Graphite One Drills 47.0M of 6.02% and 166.62M of 4.01% Graphite
(via Thenewswire.ca)
September 12, 2012 - Calgary, Alberta - Graphite One Resources Inc. (GPH: TSX-V, GPHOF: OTCQX) ("Graphite One" or the "Company") is pleased to announce drill results for its Graphite Creek Property. Graphite One has verified that the 16km long EM conductor is directly related to wide scale, high-grade and large-flake graphite mineralization.
Hole GCH001: 128.0 metres of 3.79% including 47.0 metres of 6.02%, and 18.0 metres of 6.1% graphite
Hole 12GC007: 166.62 metres of 4.01% including 30.62 metres of 7.01% and 25.77 metres of 8.14% graphite
"The results from this year's program continue to be exciting as they show us the continuity of this high grade, large flake graphite ore body. We drilled over 2.2km of strike length, which is only 14% of the total strike length identified by our airborne electromagnetic survey. And it's important to understand that this doesn't include the newly discovered Araujo and South Zones," stated Anthony Huston, President and Director for Graphite One Resources. "This year's results continue to demonstrate the significant size and quality potential for this ore body."
Analytical results from diamond drill holes 12GCH001, 002 and 003 and 12GC006 and 007 have been received. The results further confirm that graphite mineralization exposed at surface extends to vertical depths of over 200 metres (see drill hole map attached; see Table below). All drill holes will be used to produce a NI 43-101 compliant graphite resource, anticipated in Q1 2013.
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|Drill Hole |Azimuth |Dip|Depth |Intersection (m)|Graphite|
| | | | | |(% Cg)* |
| |--------| |------|
| |From (m)| |To (m)|
|----------------------------------------------------------------|
|12GCH001 |160 |-50|7.0 |135.0 |128.0 |3.79% |
|----------------------------------------------------------------|
|……including|? |? |7.0 |54.0 |47.0 |6.02% |
|----------------------------------------------------------------|
|……including|? |? |72.0 |90.0 |18.0 |6.1% |
|----------------------------------------------------------------|
|12GCH002 |160 |-50|3.93 |124.0 |120.07 |3.95% |
|----------------------------------------------------------------|
|……including|? |? |3.93 |37.0 |33.07 |6.09% |
|----------------------------------------------------------------|
|……including|? |? |9.0 |29.0 |20.0 |7.95% |
|----------------------------------------------------------------|
|……including|? |? |57.06 |100.87|43.81 |5.31% |
|----------------------------------------------------------------|
|12GCH003 |160 |-50|3.94 |169.77|165.83 |2.96% |
|----------------------------------------------------------------|
|……including|? |? |3.94 |33.25 |29.31 |8.0% |
|----------------------------------------------------------------|
|……including|? |? |3.94 |21.0 |17.06 |11.07% |
|----------------------------------------------------------------|
|……including|? |? |63.0 |101.95|38.95 |4.09% |
|----------------------------------------------------------------|
|12GC006 |160 |-50|13.97 |211.0 |197.03 |2.21% |
|----------------------------------------------------------------|
|……including|? |? |13.97 |70.0 |56.03 |3.69% |
|----------------------------------------------------------------|
|……including|? |? |33.0 |53.0 |20.0 |5.08% |
|----------------------------------------------------------------|
|12GC007 |160 |-50|59.38 |226.0 |166.62 |4.01% |
|----------------------------------------------------------------|
|……including|? |? |59.38 |90.0 |30.62 |7.01% |
|----------------------------------------------------------------|
|……including|? |? |119.0 |144.77|25.77 |8.14% |
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*Cg - Graphitic Carbon (see cross-sections 12GCH001, 002 and 003, GC006, 007 attached)
The drill holes were drilled at -50 degree dip to test true thickness of mineralization. The graphite bearing rocks dip at approximately 60 degrees and are exposed at surface along the dip slope which would be ideal with respect to an open pit mining operation and low strip ratio.
Graphite One has its own core logging and sample preparation laboratory/ facility in Nome, Alaska. The sample preparation laboratory was installed, and is being managed by Actlabs, Ancaster, Ontario. This will ensure Graphite One maintains the highest level of QA/QC and ensures timely receipt of analytical results. Graphite One expects timely receipt of ongoing results. Dean Besserer, P.Geol., V.P. Exploration, manages Graphite One's exploration and development programs and is the Qualified Person as defined by National Instrument 43-101. He supervised the preparation of the technical information in this release.
About Graphite Creek
The Graphite Creek property comprises 89 claims totalling 4,209 hectares on the Seward Peninsula of Alaska, 65 kilometres north of Nome. Mineralization at the Graphite Creek property is characterized by coarse crystalline (large-flake) graphite (more than 80 mesh) within graphite-bearing schist(s). Graphite mineralization is exposed at surface. The large-flake graphite occurs as disseminations and high-grade segregations and lenses in distinctive garnet-bearing quartz biotite schist(s) and biotite schist(s). The host schist(s) is continuous over 16 kilometres of strike length, based on mapping, geophysics, and has an approximate thickness in excess of 250 metres, and is exposed down dip 200 to 250 metres, thus indicating the potential for more than 250 million tonnes of graphite-bearing rock. The estimate of potential tonnage is based on the company's geological mapping in 2011/12 and drilling during 2012. The potential size and grade of the mineralization at the Graphite Creek Property are conceptual in nature as there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in discovery of a mineral resource. The property is three kilometres away from intertidal waters at Windy Cove, approximately 20 kilometres away from road systems, and three kilometres from an airstrip to the southeast.
Graphite One uses Actlabs (Ancaster, Ontario), an ISO/IEC 17025 accredited analytical laboratory. The technique used for determining graphitic carbon is by LECO whereby the pulp is either digested with hydrochloric and perchloric acids, or subjected to a multistage furnace treatment to remove all forms of carbon with the exception of graphitic carbon.
Graphite One Resources is committed to a regimented QA/QC program including utilizing standards, blanks and duplicates as per normal industry standards.
GRAPHITE ONE RESOURCES INC. (GPH: TSX-V, GPHOF: OTCQX) is a mineral exploration company with extensive experience in the state of Alaska and a business strategy to identify, acquire, and explore high potential projects ready for rapid advancement. The Graphite Creek Property on the Seward Peninsula of Alaska fits with the Graphite One business strategy offering significant potential for the discovery and development of a large-flake, graphite deposit exposed at surface. Graphite One has an option to earn a 100% interest in the Graphite Creek Property and plans to rapidly advance the Property to a NI 43-101 compliant resource.
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ON BEHALF OF THE BOARD OF DIRECTORS
(signed)
"Anthony Huston"
For more information on Graphite One Resources Inc. please visit the Company's website, www.GraphiteOneResources.com or contact:
Anthony Huston
President & Director
Tel: (604) 697-2862
Email: AnthonyH@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. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. 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, whether as a result of new information, future events or otherwise, 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
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