Montreal, Quebec, October 01, 2018 – SRG Graphite Inc. (TSXV: SRG) (“SRG” or the “Company”) is pleased to provide an update on the ongoing feasibility study for the Lola Graphite Project in Guinea, West Africa, announced earlier this month. Fieldwork required for the feasibility study is either well under way or completed ahead of schedule or on time. Given the positive advancement of fieldwork, management is confident in the timeline established for the completion of the feasibility study.
“We are very pleased with the progress of the fieldwork,” said Raphaël Beaudoin, P.Eng., VP Operations, Metallurgy and Process Design. “Our local team and our technical partners are dedicated and hardworking, which is yielding results. It’s exciting to finally move toward civil geotechnical and mine design studies.”
The mine geotechnical fieldwork, piloted by Mine Design Engineering (“MDEng”), is completed. Samples are already at the laboratory and preliminary results should be received by year’s end. The mine geotechnical study will help SRG design the open-pit mine by assessing soil composition over and around the deposit.
Core samples being logged by MDEng
Similarly, the civil geotechnical fieldwork, piloted by Sahara Natural Resources (“SNR”) and DRA, is also completed. Samples are already at the laboratory, and preliminary results should also be received by year’s end. The civil geotechnical study will contribute to finalize plant location.
The hydrogeology fieldwork, also piloted by SNR and DRA, is well under way. Four of the six projected wells have already been dug. The groundwater study is essential for open-pit mine design and the environmental impact study.
For tailing storage facility (“TSF”) design, Epoch Resources has conducted their initial site visit in mid-September. They have identified nine potential TSF. Epoch will now evaluate which site is best suited for the project and define the tailings management method. Results of this study will be known by year’s end.
ABOUT SRG
SRG is a Canadian-based company focused on developing mineral deposits 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.
Or contact:
| Ugo Landry-Tolszczuk Tel: +1 (514) 679-4196 Email: [email protected] |
Benoit La Salle, FCPA FCA Tel: +1 (514) 951-4411 Email: [email protected] |
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Forward-Looking Statements
This press release contains “forward-looking information” within the meaning of Canadian securities legislation. All material contained herein that is not clearly historical in nature may constitute forward-looking information, including references to the plans and project of the Company, such as proceeding with production at the Company’s Lola Project or proceeding with exploration activities on its permits, including Lola and Gogota. Generally, such forward-looking information can be identified by the use of forward-looking terminology and phrases or can state that certain actions, events, or results “expect,” “may,” “could,” “would,” or “might.” 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.
Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made. 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. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is given 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. Additional information on these and other factors that could affect SRG’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).