OTTAWA, ONTARIO–(Newsfile Corp. – May 24, 2023)– Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG) (“”company” again “North“) is pleased to announce the launch of a new training program at Lake Iru (“LDI”) The mine is designed to explore previously untested land with the goal of extending the life of this mine, the only significant producing natural graphite mine in North America.
The Lac des Gilles graphite mine in Quebec, 180 kilometers northwest of Montreal, has been in operation for over 20 years and was acquired by Northern in April 2022. After historical research and detailed review of mine plans, the company identified a number of mines. Target zones within the LDI site include the northern extension of the pit, the western pit wall mineralization, and a number of electromagnetic conductors, some of which already have promising crossings from historic drilling. can be seen.
“The new training program started on May 8th.thconsists of 8,000 meters of drilling, which Northern has previously stated will increase LDI’s mine life and production capacity, including the potential development of its Mousso West deposit, approximately 80 kilometers away. As we move forward with the plan, we are trying to delineate additional mineralization,” Northern Graphite said. Chief Operating Officer Kirsty Liddicourt.
“Historically, Lake Lac de Ile has been underinvested in exploration. We know that LDI will be set up as a graphite supplier, and there are plans to “build a battery anode materials plant,” Northern chief executive Hugh Jackman said. “This drilling program supports our strategy to become a long-term, sustainable and integrated mine-to-market supplier of natural graphite to our traditional customers, and will also support the potential growth resulting from the energy transition and large-scale electrification. We will also meet the growing demand for
The training program is funded from proceeds of $2.25 million in our Philanthropic Flow-Through Private Placement, which closed on April 27, 2023. Preliminary assay results from this program will be available in June.
About Northern Graphite
Northern, a Canadian TSX Venture Exchange listed company, will become a world leader in the production of natural graphite and upgrading it into high-value products critical to the green economy, including anode materials for lithium-ion batteries/EVs, fuel cells and graphene. I am focusing on. advanced industrial technology.
Northern is the only significant graphite producer in North America and will become the third largest producer outside of China once operations in Namibia resume. The company also has two large-scale development projects, Bisset Creek, Ontario and Okanjunde, Namibia, which will be sources of continued production growth in the future. All projects use “battery quality” graphite and are located near infrastructure in politically stable jurisdictions.
Contact us for more information
Guillaume Jacques, CFO
Phone: (613) 271-2124
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qualified person
Gregory Bowes, MBA P.Geo, President of BSc Northern, is a “Qualified Person” as defined by National Instrument 43-101 and has reviewed and approved the contents of this news release.
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Please visit our website. http://www.northerngraphite.com/investors/presentation/Click here for company profile www.sedar.comour social channel listed below, or Please contact us at (613) 271-2124.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements and information often refer to “plans,” “anticipates,” “plans,” “intends,” “believes,” “anticipates,” “estimates,” “could,” characterized by words such as Similar words or statements that a particular event or condition ‘could occur’, ‘will occur’, ‘could occur’ or ‘should occur’. The forward-looking statements in this release include, among other things, statements regarding our intention to complete the training program, the expected results from the training program, and our intention to advance development projects into production and develop our ability to create value. included. Added product. All such forward-looking statements have been made by management based on their experience and perception of historical trends, current conditions, expected future developments and such other factors as they deem appropriate under the circumstances. based on assumptions and analysis. However, these statements are subject to various risks, uncertainties and other factors that could cause actual events or results to differ materially from those projected. This includes, but is not limited to, unexpected changes in laws, rules and regulations or enforcement by applicable authorities. the failure of the other party to perform as agreed; Social anxiety or work anxiety. Fluctuations in commodity prices. Unforeseen failures or deficiencies in infrastructure and failure of ongoing considered research that fails to yield expected results or results that justify and support continued research, development or operations. Readers are cautioned not to place undue reliance on forward-looking information or statements.
Although the forward-looking statements contained in this news release are based on what management believes to be reasonable, the Company cannot assure investors that actual results will match them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, we undertake no obligation to update or revise any forward-looking statements contained herein to reflect events or circumstances after the date of this news release.
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