Focus Announces New Graphite Discovery at Lac Tetepisca Quebec-900 m Long Graphite Bearing Corridor Hosting 17 Grab Samples A...
November 15 2012 - 8:33AM
Marketwired
Focus Graphite Inc. ("Focus" or the "Company") (TSX
VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) is pleased to announce the
discovery of a new graphite bearing corridor on the Company's
100%-owned Lac Tetepisca property (the "Property") located to the
southwest of the Manicouagan reservoir, 234 km north-northwest of
Baie-Comeau, Quebec. Reconnaissance bedrock sampling carried out
during the summer of 2012 has resulted in the identification of a
900 m long by up to 100 m wide graphite bearing corridor on the
Property. A total of 26 mineralised grab samples define the new
"Manicouagan-Ouest" graphitic corridor, 17 of which host graphitic
carbon(i) (Cgr) grades in excess of 5.59% Cgr (range: 5.59% -
45.80% Cgr; Table 1). The remaining eight (8) grab samples which
delineate the graphitic trend show Cgr grades below 5.00%.
The Lac Tetepisca property is located in the Grenville
geological Province of Quebec. The Manicouagan-Ouest graphitic
corridor is set in metasedimentary rocks of the Mahinek Formation.
The graphite-bearing outcrops within the corridor are composed of
fine to medium grained quartz-feldspar-biotite schist with local
occurrences of garnet and kyanite. Fine to coarse graphite flakes
and associated sulphides make up 10% to 20% of the rocks, with up
to over 50% in strongly mineralized zones.
Gary Economo, President and CEO of Focus Graphite, states "We
are very excited about our Manicouagan-Ouest graphite discovery as
the new interpreted graphite-bearing corridor compares favourably
in terms of length, width and grades to our world class Lac Knife
graphite deposit, currently under advanced mineral development. We
will be planning a comprehensive follow-up exploration program for
Lac Tetepisca in 2013 which will comprise of ground geophysical
surveying, trenching and an initial round of core drilling in order
to confirm the full extension and thickness of the graphitic
corridor."
The new Manicouagan-Ouest graphite discovery is located 10 km
north of the Lac Gueret graphite deposit which hosts National
Instrument (NI) 43-101 compliant Measured and Indicated mineral
resources of 7.6 Mt grading 20.40% Cgr (Source: Roche, 2012:
Technical Report on the Lac Gueret Graphite Project; available at
www.sedar.com under Mason Graphite Inc.).
A map of the Tetepisca property showing the location of the
Manicouagan-Ouest graphite bearing corridor is available on the
Company's website at www.focusgraphite.com.
Table 1. Summary of best grab sample graphitic carbon assays(i)
(greater than 5.00 % Cgr) and related sulfur and zinc assays from
the 2012 Lac Tetepisca property reconnaissance survey.
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Cgr (i)
Sample No. (%) S (%) Zn (ppm)
----------------------------------------------------------------------------
232361 45.80 0.24 57
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232371 27.80 greater than 10.0 1,220
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232358 23.60 9.21 4,160
----------------------------------------------------------------------------
232973 18.80 greater than 10.0 4,370
----------------------------------------------------------------------------
232351 17.50 greater than 10.0 1,320
----------------------------------------------------------------------------
232357 17.40 greater than 10.0 2,360
----------------------------------------------------------------------------
232975 16.95 greater than 10.0 3,450
----------------------------------------------------------------------------
232983 14.45 0.59 254
----------------------------------------------------------------------------
232353 12.45 greater than 10.0 1,190
----------------------------------------------------------------------------
232990 11.80 0.83 274
----------------------------------------------------------------------------
232364 (ii) 10.80 1.41 358
----------------------------------------------------------------------------
232974 10.20 greater than 10.0 1,140
----------------------------------------------------------------------------
232356 7.27 9.89 484
----------------------------------------------------------------------------
232370 7.06 greater than 10.0 166
----------------------------------------------------------------------------
232164 (ii) 6.86 0.30 433
----------------------------------------------------------------------------
232987 6.25 0.46 230
----------------------------------------------------------------------------
232992 6.09 0.35 28
----------------------------------------------------------------------------
232368 5.99 greater than 10.0 135
----------------------------------------------------------------------------
232988 5.59 0.38 144
----------------------------------------------------------------------------
(i) All rock sample carbon analyses performed by ALS Laboratory Group are
delivered as organic carbon (Corg) assays but are expressed here as
graphitic carbon (Cgr) based on the assumption that all carbon contained in
the highly metamorphosed rocks is held within graphite with no carbon as
organic matter.
(ii) Samples collected outside of the Manicouagan-Ouest graphite bearing
corridor
About the Lac Tetepisca graphite property
The Lac Tetepisca property consists of 67 contiguous
map-designated claims ("CDC") covering 3,616.15 ha. The Property is
located in the southwest Manicouagan reservoir area, 234 km
north-northwest of Baie-Comeau, in the Cote-Nord administrative
region of Quebec. The Property is accessible year-round by road by
way of a network of logging roads which start from Route 389. The
property is part of the former Lac Gueret-Nord property of SOQUEM
Inc. and Quinto Technology Inc. Focus acquired 100% mineral rights
to the Property from a third party in 2011.
Quality assurance / Quality control
The Lac Tetepisca exploration program is supervised by Benoit
Lafrance, Ph.D., P.Geo., Focus senior geologist and a Qualified
Person under NI 43-101. Strict quality control protocols have been
applied at the field sampling, sample handling and analytical
stages. Mineralized standard and blank materials have been inserted
in all samples batches. All assays were performed by ALS Laboratory
Group ("ALS") at ALS' Val-d'Or and Vancouver laboratories. ALS is
an ISO 9001:2008 and ISO 17025 qualified assayer that performs and
makes available internal assaying controls. Organic carbon content
is measured on representative 0.1-0.2 g samples digested in dilute
hydrochloric acid (to remove inorganic carbon) using a LECO carbon
analyzer which combines direct combustion and infrared absorption
(ALS Code C-IR06). The LECO detector response is processed and
displayed directly as the percentage of organic carbon (including
graphitic carbon and organic matter). Sulfur and traces elements
were measured by ICP-AES and ICP-MS methods following a four acids
(perchloric; nitric; hydrofluoric; hydrochloric) digestion on a
prepared 0.25 g sample (ALS Code ME-MS61).
Other News
Focus announces that its board of directors has approved an
amendment to the Corporation's stock option plan (the "Plan")
regarding the expiry of outstanding options held by an option
holder who ceases to be an eligible person under the Plan (the
"Date of Termination"). Currently, such options would expire on the
earlier of the original expiry date or twelve (12) months following
the Date of Termination, excluding options granted to persons
performing investor relations activities which are subject to
shorter expiry periods under the Plan. The amendment to the Plan
provides the possibility for the Corporation to impose under any
employment agreement, consulting agreement or any other type of
agreement a shorter period under which options may continue to be
exercisable by the option holder following the Date of
Termination.
About Focus Graphite
Focus Graphite Inc. is an emerging mid-tier junior mining
development company, a technology solutions supplier and a business
innovator. Focus is the owner of the Lac Knife graphite deposit
located in the Cote-Nord region of northeastern Quebec. The Lac
Knife project hosts a NI 43-101 compliant Measured and Indicated
mineral resource of 4.972 Mt grading 15.7% carbon as crystalline
graphite with an additional Inferred mineral resource of 3.000 Mt
grading 15.6% crystalline graphite (Source: Roche, 2012: Technical
report on the Lac Knife graphite project; available at
www.sedar.com). Focus' goal is to assume an industry leadership
position by becoming a low-cost producer of technology-grade
graphite. On October 29th, 2012 the Company released the results of
a Preliminary Economic Analysis ("PEA") of the Lac Knife project
which demonstrates that the project has robust economics and
excellent potential to become a profitable producer of graphite. As
a technology-oriented enterprise with a view to building long-term,
sustainable shareholder value, Focus Graphite is also investing in
the development of graphene applications and patents through
Grafoid Inc.
This press release has been reviewed by Marc-Andre Bernier,
M.Sc., P.Geo. (Ontario and Quebec), Technical Adviser and a
Director of Focus, and a Qualified Person under National Instrument
(NI) 43-101.
Forward Looking Statements - Disclaimer
This news release may contain forward looking statements, being
statements which are not historical facts, and discussions of
future plans and objectives. There can be no assurance that such
statements will prove accurate. Such statements are necessarily
based upon a number of estimates and assumptions that are subject
to numerous risks and uncertainties that could cause actual results
and future events to differ materially from those anticipated or
projected. Important factors that could cause actual results to
differ materially from the Company's expectations are in our
documents filed from time to time with the TSX Venture Exchange and
provincial securities regulators, most of which are available at
www.sedar.com Focus Graphite disclaims any intention or obligation
to revise or update such statements.
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.
Contacts: Mr. Gary Economo President and Chief Executive Officer
613-691-1091, ext. 101geconomo@focusgraphite.com
www.focusgraphite.com