Results of Phase 2 Geology Targets Bulk Testing of Graphite Tailings, Drilling Program, and New Mineralization Found on the Property
NEW YORK, NY and WINDHOEK, NAMIBIA -- (Marketwired) -- 06/17/14 -- Next Graphite, Inc. (OTCQB: GPNE) ("Next Graphite," "GPNE" or the "Company"), a development/exploration stage company in Africa's Republic of Namibia targeting the growing global graphite production industry, today initiated Phase 2 Geology of its Aukam Graphite Project.
Phase 2 of the Aukam Graphite Project will further GPNE's findings and results from its Phase 1 exploration program, reported on June 3, 2014. Next Graphite's independent geological studies have been commissioned to a group of leading graphite geologists, Element12 International, which will further review the following Phase 1 findings:
- Sample results of 49.2% high-grade, graphite content found in graphite bearing rock.
- Random testing of the three major tailing heaps on the property containing approximately 180,000 tons of graphite-bearing rock.
- Prevalence and frequency of lump, crystalline, medium-to-large flake graphite.
- Historical mineral-producing tin and fluorite mines on the property, and other mineral potential on the site, including copper.
Phase 2 Objectives:
The objectives of Phase 2 are to classify the graphite mineralization that occurs on the Aukam site, and establish a pre-economic plan. The Aukam Graphite Project's Phase 2 will be conducted over the next four months and will include bulk-testing programs, an initial drilling program, additional sampling, and validation of additional minerals on GPNE's 125,000-acre property.
"We are carefully following our geology and business plan step-by-step," began Cliff Bream, CEO of Next Graphite. "Though our graphite asset has historical production values and significant amounts of visible graphite on the property, we are conservatively following our plan and adhering to a standardized and proven approach to further validate the visible, and the yet to be extracted, graphite we have on our property. We expect similar, positive results from our Phase 2 study and look forward to reporting the same to our shareholders," 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 of 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 tailing piles, along with competitive projected mining and processing costs. The completion of GPNE's Aukam Graphite Site 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
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 Resource Acquisition'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.
+1 949 397-2522 ext. 3
Source: Next Graphite, Inc.