Pre-Screened Graphite-Lumps recovered from Tailings, Expecting Analysis Results from Gecko Laboratories in November
NEW YORK and WINDHOEK / ACCESSWIRE / October 15, 2014 / Next Graphite, Inc. (GPNE) ("Next Graphite", "GPNE" or the "Company"), an exploration/development stage company in Africa's Republic of Namibia targeting the growing global graphite production industry and market demand, today announced the Ministry of Environment and Tourism's Environmental Commissioner has granted GPNE clearance to begin drilling and exploration on its 125,000 acre property. The authorization to begin drilling and exploration was provided after review of the Company's Environmental Impact Assessment ("EIA").
"We are proud of the results and the approval by the Ministry of Environment and Tourism and the Karas-regional regulators, which enabled the company to commence with exploration and drilling on our property," began Cliff Bream, CEO of Next Graphite. "Our geologists have already re-qualified areas on our property as priority targets to contain quantities of high-grade, hydrothermal graphite. These lodes contain identifiable high-grade graphitic lumps. We will also evaluate lodes which have been drilled throughout the mine's history to determine if new technologies can discover previously untapped veins and lenses within the reaches of the former pits and adits. Additionally, we now have clearance to do new drilling on the property and have just completed our detailed geological mapping of the area in preparation for initial drilling"
On August 28, the Company announced it has screened and shipped samples of yields from its 180,000 metric tonne mine heaps which were sent for laboratory testing and grading at Gecko Laboratories in Namibia and SGS Lakefield's facilities in Canada. The result of Next Graphite's 'Part 1' and future, 'Part 2', of its Bulk Testing Phase will confirm the quality, grade, and flake size of its natural, flake graphite. The graphite grading tests are being conducted exclusively at Gecko Laboratories in Namibia from which the Company expects results in late October to early November, 2014.
"While pleased that our exploration has been given the 'greenlight' by the Ministry, we remain focused on the grading results we will receive from our laboratories," Bream added. "Our mine heaps have always been considered an existing asset of our Company and one that could produce a stream of initial revenue to fund our growth and operations. Grading results are critical for our geologists to quantify the value of graphite in our mine heaps determine the level of processing needed to commercialize this asset. In our order of operations, results from grading in the near term will support the initiation of our exploration plans."
About Next Graphite, Inc.:
Next Graphite, Inc. is an exploration/development stage company targeting the growing global graphite production industry with the Company's 125,000-acre 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 Graphite property is estimated to still contain a significant amount of high grade, vein type graphitic material. Global graphite demand is being driven by the development of new markets for clean and efficient energy alternatives, smart grid infrastructure and military capabilities. Next Graphite has an immediately available, surface-visible, estimated 180,000-tonne mine heap along with competitive projected mining and processing costs. The completion of GPNE's Aukam Graphite Mine re-launch and development activities are expected to result in a multi-million dollar inward investment into Namibia commencing in 2014-2015.
For more information, please visit: www.nextgraphite.com
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.
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SOURCE: Next Graphite, Inc.