Canada Carbon begins trenching on new anomalies
2014-08-07 09:33 ET - News Release
Mr. Bruce Duncan reports
CANADA CARBON PROVIDES UPDATE ON ITS EXPLORATION PROGRAM
Canada Carbon Inc.'s trenching over the VTEM (versatile time-domain electromagnetic) E1 target induced polarization (IP) anomalies (see news release dated June 26, 2014) has revealed graphite mineralization in the southern area of the geophysics grid. The discoveries suggest a high potential for the extension of the conductor and chargeability anomalies beyond the original boundaries of the IP grid. The IP grid was extended to the northeast, northwest and southeast, more than tripling the area of the survey, to now exceed the area of the original VTEM target. The second IP survey started on July 17, 2014, and was completed on July 22, 2014. The company received geophysical maps and recommendations on July 29, 2014, and began a new trenching program on July 30, 2014, to verify the anomalies generated by the extended IP survey. The geological data generated from the trenching programs will be utilized, in conjunction with the IP responses, to select targets for a drill program which is expected to begin shortly.
Following the first IP survey on the VTEM E1 anomaly, trenching and/or stripping were done over the four main IP anomalies to reveal the bedrock structures over the geophysical anomalies, ideally providing geological confirmation of the possible physical sources of the IP responses. Disseminated graphite was found in most of the exposures, and drilling will be necessary to find the anomalies sources. The most interesting results was provided by a trench over anomaly E1-6 on line 0, where multiple graphite veins were found over a one-metre width within a graphitic skarn. The skarn can be followed over the trench length of 15 metres, extending toward the southeast and beyond the geophysical grid. Twenty metres on strike from the southeast extension of the skarn, and also outside of the initial IP grid, a former exploration pit was discovered, which showed graphite vein mineralization. It does not appear as if any of this graphitic material was removed from the area, as the pit is surrounded by piles of graphite-containing blocks. Additionally, a 20-centimetre block of lump graphite was discovered south of the initial geophysical grid. In the immediate area of the block, a subcrop of marble, pegmatite and graphitic skarn was discovered, which is similar to the mineralization of the historic Miller mine.
IP anomaly E1-6, on line 0, was modelled as lying at 20 metres to 30 metres depth. For that reason, the bedrock graphite vein discoveries revealed by trenching there were somewhat unanticipated. These veins of graphite would strongly suggest that a graphite-rich body is the source of the anomaly at depth. Because the modelled chargeability axis E1-6 crossed the entire 150-metre width of the original IP grid, and remained strong at the boundaries, the company decided to extend the geophysical grid toward the northwest and southeast to gather further data on the open extensions of the targets. Additional survey lines were also placed at the northeast extension of each previous IP line to better define the strong anomaly E1-8. Maps of the new survey can be found on Canada Carbon's website.
Trenching is being carried out over the new anomalies to quickly find surface indicators that can be associated with the anomaly sources. The trenching program primarily targets extensions to anomalies E1-4, E1-6, E1-7 and E1-8 that are continuous over most of the grid area. On the southeast portion of the second IP survey, the E1-4 and E1-6 anomalies connect together to form a large anomaly that will be a prime target for drilling. Any graphite mineralization which is discovered will be subject to channel sampling and assaying. The company is currently selecting collar locations for a phase 1 drill program that will test the most significant anomalies generated by both of the IP surveys. A minimum of 400 metres of drilling in seven different drill holes has already been selected based on the IP and trenching results.
Executive chairman and chief executive officer R. Bruce Duncan stated: "The extension of the geophysics grid allowed us to go beyond the boundaries of the original VTEM target zone and will ensure that we have fully assessed the potential of the E1 target. The graphite vein discoveries in the southern area of the geophysics grid indicate that graphite mineralization is the conductive source of the geophysical anomalies at shallow depth. That area is of high interest to the company due to its geological similarities with the historic Miller mine area. Although the company already has developed numerous drill targets for our planned summer drill program, the new survey will hopefully provide additional anomalies to drill, and so will increase the discovery potential for a large graphite vein system at E1."
Update on the bulk sampling program
Canada Carbon has contracted with SGS Canada (Lakefield) to scale up the highly successful bench-scale flotation concentration process, which yielded 100 per cent total carbon in the largest crystal sizes (see press release dated June 4, 2014), to pilot-plant scale. In order to proceed, SGS has had to source and obtain additional equipment, which has delayed the initiation of this engineering work, now scheduled to begin on Aug. 20, 2014. Because of this delay and the prolonged winter weather in Quebec, the company has obtained a written extension of the bulk sample treatment deadline to Feb. 15, 2015, from the Quebec Ministry of Natural Resources. The original permit had required end of treatment by Sept. 15, 2014 (see press release dated March 10, 2014). The processing will be conducted in phases, with the initial 100-tonne (approximate) sample to be crushed and shipped next week.
The company has produced a corporate video, which is available at its website.
Qualified person
Dr. Charbonneau, PhD, PGeo No. 290, an associate of Inlandsis Consultants SENC, is an independent qualified person under National Instrument 43-101, and has reviewed and approved the technical information provided in this news release.
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