FGR Fengro Industries Corp

First Graphite Corp. (TSX VENTURE:FGR) (the "Company" or "First Graphite") is
pleased to announce that that it has retained Geotech Ltd. to conduct an
airborne Versatile Time Domain Electromagnetic (VTEM) and a horizontal magnetic
gradiometer survey over its Henry Property. The property is comprised of six
mineral claims and covers 22,850 hectares of land near the community of Southend
Saskatchewan. Based on the results of historical exploration and its proximity
to the Deep Bay Deposit, the Company believes that the Henry Property has the
potential to host near-surface graphite deposits containing scarce, large-flake,
high purity graphite.


The purpose of the survey is to confirm the historically identified
graphite-bearing outcrops and conductors, and to identify new targets for
follow-up work. The interpretation of this data, along with the historic
drill-hole intersections of graphite and existing structural information, will
be used for advanced forward plate modelling of the graphitic horizons at depth.
This interpretation will be conducted by Living Sky Geophysics Inc., of
Saskatoon, Saskatchewan, and will guide future exploration. Future exploration
is anticipated to include surface sampling, mapping and drilling.


The helicopter-borne VTEM survey, which is expected to commence within the next
few days, will cover the entire property (1452 line kilometres), at 200-meter
line spacing, and is expected to take about one week to complete. Geotech's VTEM
plus system is excellent for locating discrete conductive anomalies as well as
mapping lateral and vertical variations in resistivity. The VTEM plus system is
equipped with a high-sensitivity magnetic gradiometer for mapping geologic
structure and lithology. VTEM plus offers the industry's highest signal/noise
ratio and spatial resolution of conductors and unparalleled depth of
investigation.


The technical information in this news release has been reviewed on behalf of
the Company by Neil McCallum, P.Geo., of Dahrouge Geological Consulting Ltd., a
Qualified Person pursuant to National Instrument 43-101.


About Geotech Ltd.

Geotech has conducted airborne electromagnetic geophysical surveys for more than
three decades using proprietary technology and has created a long history of
notable innovations. Innovation is the secret to Geotech's sustainability,
making Geotech the longest running company to offer airborne electromagnetic
surveying, world-wide. In the last decade Geotech introduced to the world the
first helicopter-borne time domain EM system. The VTEM airborne EM system, with
its superior S/N ratio, is still the industry standard, able to detect deep
conductors that are "lost" in the noise of other TEM systems. 


Graphite 

Graphite is a polymer of carbon that comes in three naturally occurring forms -
flake, amorphous, and lump. All three are found in metamorphic as well as
igneous rocks, varying by grade, particle (mesh) size and moisture content.
Graphite exhibits a number of characteristics, which make it a high value
industrial mineral with a broad range of applications: it is an excellent
conductor of heat and electricity, is resistant to strong acids and thermal
shock, is a lubricant, is refractive and has the highest natural strength and
stiffness of any known material. 


The total worldwide graphite market is currently estimated to be US$12 billion.
At present, the largest end use markets for graphite are the steel and
automotive industries. However in recent years, emerging markets, including
green energy development (fuel cells, solar energy and nuclear power) and
batteries (lithium-ion and vanadium-redox) are creating the potential for
incremental increases in demand. Meanwhile, the closure of a number of natural
graphite mines in China, the world's largest producer, is reducing world-wide
supply. 


About First Graphite

First Graphite Corp. is a Vancouver-based mineral exploration company focused on
the development of graphite projects in Canada. The company currently has three
graphite properties led by its flag ship project, the Henry Graphite property,
located near the Deep Bay Graphite Mine in north-eastern Saskatchewan, Canada.


This news release contains certain statements that may be deemed
"forward-looking statements. Forward looking statements are statements that are
not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although First Graphite Corp.
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results or realities may differ materially from those in
forward looking statements. Forward looking statements are based on the beliefs,
estimates and opinions of First Graphite Corp.'s management on the date the
statements are made. Except as required by law, First Graphite Corp. undertakes
no obligation to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should change.

Fengro Industries (TSXV:FGR)
Historical Stock Chart
From Nov 2024 to Dec 2024

Fengro Industries (TSXV:FGR)
Historical Stock Chart
From Dec 2023 to Dec 2024