Mason Graphite Announces Results from 23 Drill Holes; Including
88.5 M of 21% Graphite
TORONTO, Nov. 21, 2012 /CNW/ - Mason Graphite Inc. (TSX.V:
LLG) ("Mason Graphite" or the "Company") reports assay results for
23 drill holes (4,355 metres) from the mineral resource expansion
program at its Lac Guéret project in northeastern Quebec. Results and the corresponding map are
presented below. These holes are part of a drilling program
initiated in July 2012 that was
designed to delineate additional mineral resources along strike of
the GC zone, which hosts the current National Instrument 43-101
mineral resource of about 300,000 tonnes at 24.4% Carbon as Graphite ("Cgr") in the Measured
category and 7.3 million tonnes at 20.2% Cgr in the Indicated
category (effective as of June 22,
2012). The Company is awaiting results from an additional 34
drill holes (about 6,500 metres), which along with the 23 holes
presented below will be included in its database to calculate an
updated mineral resource estimate that is planned for completion in
early 2013.
Significant graphite intercepts in this round of results,
include:
- Hole LG-44 intersected 96.0 metres at 16.9% Cgr
- Hole LG-50 intersected 52.3 metres at 22.4% Cgr and 12.4 metres
at 17.5% Cgr
- Hole LG-53 intersected 43.5 metres at 20.0% Cgr, 16.5 metres at
15.7% and 88.5 metres at 21.0% Cgr
- Hole LG-61 intersected 13.5 metres at 20.2% Cgr, 13.5 metres at
17.5% Cgr and 13.5 metres at 24.7% Cgr
- Hole LG-231 intersected 33.0 metres at 19.1% Cgr
Benoît Gascon, CEO of Mason Graphite commented,
"We are very pleased with the progression of our drilling program
with over 26,600 metres completed since July. We plan to include
approximately 11,000 metres of this program in an updated mineral
resource which is expected for completion in early 2013, and the
remaining results will be included in a second mineral resource
update later in the first quarter of 2013. The initial results from
23 holes were all drilled at the border and beyond the boundaries
of the July 2012 mineral resource
calculation and we are very encouraged by the apparent continuity
of high quality graphite mineralization extending to the south-east
and south-west of this area."
Roche Ltd. Consulting Group, who completed the
Company's National Instrument 43-101 mineral resource estimate in
July 2012, has been retained to
complete the upcoming mineral resource update.
See "Technical Report on the Lac Guéret Graphite
Project" dated July 3, 2012 under
Mason Graphite's profile on SEDAR at www.sedar.com for additional
information, including exploration information and data
verification.
Table 1 - Best results from each of 23 drill holes (4,355
metres)
Hole |
From
(m) |
To
(m) |
Width
(m) |
Carbon as Graphite
(Cgr) (%) |
|
|
|
|
|
LG-40 |
90.45 |
143.35 |
52.9 |
11.6 |
LG-41 |
23.75 |
34.6 |
10.85 |
17.1 |
|
62.4 |
119.2 |
56.8 |
11.8 |
LG-42 |
37 |
46.3 |
9.3 |
12.2 |
|
78.55 |
102.1 |
23.55 |
12.2 |
|
108.2 |
139.85 |
31.65 |
16.5 |
LG-43 |
46.5 |
58.5 |
12 |
15.8 |
|
108 |
132 |
24 |
18.1 |
LG-44 |
40.5 |
136.5 |
96 |
16.9 |
LG-47 |
17.2 |
22.55 |
5.35 |
21.1 |
|
120.25 |
145.8 |
25.55 |
16.5 |
LG-48 |
18.1 |
38.7 |
20.6 |
14 |
|
97.5 |
133.8 |
36.3 |
10 |
|
153.25 |
159.1 |
5.85 |
14.4 |
LG-49 |
4.95 |
19.4 |
14.45 |
12.3 |
|
57.65 |
151 |
93.35 |
17.1 |
LG-50 |
16.5 |
68.75 |
52.25 |
22.4 |
|
100.5 |
112.85 |
12.35 |
17.5 |
LG-51 |
32.3 |
43.6 |
11.3 |
13.3 |
|
72 |
95.7 |
23.7 |
20.6 |
LG-52 |
30 |
49.5 |
19.5 |
10.4 |
LG-53 |
16.5 |
60 |
43.5 |
20 |
|
106.5 |
123 |
16.5 |
15.7 |
|
144 |
232.5 |
88.5 |
21 |
LG-54 |
37.5 |
48 |
10.5 |
14.7 |
|
58.5 |
67.5 |
9 |
14.6 |
|
165 |
180 |
15 |
12.1 |
LG-55 |
51 |
79.5 |
28.5 |
14.6 |
|
127.5 |
157.5 |
30 |
11 |
|
168 |
175.5 |
7.5 |
19.3 |
LG-56 |
25.4 |
33.2 |
7.8 |
11.5 |
|
59.55 |
69.65 |
10.1 |
14.5 |
|
141 |
154 |
13 |
16.4 |
LG-61 |
15 |
28.5 |
13.5 |
20.2 |
|
36 |
49.5 |
13.5 |
17.5 |
|
57 |
69 |
12 |
8.3 |
|
103.5 |
129 |
25.5 |
14 |
|
171 |
184.5 |
13.5 |
24.7 |
LG-62 |
11.6 |
17.85 |
6.25 |
14.8 |
|
43.5 |
50.8 |
7.3 |
13.3 |
|
70.35 |
96 |
25.65 |
13.2 |
LG-63 |
38.5 |
52.25 |
13.75 |
14.3 |
|
74.8 |
83.6 |
8.8 |
14.3 |
|
151.3 |
165.45 |
14.15 |
12 |
LG-64 |
9.8 |
15.95 |
6.15 |
11.3 |
|
42.65 |
52.1 |
9.45 |
32.1 |
|
66 |
76.5 |
10.5 |
11.8 |
|
129.9 |
142.85 |
12.95 |
14.5 |
LG-65 |
44.1 |
53.85 |
9.75 |
13.3 |
|
57.5 |
65.4 |
7.9 |
24.2 |
|
137.7 |
161.35 |
23.65 |
19 |
LG-84 |
94.5 |
100.5 |
6 |
17.9 |
|
109.5 |
117 |
7.5 |
16.5 |
|
172.5 |
187.5 |
15 |
28.3 |
LG-97 |
78 |
88.5 |
10.5 |
20.2 |
|
94.5 |
105 |
10.5 |
11.7 |
LG-231 |
31.5 |
64.5 |
33 |
19.1 |
Figure 1 - Drill Hole Locations
Quality Control and Assurance
The drill program was supervised by Benoît
Moreau, President and COO of Mason Graphite, who is a Qualified
Person as defined by National Instrument 43-101. Mr. Moreau has
reviewed and approved the scientific and technical content of this
news release.
Analyses for this drilling campaign were carried
out by AGAT Laboratories Ltd. in Mississauga, Ontario exercising a thorough
Quality Control and Assurance program (QA/QC) with Mason Graphite
personnel inserting one blank, two standards and one duplicate
every 100 samples. AGAT Laboratories is an accredited
analytical laboratory. Carbon as graphite ("Cgr") assays reported in
this press release were obtained by using the LECO analytical
technique ASTM E1915-07A with a detection limit of 0.01% Cgr.
Drill holes were sampled over an average of 1.5 metre
intervals.
About Mason Graphite
Mason Graphite is a Canadian mining company
focused on the exploration and development of its 100% owned Lac
Guéret graphite property, which is located in northeastern Québec
near the main service center of Baie-Comeau. The Lac Guéret graphite
property currently hosts a National Instrument 43-101 compliant
Mineral Resource of about 300,000 tonnes at 24.4% Cgr in the
Measured category and 7.3 million tonnes at 20.2% Cgr in the
Indicated category. (see news release issued on July 16, 2012). Exploration potential exists on
the property with the current Mineral Resource based on exploration
of only 17% of one well defined zone. Mason Graphite is led by
Benoit Gascon, CA CMA, who has held 20 years of executive positions
at Timcal, including over 6 years as CEO. Timcal, now owned by
Imerys, is one of the largest graphite producers in the world.
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exploration, development and operations of mineral deposits; (v)
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(xix) the risk of litigation; and ** risk management.
Forward-looking information is based on
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statements are made, including but not limited to, continued
exploration activities, no material adverse change in metal prices,
exploration and development plans proceeding in accordance with
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receipt of required regulatory approvals, and such other
assumptions and factors as set out herein. Although the
Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
the forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or
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information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
forward-looking information. Such forward-looking information
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understanding the Company's business, operations and exploration
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Accordingly, readers should not place undue reliance on
forward-looking information. Forward-looking information is
made as of the date of this press release, and the Company does not
undertake to update such forward-looking information except in
accordance with applicable securities laws.
SOURCE Mason Graphite Inc.
Image with caption: "Figure 1 - Drill Hole Locations (CNW
Group/Mason Graphite Inc.)". Image available at:
http://photos.newswire.ca/images/download/20121121_C2129_PHOTO_EN_21011.jpg