Canada Carbon Receives Authorization for Bulk Sampling of 480 Tonnes on Its Miller Mine Graphite Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 10, 2014) - Canada Carbon Inc. (the "Company") (TSX VENTURE:CCB) is pleased to announce that it has received permission to collect and ship up to 480 tonnes of graphite-bearing material from its Miller Mine graphite property in Quebec. According to the authorisation delivered by the Ministry of Natural Resources of Quebec, up to 480 tonnes of material may be extracted for mineralogical testing as well as for distribution to potential purchasers. The sample must be collected between March 15th and September 15th, 2014, and the results of the treatment must be reported to the Ministry by September 15th, 2015. The bulk sample was requested to test the historically mined trench area of the property, along with multiple veins of graphite mineralization found over the area during field exploration by the Company. Stockpiles of graphitic material from historical production have been found in various areas around the former mine and can also be sent out for the purpose of bulk sampling. The removal of surface material in the trench will also help the Company to understand the distribution of graphite pods and veins along the mineralized corridor it has discovered.
Executive Chairman and CEO Mr. R. Bruce Duncan stated, "We are very pleased that the Quebec Ministry of Natural Resources has granted authorization for us to move forward with pilot plant scale testing of this uniquely high-purity graphite deposit. We are excited to be able to generate additional data in support of graphite mining at the Miller Mine, and look forward to reporting the results to our shareholders and to the Ministry." Mr. Duncan further stated, "With this bulk sample permit, and surface exposure of the veins, we can remove the graphitic material using simple excavating equipment. Once our graphitic material is custom milled it can be sold, with any excess returns over cost being applied to fund further exploration and resource definition activities."
The Company is currently in discussions with industry-leading graphite processors with respect to toll milling of the bulk sample material and anticipates having 150-250 tonnes of high-purity graphite concentrate available to ship in the second quarter of 2014.
About the Miller Graphite Mine
The Miller hydrothermal lump-vein historical graphite mine and its related claims cover 94.2 square kilometres and is located 80 km west of Montreal in Grenville Township. The Miller mine is a past graphite producer and was likely the first graphite operation in Canada. Main roads are 800 metres from the mine and connect to secondary roads that access most of the property.
Multiple surface sampling programs conducted in 2013 generated assays of up to 80.1% graphitic carbon (Cg). Hydrometallurgical purification testing resulted in refining a sample to 100% C, and repeated grind and flotation prior to the purification process included a +48 mesh concentrate of 99.1% Cg (100% Ct). The outstanding pre-purification results demonstrated that Miller graphite can be processed into a final product without the need for further treatment. Subsequent testing on the concentrate achieved 99.9978% purity by rapid thermal upgrading methods.
Airborne VTEM surveys generated multiple anomalies that were followed up by ground EM and prospecting. The last exploration campaign completed in late 2013 tested the near-surface continuity of graphite mineralization at the VN1 and VN2 showings. A total of 595.3 metres of drilling was completed and encountered multiple graphite intersections, as well as graphite mineralization to a vertical depth of 39.3 metres (See CCB press release dated November 25th 2013). A mineralized zone is believed to be present along the depth extension of VN2, and additional drilling is planned to further delineate the extension.
Rémi Charbonneau, Ph.D., P. Geo #290 (an Associate of Inlandsis Consultants s.e.n.c.) is an Independent Qualified Person under National Instrument 43-101, and has reviewed and approved the technical information provided in this news release.
On Behalf of the Board of Directors
CANADA CARBON INC.
R. Bruce Duncan, CEO and Director
"Neither 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."
FORWARD LOOKING STATEMENTS: This news release contains "forward-looking information" within the meaning of Canadian securities legislation, which relates to future events or future performance and reflect management's current expectations and assumptions. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Such forward-looking statements involve known and unknown risks and uncertainties, as discussed in the Company's filings with Canadian securities agencies. Various factors may prevent or delay Company's plans, including but not limited to, (i) contractor availability and performance, (ii) weather, (iii) access, (iv) mineral prices, (v) success and failure of the exploration and development carried out at various stages of the program, and (vi) general business, economic, volatile stock price, competitive, political and social conditions. As a consequence, actual results may differ materially from results forecast or suggested in these forward-looking statements and readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
