Saint Jean Carbon Receives Encouraging Results from Part One of the Winter Work Programs

OAKVILLE, Ontario, July 05, 2017 (GLOBE NEWSWIRE) -- Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX-V:SJL) (OTCQB:TORVF), a carbon science company engaged in the design and build of green energy storage, green energy creation and green re-creation through the use of carbon materials. Is pleased to release the results of a small prospecting program which was executed between April 20^th and May 1^st 2016 just before the drilling program (announced on January 12^th, 2017) was started on its Bell Graphite Property, Buckingham area, Quebec. The sampling program will help with future understanding where the Company may find the higher grade zones. The Company expects to be releasing the drill results very soon. Both the sampling and drill results will be used to complete the (PEA) preliminary economic assessment (announced on October 25^th, 2016) that was started in the fall of 2016.

Paul Ogilvie, CEO, commented: “We feel that with the sampling and drill programs now complete we can move to application for a bulk sample. That will be needed for supply of mineralized material to the Company mill, shaping and coating facility now under construction with a goal of completion within the next two months.  The mill will feature a full lab, a complete raw material to finished concentrate product line and a complete line for the production of anode material.”

During March and April 2017, Dynamic Discovery Geoscience of Ottawa managed a ground time-domain electromagnetic (TDEM) Phi Spy survey on the Bell Graphite Property.  The goal of the survey was to identify geophysical responses possibly associated to graphite mineralized occurrences. More particularly, the survey aimed at better defining the location and geometry of conductors previously detected by an airborne TDEM survey. The survey totalled 30.7 km of lines and trails.

Twenty individual conductive anomalies, grouped within eight different ensembles (From “A” to “H”) were defined. Out of the 20 Phi Spy conductors identified, 8 are defined of first priority and 12 of second priority. The old mining sites correspond to long, wide and strong conductors. However, some long linear conductors, picked-up by the Phi Spy, have not been the object of the historical prospecting and were never checked by trenching or drilling.

A NE oriented ridge, located about 400 m west of the old mine, revealed the presence of jumbo flakes in a  5 to 10 m thick calcosilicated paragneiss. Three grab samples taken over a distance of 100 m returned the following assays:

The fourth sample was taken in an old trench located south of the old Bell open-stopes, on strike with the mineralized zones. The old trench was dug and blasted south of a 20 m thick E-W oriented diabase dyke. Graphite flakes are found near the contact between the diabase and the paragneiss. A grab sample returned:

Samples P-269305 and P-269306 taken at some distance north of the long and thick diabase dyke, confirm the presence of a 200 m long and narrow Phi Spy conductor. Assay results are as follows:

Some other graphitic occurrences were found at about 200 m west of the old mine, over a length of 100 m (open on both sides). The flakes are found in a biotitic paragneiss.

About 25 m west of P-269307, two flooded pits have been discovered. Two grab samples taken on the northern wall of the pits returned:

The next four samples were taken on the same stratigraphic band, at about 50 m SW of the double pits, near the contact between the paragneiss and the E-W diabase dyke.

On the south side of the dyke, and on strike with the northern mineralized band, two samples have been picked on an outcrop of biotitic paragneiss. Results are:

The little prospecting program permitted to discover several Graphite mineralized paragneiss bands which were followed over distance of more than 200 m. The most western one presents very large graphite flakes (“jumbo”) of high quality. Two of those bands with high Cg values failed to return conductive anomalies which would indicate that the conductors picked-up by the Phi Spy survey in the central and east part of the property would correspond to thicker and richer graphitic occurrences.

The grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property. The samples were transported to the ALS Laboratory in Val d’Or, Quebec for Cg assaying. Samples were weighed, dried, crushed to 75% passing 2 mm, split to 250 g and pulverized to 85% passing 75 microns. C (graphitic) was analysed after roasting, HCl leaching combustion and IR (LECO).

Christian Derosier, P.Geo., PhD., is the qualified person (QP) as defined in National Instrument 43-101 and, acting on behalf of Saint Jean Carbon, has reviewed and approved the technical content of this news release. 

About Saint Jean Carbon

Saint Jean is a publicly traded carbon science company, with specific interests in energy storage and green energy creation and green re-creation, with holdings in graphite mining and lithium claims in the province of Quebec in Canada.  For the latest information on Saint Jean’s properties and news please refer to the website: http://www.saintjeancarbon.com/

On behalf of the Board of Directors
Saint Jean Carbon Inc.
Paul Ogilvie, CEO and Director

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FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Saint Jean’s business and affairs.  In certain cases, forward-looking statements can be identified by the use of words such as ‘‘plans’’, ‘‘expects’’ or ‘‘does not expect’’, “intends” ‘‘budget’’, ‘‘scheduled’’, ‘‘estimates’’, “forecasts’’, ‘‘intends’’, ‘‘anticipates’’ or variations of such words and phrases or state that certain actions, events or results ‘‘may’’, ‘‘could’’, ‘‘would’’, ‘‘might’’ or ‘‘will be taken’’, ‘‘occur’’ or ‘‘be achieved’’.

These forward-looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially.  The forward-looking statements in this news release assume, inter alia, that the conditions for completion of the Transaction, including regulatory and shareholder approvals, if necessary, will be met.

Although Saint Jean believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that these expectations will prove to be correct.

Statements of past performance should not be construed as an indication of future performance. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement.

All of the forward-looking statements made in this press release are qualified by these cautionary statements.  Readers are cautioned not to place undue reliance on such forward-looking statements.  Forward-looking information is provided as of the date of this press release, and Saint Jean assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws.