MONTREAL, Sept. 7, 2018
/CNW Telbec/ - SRG Graphite Inc. (TSXV: SRG) ("SRG" or
the "Company") reports that it is reissuing its National Instrument
43-101 ("NI 43-101") Preliminary Economic Assessment study ("PEA")
for the development of its Lola graphite project in the Republic of
Guinea, West Africa.
The cut-off grade for the base case at section 14 of the
original NI 43-101 PEA has been modified to 1.64% from 3%, to be
consistent with the rest of the document's data. This change has no
impact whatsoever on any of the numbers or figures provided in the
original PEA, including preliminary economic figures or
results.
Also, Mr. Sivanesan (Desmond)
Subramani, Principal Consultant at Caracle Creek
International Consulting MINRES (Pty) Ltd (CCIC MinRes), an
independent qualified person, has confirmed the work of Dr.
Marc-Antoine Audet, P.Geo. and SRG's
Lead Geologist and taken responsibility for those sections of the
original NI 43-101 PEA for which Dr. Audet was responsible. Mr.
Subramani has rigorously verified the resource model and reapproved
the resource estimate without material changes.
Highlights of the Lola graphite PEA:
- Production of 50,200 tonnes of graphite concentrate per year
over a 16-year mine life;
- Capital costs of $105 million
("M") including contingency of $15M;
- Operational costs of $372/tonne
("t") of concentrate and $130/t of
transport;
- Pre-tax NPV (8%) of $204M
(post-tax NPV (8%) of $121M) at an
average sales price of $1,328/t;
- Finished grade of over 94% and up to 98% over all size
fractions;
- Strip ratio of 0.39.
The Amended NI-43-101 Technical Report is available on SRG's
website at www.srggraphite.com and on SEDAR
at www.sedar.com.
About Met-Chem/DRA
Met-Chem, a division of DRA Americas Inc., was originally
established in 1969 as a consulting engineering company,
headquartered in Montreal, and
provides a wide range of technical and engineering services.
Met-Chem is well recognized for its capabilities in mining, geology
and mineral processing and has a talented team of engineering,
technical and project management personnel with experience in
North America, Latin America, Europe, West
Africa and India. DRA is a
multidisciplinary global engineering group that originated in
South Africa and delivers mining,
mineral processing, energy, water treatment and infrastructure
services from concept to commissioning, as well as comprehensive
operations and maintenance services for the mineral resources,
water, agriculture and energy sectors. DRA has offices in
Africa, Australia, Canada, China, India
and the United States.
ABOUT SRG
SRG is a Canadian-based company focused on developing the Lola
graphite deposit and the Gogota cobalt-nickel-scandium deposit
located in the Republic of Guinea,
West Africa. SRG is committed to
operating in a socially, environmentally and ethically responsible
manner.
For additional information, please visit SRG's website at
www.srggraphite.com.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE SRG Graphite