MONTREAL, Feb. 22, 2013 /CNW/ - Mason Graphite Inc.
(TSXV: LLG) ("Mason Graphite" or the "Company") is pleased to
report the completion of metallurgical tests on its Lac Guéret
graphite deposit in Quebec that
highlight exceptional graphite recovery, excellent concentrate
purity and very good particle size distribution. Result highlights
include:
- Graphite recoveries in excess of 96%
- Concentrate purity of 96.3% for the +150 mesh
cumulative
- 29% of +80 mesh cumulative, including 16% of +50
mesh
Approximately 1,400 kg of graphite-bearing
mineralization were taken from across the different domains of the
GC Zone of the Lac Guéret mineral deposit and sent to the
independant laboratory, SGS Minerals Services in Lakefield, Ontario for testing. Priority zones
were selected and composite samples were prepared for the
tests.
A proposed flowsheet was developed and evaluated
in two Locked Cycle Tests in order to demonstrate its
robustness.
Lock Cycle Test #2 Results
Flake Size |
Distribution
(%) |
Carbon Content
(% Cg) |
+50 mesh |
16% |
96.3% |
+80 mesh |
13% |
96.4% |
+150 mesh |
14% |
96.2% |
-150 mesh |
57% |
91.7% |
Total / Average |
100% |
92.6% |
The Company will continue to test these minerals
in order to further optimize the flowsheet and will also test other
zones of the deposit in order to increase its understanding of the
mineralization and validate the flowsheet accordingly.
The graphitic carbon and total carbon content of
the head samples were quantified by Leco at 22.0% and 22.7%,
respectively. The Carbon Grade was performed by Loss on Ignition
(LOI) analysis at 1,000 °C.
"The results from these preliminary
metallurgical tests along with the mineral resource estimate
published last year confirms to us the robust nature of the Lac
Guéret graphite deposit." said Benoît Gascon, CEO of Mason
Graphite. "We are very pleased with the fact that our graphite
deposit possesses key elements for mining, processing, and
commercial viability; these being high grade, high recovery and
flake size. These long-term factors generally contribute materially
to the success of a graphite company by delivering a more efficient
process and lower production costs."
Results from these preliminary metallurgical
tests will be included in the Preliminary Economic Assessment,
scheduled for completion in the coming months.
Qualified Person
Jean L'Heureux, P.Eng., is a Qualified Person as
defined by National Instrument 43-101 and has reviewed and approved
the results of the metallurgical test work conducted by SGS for
Mason Graphite's Lac Guéret deposit.
About SGS Metallurgical Services
SGS Minerals Services was founded over half a
century ago and is an industry leader in a full range of
metallurgical services including the development of bankable flow
sheets and pilot plant programs. Its metallurgists,
hydro-metallurgists and chemical engineers are experienced in all
the major physical and chemical separation processes utilized in
the recovery of metals and minerals contained in ore bodies around
the world.
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, CPA, CA, 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.
Other Information
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the adequacy or accuracy of this News Release. This news release
has been prepared by management and no regulatory authority has
approved or disapproved the information contained herein.
Cautionary Statements Regarding Forward Looking
Information
This press release contains "forward-looking information"
within the meaning of Canadian securities legislation. All
information contained herein that is not clearly historical in
nature may constitute forward-looking information. Generally, such
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
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"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to: (i)
volatile stock price; (ii) the general global markets and economic
conditions; (iii) the possibility of write-downs and impairments;
(iv) the risk associated with exploration, development and
operations of mineral deposits; (v) the risk associated with
establishing title to mineral properties and assets; (vi) the risks
associated with entering into joint ventures; (vii) fluctuations in
commodity prices; (viii) the risks associated with uninsurable
risks arising during the course of exploration, development and
production; (ix) competition faced by the resulting issuer in
securing experienced personnel and financing; * access to adequate
infrastructure to support mining, processing, development and
exploration activities; (xi) the risks associated with changes in
the mining regulatory regime governing the resulting issuer; (xii)
the risks associated with the various environmental regulations the
resulting issuer is subject to; (xiii) risks related to regulatory
and permitting delays; (xiv) risks related to potential conflicts
of interest; (xv) the reliance on key personnel; (xvi) liquidity
risks; (xvii) the risk of potential dilution through the issue of
common shares; (xviii) the Company does not anticipate declaring
dividends in the near term; (xix) the risk of litigation; and **
risk management.
Forward-looking information is based on assumptions
management believes to be reasonable at the time such 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 plans and such
plans achieving their stated expected outcomes, 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 intended. There can be no assurance that
such forward-looking 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 has been provided for the purpose of
assisting investors in understanding the Company's business,
operations and exploration plans and may not be appropriate for
other purposes. 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.