Alabama Graphite Reports Assay Results from 7 Additional Core Holes at its Coosa Project
25.02.2013 | The Newswire
Sylacauga, February 25, 2013 - Alabama Graphite Corp. (the "Company") (CNSX:ALP) (Frankfurt: 1AG.F WKN A1J35M) is pleased to report additional assay results from its 2012 drilling program at the Coosa Graphite Project, Alabama.Results were received this week from diamond drill holes AGC-E02C, E08C, F04C, F07C, F08C, H02C and H04C. The drill core was logged and sampled at the Company's facility in Sylacauga and shipped to ALS Minerals in Elko, NV, for analysis. The samples were analyzed for graphitic carbon (Cg) by the LECO method. Of interest were the results from hole E08C as previous assay results from holes along the E-line did not contain significant mineralized intervals.
Below is a table summarizing the significant results from the new core holes:
---------------------------------------------------------------
|Drill Hole|Area |Total |From: |To: ft’ |Core |Cg% |
| | |Depth |?ft’ (m)|(m) |Length | |
| | |?ft’ | | |ft’ | |
| | |(m) | | |(m) | |
|-------------------------------------------------------------|
|AGC-E02C |Resource|237’ |190’ |210’ |20’ ? |2.26|
| |Grid |(72.24m) |(57.91m)|(64m) |?(6.1m) | |
|-------------------------------------------------------------|
|AGC-E08C |Resource|276’ |25’ |270’ |245’ |2.90|
| |Grid |(84.12m) |(7.62m) |(82.3m) |(74.68m)| |
|-------------------------------------------------------------|
|AGC- F04C |Resource|256’ |45’ |100’ |55’ |2.35|
| |Grid |(78.03m) |(13.72m)|(30.48m)|(16.76m)| |
|-------------------------------------------------------------|
|? |? |? And |185’ |256’ |71’ |2.69|
| | | |?(56.4m)|(78.03m)|(21.64m)| |
|-------------------------------------------------------------|
|AGC- F07C |Resource|265’ |40’ |265’ |225’ |2.70|
| |Grid |(80.77m) |(12.19m)|(80.77m)|(68.58m)| |
|-------------------------------------------------------------|
|AGC- F08C |Resource|256’ |60’ |250’ |190’ |2.60|
| |Grid |(78.03m) |(18.29m)|(76.2m) |(57.91m)| |
|-------------------------------------------------------------|
|AGC- H02C |Resource|252’ |55’ |195’ |140’ |3.33|
| |Grid |(76.81m) |(16.76m)|(59.44m)|(42.67m)| |
|-------------------------------------------------------------|
|? |? |? |90’ |115’ |25’ |4.24|
| | |Including|(27.43m)|(35.05m)|(7.62m) | |
|-------------------------------------------------------------|
|AGC- H04C |Resource|272’ |59’ |245’ |186’ |2.71|
| |Grid |(82.91m) |(17.98m)|(74.68m)|(56.69m)| |
|-------------------------------------------------------------|
|? |? |? |59’ |75’ |16’ |4.91|
| | |Including|(17.98m)|(22.86m)|(4.88m) | |
---------------------------------------------------------------
A map showing the resource grid and drill holes locations can be found on the Company website at http://alabamagraphite.co.
Dr. Douglas Oliver, VP Exploration, comments, "We remain on track to have all the drill core processed within the month of February. With improved turnaround times at ALS Minerals, we anticipate having all the data in hand by late March. At that point we will deliver the drill results to Metal Mining Consultants, Inc. (formerly Scott E. Wilson Consulting) who will use it to determine an initial mineral resource estimate. Alabama Graphite is dedicated toward moving this project forward as quickly and efficiently as possible." Drilling on the 200 feet by 200 feet resource grid at the Coosa Project consisted of 54 vertical core holes. With the receipt of the current assays, 27, or half of the core drill holes within the resource grid, have been completely processed including logging, processing and receipt of assay results. The remaining 27 core holes are in various stages of the evaluation process. In addition, the majority of the sonic holes drilled through the oxidized portion of the project area are also being processed.
Dana Durgin, P.Geo., a Qualified Person as defined by National Instrument 43-101 and independent consultant to the Company, has reviewed the contents of this press release.
About Alabama Graphite:
Alabama Graphite Corp., through its wholly-owned subsidiary, Alabama Graphite Company Inc., is a graphite exploration and development company whose flagship project "The Coosa Graphite Project" in Coosa County, Alabama encompasses of over 40,000 acres located in an area with significant historical production of crystalline flake graphite. For further details go to www.alabamagraphite.co
ALABAMA GRAPHITE CORP.
Daniel Spine, CEO
(404) 661-6254
Danny Gravelle, Investor Relations
(949) 481-5396
ir@alabamagraphite.co
THE CANADIAN NATIONAL STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Forward-looking information
This release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, including, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as the anticipated timing of processing of drill core and the return of assay values, along with the determination of an initial mineral resource estimate.
Forward-looking information is based on a number of material factors and assumptions, including contracted parties being able to provide services on the agreed timeframes, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking information involves known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, changes in project parameters as plans continue to be refined; future prices of graphitic carbon; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry, as well as those factors disclosed in the company's publicly filed documents. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
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