Alabama Graphite Expands Exploration Efforts: Geophysical Analysis Pending
September 10, 2013 - Sylacauga, Alabama - Alabama Graphite Corp. (the "Company") (CNSX:ALP) (US OTC: ABGPF) (Frankfurt: 1AG.F WKN A1J35M) is in the process of soliciting bids for airborne geophysical surveys for both its Alabama and Ontario exploration projects.
Exploration at the Coosa Project in Alabama has focused on testing areas where surface sampling has indicated significant quantities of graphitic carbon (Cg). Drilling in the Fall of 2012 produced the resource estimate released late last month. In addition, recent fieldwork has confirmed that additional horizons of graphitic schist are present within mineral leases held by the Company including the Fixico Prospect. At the recently acquired Hearst Prospect in Ontario, surface magnetometer and horizontal loop electromagnetic (HLEM) surveys conducted in the 1980s have indicated promising targets.
While the Company is seeking bids to conduct airborne geophysical surveys over both projects, the two projects have different objectives. At the Coosa Project the goal is to evaluate new graphitic schist horizons using the identified resource for calibration. In addition to the primary graphitic horizon, the geophysical survey will also evaluate the Fixico horizon and a third horizon occurring further to the southeast. At the Hearst Project, the objective is to use more modern technology and closer line spacing to get a more detailed view of the historic geophysical targets. Electromagnetic and magnetometer surveys will be conducted simultaneously at both projects as a means of differentiating graphitic from sulfide mineralization.
Dr. Douglas Oliver, VP Exploration, comments, "We look forward to incorporating the results of these geophysical surveys with our existing knowledge of the two projects. At the Coosa Project our goal has changed from discovering a resource to defining higher-grade zones within our land position. At the Hearst Project we are most interested in further refining targets for upcoming drilling. These surveys will be instrumental in moving both projects forward."
The geophysical surveys are expected to be conducted later this Fall.
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. The Coosa Graphite project is 100% owned by Alabama Graphite and on private land. Last month, following less than one calendar year of exploration, the Company disclosed an initial mineral resource estimate for the Coosa Graphite Project prepared by Metals Mining Consultants. In addition, the Company recently acquired a 100% interest in the Hearst Graphite project in Northern Ontario. This gives the Company projects in two of the most significant graphite mining jurisdictions in the world. For further details go to www.alabamagraphite.co
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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