September 29, 2014, Toronto - Great Lakes Graphite Inc. (GLK:CA) (“Great Lakes” or the “Company“), announces today that it has staked an additional 12 claims contiguous with the main block of claims included in the Company’s Lochaber Graphite Project in southwestern Québec.
The Lochaber Graphite Project comprised 151 mineral claims, in four contiguous blocks, covering 9,062 ha in Buckingham and Lochaber Townships. The Company is earning a 100% interest in the property as per an option and purchase agreement with Rock Tech Lithium Inc. The new claims add an additional 720 ha to the Project area.
CEO Paul Gorman commented “The additional claims that the Company has staked are on trend with the mineralization that is the focus of our ongoing resource estimate. Given the positive results from beneficiation and graphite-flake classification studies that Great Lakes announced last week, we moved quickly to add these claims to our land package.”
The Lochaber Graphite Project, considered highly prospective for large flake, crystalline graphite, has an historical record of exploration and production. Numerous flake graphite occurrences on the property are some of the oldest graphite showings in Canada, having been discovered in the late 1800s and early 1900s. There are four historical graphite occurrences (the “MacLaren”, “Kelly North”, “Kelly South” and “Burke” showings) and two past producing graphite mines (the “Mayo” and “Plumbago” mines) located within an area of 16 km2 on the main claim block. In light of the Company’s focus in this part of Lochaber Township, Great Lakes has made the decision to not proceed with an option agreement to acquire a 100% interest in certain other claims in Lochaber Township; the Company considers these other claims to have a lower potential for exploration success. This particular option had been in effect since 2012.
John M. Siriunas, P.Eng, VP of Exploration for the Company and a “Qualified Person” under National Instrument 43-101, has reviewed and approved the technical content of this press release.
About Great Lakes Graphite: Great Lakes Graphite Inc. is an industrial minerals company with the mandate to bring graphite projects to production through the acquisition and development of high quality natural graphite properties.
Graphite has moved to the forefront of the Industrial Mineral World as a Critical Mineral required for industrial use and as a major component in the development of new technologies particularly with the advancement of battery storage, mobile battery systems and alternative energy infrastructure.
As there are currently no graphite mines producing in North America, Great Lakes Graphite has the ability to become one of the first producers to supply a growing regional customer base that requires high purity graphite, where pricing and demand continue to rise.
The company, through strategic acquisitions and capable management will become a leader in the industrial minerals marketplace. The Company’s flagship graphite property is located in the Lochaber Township of southwestern Québec. The Company has also entered into option and joint venture agreements with Eloro Resources Inc. on the Summit-Gaber Cobalt property located in the La Grande Greenstone Belt in the James Bay region of Québec.
The Company will has 60,764,819 shares outstanding (90,699,322 fully diluted).
For more information, please contact:
Paul A. Gorman, CEO
Great Lakes Graphite Inc.
First Canadian Capital Corp.
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