Focus Graphite Inc. TSX VENTURE : FMS
OTCQX : FCSMF
FRANKFURT : FKC
March 04, 2013 09:58 ET
OTTAWA, ONTARIO--(Marketwire - March 4, 2013) -
Focus Graphite Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC)
("Focus" or the "Corporation") is pleased to report preliminary Phase II
Locked Cycle Test* (LCT) results for its Lac Knife, Québec high-grade
graphite deposit.
SGS Canada Inc. ("SGS") has completed Phase II LCTs on four
(4) composite core samples comprised of low-grade and semi-massive
graphite with a head grade ranging between 6.0% C and 20.7% C.
Highlights are as follows:
All carbon analyses were performed by SGS and are reported as
total carbon (C). The analytical methods that were used to determine
the metallurgical results included double loss on ignition analysis
(double LOI) and total carbon analysis by Leco on the final
concentrates. The lower grade tailings products were analyzed by the
graphitic carbon method to discount the organic carbon and carbonate
carbon in the samples.
Final Phase II LCT results including for the two (2) composite core samples comprising of massive graphite are pending.
"The findings from the Phase I and Phase II metallurgical testing program have been incorporated into the design of the flow sheet for the pilot plant scheduled for start-up in late March or early April," said Dr. Joseph Doninger, Director of Manufacturing and Technology for Focus Graphite.
The purpose of the pilot plant is to confirm the results from Phase II LCTs, produce graphite flake samples for customer evaluations and generate graphite raw materials for further upgrading.
Focus President and CEO Gary Economo said "These latest results continue to confirm Lac Knife's status as an exceptional flake graphite project.
"The very high carbon content of our fine (-200 mesh ) graphite flake could provide a low cost raw material that could be upgraded to the high purity carbon levels that lithium-ion battery manufacturers require.
"It supports our technology focus on the lithium-ion battery market for transportation and energy applications," Mr. Economo said. "It allows us to assign the much higher-priced large flake to other high-technology projects.
"Ultimately, it ends a misconception in the marketplace that only large flake graphite is suitable for battery-grade materials."
These results will also allow Focus to advance its discussions with potential customers, Mr. Economo said.
About SGS Metallurgical Services (Lakefield)
SGS Canada Inc. ("SGS") is recognized as a world leader in the development of flow sheets and pilot plant programs. SGS' Metallurgical Services division was founded over half a century ago. Its metallurgists, hydrometallurgists and chemical engineers are experienced in all the major physical and chemical separation processes utilized in the recovery of metals and minerals contained in resource properties around the world.
About Focus Graphite
Focus Graphite Inc. is an emerging mid-tier junior mining development company, a technology solutions supplier and a business innovator. Focus is the owner of the Lac Knife graphite deposit located in the Côte-Nord region of northeastern Québec. The Lac Knife project hosts a NI 43-101 compliant Measured and Indicated mineral resource of 4.972 Mt grading 15.7% carbon as crystalline graphite with an additional Inferred mineral resource of 3.000 Mt grading 15.6% crystalline graphite. Focus' goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. On October 29th, 2012 the Company released the results of a Preliminary Economic Analysis ("PEA") of the Lac Knife project which demonstrates that the project has robust economics* and excellent potential to become a profitable producer of graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus invests in the development of graphene applications and patents through Grafoid Inc.
* Mineral resources that are not mineral reserves do not have demonstrated economic viability.
The information pertaining to the metallurgical test program completed by SGS that is presented in this news release has been reviewed and approved by Mr. Oliver Peters, M.Sc., P.Eng, MBA, SGS Canada Inc. Consulting Metallurgist.
This news release has been reviewed by Mr. Marc-Andre Bernier, M.Sc., P.Geo. (Ontario and Québec), Focus Graphite Director and Technical Advisor and a Qualified Person under NI 43-101.
Forward Looking Statements - Disclaimer
This news release may contain forward looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com. Focus Graphite disclaims any intention or obligation to revise or update such statements.
SGS Canada Inc. ("SGS") has completed Phase II LCTs on four
(4) composite core samples comprised of low-grade and semi-massive
graphite with a head grade ranging between 6.0% C and 20.7% C.
Highlights are as follows:- The average amount of graphite flake recovered from the core samples in the Phase II LCTs increased to 92.2% compared with a recovery of 84.7% graphite flake in the Phase I LCTs
- The proportion of large flakes (+80 mesh) in the graphite concentrates ranged between 35% and 58%
- The carbon content of graphite concentrates produced from the four (4) composites averaged 96.6 %C, including the fine flake fraction (-200 mesh), a 4.6% increase over Phase I LCTs completed in mid 2012
Final Phase II LCT results including for the two (2) composite core samples comprising of massive graphite are pending.
"The findings from the Phase I and Phase II metallurgical testing program have been incorporated into the design of the flow sheet for the pilot plant scheduled for start-up in late March or early April," said Dr. Joseph Doninger, Director of Manufacturing and Technology for Focus Graphite.
The purpose of the pilot plant is to confirm the results from Phase II LCTs, produce graphite flake samples for customer evaluations and generate graphite raw materials for further upgrading.
Focus President and CEO Gary Economo said "These latest results continue to confirm Lac Knife's status as an exceptional flake graphite project.
"The very high carbon content of our fine (-200 mesh ) graphite flake could provide a low cost raw material that could be upgraded to the high purity carbon levels that lithium-ion battery manufacturers require.
"It supports our technology focus on the lithium-ion battery market for transportation and energy applications," Mr. Economo said. "It allows us to assign the much higher-priced large flake to other high-technology projects.
"Ultimately, it ends a misconception in the marketplace that only large flake graphite is suitable for battery-grade materials."
These results will also allow Focus to advance its discussions with potential customers, Mr. Economo said.
About SGS Metallurgical Services (Lakefield)
SGS Canada Inc. ("SGS") is recognized as a world leader in the development of flow sheets and pilot plant programs. SGS' Metallurgical Services division was founded over half a century ago. Its metallurgists, hydrometallurgists and chemical engineers are experienced in all the major physical and chemical separation processes utilized in the recovery of metals and minerals contained in resource properties around the world.
About Focus Graphite
Focus Graphite Inc. is an emerging mid-tier junior mining development company, a technology solutions supplier and a business innovator. Focus is the owner of the Lac Knife graphite deposit located in the Côte-Nord region of northeastern Québec. The Lac Knife project hosts a NI 43-101 compliant Measured and Indicated mineral resource of 4.972 Mt grading 15.7% carbon as crystalline graphite with an additional Inferred mineral resource of 3.000 Mt grading 15.6% crystalline graphite. Focus' goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. On October 29th, 2012 the Company released the results of a Preliminary Economic Analysis ("PEA") of the Lac Knife project which demonstrates that the project has robust economics* and excellent potential to become a profitable producer of graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus invests in the development of graphene applications and patents through Grafoid Inc.
* Mineral resources that are not mineral reserves do not have demonstrated economic viability.
The information pertaining to the metallurgical test program completed by SGS that is presented in this news release has been reviewed and approved by Mr. Oliver Peters, M.Sc., P.Eng, MBA, SGS Canada Inc. Consulting Metallurgist.
This news release has been reviewed by Mr. Marc-Andre Bernier, M.Sc., P.Geo. (Ontario and Québec), Focus Graphite Director and Technical Advisor and a Qualified Person under NI 43-101.
Forward Looking Statements - Disclaimer
This news release may contain forward looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com. Focus Graphite disclaims any intention or obligation to revise or update such statements.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contact Information
Focus Graphite Inc.
Mr. Gary Economo
President and Chief Executive Officer
613-691-1091, ext. 101
geconomo@focusgraphite.com
www.focusgraphite.com
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