|By Marketwired .||
|July 23, 2014 08:00 AM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 07/23/14 -- Graphite One Resources Inc. (TSX VENTURE: GPH)(OTCQX: GPHOF) ("Graphite One" or the "Company") is pleased to announce it has retained the engineering services of TRU Group Inc. ("TRU") to define initial options for development at Graphite Creek. In TRU Group's preliminary report dated June 20, 2014, TRU suggests "proceeding robustly with detailed geological evaluation, attendant test work and the engineering, technical and business studies" to confirm their preliminary findings at Graphite Creek. The report focuses on matching the resource to up-market functionalized end-use compounds, and indicates the following findings:
A summary of the results of the Report indicate (see 'About TRU Group Inc, below):
1. A preliminary assessment suggests that the graphite is amenable for the development of a suitable spherical graphite product that is competitive on quality. There is significant opportunity for the Graphite Creek Project to push downstream by performing additional processing to their expected run of mine ("ROM") concentrate. The products recommended for development and manufacture include: uncoated spherical graphite for use in the Li+ battery market; expanded graphite, exfoliated and micronized, for use in the manufacture of alkaline batteries; jumbo flake graphite that can be sold to the refractory industry; and, micronized graphite, for use in the manufacture of alkaline batteries. The analysis took into account the carbon/graphite content, impurity levels, flake size, and potential for upgrading according to prior test results (see news releases dated April 29, 2013; April 24, 2014; February 28, 2014 and the Technical Report filed on SEDAR which can be viewed on the SEDAR website, www.sedar.com); 2. The strategic significance of the Graphite Creek Project as a secure American-based resource as a substitute for Chinese supply, as well as a competitor against imports from other countries, should not be underestimated.
Anthony Huston, CEO of Graphite One adds, "We are pleased to have this report completed by the TRU Group who are known for their industry-leading expertise and roster of experts. We look forward to progressing the Graphite Creek Deposit to its full potential."
About TRU Group Inc.
TRU Group Inc. provides consulting utilizing an Industry Team global leadership that is unmatched globally in Lithium & Brine; Rare Earths; Magnesium Metal; Coal-Based & Natural Gas Chemicals; and Graphite-Graphene Technology.
The Report was prepared by Mr. Edward R. Anderson, B.Sc. (Eng). Dpl (Market Research), MBA., FCIArb., and Mr. John Roumeliotis, Mining, Metals & Materials Engineering., P.Eng.
Mr. Anderson, President of TRU Project Oversight, has worked extensively for more than twenty years in all aspects of mining, smelting, refining, finance, marketing and operations. He has led TRU for more than fifteen years and directed more than a hundred assignments and all of TRU's graphite projects. This included a graphite anode assignment with Materials and Electrochemical Research Corporation a producer of aluminum graphite, nanotubes, fullerenes, spinel and nanocarbons. Previously he was VP Operations with a USA manufacturer of photonic glass / components and for ten years Director Corporate Planning at Timminco Ltd, a magnesium and specialty metal producer in North America. He also was with Hatch mining & metals engineering in the management consulting unit.
John Roumeliotis, Mining, Metals & Materials Engineering., P.Eng., Vice President Frontier Industries & Study Manager: Processing Specialist and TRU Assignment Study Manager. John Roumeliotis has participated in many assignments for more than five years working mostly as a Study Manager on many aspects of TRU Frontier Industries with a particular focus on processing from resource through mineral, chemical plant, metal smelting, to final products. He has coordinated many major feasibility studies, due diligence reviews and Engineering Studies including process testwork and pilot testing. Previous to TRU he was Manager, Research & Development for Lithium at Raymor Industries. He designed and oversaw the construction of pilot plant equipment and assessed and purchased available technologies for use in the various stages of the extraction process.
About Graphite Creek
The Graphite Creek Property comprises 129 claims totaling 6,799 hectares on the Seward Peninsula of Alaska, 65 kilometers north (40 miles) of a deep sea port at Nome.
Mineralization at the Graphite Creek Property is characterized by coarse crystalline (large flake) graphite (greater than 80mesh) within graphite-bearing schist(s). Please refer to the January 20, 2014 press release where Graphite One reports a NI 43-101 inferred resource of 284.71 million tonnes at 4.5% graphite (including 37.68 million tonnes at 9.2% graphite and 8.63 million tonnes at 12.8% graphite).
About Graphite One Resources Inc.
GRAPHITE ONE RESOURCES INC (TSX VENTURE: GPH)(OTCQX: GPHOF) is exploring with the intent to develop the Graphite Creek Project, USA's only advanced staged large-scale, large flake graphite deposit.
Dean Besserer, P.Geol., Vice President of Exploration for the Company and a "Qualified Person" under National Instrument ("NI") 43-101, is responsible for and has reviewed and approved the technical content of this press release. As well, Mr. John Roumeliotis, P.Eng., for TRU Group Inc, has reviewed and approved the technical content of this press release and is a "Qualified Person" under NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Anthony Huston, CEO, President & Director
For more information on Graphite One Resources Inc please visit the Company's website, www.GraphiteOneResources.com.
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 release.
This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts that address access to capital, regulatory approvals, exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, except as required by applicable securities laws. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.
The mineral resource estimates reported in this press release were prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), as required by Canadian securities regulatory authorities. For United States reporting purposes, the United States Securities and Exchange Commission ("SEC") applies different standards in the classification of mineralization. In particular, while the terms "measured," "indicated" and "inferred" mineral resources are required pursuant to NI 43-101, the SEC does not recognize such terms. Canadian standards differ significantly from the requirements of the SEC. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories constitute or will ever be converted into reserves. In addition, "inferred" mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, issuers must not make any disclosure of results of an economic analysis that includes inferred mineral resources, except in rare cases.
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