Canada Carbon Resumes Drilling and Initiates Resource Estimates for Graphite and Marble
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 19, 2015) - Canada Carbon (the "Company") (TSX VENTUREL:CCB)(OTC PINK:BRUZF)(FRANKFURT:U7N1) is pleased to inform its shareholders that the Company has already completed 750 metres ("m") of diamond drilling on its first 1,500 m drill campaign for 2015. This first campaign of 2015 has two objectives: to expand the currently identified VN6 graphite mineralization, and to provide resource delineation data to define a Resource Estimate for both marble and graphite on the Miller Property. SGS Geostats of Blainville, Québec has been contracted to provide technical advice on the drill program, and to produce a Technical Report which will provide marble and graphite resource estimates based on their findings. The 750 m drilling to-date was completed on the marble units only.
Marble
In 2014, during drilling in the vicinity of the VN3 graphite showing, wide intersections of white marble were encountered, including 60 m in hole DDH13-10 and 20 m in hole DDH13-13. Each of these holes ended in white marble, with the white marble unit open both at depth and on strike. Other shallow holes in the vicinity (DDH13-14 through DDH13-18) also ended in marble. Drill hole location maps and descriptions are available at: http://www.canadacarbon.com/drill-data#jan132015
Consultations with dimensional stone industry representatives revealed that the white marble intersections were continuous enough to warrant further evaluation of the quality and size of the marble unit. The current drill campaign will include approximately 1,100 m in a large grid with spacing of 60 m between holes, to determine the size and shape of the marble unit. Additional resource definition drilling will be conducted, if warranted.
A large marble block (1m by 1m by 0.5 m) as well as marble core samples, representing both surface and sub-surface marble material, will be polished to evaluate their quality as architectural stone. The Company will also investigate the quality of the marble as dimensional stone and as aggregate stone by performing various specification tests including comparing it to the MG-20 standard used by the Government of Québec.
The Company's objective is to determine the potential economic value of the marble found in association with the graphite mineralization on the Miller property.
R. Bruce Duncan, Executive Chairman & CEO of Canada Carbon stated, "It is possible that the Company might be fortunate enough to not only have discovered hydrothermal lump/vein graphite that can be readily upgraded to extremely high purity, but that it is hosted in a marble unit that may itself meet the necessary criteria for having a reasonable prospect of economic extraction."
VN6
Compilation and modeling of recent 2014 drill data has identified open sub-surface mineralized zones of the VN6 graphite showing. In the initial phase of the current campaign, approximately 400 m is scheduled to be drilled with the intent to extend the known mineralization. Additional resource definition drilling will be conducted, if warranted.
Stockpiles
The Company has determined industry best practise guidelines for the sampling of the historically stockpiled graphitic material, so that this material can be included in the planned Technical Report. The collection of representative stockpile samples for assaying of their graphitic content is underway.
Historical graphitic stockpiles have been identified in locations on the property which have not yet been the subject of intensive prospecting activities. Fieldwork, including ground-based electromagnetic geophysical surveys, will proceed in these locations in Q2 of this year.
On January 13th, 2015, the Company announced that it had initiated an academic research program with McGill University and the University of Québec to better understand the processes that formed the Miller hydrothermal graphite. As part of that research, archived reports were searched for references to graphite mineralization in the vicinity of Grenville, Quebec. This search uncovered a previously unknown report entitled "Report on the Pointe aux Chenes Plumbago Mines Situated in Grenville, Canada East", dated November 10th, 1867. The report is available online at: https://archive.org/stream/cihm_12527#page/n11/mode/2up. The author, Charles Bobb, a Mining Engineer, quotes from a site inspection report by Sir William Logan (Director of the Geological Survey of Canada), who had written, "A bed of pure graphite occurs in the Augmentation of Grenville, and has been traced at intervals for a distance of about three miles, running a little east of north."
This historical document references specific claim holdings, and includes maps locating the reported graphite occurrences. These same occurrences lie entirely within the Canada Carbon claims, and they have been plotted on a map of the West Block Virtual Time Domain ElectroMagnetic ("VTEM") anomalies which can be seen at: http://www.canadacarbon.com/reports-maps-data#vtem-west-block.
The Company cautions readers that historical documents such as the Charles Bobb report referenced here cannot be relied upon for either content or accuracy of reporting, other than with respect to verifiable data such as the location of the reported occurrences. To-date, exploration activities have not focussed on the area identified in the Charles Bobb report, however, the Company plans to conduct extensive exploration in the area in the near future. There are no assurances that the planned exploration activity will result in the discovery of graphite mineralization.
Dr. 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.
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 statements, which relate to future events or future performance and reflect management's current expectations and assumptions. 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. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. 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).
