OTTAWA, ONTARIO--(Marketwire - Feb. 6, 2013) - Focus Graphite Inc. (TSX VENTURE:
FMS)(OTCQX:
FCSMF)(FRANKFURT:FKC) ("
Focus" or the "
Corporation")
and partner
SOQUEM Inc. ("SOQUEM") are pleased to provide an update of
their 2012 exploration program at the
Kwyjibo polymetallic Iron-Rare Earth Elements-Copper-(Gold) (Fe-REE-Cu-(Au)) Property ("
Kwyjibo" or the "Property"), located in the Côte-Nord administrative district of
Québec. The 2012 exploration program at Kwyjibo comprised of surface
showing and trench re-sampling, core drilling and ground geophysical
surveying.
Highlights of the Josette showing and trench re-sampling program include:
- Josette showing: 2.95% TREO, 37.35% REOc* and 1.44 % Cu over 10 m, including a high-grade sub-zone of: 4.59% TREO, 35.58 % REOc*, and 2.62 % Cu over 2m.
- Trench TR-95-30: 4.13% TREO, 36.08% REOc* and 0.23 % Cu over 2 m.
- Trench TR-95-29: 3.58% TREO, 39.90% REOc*and 0.17% Cu over 1.5 m.
The new 2012 analytical results highlight the
increasing
total rare earth content of the mineralization related to the assaying
of heavy rare earth elements in comparison to the 1995 analytical
results. In 1995, only La, Ce and Sm were analyzed out of the suite of
17 rare earth elements at the Josette showing and in trenches TR-95-30
and TR-95-29.
In 2012, 10 new channel samples were collected at the Josette
showing, two new channel samples were collected from trench TR-95-30
and one chip sample was taken from trench TR-95-29. The 13 samples were
analyzed for the complete range of rare earth elements (Table 1). The
2012 results confirm the high heavy rare-earth elements ("HREE") content
of the mineralization at Kwyjibo as well as the
high ratio of critical
rare earth elements (REOc) which ranges from 32.34% to 41.14%.
A
map of the
Kwyjibo property showing the location of Josette
showing, trench TR-95-30 and trench TR-95-29 is available on the
Company's website at
www.focusgraphite.com.
Table 1. Results of the re-sampling program at the Josette showing and at Trenches TR-95-30 and TR-95-29:
The results of the rare earth elements assay program are
expressed as total rare earth oxides (TREO), including yttrium oxide and
ratio of critical rare earth elements (REOc*). Values of TREO (REE
2O
3)
presented are the sum of all rare earth oxides of the lanthanide series
and yttrium oxide; strictly not a rare earth element, yttrium is
included in the total amount of REE because of the chemical behaviour
and uses that are similar to the lanthanides.
The Josette showing was re-sampled in a composite of ten (10)
one-meter long channels, cut parallel to the 1995 channels. For trench
TR-95-30, a new two-meter long channel was cut parallel to the trench
blasted in 1995 while for trench TR-95-29, chips samples were taken over
1.5 meters intervals. The total length of the 2012 sampling channels in
both trenches (TR-95-29 & TR-95-30) is less than in 1995 by 5.4 m
due to destruction of portions of the original outcrops caused by the
blasting done in 1995, and also because of the subsequent infilling of
the trenches by blocks of rocks and dirt and the strong weathering of
the outcrop in trench TR-95-29.
Quality assurance / Quality control
The channels were cut with a rock saw perpendicular to the
main foliation of the iron-rich rock (magnetitite). All the channels are
one meter long by 2.5 cm wide and vary in depth from 10 to 15 cm. For
each channel, the rock samples were broken into pieces and then placed
into a plastic bag. In the case of Trench TR-95-29, chips samples of 5
to 10 cm long, by 5 to 10 cm wide and 1 to 5 cm thick were collected
from the weathered outcrop over 1.5 m intervals and then placed into a
plastic bag. A numbered tag from the ALS laboratory was inserted into
the bag prior to the sealing of the bag with a tie-wrap. The sample bags
were carried to the camp by helicopter then loaded onto a float plane
to Sept-Îles and sent by a carrier to ALS Laboratories ("ALS") in
Val-d'Or (a certified laboratory; ISO 9001:2008 and ISO/IEC 17025:2005
for standards).
The samples were analyzed for all rare earth elements, most
traces and major elements. Due to the limited number of channel samples
analyzed, no standard or blank were introduced except the one used by
the laboratory. Rare earths and trace elements were analyzed using
lithium borate fusion of the sample prior to acid dissolution and
analyzed by ICP-MS (Induced-Couples Plasma Mass Spectrometry). This
method is best suitable for minerals resistant to acid digestion, like
some REE-bearing silicates. For REE high grades samples, a re-analysis
of the pulp was performed using high sample to volume ratios in addition
to Class A volumetric glassware. ALS laboratory used certified high
grade rare earth reference materials as part of their standard protocol.
Major elements were analyzed using a lithium borate fusion of the
sample prior to acid dissolution and analyzed by ICP-AES
(Induced-Couples Plasma Atomic Emission Spectrometry). REE, traces and
major elements were analyzed at ALS laboratories in Vancouver. For
sulphide-bearing samples, copper, lead, silver, zinc and sulphur were
digested in aqua regia, then analyzed by AAS technique (Atomic
Absorption Spectrometry). Gold was analyzed by fire assay and AAS with a
50g nominal sample weight. Base metals and precious metals were
analyzed at ALS in Val-d'Or.
2012 core drilling program
Thirty-one (31) holes (4,207 m) were drilled at
Kwyjibo in
2012 with the aim of validating grades, thicknesses and continuity of
the REE-Fe-Cu mineralization in the northeastern portion of the Josette
horizon, where the best drilling intersections were obtained in 2011
from hole 10885-11-57 with
2.40% TREO over
48.8m and hole 10885-11-60 with
3.61% TREO over
33.1m (see Focus Metals press release dated March 13
th 2012).
A map of the
Kwyjibo property showing the location of the 31 drill holes is available on the Company's website at
www.focusgraphite.com.
A total of 1,333 samples (1,249 half NQ drill core samples;
23 duplicates; 29 standard samples and 32 blank samples) were sent to
ALS in Val-d'Or and Vancouver, for total rare earth elements, base
metals, major elements and trace element analysis. The results from the
2012 core drilling program are pending.
Surface and borehole TDEM geophysical surveys
A ground time-domain electromagnetic ("TDEM") geophysical
survey and a borehole Pulse-EM survey were completed by Abitibi
Geophysic Inc. from Val-d'Or (Québec) in early October. A total of 75 km
of lines were surveyed on five different loops that covered all
significant VTEM anomalies from the 2006 survey and all known
occurrences of the iron formation on the Kwyjibo Property.
Thirty (30) drill holes (5.492 m), were surveyed with
borehole Pulse-EM on three loops. Eight (8) holes from the 1994 to 2011
core drilling programs were also surveyed for a total of 1,219 m for the
most northeastern Grabuge - Gabriel showings loop. A total of 2,089 m
from 11 drill holes (1994 to 2012) were surveyed on loop that straddled
the Fluorine and Josette showings grids. Finally, 2,184 m from 11 holes
(1995 to 2012) were surveyed in the loop that covers most of the Josette
horizon and the Josette grid.
The new ground and borehole geophysical data are currently
being processed and interpreted by MB Geosolution of Québec City.
High-priority geophysical targets from the 2012 surveys will be
followed-up though drilling in 2013.
Metallurgical tests and mineralogical study
A first round of metallurgical tests is planned at Kwyjibo
this year. The testing will be performed on two representative samples
of the mineralized iron formation (magnetitite) and the mineralized
breccia in the aim to produce concentrates for critical rare earths,
copper and iron. The first sample will be comprised of 80kg composite of
mineralised rock from Josette showing. The second sample will consist
of a 230kg composite from quarter-drill core samples from seven holes
drilled below trenches TR-95-29 and TR-95-30. The contract to carry out
the metallurgical testing has been awarded to COREM of Québec-City. In
conjunction with the metallurgical testing, a mineralogical study will
be undertaken in order to characterize the distribution of the REEs in
the different REE-bearing minerals. Results from both studies are
expected in the third quarter of 2013.
Property Location
The Kwyjibo polymetallic Iron-Rare Earth
Elements-Copper-(Gold) (Fe-REE-Cu-(Au)) property, totalling 118 mining
titles and covering 6,278 ha, is located 125 km northeast of Sept-Îles,
in the Côte-Nord administrative district of Québec. The property is also
located 25 km east of the Québec North Shore and Labrador railway line
and is accessible by air from Sept-Îles.
Terms of the Agreement
On August 3, 2010, the Company announced the signing of an
option agreement with SOQUEM Inc., a wholly-owned subsidiary of the
Société générale de financement du Québec ("SGF") (in April 2011, the
SGF merged with Investissement Québec), to acquire a 50% interest in the
Kwyjibo property.
Under the terms of the agreement, Focus could acquire a 50%
interest in the Kwyjibo property, by spending up to $3 million in
exploration work on the property over a period of 5 years of which $1
million had to be spent during the first 2 years. SOQUEM is the operator
for the exploration work carried out on the property to date and Focus
has the option to become the operator, by paying $50,000 in cash or
issuing a block of common shares valued at $50,000. As of the year ended
September 30, 2012 Focus had spent $3,244,173 on the Kwyjibo project
(net of tax credits and mining duties) and has accordingly earned its
50% interest in the property.
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 29
th,
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
Graphite is also investing in the development of graphene applications
and patents through Grafoid Inc.
About SOQUEM Inc.
SOQUEM Inc. is a wholly-owned subsidiary of Ressources
Québec. Ressources Québec is a new Investissement Québec's subsidiary,
specializes in the mining and hydrocarbon industries; it will
consolidate and spur government investment in projects carried out by
mining companies and the hydrocarbon sector.
The technical information presented in this press release has
been reviewed by Benoit Lafrance, Ph.D., Géo (Québec), Focus
Vice-President of Exploration and a Qualified Person under National
Instrument 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.
Mr. Gary Economo
613-691-1091, ext. 101
