CKR Carbon Update on Field Programs
Vancouver, BC (FSCwire) - CKR Carbon Corp.. (“CKR” or the “Company”) (TSX-V: CKR) (CB8–FRANKFURT) (CBULF – USA) is pleased to announce that it is mobilizing staff to site in preparation for the upcoming bulk sample program at its Aukam graphite deposit.
Initial work at site will include the preparation of a 1.6 tonne sample to be shipped to a graphite producer for testing under the terms of our Letter of Intent (See News Release dated March 16, 2016). The bulk sample program is expected to start shortly thereafter and will begin to sort the graphite in the dumps for delivery to the graphite producer as outlined in the Letter of Intent. It is expected that 2,000 to 3,000 tonnes of graphitic material grading 40 to 50% will be shipped during the first program.
Simultaneously with the bulk sampling program the company will undertake an electro-magnetic survey over the shear zone that hosts the graphite occurrences to determine the extent of graphite veins. Historical reports indicate that the shear zone extends for 4km in an east west direction before going under cover in the east. To date, graphite occurrences have been observed at surface over a distance of approximately 430 metres, a maximum width of 110 metres and a vertical height of approximately 130 metres.
The company also announces that it has settled a total of $36,017 of debt (the "Debt") with a creditor that is at arm's length to the Company (the "Debt Settlement"). The Debt is the result of a loan made to the company to reduce Namibian payables (see News Release dated February 18, 2016). The Company has settled the Debt by issuing an aggregate of 450,212 Common Shares at a deemed price of $0.08 per Share to the creditor.
The technical content of this news release was approved by Roger Moss, Ph.D., P.Geo a qualified person as defined by National Instrument 43-101.
About the Aukam Project
CKR has an option to acquire an initial 63% in the Aukam graphite project from Next Graphite. The project is located on 96,000 acres in southern Namibia close to the port city of Luderitz. The property hosts three underground adits which were mined periodically between 1940 and 1974. Five dumps from the historical mining occur on the property and 84 composite samples each weighing 50kg assayed 42% Cg. The samples were taken from 200 tonnes of screened graphitic material resulting from a 500 tonne bulk sample of the dumps.
About CKR Carbon Corporation
CKR Carbon Corp. is focused on high quality natural graphite suitable for use in lithium-ion batteries and graphite foil. We only select projects requiring small capital and a short time to market. The company is listed on the TSX Venture Exchange under the symbol CKR and has 24,055,894 shares outstanding.
For more information: visit the website at www.ckrcarbon.com or contact:
Roger Moss, CEO, +1 416-704-8291 E-mail inquiries: info@ckrcarbon.com
For graphite product enquiries:
Arno Brand, Boswell Projects, +1 416-561-4095 abrand@boswellprojects.com
“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).
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/CKR04042016.pdf
Source: CKR Carbon Corp. (TSX Venture:CKR) http://www.ckr-carbon.com/
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