MONTREAL, Sept. 27, 2017 (GLOBE NEWSWIRE) -- SRG GRAPHITE INC. (TSXV:SRG) (“SRG” or the “Company”) today announced that it has engaged Montréal-based Met-Chem, a division of DRA Americas Inc. (“Met-Chem/DRA”), to undertake a Preliminary Economic Assessment (“PEA”) of the Company’s wholly-owned Lola Graphite Project (“Lola”), located in Guinea. The Lola Graphite occurrence has a prospective surface outline of 3.22 km2 of continuous graphitic gneiss. The study will commence immediately with completion of the National Instrument 43-101 compliant PEA expected in December 2017.
The PEA will utilize the geological information as well as the metallurgical and mineral processing data currently available to determine and describe the scope of the potential future mining operation at Lola.
"We are excited about Lola’s economic potential and have high expectations for this project,” said Marc-Antoine Audet, President and CEO, SRG. “We look forward to the completion of the PEA, which will enable us to provide our investors with an independent assessment of its value. Once the PEA is completed, our intention is advance rapidly to upgrade the study to a feasibility level in mid-2018."
Met-Chem/DRA is a globally recognized expert in mine and infrastructure design, including construction and mine operations, resource mapping, metallurgy, cost assessment, process design and administration. They have a track record in the Graphite sector having prepared numerous PEA’s pre-feasibility studies (PFS) and Feasibility Studies (FS) as well as EPCM work in Graphite in Canada and Africa.
About Met-Chem/DRA
The Met-Chem division of DRA Americas was originally established in 1969 as a consulting engineering company, headquartered in Montréal, and provides a wide range of technical and engineering services. Met-Chem is well-recognized for its capabilities in mining, geology and mineral processing and has a talented team of engineering, technical and project management personnel with experience in North America, Latin America, Europe, West Africa and India. DRA is a multi-disciplinary global engineering group that originated in South Africa and delivers mining, mineral processing, energy, water treatment and infrastructure services from concept to commissioning, as well as comprehensive operations and maintenance services for the mineral resources, water, agriculture and energy sectors. DRA has offices in Africa, Australia, Canada, China, India and the United States.
SRG Retains Hybrid Financial Ltd. for Investor Relations Activities
The Company has, subject to regulatory approval, retained the services of Hybrid Financial Ltd. (“Hybrid”) for strategic investor relations initiatives. The initiatives will include marketing, distribution and branding services for the Company with a specific focus on elevating the Company’s profile via investment advisers in Canada and United States.
Pursuant to the agreement, Hybrid will receive a monthly retainer of $14,000. The agreement will commence on October 1, 2017 for an initial term of three months, following which the agreement may be renewed by the Company on a month-to-month basis. The agreement is subject to the approval of the TSX Venture Exchange.
Hybrid Financial Inc. does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest.
About Hybrid Financial
Launched in 2011, Hybrid Financial has a team of 55 professionals with operations in Toronto and Montréal with a proprietary database of over 300,000 US and Canadian brokers.
About SRG Graphite Inc. (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 operate in a socially, environmentally and ethically responsible manner.
For additional information, please visit SRG’s website at www.srggraphite.com.
For more information contact:
SRG Graphite Inc. (SRG)
Dr. Marc-Antoine Audet, President & CEO
Tel.: (514) 726-4158
Email: ceo@srggraphite.com
Jean-Paul Blais
NXT Communications
Tel.: +1 (514) 867-7447
Email: jp@thenxtgroup.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
Certain of the statements made and information contained herein are "forward-looking statements" or “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking statements and forward-looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties.
In addition, forward-looking statements and forward-looking information are based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information or forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.