NEW YORK, NY / ACCESSWIRE / June 20, 2016 / Next Graphite, Inc. (OTC PINK: GPNE) ("Next Graphite," "GPNE" or the "Company"), a graphite exploration/development stage company in the African Republic of Namibia, is pleased to announce the start-up of the bulk sampling of graphitic material from the dumps at the Aukam graphite project in southern Namibia.
Site construction, including quarters for 30 workers and the building and installation of a screen, has been completed on schedule and on budget. Preparation for the bulk-sampling program including finalizing the infrastructure and clearing graphitic material from the adits and stockpiling on the dumps has also been completed.
The heavy equipment has arrived on site and work is under way. The bulk-sampling program is focussed on separating the graphitic material found in the Aukam dumps from the waste country rock by screening loads of dump material then hand-sorting the screened product. Approximately 500 tonnes of dump material are currently being screened and sorted each day.
Seven sub-samples from a 1.6 tonne sample of screened dump material were recently assayed and averaged 59.4% carbon as graphite (see news release dated June 14, 2016).
"We are very pleased that our joint venture has the bulk-sampling program up and running on schedule and on budget," said Cliff Bream, Chief Executive Officer of Next Graphite. "The rate of screening and hand sorting the dump material has exceeded our expectations, and we congratulate our contractors on this achievement."
As outlined in our joint venture's Letter of Intent (see news release dated March 24, 2016), the Company intends to send up to 5,000 tonnes of graphitic material to the graphite producer, with an initial shipment of 2,000 to 3,000 tonnes in the July-August timeframe as a result of this program.
About Next Graphite, Inc.:
Next Graphite, Inc. is an exploration / development stage company targeting the growing global graphite production industry with the Company's Africa-based Aukam Graphite Project. The Aukam Graphite Mine was established in 1940 in the current Republic of Namibia and produced USD $30 million of graphite at today's prices. The site is located on 34,082 hectares in southern Namibia close to the port city of Luderitz and is estimated to contain a significant amount of high grade, vein type graphitic material.
The property hosts three underground adits that were mined periodically between 1940 and 1974. Five dumps from the historical mining occur on the property and 73 samples from the lower three dumps were assayed and averaged 42% Cg. Next Graphite's joint venture is planning a bulk-sampling program at Aukam, and has a letter of intent to sell the graphitic material produced during the program. Next also intends to put the historical mine back into production and is working on an application for a mining license. The Company maintains high safety and environmental standards and has a comprehensive strategy of social engagement.
For more information, please visit: www.nextgraphite.com.
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Safe Harbor Statement:
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Next Graphite Inc.'s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Africa, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements. Among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Africa, general economic conditions; geopolitical events and regulatory changes, availability of capital, the Company's ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
SOURCE: Next Graphite, Inc.