Alabama Graphite Corp. Receives Final Assays Results from Core Holes on its Coosa Drilling Program
17.05.2013 | The Newswire
May 16, 2013 - Sylacauga, AL - Alabama Graphite Corp. (the "Company") (CNSX:ALP) (Frankfurt: 1AG.F WKN A1J35M) is pleased to report assay results from the remaining core holes from its 2012 drilling program at the Coosa Graphite Project, Alabama.Drilling on the 200' by 200' resource grid at the Coosa Project consisted of 54 core holes. With the receipt of the current assays, all of the results have been received. In addition, results from the remaining sonic holes have also been received. The results from these holes will be reported separately.
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. Drill holes on the A, B, C and D-lines were among the last processed as an initial visual inspection of the core suggested that their graphite content was low. In contrast, holes on the northeastern portion of the E-line contained thick intercepts of graphitic schist. To some extent, this corresponds to a small topographic high. Graphitic mineralization found along the E-line remains open to the
north and east.
Below is a table summarizing the significant results from the new core holes:
--------------------------------------------------------------------
|Drill Hole|Area |Total Depth|From (ft)|To (ft)|Drill |Cg% |
| | |?(ft) | | |Thickness|
|
| | | | | |(ft) | |
|------------------------------------------------------------------|
|AGC-B08C |Resource|250’ |No Significant Intercepts
|
| |Grid | | |
|------------------------------------------------------------------|
|AGC-B09C |Resource|49’ |No Significant Intercepts
|
| |Grid | | |
|------------------------------------------------------------------|
|AGC-C03C |Resource|256’ |No Significant Intercepts
|
| |Grid | | |
|------------------------------------------------------------------|
|AGC-D03C |Resource|256’ |No Significant Intercepts
|
| |Grid | | |
|------------------------------------------------------------------|
|AGC-D04C |Resource|250’ |No Significant Intercepts
|
| |Grid | | |
|------------------------------------------------------------------|
|AGC-E04C |Resource|256.5’ |36’ |85’ |49’
|3.08 |
| |Grid | | | | | |
|------------------------------------------------------------------|
|? |? |? And |220’ |250’ |30’
|2.20 |
|------------------------------------------------------------------|
|AGC-E07C |Resource|305’ |23’ |305’ |282’
|2.70 |
| |Grid | | | | | |
|------------------------------------------------------------------|
|AGC-E08C |Resource|276’ |25’ |270’ |245’
|2.90 |
| |Grid | | | | | |
|------------------------------------------------------------------|
|AGC-E09C |Resource|264’ |75’ |264’ |189’
|2.99 |
| |Grid | | | | | |
|------------------------------------------------------------------|
|AGC-I01C |Resource|291’ |40’ |115’ |75’
|2.62 |
| |Grid | | | | | |
|------------------------------------------------------------------|
|? |? |? And |135’ |230’ |95’
|2.35 |
|------------------------------------------------------------------|
|AGC-I02C |Resource|253’ |30’ |120’ |90’
|2.78 |
| |Grid | | | | | |
|------------------------------------------------------------------|
|AGC-I03C |Resource|256’ |130’ |190’ |60’
|2.59 |
| |Grid | | | | | |
|------------------------------------------------------------------|
|AGC-I04C |Resource|296’ |245’ |280’ |35’
|2.82 |
| |Grid | | | | | |
|------------------------------------------------------------------|
|AGC-I05C |Resource|256’ |85’ |200’ |115’
|2.39 |
| |Grid | | | | | |
|------------------------------------------------------------------|
|AGC-I06C |Resource|261’ |35’ |215’ |180’
|2.32 |
| |Grid | | | | | |
|------------------------------------------------------------------|
|? |? |? |70’ |105’ |35’
|3.41 |
| | |Including | | | | |
|------------------------------------------------------------------|
|AGC-I07C |Resource|285’ |165’ |245’ |80’
|3.02 |
| |Grid | | | | | |
|------------------------------------------------------------------|
|AGC-I08C |Resource|265’ |45’ |215’ |170’
|2.64 |
| |Grid | | | | | |
|------------------------------------------------------------------|
|AGC-I09C |Resource|256’ |50’ |250’ |200’
|3.10 |
| |Grid | | | | | |
|------------------------------------------------------------------|
|AGC-J01C |Resource|253’ |60’ |110’ |50’
|2.52 |
| |Grid | | | | | |
|------------------------------------------------------------------|
|? |? |? And |155’ |205’ |50’
|2.33 |
|------------------------------------------------------------------|
|AGC-J09C |Resource|257’ |36’ |70’ |34’
|2.50 |
| |Grid | | | | | |
|------------------------------------------------------------------|
|? |? |? And |170’ |210’ |40’
|2.35 |
|------------------------------------------------------------------|
|? |? |? |? |? |? |?
|
--------------------------------------------------------------------
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, "With the receipt of the final assay results, the Company has completed one phase of its exploration program and has begun the next. Our focus has shifted to preparing the database for delivery to Metal Mining Consultants so that they can begin an initial resource estimate. We are pleased with the drill results and see nothing that should preclude a favorable determination of a resource. The Company also anticipates planning a follow-up drill program later in 2013 to extend the known mineralization."
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.
