Montreal, Quebec, March 14, 2019 – SRG Graphite Inc. (TSXV: SRG) (“SRG” or the “Company”) is pleased to report the final assay results of its 2018 drilling campaign for its Lola Graphite deposit in Guinea, West Africa. These results represent 71 new boreholes, bringing the total drilling program for the project to 638 boreholes for 22,239 meters (“m”). Of these boreholes, 10 were drilled at depth to confirm the presence of graphitic carbon (“Cg”) within the non-weathered rock assemblage below the graphite-rich surface saprolite. All 638 boreholes will be included in the updated resource estimate produced as part of the Company’s feasibility study expected in the first half of 2019.
Drill Results Highlights:
- Hole LL39-162665: 00m at 7.74% Cg including 10.50m at 13.46% Cg, from surface
- Hole LL36-369056: 44m at 5.56% Cg including 20.46m at 7.93 % Cg, from 2.6m
- Hole LL36-384159: 72m at 6.50% Cg including 19.00m at 9.25% Cg, from surface
- Hole LL39-085636: 45m at 4.94% Cg including 91.85m at 6.90% Cg, from 8.4m
- Hole LL42-037030: 65m at 4.16% Cg including 116.81m at 6.18% Cg, from 4.8m
The section below (see Figure 1) illustrates mineralisation continuity below the weathered saprolite. Drilling performed to date covers approximately 60% of the deposit’s surface footprint (see Figure 2), essentially covering the first 30 meters of depth from the surface, on average.
“We are very pleased with the 2018 drilling campaign. The results of these latest drill holes continue to show the size potential of the deposit,” said Dr. Marc-Antoine Audet, Lead Geologist. “We are also excited with the results of the 10 at-depth boreholes, which confirm our thesis of continued mineralization at depth and further expands the deposit’s potential.”
The following link (Table 1) provides a compilation of mineralized intervals for the 638 boreholes drilled and analyzed to date. Mineralized intervals were defined using 1.0% Cg as a cut-off grade (“cog”). Composite intervals defined using a 3% cog are also presented.
All boreholes were drilled at an inclination of 50 degrees from the horizontal and cross-cut the geological succession as perpendicularly as possible. The graphitic paragneiss displays foliation dipping between 80 and 85 degrees to the west.
Figure 1: Section 4,800 NE (referenced on Figure 2)
Core logging and sampling were performed at the Company’s facility in the village of Lola. Sample preparation was performed by Veritas Laboratory in Abidjan, Côte d’Ivoire. Pulp samples were delivered to Activation Laboratories Ltd., Ancaster, Ontario, Canada. The samples were treated through a multi-stage furnace process to remove organic carbon and carbonate carbon. The remaining graphitic carbon was measured as carbon dioxide in the infrared (“IR”) cell as gas flowed through the cell. Carbon dioxide absorbs IR energy at a precise wavelength within the IR spectrum. All analyses were performed using Eltra instruments.
The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, PhD Geo., P.Geo, Lead Geologist, SRG and a “qualified person” as defined by the National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Figure 2: Image of drilling program phases and boreholes
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 P.Eng, CFA Benoit La Salle, FCPA FCA
Email: [email protected] 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 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 and phrases or state that certain actions, events or results “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, 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) fluctuations in commodity prices and other risks and factors described or referred to in the section entitled “Risk Factors” in the MD&A of the Company and which is available at www.sedar.com, all of which should be reviewed in conjunction with the information found in this news release. 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. 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 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.