August 5, 2014, Toronto:Great Lakes Graphite Inc. (“Great Lakes”the “Company”),is pleased to announce that it has filed a NI 43-101 Technical Report on the Lochaber Graphite property, which it acquired in May and is currently underway with a resource calculation to determine the grade and tonnage. The report is available for downloading from the Company website: www.GreatLakesGraphite.com/uploads/NI43-101-Lochaber.pdf.
The Lochaber graphite deposit is comprised of 152 mineral claims, covering 9,122 hectares (19.23 square kilometres) in the Buckingham Region of Lochaber Township, 45 kilometres to the northeast of Gatineau, Quebec.The Property, considered prospective for large flake, crystalline graphite, has an historic 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 1800’s and early 1900’s. There are three historical graphite occurrences (the “McLaren”, “Kelly” and “Burke” Showings) and two past producing graphite mines (the “Mayo” and “Plumbago” mines) distributed over an area covering 16 km2.
Mineralization in the historical graphite showings is described below:
Kelly Showing– consists of two parallel zones explored about 90 metres along strike, the first one is approximately 8 metres wide and the second zone located 3 metres to the east is about 1.6 meters wide. These zones contain 15 to 20% coarse flake graphite.
Burke Showing– located approximately 500 metres to the north of Kelly showing, explored in an area of 1.3 to 3m wide and 120m long with 10 to 15% graphite. Some 450m to the west of this showing is another trench where graphite bearing muck was found which indicates that the Burke prospect may potentially continue further to the west along strike.
McLaren Showing– located to the south of Kelly showing, its mineralization is mostly associated with marble unit and quartzofeldspathic gneiss as interpreted from drill hole logs. The surface showing was followed by ground geophysical survey (electromagnetic) and was defined as one of the richest graphite bearing zone in drill holes in 1986.
Plumbago Mine Showing– is located about 5 kilometers to the south of Kelly Showing. The graphite mineralization is in the form of coarse flakes within sheared paragneiss rocks. Flake graphite and slabs of graphite are widely disseminated in this zone with visual estimation of 10 to 15% graphite over an average width of 9 metres. Approximately 545 tonnes of graphite was mined from a 12 metre wide pit in this area.
The Mayo Mine Showing – is located approximately 6 km to the north of the village of Mayo in Buckingham. It was discovered in 1864 and stop producing graphite in 1864 with no record of production. The graphite showing is 9m long and 3m wide with 20% graphite disseminated in crystalline marble rocks (Source: GM 45932, DP 184 MRNF Quebec).
The results from previous exploration work – which included over 7,000 metres drilling, surface trenching and channel sampling, and ground geophysical survey – is providing the basis to carry out a NI 43-101 compliant graphite resource estimate on the property this summer. Based on the results of the resource estimate, the Company will plan a full feasibility study and environmental baseline studies on the Property.
Great Lakes will also undertake a 200kg bulk sample to continue its metallurgical testing on the grade, flake characteristics, recoverability and particle distribution of the material. Material collected from the bulk sample will also be used to initiate a Customer Sampling Program to enable potential customers who have expressed interest to being qualifying the product.
Preliminary metallurgical results indicated the following flake size distribution:
· 48% concentrate +80 mesh,
· 30.50% concentrate between 80 and 200 mesh; and
· 21.50% below 200 mesh.
Paul Gorman, CEO of Great Lakes Graphite commented on the development work at Lochaber by saying, “We are extremely encouraged by the grade and flake size that we have encountered across the property and building out a resource will be a giant step for the company. Once completed, we will have positioned Great Lakes to be one of only a handful of industrial mineral companies poised to plan for production.”
About Great Lakes Graphite:Great Lakes Graphite is an industrial minerals company with the mandate to bring graphite projects to production through the acquisition and development of high quality 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. With the advancement of battery storage, mobile battery systems and alternative energy infrastructure, it is estimated that 20 new graphite mines will be required to keep up with worldwide demand by the year 2020.
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-quality, purified graphite, where pricing and demand continue to rise.
The Company, through strategic acquisitions and capable management intends to become a leader in the industrial minerals marketplace. The Company’s graphite properties are located in the Buckingham and Lochaber Townships 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. Further information regarding Great Lakes can be found on the Company’s website at: www.GreatLakesGraphite.com.
Great Lakes Graphite Inc. trades under the symbol GLK on the TSX Venture Exchange and currently has 50,569,820 shares outstanding (73,748,123 fully diluted).
For more information, please contact:
Paul A. Gorman, CEO First Canadian Capital Corp.
Great Lakes Graphite Inc. Tel:416-742-5600/1-866-580-8891
Tel.: 416-768-6101 Email: [email protected]
Email: [email protected] www.FirstCanadianCapital.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
