|By Marketwired .||
|October 17, 2013 09:00 AM EDT|
LEVIS, QUEBEC -- (Marketwired) -- 10/17/13 -- Graniz Mondal Inc. (TSX VENTURE:GRA.H) is pleased to announce that the authors of the September 24 2013 Technical Report (NI 43 101 compliant) consider that the current inferred resources of Mousseau West deposit are 4.1 million tonnes with a grade of 6.2 % Gp including 2.7 million tonnes (A Blocks) that are considered to have reached a high level of definition and do not need additional drilling. The B Blocks could come at the same level of confidence than the A Blocks with a small drilling program. With positive results from B Blocks, the resources would immediately qualified as indicated resources. The following total is noteworthy : 3,696,500 tonnes at 6.28 % Gp (A Blocks +B Blocks).
Among other NI 43-101 compliant observations (Filed on SEDAR) related to the deposit, the independent geologists mention that:
- Milling tests performed on the mineralization suggest that a significant portion of large graphite flakes can be recovered.
- Mineralization is similar to TIMCAL's Lac-des-Iles graphite mine, which entered production in 1989 and is still in operation. This indicates high confidence in the possibility of mining, milling and concentrating this graphite mineralization into a final graphite product suitable for consumers.
- Morphology of the deposit as suggested by the authors is very suitable for open pit mining, with a low waste-to-ore stripping ratio.
- A large part of the EM conductive zone to which Mousseau West belongs remains unexplored.
In opinion of authors, Alain Tremblay and Yvan Bussieres (Qualified Persons), the NI 43-101 compliant Inferred resources of the Mousseau West property could quickly be upgraded to NI 43-101 compliant Indicated resources by carrying out minimal exploration work.
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.
Berthe Lambert CEO
Graniz Mondal Inc.