Gratomic Inc. Mobilizes Drill Fleet to Further Delineate Graphite Mineralization
Gratomic Inc. (OTC Pink:CBULF) has initiated a comprehensive diamond drill program at its Aukam Graphite Project in Namibia. The program will target known graphite mineralization and include exploratory drilling based on recent geophysical surveys. The first phase will focus on infill drilling in ML215, while the second phase will examine structures in EPL3895 and EPL6710. This initiative aims to assist in calculating a NI 43-101 mineral resource and support a Preliminary Economic Assessment (PEA). Gratomic anticipates operational capabilities in late 2020 and plans to commence graphite processing in early 2021.
- Mobilization of all three drills for a strategic diamond drill program.
- Targeting known graphite mineralization areas expected to enhance resource calculations.
- Planned completion of a Graphite Processing Plant in Q4-2020.
- Fulfillment of two off-take agreements slated to begin in late 2020.
- Reliance on favorable geophysical survey results for drilling validation.
- Potential delays in operational capabilities due to external factors.
TORONTO, ON / ACCESSWIRE / October 19, 2020 / Gratomic Inc. ("GRAT" or the "Company") (TSXV:GRAT)(OTC Pink:CBULF)(FRANKFURT:CB81)(WKN:A143MR) is pleased to provide a graphite mineralization update for its Flagship Aukam Graphite Project in Namibia, Africa.
Gratomic Inc. is currently mobilizing all three of its
Two phases of diamond drilling will be executed. The first of which will involve tightly spaced infill drilling in ML215 (Figure 1), targeting areas below and along visible strike from the main underground workings within, and around, the graphite bearing shear zone. Delineation drilling in EPL3895 & EPL6710 of known structures and new targets optimized by geophysical surveys will also be tested. Strategic planning of the drilling program is expected to assist with calculating a NI 43-101 mineral resource at Aukam in support of the completion of a Preliminary Economic Assessment (PEA).
Figure 1: Gratomic Inc. Mining and Exploration Licenses
2020 Diamond Drilling
Diamond drilling executed on Mining License ML215 will first test the strongest EM conductor C1 on Grid 1 (Fig 2 & 3). Drill holes will initially be spaced 40 metres apart testing each of the five conductors delineating the extent of the graphite mineralization proximal to past mining activities. Two holes per drill set up will initially be completed targeting 20 metres below the overburden, with the second hole drilled steeper to intersect 40 metres below the first hole. Subsequent infill drilling, based on delineation results, are to be drilled on 20 metre centres between the 40 metre spaced holes both along strike and at depth (down dip).
Drilling planned in Grid 2 - EPL6710 will concentrate on conductors C1a & C1b (Fig 2 & 4) with delineation drilling spaced initially at 40 metre centres.
Figure 2: Geophysical Survey & 2020 Diamond Drill Areas
Figure 3: Grid 1 Geophysical Survey & Drilling Areas
HLEM response: Conductors C1 to C5 interpreted as graphitic mineralization with C1 the strongest EM anomaly.
Figure 4: Grid 2 Geophysical Survey & Drilling Areas
Analytical Signal (AS) response: C1 interpreted as graphitic mineralization.
Arno Brand, President and CEO of Gratomic Inc, states "Now that travel restrictions due to Covid-19 have softened enough to allow our Geologic Team to make their way to site, planned drilling, specifically infill drilling, will allow us to quickly outline areas at Aukam which we plan to bulk sample. Upon completion of our Graphite Processing Plant during Q4-2020 we expect to process both current stockpiles and the intended bulk sample material in Q1-2021."
Steve Gray, P. Geo. and a Director of the Company has reviewed and approved the scientific and technical information in this press release and is the Company's "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Gratomic Inc.
Established in 2014, Gratomic is an advanced materials company focused on mine to market commercialization of carbon-neutral, high purity vein graphite. The Company is focused on producing low-cost, eco-friendly graphite and is set to become a key player in EV and Renewable Resource supply chains. Gratomic Inc. is a leader among its peers, promising to deliver mine-to-market traceability and guaranteed quality control. This will be accomplished by providing documented tracking of the nearly negligible carbon footprint on all graphite generated at its flagship Aukam Graphite Project. The tracking will begin at Aukam and will be verified at every stage during transport.
Two off-take purchase agreements are currently held for lump-vein graphite sourced from Gratomic's Aukam Graphite Project in Namibia, Africa. Fulfillment of the contracts is slated to begin in late 2020. The agreements exist with TODAQ and Phu Sumika.
TODAQ is an innovative tech company and will partner with Gratomic on its mine-to-market commodity tracking.
Phu Sumika is a large global graphite supplier to battery and lubrication companies.
The Company anticipates full operational capabilities in late 2020 and aims to transition to an open pit mine as early as 2021.
Gratomic Inc. is listed on the TSX Venture Exchange under the symbol GRAT.
For more information: visit the website at www.gratomic.ca or contact:
Arno Brand at abrand@gratomic.ca or 416 561-4095
"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."
FORWARD LOOKING STATEMENTS:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on
assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
SOURCE: Gratomic Inc.
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FAQ
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