Lots of pending news also coming here over next few months...
Mason Graphite begins 2013 exploration at Lac Gueret
2013-07-03 23:25 ET - News Release
Mr. Benoit Gascon reports
MASON GRAPHITE INITIATES NEW EXPLORATION PROGRAM AT LAC GUERET FOLLOWING COMPLETION OF $5 MILLION PRIVATE PLACEMENT FINANCING
Following the completion of a $5-million private placement financing (see press release dated June 28, 2013), Mason Graphite Inc. is initiating its 2013 exploration program at its Lac Gueret graphite property. The exploration campaign will include approximately 15,000 metres of drilling, designed to test for further continuity of the mineralization of the GC and GR zones, which in the aggregate cover 100 hectares, as well as surface work and drilling on other graphite-mineralized areas located on the 11,630-hectare property.
In addition to the exploration campaign, the company intends to conduct metallurgical testwork on sections of the 26,500 metres of core drilled last year to further its understanding of all the mineralized areas of the deposit and to optimize the positive results published by the company in February, 2013, which were based on testing conducted on approximately 1,400 kilograms of graphite-bearing mineralization collected at the surface of the current mineral resource. Such results include graphite recoveries in excess of 96 per cent, concentrate purity of 96.3 per cent graphite for the positive 150 mesh (106 microns) cumulative and a particle size distribution of 29 per cent of positive 80 mesh (180 microns) cumulative, including 16 per cent of positive 50 mesh (300 microns).
The company also intends to complete the environmental baseline studies that were initiated in June, 2012, which represent an important milestone for the project permitting.
In 2012, the company completed a drilling program consisting of 163 drill holes (approximately 26,500 metres), which was successful in delineating mineralization with similar grades outside of the current mineral resource envelope (see press releases dated Nov. 21, 2012, Feb. 28, 2013, and April 3, 2013). An updated mineral resource estimate incorporating the results from the 145 drill holes completed in 2012 on the GC zone is expected to be completed in September, 2013.
The company also announces that it has granted an aggregate of 885,000 options to officers, employees and consultants of the company. Each option will allow for the purchase of one common share of Mason Graphite at a price of 60 cents until July 2, 2018. The options will vest in three instalments, with one-third vesting upon issuance, one-third vesting one year following issuance and one-third vesting two years following issuance. The option grant is subject to acceptance by the TSX Venture Exchange.
Quality control and assurance
Nathalie Guillemette, PGeo, a consultant to the company, and Jean L'Heureux, Eng, executive vice-president of process development, both qualified persons as defined by National Instrument 43-101, have read and approved the scientific and technical content of this press release.
We seek Safe Harbor.
Source:
masongraphite.com |
