CKR Acquires 100% Ownership of Montpellier Graphite Project, Quebec
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 25, 2016) - CKR Carbon Corp. ("CKR" or the "Company") (TSX VENTURE:CKR)(FRANKFURT:CB8) is pleased to announce that it has renegotiated the terms of its option agreement to acquire 100% of the Montpellier graphite project in southern Quebec.
The company will issue 400,000 common shares in the capital of the company (the "CKR Shares") to the optioner in lieu of the remaining work commitment of $40,572. The work commitment was the last remaining term of the option agreement dated December 9, 2013 and following the issuance of the CKR Shares, the Company will hold 100% of the property subject to a 2% net smelter return royalty. The Company continues to work on its Aukam graphite project in Namibia.
Montpellier is a potentially significant graphite source in an area of excellent infrastructure that deserves further investigation in the future. The main graphite zone at Montpellier has a width of about 15 meters and was traced by means of trenching and drilling for more than 250 meters along strike and at least 75 metres depth, with some historical holes terminating in mineralization at about 90 metres. Assay results from the historical drilling performed in the 1980s intersected 10.47% carbon as graphite (Cg) over 44.97 meters and 12.33% Cg over 21.65 meters (Source 1984, Ministere de l'Energie et de Ressources Quebec, Report Nos. GM42965, 80p; GM41744, 41p.). Note that estimates of true thickness were not determined in the historical drilling.
The main zone remains open in both directions and further indications of graphite are known along strike. Two drill holes with intercepts of 6.5% Cg over 30 metres and 8.2% Cg over 26 metres occur 160 metres to the southeast and possibly define another zone parallel to the main graphite zone. These zones require further follow up.
The graphite mineralization is associated with paragneisses and two distinct styles have been recognised. Higher graphite content (9-23% cg) is typically observed at the contact between paragneiss/marbles or quartzite/marbles in an altered unit with chlorite and carbonates. These zones, are brecciated or sheared and typically 0.5-7 metres thick.
The second type of graphite mineralization consists of disseminated flake graphite that occurs in marble units, with concentrations ranging from 3 to 6% Cg over much larger intersects with average width of 20 metres.
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 CKR Carbon Corporation
CKR Carbon Corp. is focused on high quality, natural graphite suitable for use in lithium-ion batteries, graphite foil and other value-added high growth technology applications.
The Company's main focus is the Aukam graphite project, in Namibia where it has an option to earn a 63% interest from Next Graphite Inc. It can also, under certain conditions, acquire an additional 10% interest by paying US$185,000 subject to agreement by Next. CKR has completed a bulk sampling program at Aukam, and has a letter of intent to sell the graphitic material produced during the program. CKR is also working on an application for a mining license. The company maintains high safety and environmental standards and has a comprehensive strategy of social engagement. We only select projects requiring low capital and a short time to market. The company is listed on the TSX Venture Exchange under the symbol CKR and has 33.2 million shares outstanding.
For more information: visit the website at www.ckrcarbon.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).
Contact
CKR Carbon Corp.
Roger Moss
CEO
+1 416-704-8291
rmoss@ckrcarbon.com
www.ckrcarbon.com
For graphite product enquiries:
Arno Brand
Boswell Projects
+1 416-561-4095
abrand@boswellprojects.com
