GPNE's Independent Advisory Team of Leading Graphite Experts From E12 Provide Encouraging Findings
NEW YORK, NY and WINDHOEK, NAMIBIA -- (Marketwired) -- 06/04/14 -- Next Graphite, Inc. (OTCQB: GPNE) ("Next Graphite", or the "Company"), a development/exploration stage company in Africa's Republic of Namibia targeting the growing global graphite production industry, today announced preliminary results of its commissioned, independent geological interpretation of the Company's Aukam graphite Project. The study was conducted by E12, a leading mining and geology consultancy. Below is an extract of the E12 study titled "Property Report" provided by Next Graphite, Inc.
Property Report Summary:
The Aukum Graphite Property ("Aukam" or "Aukam Property") is located near the southern border of Namibia,169km from the coastal town of Luderitz Bay. The Aukum property includes a total of 491 square kilometers with existing infrastructure and road, and port access to the property in all seasons. The Aukum graphite deposit was mined periodically from 1940 to 1974 and produced approximately 25,000 tons of graphite exported to South Africa during the same time period.
The 'Property Report' details a preliminary site investigation that was conducted between December 2013 and April 2014.
- There are nine major vein lodes on the site, all which have characteristics of being well-mineralized.
- Initial exploration, sampling, and testing on five vein lodes provided preliminary information on grade, flake size, distribution and flotation characteristics of the ore blend.
- An average sample graded 49.2% high-grade graphite content.
- An 80% average recovery was achieved with limited liberation of the ore in flotation tests.
- There are three major tailing heaps on the property and it is estimated that they contain about 180,000 tons of graphite-bearing rock.
- All three tailings have visible graphitic content.
- The graphite mineralization consists of lump, crystalline medium to large flake graphite.
- Judging from the flake size distribution, the graphite could be suitable for use in refractories, crucibles, fuel cells, automotive brake pads, foundry coatings, and silicone carbides.
- There are also historical mineral-producing tin and fluorite mines on the property, and there is other mineral potential on the site, including copper.
"We are pleased with the findings of E12, and we are eager for more results and further graphite grade and purity testing," began Cliff Bream, CEO of Next Graphite. "The upcoming Phase II of our commissioned property study will be used to better understand the graphite mineralization that occurs on site, and establish a pre-economic plan. We intend to keep our shareholders and followers of GPNE up to day every step of the way." Bream concluded.
About Next Graphite, Inc.:
Next Graphite, Inc. is a development/exploration stage company targeting the growing global graphite industry with the Company's 125,000-acre Namibian-based Aukam Graphite Project. The Aukam Graphite Mine was established in 1940 in the current Republic of Namibia, produced USD$30 million of graphite at today's prices, and is estimated to contain, high-grade, large-flake, hydrothermal-sourced graphite mineralization. It is estimated that the shear-zone hosting the deposit contains about 3.2 million tons remobilized rock. 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 tailings pile, along with competitive projected mining and processing costs. The completion of GPNE's Aukam Graphite Mine re-launch and development activities is expected to result in a multi-million dollar inward investment into Namibia in 2014-2015.
For more information, please visit: www.nextgraphite.com
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Source: Next Graphite, Inc.