Graphano
Announces Start of Drilling at Lac Aux
Bouleaux
Vancouver, British
Columbia, January 13, 2022 - Graphano Energy Ltd. (TSXV: GEL, OTC PINK: GELEF, FSE: 97G0) (the "Company"
or "Graphano
Energy") is
pleased to announce that it will start the Phase 1 drilling at its
100% owned Lac
Aux Bouleaux Graphite Property (the
"Property").
In 2021, the Company
completed an initial phase of stripping and trenching on two of
seven target areas identified on the Property. Significant channel
sampling results, as highlighted in Figures 1 and 2 below, have
been returned from both the Zone 1 and Zone 4 targets. Zone 4 is a
new discovery which has seen no previous exploration work in the
past.
Figure 1 - Compilation of Airborne and Ground Geophysical
Conductors with Phase 2 Graphite Showings - Zone 1
Results
Figure 2 - Compilation of Airborne and Ground Geophysical
Conductors with Phase 2 Graphite Showings - Zone 4
Results
Prospecting work also
located high grade graphite mineralization in the Target 6 area
with grab samples assaying 12.9% C-Graph over 0.5 metres. The
Target 6 area is also a new discovery with no history of previous
exploration. It is important to note that the channel sample
results are in most cases minimum thicknesses since the
mineralization remains open for expansion.
Result
Highlights:
Zone 4 (New
Discovery):
-
The high-grade graphite
mineralization discovered correlates with multiple conductive zones
having a combined strike length of over 750 metres. The ground
geophysical survey indicates structural thickening by folding with
maximum anomaly thicknesses to 90 metres.
-
Channel sample results
from Zone 4 include 18.0% C-Graph over 4.0 metres and 5.8% C-Graph
over 8.0 metres which includes 14.8% over 3.0 metres.
Zone 1:
-
Similar to Zone 4, the
graphite mineralization correlates with two distinct conductive
zones having a combined strike length of over 1.4 kilometres. The
ground geophysical survey indicates anomaly thicknesses to 50
metres.
-
Channel sample results
include 7.9% C-Graph over 9.5 metres including 13.9% over 4.5
metres, 7.5% C-Graph over 3.5 metres and 3.9% C-Graph over 8.0
metres with 6.8% over 4.0 metres.
The Company plans to
commence a first phase diamond drill program in approximately three
weeks to evaluate the magnitude of graphite mineralization in the
Zone 1 and 4 areas. Further prospecting, trenching and geological
surveys will assess and advance to drill stage the other target
areas (Zones 2, 3, 5, 6 and 7) identified thus far on the Property
in April/May.
Luisa Moreno, Chief Executive Officer, commented,
"We are pleased with the results of the 2021 exploration campaign
that has led to the discovery of new exploration targets. We are
excited to start the drilling program and we are looking forward to
learning more about the potential of the various graphite showings
on our Property, focusing on two out of the seven zones to
start."
A total 295 samples were collected during the 2021 program from
grab and trench sampling. The sample assays are in the range of
less than 0.05% to 23.5% graphitic carbon (C-Graph), with about 30%
with grade higher than 5% C-Graph. Each channel sample from the
trenching work ranged from a minimum of 50 cm to a maximum of 100
cm long, 5 cm wide and 3-5 cm deep cut in bedrock.
The samples were bagged and tagged using best practices and were
delivered to Activation Laboratories ("ACTLABS"),
Ancaster, Ontario, for sample preparation and analyses using
laboratories' Code 4F-C Graphitic, analyzing C-Graphite (infrared)
where the sample is subjected to a multistage furnace treatment to
remove all forms of carbon with the exception of graphitic carbon;
and C-Total (infrared). ACTLABS is an independent commercial,
accredited ISO Certified Laboratory.
All sampling was completed by and under the supervision of Mr.
Martin Ethier, Géo (#1520), who is a Member of the Order of
Geologists of Québec and the Qualified Person for the purpose of
this news release.
Global Graphite Outlook:
The global graphite market is expected to be worth US$26.8 billion
by 2025 from US$16.4 billion in 2017, registering a CAGR of 8.5%
during the forecast years. The high uptake of graphite across
industries will be attributable to its excellent properties of
thermal shock resistance, stiffness, better strength, and a good
conductor of heat and electricity.
The latest report states that the global graphite market is
expected to witness a positive outlook between the forecast years
of 2021 and 2025. The demand for graphite will be determined by its
usage across applications such as construction, electric vehicles,
foundries, refractories, and lubricants amongst others.
Source:
Research and Markets
- Global $26.8 Bn Graphite Market Analysis & Forecasts,
2017-2020 & 2021-2025
About
Graphano Energy
Graphano Energy Ltd. is
an exploration and development company that is focused on
evaluating, acquiring and developing energy metals resources from
exploration to production.
Graphite is one of the
most in-demand technology minerals that is required for a green and
sustainable world. The Company's Lac Aux Bouleaux property in
Quebec, Canada, has historically been an active area for natural
graphite. With the demand for graphite growing in some of the most
prominent and cutting-edge industries, such as lithium batteries in
electric cars and other energy storage technologies, Graphano
Energy is developing its project to meet the demands of the
future.
ON BEHALF OF THE BOARD
OF DIRECTORS
Luisa Moreno
Chief Executive Officer
and Director
E:
info@graphano.com
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward-Looking Statements:
This
news release contains certain "forward-looking information" and
"forward-looking statements" (collectively "forward-looking
statements") within the meaning of applicable securities
legislation. All statements, other than statements of historical
fact, included herein, without limitation, statements relating the
future operations, including the commencement of a drill program
and other activities of Graphano Energy, are forward-looking
statements. Forward-looking statements are frequently, but not
always, identified by words such as "expects", "anticipates",
"believes", "intends", "estimates", "potential", "possible", and
similar expressions, or statements that events, conditions, or
results "will", "may", "could", or" should" occur or be achieved.
Forward-looking statements in this news release relate to, among
other things, the Company's exploration plans and the impact
thereof. There can be no assurance that such statements will prove
to be accurate, and actual results and future events could differ
materially from those anticipated in such statements.
Forward-looking statements reflect the beliefs, opinions and
projections on the date the statements are made and are based upon
a number of assumptions and estimates that, while considered
reasonable by Graphano Energy, are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors, both known and
unknown, could cause actual results, performance or achievements to
be materially different from the results, performance or
achievements that are or may be expressed or implied by such
forward-looking statements and the parties have made assumptions
and estimates based on or related to many of these factors. Such
factors include, without limitation, the ability to complete
proposed exploration work given the global COVID-19 pandemic, the
results of exploration, continued availability of capital, and
changes in general economic, market and business conditions.
Readers should not place undue reliance on the forward-looking
statements and information contained in this news release
concerning these items. Graphano Energy does not assume any
obligation to update the forward-looking statements of beliefs,
opinions, projections, or other factors, should they change, except
as required by applicable securities laws.
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