Wednesday, April 23, 2014
Berkwood Engages ABGeoconseil to Conduct Fieldwork at Lac Gueret East Graphite Property and Consult on Graphite Strategy
Vancouver, BC / ACCESSWIRE / April 10, 2014 / Berkwood Resources (TSX-V: BKR) (the "Company" or "Berkwood") has retained the services of geologist consultant, Alain Berclaz, P. Geo and CEO of ABGeoconseil Inc. to lead the fieldwork program at Berkwood's Lac Gueret East Graphite Property. Mr. Berclaz has been working as a Geologist for 23 years with significant field experience throughout Europe, West Africa and Canada, including the Grenville Province. He has published, lectured and authored nearly 100 publications. He has worked for the Universite Laval, the Geological Survey of Canada, and the Ministry of Natural Resources of Quebec. He has also worked over the past 15 years as an independent consultant exploring for gold, PGE, base metals (Ni, Cu, Co, Mo) as well as porphyry and IOCG type mineralization (Au, Ag, Cu, Mo, W, Sn, REE).
Brian Buchanan, President and Director of Berkwood commented "Berkwood is uniquely positioned as one of the only companies to have acquired significant land positions in the immediate vicinity of Mason Graphite's advanced Lac Gueret project. The Lac Gueret East Graphite Property is well located in the Grenville Province, sharing a similar geological environment to Mason Graphite's Lac Gueret project. We are looking forward to working with ABGeoconseil on the optimization and potential expansion of Berkwood's graphite portfolio in this prospective region"
To view details, maps and photos of Berkwood's Lac Gueret East Graphite Property please click the following link: http://www.berkwoodresources.com/lac-gueret-east.html.
If you are not currently on the Berkwood Resources news and updates list, you can opt-in via the Berkwood website by clicking here http://www.berkwoodresources.com/contact.html. News Releases and exploration updates are emailed to list members who wish to keep up to date with Berkwood Resources and our projects.
On behalf of Berkwood Resources
"Brian Buchanan"
Brian Buchanan, President and Director
For additional information please contact:
Karim Sayani, Corporate Communications
Tel: (604) 662-7455 E-mail: karim@berkwoodresources.com
Tom Steer, Corporate Development
Tel: (604) 662-7455 E-mail: tomsteer@berkwoodresources.com
Forward Looking Statements
This Berkwood News Release may contain certain "forward-looking" statements and information relating to Berkwood that are based on the beliefs of Berkwood's management as well as assumptions made by and information currently available to Berkwood's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitation, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results and forward-looking statements and forward-looking information may vary materially from those described herein. Except as required by law, Berkwood does not assume the obligation to update any forward-looking statement or forward-looking information.
Neither the 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 news release.
Tuesday, April 22, 2014
RB Energy, Formerly Canada Lithium, to produce Battery Grade Li in Q3 2014
April 22, 2014 08:30 ET
RB Energy Provides an Operations Update for Quebec Lithium
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 22, 2014) - RB Energy Inc.
(the "Company" or "RBI" or RB Energy") (TSX:RBI)(OTCQX:RBEIF) is
pleased to report that with temperatures in the Val d'Or area of Quebec
rising, the Quebec Lithium concentrator was successfully restarted last
week as planned. Production volumes from the concentrator are gradually
being increased to enable the restart of the hydromet circuit by the end
of this week. In Q2 throughputs will gradually be increased and, with
the ore sorter commissioning commencing by the end of Q2, will enable
commercial production levels to be achieved as scheduled in Q3. The
first sales of battery grade lithium carbonate are expected to commence
in May.
By
the end of Q3 the crushing circuit of the concentrator will be
completely winterized, enabling lithium carbonate production year round
going forward.
Commenting
on the restarting of the Quebec Lithium operation, Richard Clark,
President and CEO, said: "Mother nature has finally decided to allow
spring to arrive. This winter in Quebec was extremely challenging. With
the long duration of extremely cold temperatures, and incomplete
winterization at the plant, it was not possible to operate the
concentrator for the better part of 5 months. Despite this situation, we
were able to successfully commence commissioning of the hydromet
section of the plant and we achieved a very high grade battery product
in March. With all components of the Quebec Lithium complex in
operation, we now look forward to delivering into our offtake contracts.
I
would like to take this opportunity to thank our shareholders, bankers,
other investors and offtake partners for their support and patience. I
would also like to thank our employees for their continued commitment
and determination. It has been a long road with numerous challenges, but
we are very excited about being so close to achieving our goal of being
a new, high quality, strategic, lithium carbonate producer."
RBI is a Canadian company formed pursuant to the arrangement involving
Sirocco Mining Inc. and Canada Lithium Corp. It currently owns Aguas
Blancas, an iodine producing mine in northern Chile, and the Quebec
Lithium Project near Val d'Or, the geographical heart of the Quebec
mining industry. The Aguas Blancas mine is currently in production. The
Quebec Lithium Project has completed construction and is in the
commissioning phase. For more information regarding RBI, please refer to
its public filings available at www.sedar.com.
Forward-Looking Statements
Certain
information contained in this news release, including any information
relating to the state of the lithium and iodine industries; statements
regarding our ability and the timing to achieve and sustain commercial
production and name-plate production levels of iodine; our ability to
secure commercial orders from our customers; and our ability to become a
material player in the lithium market are "forward-looking statements".
These forward-looking statements relate to future events or future
performance and reflect the Company's expectations regarding the future
growth, results of operations, business prospects and opportunities of
RBI. These forward-looking statements also reflect the Company's current
internal projections, expectations or beliefs and are based on
information currently available to the Company. In some cases
forward-looking information can be identified by terminology such as
"may", "will", "should", "expect", "intend", "plan", "anticipate",
"believe", "estimate", "projects", "potential", "scheduled", "forecast",
"budget" or the negative of those terms or other comparable
terminology. The estimates and assumptions of RBI underlying the
forward-looking statements in this news release may prove to be
incorrect. Assumptions upon which such forward-looking information
include, among other things, successful and timely commissioning,
ramp-up and production at the Québec Lithium Project; the lack of any
further significant capital expenditures during the commissioning stage
or to bring the hydrometallurgical process plant into production; the
continuing support and cooperation of RBI's off-take partners; as well
as financial predictions premised on such assumptions. Although the
Company believes that the forward-looking information contained in this
news release is based on reasonable assumptions, readers cannot be
assured that actual results will be consistent with such statements.
Accordingly, readers are cautioned against placing undue reliance on
forward-looking information. RBI expressly disclaims any intention or
obligation to update or revise any forward-looking information, whether
as a result of new information, events or otherwise, except in
accordance with applicable securities laws.
Thursday, March 13, 2014
Zenyatta Ventures has a new neighbor in the chase for Hydrothermal Graphite
Brookemont Capital Inc.
TSX VENTURE : BKT
PINKSHEETS : BKTPF
FRANKFURT : BRO
TSX VENTURE : BKT
PINKSHEETS : BKTPF
FRANKFURT : BRO
March 12, 2014 03:01 ET
Brookemont Encounters Large Conductive Anomaly on the Kenagami Hydrothermal Graphite Prospect
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 12, 2014) -
Brookemont Capital Inc. ("BKT", "Brookemont" or the "Company") (TSX
VENTURE:BKT)(PINKSHEETS:BKTPF)(FRANKFURT:BRO) wishes to announce it has
discovered a large TDEM conductive anomaly on the Kenagami Hydrothermal
Graphite prospect in Ontario. This anomaly measures approximately 800
metres by 500 metres and was outlined using the airborne survey recently
completed by Brookemont.
Mr. Gregory Thomson Director of Brookemont states, "Tthis newly discovered anomaly significantly advances the development of our Kenagami Hydrothermal Graphite Prospect. We now have a large target measuring approximately 800 metres by 500 metres. Zenyatta Ventures Ltd. has recently made a discovery of massive hydrothermal graphite and we feel that there is district-wide potential for the discovery of additional magmatic hydrothermal graphite vein-breccia style mineralization similar to Zenyatta's Albany Graphite Deposit.
" Brookemont's new anomaly is of particular interest due its size and the strong overall TDEM response, consequently this will be our main exploration focus going forward."
Brookemont has several ongoing projects including: a) a 100% interest in the "Albany East" Prospect. This land is prospective for hydrothermal (vein) graphite and directly borders Zenyatta Ventures Ltd. property that hosts its hydrothermal graphite deposit. b) a 100-per-cent interest in the Kenagami hydrothermal graphite prospect in Ontario, c) an aluminous clay and rare earth prospect in the Gaspe Bay Region of Quebec. This prospect directly borders the Grand-Vallée Deposit of Orbite Aluminae Inc.
Mr. Gregory Thomson, P.Geo., is the qualified person for the project as defined by National Instrument 43-101 and he has reviewed this news release.
If you would like to be added the BKT email list please send an email to brookemontinfo@gmail.com.
Conrad Clemiss, President, Director
Brookemont Capital Inc.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
Mr. Gregory Thomson Director of Brookemont states, "Tthis newly discovered anomaly significantly advances the development of our Kenagami Hydrothermal Graphite Prospect. We now have a large target measuring approximately 800 metres by 500 metres. Zenyatta Ventures Ltd. has recently made a discovery of massive hydrothermal graphite and we feel that there is district-wide potential for the discovery of additional magmatic hydrothermal graphite vein-breccia style mineralization similar to Zenyatta's Albany Graphite Deposit.
" Brookemont's new anomaly is of particular interest due its size and the strong overall TDEM response, consequently this will be our main exploration focus going forward."
Brookemont has several ongoing projects including: a) a 100% interest in the "Albany East" Prospect. This land is prospective for hydrothermal (vein) graphite and directly borders Zenyatta Ventures Ltd. property that hosts its hydrothermal graphite deposit. b) a 100-per-cent interest in the Kenagami hydrothermal graphite prospect in Ontario, c) an aluminous clay and rare earth prospect in the Gaspe Bay Region of Quebec. This prospect directly borders the Grand-Vallée Deposit of Orbite Aluminae Inc.
Mr. Gregory Thomson, P.Geo., is the qualified person for the project as defined by National Instrument 43-101 and he has reviewed this news release.
If you would like to be added the BKT email list please send an email to brookemontinfo@gmail.com.
Conrad Clemiss, President, Director
Brookemont Capital Inc.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
Contact Information
-
Brookemont Capital Inc.
Conrad Clemiss
President, Director
1604899-9150
brookemontinfo@gmail.com
www.Brookemontcapital.com
Friday, February 28, 2014
RB Energy Provides an Operations Update for Canada Lithium project in Quebec
RB Energy Inc.
TSX : RBI
OTCQX : CLQMD
RB Energy Inc.
Sophia Shane
(604) 689-7842
sophias@namdo.com
TSX : RBI
OTCQX : CLQMD
February 28, 2014 08:30 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 28, 2014) - RB Energy Inc.
(the "Company" or "RBI" or "RB Energy") (TSX:RBI)(OTCQX:CLQMD) confirms
that it is not aware of any unreleased material information regarding
the Company and provides an update on its lithium operations in Quebec.
On
February 11, 2014 RBI commenced a continuous commissioning run of the
hydro-metallurgical circuit at its wholly owned Quebec Lithium
operation. This commissioning run is scheduled to continue until
mid-March and will provide battery grade lithium carbonate samples to
our customers for quality assessment. In addition, a bulk sample from
this run will be shipped to Tewoo-ERDC, our principal off-take partner,
for commercial testing.
In
mid-March the hydro-metallurgical circuit will be temporarily suspended
for commissioning maintenance and production assessment. Operations and
lithium production will recommence in April in both the flotation and
hydro-metallurgical circuits, culminating in the commissioning of an
optical ore sorter by the beginning of the third quarter. Quebec Lithium
is on track to ramp up to and achieve name plate production levels
(20,000 tonnes of lithium carbonate per annum) by year end.
Commenting
upon the recent production success at Quebec Lithium and recent
developments in the lithium market, Richard Clark, President and CEO of
RB Energy, stated, "The management and operations team of RB Energy are
very pleased with the progress at the Quebec Lithium operation. Our
current production run will provide the necessary lithium carbonate
samples to supply commercial orders from our customers going forward. We
are meeting our initial targets and we are on track to achieve
name-plate throughput of 20,000 tonnes per annum of battery grade
lithium carbonate by year end. Quebec Lithium is the only hard rock
lithium operation in North America and is poised to become a material
player in the exciting future of the lithium battery market."
RBI is a Canadian company formed pursuant to the arrangement involving
Sirocco Mining Inc. and Canada Lithium Corp. It currently owns Aguas
Blancas, an iodine producing mine in northern Chile, and the Quebec
Lithium Project near Val d'Or, the geographical heart of the Quebec
mining industry. The Aguas Blancas mine is currently in production. The
Quebec Lithium Project has completed construction and is in the
commissioning phase. For more information regarding RBI, please refer to
its public filings available at www.sedar.com.
Forward-Looking Statements
Certain
information contained in this news release, including any information
relating to the state of the lithium and iodine industries; statements
regarding our ability and the timing to achieve and sustain commercial
production and name-plate production levels of iodine; our ability to
secure commercial orders from our customers; and our ability to become a
material player in the lithium market are "forward-looking statements".
These forward-looking statements relate to future events or future
performance and reflect the Company's expectations regarding the future
growth, results of operations, business prospects and opportunities of
RBI. These forward-looking statements also reflect the Company's current
internal projections, expectations or beliefs and are based on
information currently available to the Company. In some cases
forward-looking information can be identified by terminology such as
"may", "will", "should", "expect", "intend", "plan", "anticipate",
"believe", "estimate", "projects", "potential", "scheduled", "forecast",
"budget" or the negative of those terms or other comparable
terminology. The estimates and assumptions of RBI underlying the
forward-looking statements in this news release may prove to be
incorrect. Assumptions upon which such forward looking information
include, among other things, successful and timely commissioning,
ramp-up and production at the Québec Lithium Project; the lack of any
further significant capital expenditures during the commissioning stage
or to bring the hydrometallurgical process plant into production; the
continuing support and cooperation of RBI's off-take partners; as well
as financial predictions premised on such assumptions. Although the
Company believes that the forward-looking information contained in this
news release is based on reasonable assumptions, readers cannot be
assured that actual results will be consistent with such statements.
Accordingly, readers are cautioned against placing undue reliance on
forward-looking information. RBI expressly disclaims any intention or
obligation to update or revise any forward-looking information, whether
as a result of new information, events or otherwise, except in
accordance with applicable securities laws.
Contact Information
RB Energy Inc.
Sophia Shane
(604) 689-7842
sophias@namdo.com
Friday, February 21, 2014
San Gold Announces a 60% Increase in Mineral Reserves
San Gold Corporation TSX : SGR
OTCQX : SGRCF
February 20, 2014 20:00 ET
WINNIPEG, MANITOBA--(Marketwired - Feb. 20, 2014) -
San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) today announced an updated
mineral reserve and resource estimate for its Rice Lake Mining Complex.
During 2013, extensive definition drilling and detailed mine planning to integrate the Hinge, 007 and Rice Lakes mines resulted in an increase in proven and probable mineral reserves to 2.7 million tons grading 5.24 grams per tonne containing 405,400 ounces of gold as of December 31, 2013. This is a 60% increase from the proven and probable mineral reserves as of December 31, 2012.
"I am very pleased with the progress made by our technical
team over the past year. The increase in reserves has allowed us to
complete five years of detailed mine planning, thereby providing
improved operational flexibility. Our drilling in 2014 will be primarily
from underground locations in closer proximity to known ore bodies. We
expect to achieve a further increase in the mineral reserve as the year
progresses through the conversion of our large inferred mineral
resource," said Ian Berzins, San Gold's President, CEO and Chief
Operating Officer.
Notes to Mineral Reserve and Resource Estimate TableDuring 2013, extensive definition drilling and detailed mine planning to integrate the Hinge, 007 and Rice Lakes mines resulted in an increase in proven and probable mineral reserves to 2.7 million tons grading 5.24 grams per tonne containing 405,400 ounces of gold as of December 31, 2013. This is a 60% increase from the proven and probable mineral reserves as of December 31, 2012.
- Mineral reserve and resource estimates are calculated in accordance with the CIM Definition Standards on Mineral Resources and Mineral Reserves adopted by CIM Council, 2010.
- Tonnage and ounce estimates have been rounded to the nearest hundred.
- Proven and probable mineral reserves are included in the measured and indicated mineral resources.
- The mineral reserve estimate is based on a gold price of US$1,250 per ounce.
- A cut-off grade of 3.65 g/tonne gold was used for estimating mineral reserves. A cut-off grade of between 2.74 and 3.43 g/tonne gold was used for estimating mineral resources.
- Inferred mineral resources are not in the current mine plan and therefore do not have demonstrated economic viability.
of Exploration. The estimate of mineral reserves was carried out under the supervision of Rolando Jeria, Chief Engineer. Mr. Michaud and Mr. Jeria are Qualified Persons as defined by NI 43-101, and have reviewed and approved this news release.
About San Gold
Cautionary Note
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain "forward-looking statements". All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding forecast gold production, gold grades, recoveries, cash operating costs, potential mineralization, mineral resources, mineral reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable mineral reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of precious metals, as well as those factors discussed in the section entitled "Other MD&A Requirements and Additional Disclosure and Risk Factors" in the Company's most recent quarterly Management's Analysis and Discussion ("MD&A"). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics, and economic potential to be classed as a category of mineral resource. A mineral resource that is classified as "inferred" or "indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable reserves.
Contact Information
-
San Gold Corporation
Ian Berzins
President, CEO, and Chief Operating Officer
Toll Free: 1 (855) 585-4653
San Gold Corporation
Tim Friesen
Investor Relations
Toll Free: 1 (855) 585-4653
sgr@sangold.ca
www.sangold.ca
Tuesday, February 18, 2014
IBC Advanced Alloys inks first contract with Lockheed Martin to supply Beralcast Alloys for the F-35 Fighter project
IBC Advanced Alloys Corp. TSX VENTURE : IB
OTCQX : IAALF
February 18, 2014 09:00 ET
IBC Engineered Materials Awarded Hard Tooling Contract from Lockheed Martin for F-35 Lightning II Application
Tooling for Beralcast® casting of F-35 Lightning II Electro-Optical Targeting System Components
WILMINGTON, MASSACHUSETTS--(Marketwired - Feb. 18, 2014) - IBC Advanced Alloys Corp. (TSX VENTURE:IB)(OTCQX:IAALF) ("IBC" or the "Company")
reports that its wholly owned US subsidiary, IBC Engineered Materials
Corp. ("IBC-EMC"), has been awarded an investment casting hard tooling
contract from Lockheed Martin in support of its F-35 Lightning II
Electro-Optical Targeting System (EOTS).
Under the terms of the contract, IBC-EMC will be responsible for the design, manufacture and implementation of hard tooling to be used as a part of the final qualification process to establish Beralcast® castings as an effective beryllium-aluminum alternative for precision optical components for the F-35 Lightning II.
As previously disclosed, IBC-EMC is demonstrating the viability of Beralcast® castings to improve lead times and affordability of high performance aerospace components made from beryllium aluminum alloys. IBC-EMC has completed several advanced prototype castings and will now use the hard tooling to deliver a first article casting for pre-production approval.
"IBC is pleased to have received a hard tool contract from Lockheed Martin," said Ray White, President of IBC-EMC. "We are committed to demonstrating the viability of Beralcast® castings with a hard tool and to completing the final stages of our materials and processing qualifications."
"It is an honor to be working with Lockheed Martin," said Anthony Dutton, President and CEO of IBC. "Our Company is committed to delivering advanced beryllium aluminum casting solutions, not only for Lockheed Martin and the F-35 Lightning II but also for other aerospace industry initiatives where modulus, weight and cost are critical performance factors."
Beralcast® alloys can be used in virtually any high performance application requiring complex, lightweight and high-stiffness parts and can be substituted for aluminum, magnesium, titanium, metal matrix composites as well as pure beryllium or powder metallurgy beryllium-aluminum. Beralcast's® principal alloys are more than three times stiffer than aluminum with 22% less weight and can be precision-cast for simple and complex three-dimensional stability. These high-modulus alloys are ideal for high performance industrial and high tech components as well as for a wide range of aerospace applications.
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 80 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. IBC is creating a dynamic global beryllium and advanced alloys company. IBC's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQX under the symbol "IAALF".
This news release was prepared by management of IBC, which takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. 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.
This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing activities therefore the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
Under the terms of the contract, IBC-EMC will be responsible for the design, manufacture and implementation of hard tooling to be used as a part of the final qualification process to establish Beralcast® castings as an effective beryllium-aluminum alternative for precision optical components for the F-35 Lightning II.
As previously disclosed, IBC-EMC is demonstrating the viability of Beralcast® castings to improve lead times and affordability of high performance aerospace components made from beryllium aluminum alloys. IBC-EMC has completed several advanced prototype castings and will now use the hard tooling to deliver a first article casting for pre-production approval.
"IBC is pleased to have received a hard tool contract from Lockheed Martin," said Ray White, President of IBC-EMC. "We are committed to demonstrating the viability of Beralcast® castings with a hard tool and to completing the final stages of our materials and processing qualifications."
"It is an honor to be working with Lockheed Martin," said Anthony Dutton, President and CEO of IBC. "Our Company is committed to delivering advanced beryllium aluminum casting solutions, not only for Lockheed Martin and the F-35 Lightning II but also for other aerospace industry initiatives where modulus, weight and cost are critical performance factors."
Beralcast® alloys can be used in virtually any high performance application requiring complex, lightweight and high-stiffness parts and can be substituted for aluminum, magnesium, titanium, metal matrix composites as well as pure beryllium or powder metallurgy beryllium-aluminum. Beralcast's® principal alloys are more than three times stiffer than aluminum with 22% less weight and can be precision-cast for simple and complex three-dimensional stability. These high-modulus alloys are ideal for high performance industrial and high tech components as well as for a wide range of aerospace applications.
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 80 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. IBC is creating a dynamic global beryllium and advanced alloys company. IBC's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQX under the symbol "IAALF".
This news release was prepared by management of IBC, which takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. 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.
This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing activities therefore the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
Contact Information
-
IBC Advanced Alloys Corp.
Ian Tootill
Director of Corporate Communications
(604) 685-6263 ext 110
itootill@ibcadvancedalloys.com
www.ibcadvancedalloys.com
The Howard Group Inc.
Dave Burwell
(403) 221-0915 or Toll Free: 1-888-221-0915
info@howardgroupinc.com
Thursday, February 13, 2014
Mason Graphite Ranked as a Top 10 Mining Sector Performer in the TSX Venture 50®
Mason Graphite Inc. TSX VENTURE : LLG
OTCQX : MGPHF
February 12, 2014 14:39 ET
MONTREAL, QUEBEC--(Marketwired - Feb. 12, 2014) - Mason Graphite Inc.
("Mason Graphite" or the "Company") (TSX VENTURE:LLG)(OTCQX:MGPHF) is
pleased to announce that it has been selected for inclusion in the 2014
"TSX Venture 50®", a ranking of the top 50 emerging public companies listed on the TSX Venture Exchange.
"We are very pleased to be included in the TSX Venture 50® and to be recognized as one of the top ten performing mining companies on the TSX Venture in 2013," commented Benoit Gascon, President and CEO of Mason Graphite. "This recognition demonstrates our management team's hard work and the significant progress we have made in developing our Lac Guéret graphite project. We look forward to keeping this momentum and continuing to deliver results for our shareholders."
The TSX Venture 50® are the top 10 companies listed on the TSX Venture Exchange, in each of the five major industry sectors - mining, oil & gas, technology & life science, diversified industries and clean technology - based on a ranking formula with equal weighting given to return on investment, market cap growth, trading volume and analyst coverage. All data was as of December 31, 2013.
About Mason Graphite Inc.
Mason Graphite is a Canadian mining company focused on the exploration and development of its 100% owned Lac Guéret graphite property, located in northeastern Québec. The property hosts a National Instrument 43-101 compliant Mineral Resource featuring 50,024,000 tonnes grading 15.6% Cg, including 6,672,000 tonnes at 32.4% Cg, in the Measured and Indicated categories and 11,861,000 tonnes grading 17.1% Cg, including 2,637,000 tonnes at 30.5% Cg, in the Inferred category. Excellent potential exists for further mineral resource growth. A Preliminary Economic Assessment study was completed on an earlier 7,600,000 tonne mineral resource estimate from July 2012 which features 22 years of production at 27.4% Cg and a pre-tax internal rate of return of 33.7% (see technical report entitled "NI 43-101 Technical Report on the Mineral Resources Estimation Update 2013 Lac Guéret Graphite Project, Québec-Canada", dated January 17, 2014). The Company's senior management team possesses significant graphite expertise from their experience at Timcal/Imerys, including Benoit Gascon, CPA, CA, who held executive positions for 20 years, including over 6 years as President and CEO; Jean L'Heureux, Eng., Executive Vice-President, Process Development, with over 20 years of experience; and Luc Veilleux, CPA, CA, Chief Financial Officer and Executive Vice-President, with 8 years of experience. Timcal, now owned by Imerys, is one of the largest graphite producers in the world.
Qualified Person
Jean L'Heureux, Eng., Mason Graphite's Executive Vice-President of Process Development and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical content of this press release.
For more information about Mason Graphite, visit www.masongraphite.com or contact info@masongraphite.com.
Stay Connected: Twitter: @MasonGraphite Facebook: /MasonGraphite
Cautionary 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 such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "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; (x) 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 (xx) 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.
Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
The quantity and grade of reported inferred mineral resources in this news release are uncertain in nature and there has been insufficient exploration to define these inferred mineral resources as indicated or measured mineral resources and it is uncertain if further exploration will result in upgrading them to indicated or measured mineral resources.
The PEA is preliminary in nature and includes Inferred Mineral Resources, which are considered too geologically speculative to have mining and economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no certainty that the reserves development, production, and economic forecasts on which the PEA is based will be realized.
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.
"We are very pleased to be included in the TSX Venture 50® and to be recognized as one of the top ten performing mining companies on the TSX Venture in 2013," commented Benoit Gascon, President and CEO of Mason Graphite. "This recognition demonstrates our management team's hard work and the significant progress we have made in developing our Lac Guéret graphite project. We look forward to keeping this momentum and continuing to deliver results for our shareholders."
The TSX Venture 50® are the top 10 companies listed on the TSX Venture Exchange, in each of the five major industry sectors - mining, oil & gas, technology & life science, diversified industries and clean technology - based on a ranking formula with equal weighting given to return on investment, market cap growth, trading volume and analyst coverage. All data was as of December 31, 2013.
About Mason Graphite Inc.
Mason Graphite is a Canadian mining company focused on the exploration and development of its 100% owned Lac Guéret graphite property, located in northeastern Québec. The property hosts a National Instrument 43-101 compliant Mineral Resource featuring 50,024,000 tonnes grading 15.6% Cg, including 6,672,000 tonnes at 32.4% Cg, in the Measured and Indicated categories and 11,861,000 tonnes grading 17.1% Cg, including 2,637,000 tonnes at 30.5% Cg, in the Inferred category. Excellent potential exists for further mineral resource growth. A Preliminary Economic Assessment study was completed on an earlier 7,600,000 tonne mineral resource estimate from July 2012 which features 22 years of production at 27.4% Cg and a pre-tax internal rate of return of 33.7% (see technical report entitled "NI 43-101 Technical Report on the Mineral Resources Estimation Update 2013 Lac Guéret Graphite Project, Québec-Canada", dated January 17, 2014). The Company's senior management team possesses significant graphite expertise from their experience at Timcal/Imerys, including Benoit Gascon, CPA, CA, who held executive positions for 20 years, including over 6 years as President and CEO; Jean L'Heureux, Eng., Executive Vice-President, Process Development, with over 20 years of experience; and Luc Veilleux, CPA, CA, Chief Financial Officer and Executive Vice-President, with 8 years of experience. Timcal, now owned by Imerys, is one of the largest graphite producers in the world.
Qualified Person
Jean L'Heureux, Eng., Mason Graphite's Executive Vice-President of Process Development and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical content of this press release.
For more information about Mason Graphite, visit www.masongraphite.com or contact info@masongraphite.com.
Stay Connected: Twitter: @MasonGraphite Facebook: /MasonGraphite
Cautionary 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 such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "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; (x) 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 (xx) 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.
Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
The quantity and grade of reported inferred mineral resources in this news release are uncertain in nature and there has been insufficient exploration to define these inferred mineral resources as indicated or measured mineral resources and it is uncertain if further exploration will result in upgrading them to indicated or measured mineral resources.
The PEA is preliminary in nature and includes Inferred Mineral Resources, which are considered too geologically speculative to have mining and economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no certainty that the reserves development, production, and economic forecasts on which the PEA is based will be realized.
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
-
Mason Graphite Inc.
Investor Relations
info@masongraphite.com
www.masongraphite.com
Simon Marcotte
Vice-President Corporate Development
+1 (416) 861-5822
Benoit Gascon, President & CEO
Greater Montreal Office
3030 Le Carrefour blvd. Suite 600
Laval QC H7T 2P5
Toronto Office
65 Queen Street West, Suite 800
Toronto, ON M5H 2M5
Tuesday, February 4, 2014
IBC Advanced Alloys Signs Memorandum of Understanding (MOU) with Nu-Cast
Today- Marketwire
IBC Advanced Alloys Corp. (TSX VENTURE: IB)(OTCQX: IAALF) ("IBC" or
the "Company") has signed a non-binding memorandum of understanding
("MOU") with Nu-Cast, Inc. ("Nu-Cast"), based in Londonderry, NH, to
collaborate with IBC on new beryllium-aluminum investment casting
projects and opportunities, initially for the aerospace sector.
The MOU outlines a framework for increasing manufacturing capacity and improving production efficiencies of IBC's proprietary near-net-shape beryllium aluminum castings. The parties will also focus on joint business development initiatives aimed at increasing market share for IBC's castings which offer significant costs savings and improved delivery times compared to the existing production methods.
IBC's casting process has a long and successful history, with over 250,000 castings produced to date, and both companies have identified opportunities for significant growth in the aerospace and other markets. A proposed IBC-Nu-Cast initiative will combine the two companies' complementary skills to address this exciting opportunity and to drive both sector and application growth.
Founded in 1985, Nu-Cast is a recognized global leader of complex aluminum investment castings specializing in large lightweight structures for electronic, optical and aerospace projects. Nu-Cast has an established client base, which includes NASA agencies as well as top tier defense and military contractors including Lockheed-Martin, General Dynamics, Honeywell, Boeing, Northrop Grumman, Raytheon and many others.
The two Companies have identified opportunities to improve manufacturing and marketing efficiencies for beryllium aluminum castings to support future growth. Nu-Cast has extensive experience with aluminum investment castings that will complement IBC's beryllium aluminum casting expertise. Pursuant to the MOU, the parties will initially evaluate and develop opportunities to expand IB-EMC's proprietary Beralcast(R) alloys for aerospace applications.
"Nu-Cast has successfully served the aerospace sector for almost three decades and is an excellent complement to IBC's technology, team and corporate vision," said Don McKitterick, President of Nu-Cast. "Beryllium aluminum alloys have a long history of superior performance in aerospace sector," continued McKitterick, "By combining IBC's propriety and cost effective castings with Nu-Cast's manufacturing and marketing experience, we believe there is enormous potential for growth and we look forward to working with IBC on this opportunity."
"There are many immediate synergies between IBC and Nu-Cast where we can share our respective know-how to better serve the aerospace industry," said Anthony Dutton, President of IBC. "We are delighted to work with Nu-Cast, who has a long and distinguished track record in the aerospace business, and to mutually increase opportunities for Beralcast(R) in the aerospace sector and other industries requiring high performance precision castings."
As recently disclosed, IB-EMC is in the final stages of an advanced qualification process with Lockheed-Martin's Electro-optical Targeting System (EOTS) team in Orlando, FL. IB-EMC is working with the EOTS engineering, design and quality teams to qualify the Company's Beralcast(R) alloys as effective alternatives to improve lead time and affordability of beryllium aluminum aerospace components. IB-EMC has completed several advanced prototype castings which are being used to evaluate Beralcast(R) alloys and castings for high performance optical aerospace components on Lockheed-Martin's F-35 Lightning II aircraft.
Beralcast(R) alloys can be used in virtually any high performance application requiring complex, lightweight and high-stiffness parts and can be substituted for aluminum, magnesium, titanium, metal matrix composites as well as pure beryllium or powder metallurgy beryllium-aluminum. Beralcast's(R) principal alloys are more than three times stiffer than aluminum with 22% less weight and can be precision-cast for simple and complex three-dimensional stability. These high modulus alloys are ideal for high performance industrial and high tech components as well as for a wide range of aerospace applications.
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 80 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. IBC is creating a dynamic global beryllium and advanced alloys company. IBC's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQX under the symbol " IAALF".
This news release was prepared by management of IBC, which takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. 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.
This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing activities therefore the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
Previous:
The MOU outlines a framework for increasing manufacturing capacity and improving production efficiencies of IBC's proprietary near-net-shape beryllium aluminum castings. The parties will also focus on joint business development initiatives aimed at increasing market share for IBC's castings which offer significant costs savings and improved delivery times compared to the existing production methods.
IBC's casting process has a long and successful history, with over 250,000 castings produced to date, and both companies have identified opportunities for significant growth in the aerospace and other markets. A proposed IBC-Nu-Cast initiative will combine the two companies' complementary skills to address this exciting opportunity and to drive both sector and application growth.
Founded in 1985, Nu-Cast is a recognized global leader of complex aluminum investment castings specializing in large lightweight structures for electronic, optical and aerospace projects. Nu-Cast has an established client base, which includes NASA agencies as well as top tier defense and military contractors including Lockheed-Martin, General Dynamics, Honeywell, Boeing, Northrop Grumman, Raytheon and many others.
The two Companies have identified opportunities to improve manufacturing and marketing efficiencies for beryllium aluminum castings to support future growth. Nu-Cast has extensive experience with aluminum investment castings that will complement IBC's beryllium aluminum casting expertise. Pursuant to the MOU, the parties will initially evaluate and develop opportunities to expand IB-EMC's proprietary Beralcast(R) alloys for aerospace applications.
"Nu-Cast has successfully served the aerospace sector for almost three decades and is an excellent complement to IBC's technology, team and corporate vision," said Don McKitterick, President of Nu-Cast. "Beryllium aluminum alloys have a long history of superior performance in aerospace sector," continued McKitterick, "By combining IBC's propriety and cost effective castings with Nu-Cast's manufacturing and marketing experience, we believe there is enormous potential for growth and we look forward to working with IBC on this opportunity."
"There are many immediate synergies between IBC and Nu-Cast where we can share our respective know-how to better serve the aerospace industry," said Anthony Dutton, President of IBC. "We are delighted to work with Nu-Cast, who has a long and distinguished track record in the aerospace business, and to mutually increase opportunities for Beralcast(R) in the aerospace sector and other industries requiring high performance precision castings."
As recently disclosed, IB-EMC is in the final stages of an advanced qualification process with Lockheed-Martin's Electro-optical Targeting System (EOTS) team in Orlando, FL. IB-EMC is working with the EOTS engineering, design and quality teams to qualify the Company's Beralcast(R) alloys as effective alternatives to improve lead time and affordability of beryllium aluminum aerospace components. IB-EMC has completed several advanced prototype castings which are being used to evaluate Beralcast(R) alloys and castings for high performance optical aerospace components on Lockheed-Martin's F-35 Lightning II aircraft.
Beralcast(R) alloys can be used in virtually any high performance application requiring complex, lightweight and high-stiffness parts and can be substituted for aluminum, magnesium, titanium, metal matrix composites as well as pure beryllium or powder metallurgy beryllium-aluminum. Beralcast's(R) principal alloys are more than three times stiffer than aluminum with 22% less weight and can be precision-cast for simple and complex three-dimensional stability. These high modulus alloys are ideal for high performance industrial and high tech components as well as for a wide range of aerospace applications.
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 80 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. IBC is creating a dynamic global beryllium and advanced alloys company. IBC's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQX under the symbol " IAALF".
This news release was prepared by management of IBC, which takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. 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.
This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing activities therefore the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
Contacts: IBC Advanced Alloys Corp. Ian Tootill Director of Corporate Communications (604) 685-6263 ext 110 itootill@ibcadvancedalloys.com www.ibcadvancedalloys.com The Howard Group Inc. Dave Burwell (403) 221-0915 or Toll Free: 1-888-221-0915 info@howardgroupinc.comSOURCE: IBC Advanced Alloys Corp.
Previous:
Oct 31, 2013
IBC
Advanced Alloys Signs MOU with Global Nuclear Fuels America and Ceramic
Tubular Products to Advance Nuclear Fuel Initiatives. IBC Advanced
Alloys Corp. TSX VENTURE : IB OTCQX : IAALF. October 31, 2013 09:30 ...
Jan 17, 2013
IBC
Advanced Alloys Corp. (TSX VENTURE: IB)(OTCQX: IAALD) ("IBC" or the
"Company") announces that its wholly owned subsidiary, IBC Engineered
Materials Corp., a leading supplier of high performance aluminum ...
Nov 02, 2012
IBC
is an integrated manufacturer and distributor of specialty alloys and
related products serving a broad range of industries with production
facilities in Indiana, Massachusetts, Pennsylvania and Missouri. The
Company's ...
Jul 10, 2013
VANCOUVER,
BC – July 9th, 2013 – IBC Advanced Alloys Corp. (TSX-V: IB; OTCQX:
IAALF) (“IBC” or the “Company”) reports that the Massachusetts Institute
of Technology (“MIT”) has completed its initial review and delivered ...
Thursday, January 30, 2014
Focus Graphite Reports a 92% Increase in the Measured and Indicated Mineral Resource Categories at its Lac Knife Flake Graphite Project – to 9.6 million tonnes grading 14.77% Cg
OTTAWA, ONTARIO — (January 28, 2014) – Focus Graphite Inc.
(TSX- V:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) (“Focus” or the “Company”) is
very pleased to announce an update of its National Instrument 43-101
(“NI 43-101”) mineral resource estimate for its 100%-owned Lac Knife
graphite project, in northeastern Québec.
The resource estimate is based on both the 2012 and 2013 additional exploration and definition drilling programs for a total of 92 holes, and 9,103 meters that successfully achieved the designed goal to upgrade the quality of existing Indicated and Inferred resources to the Measured and Indicated categories. This is in addition to 105 previous drill holes that totalled 9,217 meters.
Measured and Indicated resources are now estimated at 9.6 million tonnes grading 14.77% Cg at a 3% Cg cut-off grade. Additionally there are 3.1 million tonnes of Inferred resources at 13.25 % Cg using a 3% cut-off in this updated resource estimate presented in Table 1 below.
The resource estimate is based on both the 2012 and 2013 additional exploration and definition drilling programs for a total of 92 holes, and 9,103 meters that successfully achieved the designed goal to upgrade the quality of existing Indicated and Inferred resources to the Measured and Indicated categories. This is in addition to 105 previous drill holes that totalled 9,217 meters.
Measured and Indicated resources are now estimated at 9.6 million tonnes grading 14.77% Cg at a 3% Cg cut-off grade. Additionally there are 3.1 million tonnes of Inferred resources at 13.25 % Cg using a 3% cut-off in this updated resource estimate presented in Table 1 below.
Table 1. Lac Knife Mineral Resource Estimate
@ 3.0 % graphitic carbon (“Cg”) cut-‐off
@ 3.0 % graphitic carbon (“Cg”) cut-‐off
Mineral resources are not mineral reserves and do not have demonstrated economic viability
Highlights
- Measured and Indicated mineral resources reported at a cut-off of 3.0% Cg increased in tonnage by 92% to 9.6 million tonnes grading 14.77% Cg compared to the previous estimate of 4.9 million tonnes grading 15.76% Cg reported at a cut-off of 5.0% Cg.
- Upgraded 432,000 thousand tonnes of Indicated resources to the Measured resource category grading an average of 23.66% Cg using a 3% cut-off grade.
- The updated resource estimate increased the in-situ Graphite content by 81%.
- The bulk of the 3.0 million tonnes previously classified as Inferred resource was successfully upgraded to the Measured and Indicated categories.
- Delineation of an additional 3.1 million tonnes of Inferred resources that is located within the southwest extension of the Lac Knife deposit.
As shown in Table 2 below, when comparing at the 5% Preliminary
Economic Assessment (PEA) cut-off, the resource tonnage increased by 92%
in the Measured and Indicated categories from 4.9 million tonnes
grading 15.76% Cg in the PEA study to 9.5 million tonnes grading 14.86%
Cg in this new update. This translated to an increase of 81% of in-situ
graphite from 778,000 tonnes to 1.4 million tonnes in the Measured and
Indicated categories.
In the Inferred resource category, the tonnage decreased by 2.0% from 3.0 million tonnes in the PEA study to 2.9 million tonnes in this resource update. The Inferred resource category average grade was reduced from 15.58% Cg to 13.75% Cg resulting in a reduction of 13.5% of in-situ graphite in this category from 467,000 tonnes down to 404,000 tonnes. These changes resulted from converting most of the 3.0 million tonnes of Inferred resources in the PEA study pit to the Measured and Indicated categories, and also by significantly extending the deposit to the south adding an additional 3.1 million tonnes of Inferred resources in the newly delineated South Central Zone which is still considered open in this direction by Focus (See Figure 1).
Another contributing factor was the reduction of the cut-off grade from 5% Cg in the PEA study down to 3% Cg in this update. The reduction in cut-off was driven by a higher selling price and higher concentrate grade.
Table 2. Sensitivity to cut-off change and comparison to previous estimate
The rounding of tonnes as required by NI43-101 reporting guidelines may result in apparent differences between tonnes, grade and contained graphite.
Figure 1. Isometric Representation of the major mineralized zones with resource constraining shell
In the Inferred resource category, the tonnage decreased by 2.0% from 3.0 million tonnes in the PEA study to 2.9 million tonnes in this resource update. The Inferred resource category average grade was reduced from 15.58% Cg to 13.75% Cg resulting in a reduction of 13.5% of in-situ graphite in this category from 467,000 tonnes down to 404,000 tonnes. These changes resulted from converting most of the 3.0 million tonnes of Inferred resources in the PEA study pit to the Measured and Indicated categories, and also by significantly extending the deposit to the south adding an additional 3.1 million tonnes of Inferred resources in the newly delineated South Central Zone which is still considered open in this direction by Focus (See Figure 1).
Another contributing factor was the reduction of the cut-off grade from 5% Cg in the PEA study down to 3% Cg in this update. The reduction in cut-off was driven by a higher selling price and higher concentrate grade.
Table 2. Sensitivity to cut-off change and comparison to previous estimate
The rounding of tonnes as required by NI43-101 reporting guidelines may result in apparent differences between tonnes, grade and contained graphite.
Figure 1. Isometric Representation of the major mineralized zones with resource constraining shell
Focus Graphite President and Chief Operating Officer Don Baxter
stated: “We are very pleased to have further de-risked the Lac Knife
project by increasing the quality and tonnage of the resource. This
updated resource will be incorporated into a mineral reserve estimate in
the feasibility study currently underway with Met-Chem.
“This announcement comes on the heels of our historic announcement of the signing of a 10- year off-take agreement with a Chinese industrial conglomerate, just as China announced it was shutting down approximately 20% of its flake graphite production in Shandong Province. This further illustrates the need for reliable, low cost, high quality graphite flake production outside of China,” Mr. Baxter said.
“Again, Focus is showing that it has strong potential to meet these growing needs, and the updated resource indicates the Lac Knife project could potentially produce high quality graphite flake over a significant mine life, he added”
The updated mineral resource is based on 197 diamond drill holes totaling 18,320 metres of historic and recent drilling. This includes 104 surface diamond drill holes totaling 10,337 metres completed by Focus Graphite since 2010.
Mineral Resources have been reported within a constraining pit shell at a cut-off grade of 3.0% graphitic carbon (“Cg”). Details on the mineral resource estimation procedures are given in the notes below.
The mineralization at Lac Knife is hosted in biotite-quartz-feldspar paragneiss and schist of the Nault Formation, in association with iron formations of the Wabush Formation. These are equivalent to the lower Proterozoic Labrador Trough rocks affected by the late Proterozoic Grenvillian orogeny. High grade metamorphism and folding associated with the Grenvillian orogeny has resulted in the formation of important concentrations of graphite dominated by value-enhanced large flakes.
Once prepared, the samples were sent to the Consortium de Recherche Appliquée en Traitement et Transformation des Substances Minérales (“COREM”), an ISO/IEC 17025:2005 certified facility in Québec-City, for graphitic carbon (Cg) analysis using LECO high frequency combustion method with infrared measurement (internal analytical code LSA-M-B10 for graphitic carbon; ISO 9686:2004). For the measurement of graphitic carbon, the sample is pre-treated with nitric acid, placed in a LECO capsule and introduced in the furnace (1,380oC) in an oxygen atmosphere. Carbon is oxidized to CO2. After the removal of moisture, gas (CO2) is measured by an infrared detector and a computerized system calculates the concentration of graphitic carbon (% Cg). Total sulphur was also analyzed by LECO (code LSA-M-B41) (Table 1). For sulphur determinations, the sample is placed in a LECO capsule and introduced in the furnace (1,380oC) until sulphur is oxidized to SO2. After the removal of moisture, gas (SO2) is measured by an infrared detector and a computerized system calculates the concentration of total sulphur (% S).
Under the QA/QC program, about 10% of the samples were analyzed by COREM for total (code LSA-M-B45), organic (code LSA-M-B58), inorganic (code LSA-M-B11) and graphitic (code LSA-M-B10) carbon as well as for total sulphur. Duplicates of these samples were also sent to ACTLABS Laboratories in Ancaster, Ontario (ISO/IEC 17025:2005 with CAN-P-1579) for graphitic carbon (code 5D – C Graphitic) and total sulphur (code 4F – S Combustion infrared detection) determinations and for 35 multi-element analysis using ICP methods (code 1E2 – Aqua Regia). IOS introduced standards, duplicates (sawing, crushing or grinding duplicates) and blank samples into each batch of core samples as part of the QA/QC program.
President and Chief Operating Officer
705-789-9706
dbaxter@focusgraphite.com
www.focusgraphite.com
“This announcement comes on the heels of our historic announcement of the signing of a 10- year off-take agreement with a Chinese industrial conglomerate, just as China announced it was shutting down approximately 20% of its flake graphite production in Shandong Province. This further illustrates the need for reliable, low cost, high quality graphite flake production outside of China,” Mr. Baxter said.
“Again, Focus is showing that it has strong potential to meet these growing needs, and the updated resource indicates the Lac Knife project could potentially produce high quality graphite flake over a significant mine life, he added”
The updated mineral resource is based on 197 diamond drill holes totaling 18,320 metres of historic and recent drilling. This includes 104 surface diamond drill holes totaling 10,337 metres completed by Focus Graphite since 2010.
Mineral Resources have been reported within a constraining pit shell at a cut-off grade of 3.0% graphitic carbon (“Cg”). Details on the mineral resource estimation procedures are given in the notes below.
Notes on Mineral Resource Estimation Methodology
- Mineral resources are estimated in conformance with the CIM Mineral Resource definitions referred to in NI 43-101 Standards of Disclosure for Mineral Projects. Pierre Desautels, P.Geo. Principal Resource Geologist of AGP Mining Consultants Inc. Qualified Person under NI 43-101 who is an independent of the Company, has prepared and authorized the release of the mineral resource estimates presented herein. Jeffrey Cassoff, Eng. Lead Mining Engineer of Met-Chem Canada Inc. and Qualified Person under NI 43-101 has reviewed the technical content of this News Release. This mineral resource estimate is an update of the resource estimated by Roche Limited Consulting Group effective December 5th, 2011 and later accepted (with a resource classification update) by RPA Consulting as part of a Preliminary Economic Assessment study dated October 30th, 2012.
- All drill holes are composed of diamond drill core that was sampled and assayed over the entire length of mineralized zones by sampling approximately 1.5 meter intervals. A QA/QC program was introduced during the 2010 drill program and was expanded during the 2012 and 2013 drill program to include the insertion of standards, duplicates, and blanks and check assays at a secondary laboratory.
- Specific gravities were determined at the IOS laboratory, located in Chicoutimi Quebec. A total of 5,133 specific gravity results exist in the database that was collected by IOS since the 2010 drill program. Due to the strong correlation between sulphur and the bulk density estimates, a density model was interpolated with the same parameters used for the sulphur model. The interpolated density model ranges from 2.64 g/cm3 to 3.05 g/cm3 averaging 2.81 g/cm3
- Detailed geological logging and sectional interpretations by Focus Graphite led to the development of a three-dimensional (3D) domain model based on lithology and grade boundaries. The wireframe modelling resulted in outlining three major mineralized zones with eight minor accessory zones. Grade is typically above 3% within the wireframes but was as low as 1% in local lower grade zones within high grade domains that were utilized in the variography studies, and in the grade interpolation constraints.
- For the treatment of outliers, each statistical domain was evaluated separately and no top cut was necessary. However, a search restriction of 30 x 30 x 30 meters was imposed on threshold values of 38% Cg in order to restrict the influence of the highest values during the interpolation process.
- The composite intervals selected were 3.0 metres in length.
- A 3D geological block model was generated using GEMS© software. The block model matrix size is 6 x 6 x 5 metres. Ordinary kriging was used for all domains with inverse distance and nearest neighbour check models. The interpolation was carried out in multiple passes with increasing search ellipsoid dimensions. Classification for all models was based primarily on the pass number, distance to the closest composite and the krige variance. The Measured classification was only retained in the area, in proximity to, the bulk sample pits. No adjustment to the classification was made for blocks interpolated primarily with historical holes since these were found to be adequate for resource modelling.
- The reported mineral resources are considered to have reasonable
prospects of economic extraction. Met-Chem created a pit shell using the
Lerchs-Grossman pit optimization algorithm and design parameters
including costs, sales price, and the open pit mine, and concentrator
operating parameters that were derived from theUpdated Preliminary
Economic Assessment (see News Release dated November 7th, 2013) as well
as typical regional cost estimates;
- Selling Price: 2,000 $/t (FOB Sept-Iles);
- Mill Recovery: 91.089%;
- Concentrate Grade: 96.6% Ct;
- Pit Slope: 45 degrees;
- Mining Cost: 6 $/t mined;
- Processing Cost: 40.61 $/t milled;
- Transportation Cost: 25 $/t of concentrate;
- Administration and Infrastructure Cost: 15 $/t milled.
- The resulting pit shell encompasses most of the estimated Measured, Indicated and Inferred Resources. The rounding of tonnes as required by NI 43-101 reporting guidelines may result in apparent differences between tonnes, grade and contained graphite.
- Mineral resources are not mineral reserves and do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
- The quantity and grade of reported Inferred mineral resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred mineral resources as Indicated or Measured mineral resources and it is uncertain if further exploration will result in upgrading them to the Indicated or Measured mineral resource categories.
Lac Knife Project
The Lac Knife project comprises 57 map-designated claims covering 2,986.31 ha located in Esmanville Township (NTS map sheet 23B/11), 27 km south-southwest of the iron-mining town of Fermont, in the Côte-Nord administrative district of Québec. Focus acquired a 100% interest in the project in October 2010. A map showing the location of the Lac Knife project is available on the company’s website at www.focusgraphite.com.The mineralization at Lac Knife is hosted in biotite-quartz-feldspar paragneiss and schist of the Nault Formation, in association with iron formations of the Wabush Formation. These are equivalent to the lower Proterozoic Labrador Trough rocks affected by the late Proterozoic Grenvillian orogeny. High grade metamorphism and folding associated with the Grenvillian orogeny has resulted in the formation of important concentrations of graphite dominated by value-enhanced large flakes.
Sampling, Assaying and QA/QC
The entire drill cores were logged at the Lac Knife camp and shipped to the IOS facilities in Chicoutimi for sample preparation. Two slabs of about 1/4 of the 4 inch diameter PQ core were sawed parallel on each side of the central axis of the core. One of the slabs was earmarked for geochemical analysis while the other slab was kept as a witness sample. Center parts of the core are kept for possible subsequent uses. The samples are mostly 1.5 m in length with variances from 0.5 m to 1.8 m). Slab samples were dried before processing for density measurement, crushing and grinding at the IOS sample preparation laboratory.Once prepared, the samples were sent to the Consortium de Recherche Appliquée en Traitement et Transformation des Substances Minérales (“COREM”), an ISO/IEC 17025:2005 certified facility in Québec-City, for graphitic carbon (Cg) analysis using LECO high frequency combustion method with infrared measurement (internal analytical code LSA-M-B10 for graphitic carbon; ISO 9686:2004). For the measurement of graphitic carbon, the sample is pre-treated with nitric acid, placed in a LECO capsule and introduced in the furnace (1,380oC) in an oxygen atmosphere. Carbon is oxidized to CO2. After the removal of moisture, gas (CO2) is measured by an infrared detector and a computerized system calculates the concentration of graphitic carbon (% Cg). Total sulphur was also analyzed by LECO (code LSA-M-B41) (Table 1). For sulphur determinations, the sample is placed in a LECO capsule and introduced in the furnace (1,380oC) until sulphur is oxidized to SO2. After the removal of moisture, gas (SO2) is measured by an infrared detector and a computerized system calculates the concentration of total sulphur (% S).
Under the QA/QC program, about 10% of the samples were analyzed by COREM for total (code LSA-M-B45), organic (code LSA-M-B58), inorganic (code LSA-M-B11) and graphitic (code LSA-M-B10) carbon as well as for total sulphur. Duplicates of these samples were also sent to ACTLABS Laboratories in Ancaster, Ontario (ISO/IEC 17025:2005 with CAN-P-1579) for graphitic carbon (code 5D – C Graphitic) and total sulphur (code 4F – S Combustion infrared detection) determinations and for 35 multi-element analysis using ICP methods (code 1E2 – Aqua Regia). IOS introduced standards, duplicates (sawing, crushing or grinding duplicates) and blank samples into each batch of core samples as part of the QA/QC program.
Qualified Persons
Benoit Lafrance, Ph.D., geo (Québec), Focus Vice-President of Exploration and Don Baxter, P. Eng., Focus President & Chief Operating Officer, both Qualified Persons as defined by NI 43-101 guidelines, have reviewed and approved the technical content of this news release. Pierre Desautels, P.Geo. Principal Resource Geologist of AGP Mining Consultants Inc. Qualified Person under NI 43-101 who is independent of the Company, has prepared and authorized the release of the mineral resource estimates presented herein. Jeffrey Cassoff, Eng., Lead Mining Engineer of Met-Chem Canada Inc. and Qualified Person under NI 43-101 guidelines has reviewed the technical content of the News Release.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 Estimate* of 9.6 million tons grading 14.77% graphitic carbon (Cg) as crystalline graphite with an additional Inferred Mineral Resource Estimate* of 3.1 million tons grading 13.25% Cg of crystalline graphite. Focus’ goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. On November 7, 2013 the Company released the results of an updated Preliminary Economic Assessment (“PEA”) of the Lac Knife Project which indicated that the project has very good potential to become a graphite producer. As a technology- oriented enterprise with a view to building long-term, sustainable shareholder value, Focus also invests in the development of graphene applications and patents through Grafoid Inc.Forward Looking Statement
This News 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”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “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; (x) 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 (xx) 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 News Release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.Contact:
Mr. Don Baxter, P.EngPresident and Chief Operating Officer
705-789-9706
dbaxter@focusgraphite.com
www.focusgraphite.com
Friday, January 24, 2014
San Gold meets 2013 production forecast
January 23, 2014
San Gold Reports 2013 Production Results
WINNIPEG, MANITOBA--(Marketwired - Jan. 23, 2014) -
San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) today announced preliminary
results of operations at its Rice Lake Mining Complex in Manitoba,
Canada for the fourth quarter and full year ended December 31, 2013.San Gold Reports 2013 Production Results
| 2013 Production Highlights | ||
| Fourth Quarter | Annual | |
| Gold production | 15,118 oz | 75,218 oz |
| Mill production | 148,042 tons | 641,710 tons |
| Mine production | 144,165 tons | 629,311 tons |
| Grade | 3.78 gpt | 4.32 gpt |
| Recovery | 92.7% | 93.1% |
The Company produced 15,118 ounces of gold in the fourth quarter, bringing full year production to 75,218 ounces, consistent with the Company's full-year guidance of between 75,000 and 85,000 ounces. The operation milled 148,042 tons in the quarter at an average daily throughput of 1,609 tons per day and mined 144,165 tons of ore at an average daily rate of 1,567 tons per day. Mill recovery was 92.7% and milled grade was 3.78 grams per tonne. The Company ended the year with approximately 4,000 tons in surface stockpiles.
"2013 was a transitional year for San Gold. While I am disappointed that we did not achieve higher grades during the quarter due to problems with sequencing of stoping activities we did achieve our overall guidance for gold production. On balance we made significant progress during the year towards integrating our Rice Lake operations and developing the underground infrastructure to support the addition of more stoping areas thereby providing better opportunity in future to blend ore zones and add incremental tonnage. During the fourth quarter we successfully developed into the new 710 HW ore zone on 26 Level in Rice Lake where we have begun mining and expect to see higher grade material from this zone in the coming months. In addition we have advanced our development workings on 16 Level underneath the current Hinge workings and we are now positioned to better define the down dip extensions of these zones and add additional stoping areas to the mining mix as the year progresses," said Ian Berzins, San Gold's President, CEO and Chief Operating Officer.
The Company is forecasting production of between 80,000 and 85,000 ounces of gold in 2014 at cash costs of $800 to $900 per ounce. The Company is planning capital expenditures of approximately $36 million related to its underground capital development, definition drilling and investment in property, plant and equipment, a significant reduction compared with capital expenditures of approximately $58 million in 2013. Surface drilling will be largely curtailed and underground drilling will be focused on supporting production and upgrading our large mineral resource. The Company remains well positioned to take advantage of the recent upswing in the Canadian dollar price of gold.
About San Gold
San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Rice Lake Mining Complex near Bissett, Manitoba. The Company employs more than 420 people and is committed to the highest standards of safety and environmental stewardship. San Gold is on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".
For further information on San Gold, please visit www.sangold.ca.
Cautionary Note
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain "forward-looking statements". All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding forecast gold production, gold grades, recoveries, cash operating costs, potential mineralization, mineral resources, mineral reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable mineral reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of precious metals, as well as those factors discussed in the section entitled "Other MD&A Requirements and Additional Disclosure and Risk Factors" in the Company's most recent quarterly Management's Analysis and Discussion ("MD&A"). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Tuesday, January 7, 2014
Berkwood Resources acquires Graphite claims directly adjacent to Mason Graphite's Lac Geuret property
g
the Lac Guéret East Graphite Property, Quebec
Berkwood Resources Ltd. (TSX.V:BKR) (“Berkwood” or “the Company”), is pleased to announce that it has acquired, from a local prospector, additional contiguous ground immediately to the west of its Lac Guéret East Graphite Property located in northeastern Quebec. The newly acquired claims will be added to the current 63 contiguous claim (3,204 ha) Lac Guéret East Graphite Property where during the fall 2012 exploration program the first Graphite bearing zone on the Property was discovered.
The newly acquired claims comprise 7 blocks, (378 ha total) located to the west, and are contiguous with the original Lac Guéret East Graphite Property, which will now directly border Mason Graphite`s Lac Gueret Property over 7 km on its eastern side (see maps below or click here).
Brian Buchanan, President and Director of Berkwood commented: “We
are pleased to have enhanced our evolving graphite exploration property
east of the significant Mason Graphite discoveries. This area of Quebec
is known for high purity, large flake graphite and has been identified
as an ideal geological setting for graphite exploration.”Mason Graphite’s advanced Lac Guéret Property has a NI 43-101 compliant mineral resource estimate with measured & indicated mineral resources of 50 million tonnes grading 15.6% Cgr (including 6.6 million tonnes grading 32.4% Cgr). Berkwood’s Lac Guéret East Graphite Property shares a similar geological environment as Mason Graphite’s Lac Guéret Property including along strike stratigraphic units and structures.
Mason Graphite’s recently updated NI 43-101 mineral resource estimate includes assay data from 170 holes (approximately 26,500 metres) drilled in the GC Zone. Mason reports that the mineral envelope remains open in all directions and the company expects further expansion with additional drilling. The GC Zone lies approximately 1.5 km to the west of Berkwood’s Lac Guéret East Graphite Property boundary.
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