MONTREAL, Feb. 07, 2018 (GLOBE NEWSWIRE) -- SRG Graphite Inc. (TSXV:SRG) (“SRG” or the “Company”) today announced that it has filed a National Instrument 43-101 ("NI 43-101") Technical Report supporting the initial resource estimate for its 100%-owned Lola Graphite Deposit located in the Republic of Guinea, as reported in SRG’s news release dated December 22, 2017.
The maiden mineral resource estimate includes a pit-constrained indicated resource of 4.0 million tonnes (“Mt”) grading 5.7% graphitic carbon (“Cg”) and an inferred resource of 4.6 Mt grading 6.5% Cg, using a cut-off grade of 3.0% Cg. Mineral resources were based on 172 boreholes for 4,936 meters drilled prior to the reference date of September 30th, 2017.
The NI 43-101 Technical Report was prepared by consultant Ghislain Deschenes, P. Geo, of Montréal-based Met-Chem, a division of DRA Americas Inc. Mr. Deschenes is a Qualified Person (“QP”), independent of SRG Graphite, within the meaning of NI 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
The Lola Graphite Project is under the direct supervision of Marc-Antoine Audet, P.Geo., and a QP as defined by National Instrument 43-101.
The NI-43-101 Technical Report may be referenced on SRG’s website at www.srggraphite.com and on SEDAR at www.sedar.com.
ABOUT SRG
SRG is a Canadian-based company focused on developing the Lola graphite deposit located in the Republic of Guinea, West Africa. SRG is committed to operating in a socially, environmentally and ethically responsible manner.
For additional information, please visit SRG’s website at www.srggraphite.com. For more information contact:
Benoit La Salle, Executive Chairman
Tel.: +1 (514) 951-4411
Ugo Landry-Tolszczuk, Eng., CFA, President & COO
Tel.: +1 (514) 679-4196
Email: ultolszczuk@srggraphite.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information, including references to the plans and project of the Company such as proceeding with production at the Company’s Lola Project, proceeding with exploration activities on its permits including Lola and Gogota. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) fluctuations in commodity prices; (vii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (viii) competition faced by the issuer in securing purchasers, offtakers markets, clients and experienced personnel and financing; (ix) access to adequate infrastructure to support mining, processing, development and exploration activities; (x) the risks associated with changes in the mining regulatory regime governing the issuer; (xi) the risks associated with the various environmental regulations the issuer is subject to; (xii) risks related to regulatory and permitting delays; (xiii) risks related to potential conflicts of interest; (xiv) the reliance on key personnel; (xv) liquidity risks; (xvi) the risk of litigation; and (xvii) risk management.
Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward- looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.