First Shipment, Minimum 2,000 Tonnes, Scheduled for July-August 2016
NEW YORK, NY and WINDHOEK, REPUBLIC OF NAMIBIA / ACCESSWIRE / June 14, 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 favorable results of assays overseen by our joint venture partner on approximately 160 kilograms of samples sent to TEA-Lab (previously Lilof Enterprises) of Swakopmund, Namibia. The average grade of 59.40% Cg (Carbon as graphite) for initial samples resulted from screening material taken from the Aukam dumps. Average grades of flake graphite deposits typically range from 1.5% to 25% Cg.
Total assay results of seven samples weighing between 20 and 30 kg were in a range of 55.64% to 63.87% Cg (carbon as graphite), averaging 59.40% Cg (results below). While these samples were selected from a larger 1.6 tonne sample, they are not considered representative of the mineralization on the Aukam dumps property as a whole.
|Sample||Carbon as Graphite|
The above seven samples were taken from the 1.6 tonnes shipped as part of our commitment under a Letter of Intent with a vertically integrated graphite producer (previous news release dated March 24, 2016) and are believed to be representative of that larger sample.
"The grade of these samples exceeds expectations based on previous assays of screened bulk samples from the Aukam dumps which averaged 42% Cg," said Cliff Bream, CEO of Next Graphite. "We expect the balance of our 1.6 tonne sample will respond well to processing and look forward to the results of those tests. These initial tests were made in preparing for initial Purchase Order shipments scheduled to begin in July or August of 2016."
Assays were performed at TEA-Lab of Swakopmund. Samples were crushed by hammer and jaw crusher to < 5 mm and split before milling sub-samples to < 200 microns followed by thermo-gravimetric analysis.
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.
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.