.
The second drill target is located 300 meters east of line 10 directly beneath line 7. The low resistivity zone continues to a depth exceeding 350 meters with a width exceeding 30 meters. The preliminary 5 hole drill program will intersect the anomaly and determine the extent and grade of the graphite mineralization between the two very pronounced geophysical anomalies.
London based resource market analyst Roskill Information Services is predicting significant shifts in the supply and demand dynamics of the natural and synthetic graphite industry.
Northern Miner Nov. 12, 2012 issue –
According to a newly released report, NATURAL AND SYNTHETIC GRAPHITE: GLOBAL INDUSTRY MARKETS AND OUTLOOK, eighth addition, graphite demand for batteries will grow 10% to 12% per annum through the next 4 years.
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. A complete "SAFE HARBOR: Disclosure" is listed on the Company's Website NationalGraphiteCorp.com under "News"
SOURCE National Graphite Corp