Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : The Graphite Blog -- Ignore unavailable to you. Want to Upgrade?

To: vitalremains who wrote (1469)	7/29/2014 9:40:16 PM
From: vitalremains	Read Replies (1) \| Respond to of 1882

Mason drills 98 m of 29.8% Cg at Lac Gueret 2014-07-29 17:51 ET - News Release Mr. Benoit Gascon reports MASON GRAPHITE REPORTS HIGH-GRADE INTERCEPTS IN NORTHEAST EXTENSION OF LAC GUERET; ONE HOLE INTERSECTED 98 M AT 29.8% CG NEAR SURFACE, INCLUDING 56M AT 36.2% CG Mason Graphite Inc. has released positive assay results from the 2013-2014 drilling program at its Lac Gueret project in northeastern Quebec. The drill program consisted of 97 holes totalling 15,108 metres and was designed to pursue three objectives: -To explore for mineral extensions to the northeast and beyond the defined resource envelope of the GC zone (18 holes totalling 2,085 metres); -To explore for mineral continuity within the defined resource envelope of the GC zone (68 holes totalling 11,323 metres); -To conduct exploration drilling on graphite showings on the property outside the areas where drilling was conducted in the past (11 holes totalling 1,700 metres). This press release reports assay results from drilling conducted in the northeast extension. The remaining drilling results from other areas noted herein will be reported in coming communications. Results confirm continuity of NE extension in GC zone Intercept highlights from the assay results in the northeast extension of the GC zone, include: -Hole LG-459 intersected 73 metres at 28.5 per cent carbon as graphite, close to surface (nine metres), including 41 metres at 39.0 per cent Cg; -Hole LG-469 intersected 86 metres at 27.8 per cent Cg, including 31 metres at 42.3 per cent Cg; -Hole LG-472 intersected 70 metres at 28.8 per cent Cg, close to surface (four metres), including 25 metres at 42.0 per cent Cg; -Hole LG-489 intersected 66 metres at 30.0 per cent Cg, close to surface (four metres), including 46 metres at 38.3 per cent Cg; -Hole LG-491 intersected 98 metres at 29.8 per cent Cg, close to surface (four metres), including 56 metres at 36.2 per cent Cg. "We are very encouraged with the results from the northeast extension. This exploration target is located at the edge of the defined mineral resource, and adjacent to the pit design from the preliminary economic assessment we completed in April, 2013. These results confirm mineralization near surface with excellent widths and mineral continuity beyond the current mineral resource boundary," said Benoit Gascon, president and chief executive officer of Mason Graphite. MOST RELEVANT DRILL RESULTS FROM THE NE EXTENSION (18 holes totalling approximately 2,085 metres) Section Drill hole No. From (m) To (m) Length (m) % Cg 1350 LG-460 4 41 37 34.0 incl. 4 32 28 39.8 LG-468 No significant mineralization LG-469 44 130 86 27.8 incl. 54 85 31 42.3 incl. 105 130 25 30.1 LG-488 108 124 16 14.3 129 140 11 21.0 LG-489 4 70 66 30.0 incl. 6 52 46 38.3 89 106 17 17.2 1400 LG-459 9 82 73 28.5 incl. 9 50 41 39.0 LG-466 33 117 84 27.4 incl. 57 93 36 36.1 LG-473 56 77 21 13.8 LG-477 6 43 37 8.2 49 96 47 20.2 incl. 69 90 21 31.7 LG-490 109 127 18 12.8 LG-491 4 102 98 29.8 incl. 11 67 56 36.2 1450 LG-456 11 74 63 20.1 LG-472 4 74 70 28.8 incl. 27 72 45 38.9 incl. 27 52 25 42.0 LG-478 4 63 59 18.8 incl. 4 41 37 23.8 1500 LG-462 48 55 7 16.7 LG-479 No significant mineralization LG-492 No significant mineralization LG-493 4 44 40 13.8 Operational update and coming milestones Mason Graphite has retained the services of Roche Ltee. for the calculation of an updated mineral resource estimate, including the results from the 2013/2014 drilling program. The updated block model will be used as an input for the coming feasibility study for the Lac Gueret project. Also, in preparation for the coming feasibility study, the company has been working with the metallurgical laboratories, COREM (Quebec City) and URSTM (Rouyn-Noranda), as well as consulting firm Soutex Inc. (Quebec City), for the optimization of the concentration process. A mandate was also awarded to Montreal-based consulting firm Hatch, to conduct trade-off studies and peripheral studies (hydrogeological and geotechnical) required for the development of the feasibility study. A 100-ton bulk sample was collected at the Lac Gueret property in early July for the coming pilot plant test program, which is scheduled to commence this fall in conjunction with the feasibility study. Qualified persons/quality control and assurance Yves Caron, PGeo, Mason Graphite's director of exploration and geology and a qualified person as defined by National Instrument 43-101, supervised the drill program and has reviewed and approved geological, scientific and technical content of this press release. Jean L'Heureux, Eng, Mason Graphite's executive vice-president, process development, and a qualified person as defined by National Instrument 43-101, has reviewed and approved the metallurgical, scientific and technical content of this press release. Analyses for this drilling campaign were carried out by AGAT Laboratories Ltd. in Mississauga, Ont., a company independent from Mason Graphite and ISO 17025 certified. A thorough quality control and assurance program was exercised, with Mason Graphite inserting one blank, one standard and one duplicate every 50 samples. Carbon as graphite assays reported in this press release were obtained by using a LECO instrument following analytical technique ASTM E1915-07A with a detection limit of 0.01 per cent Cg. Drill holes were sampled over an average of 1.5-metre intervals. We seek Safe Harbor.