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SRG Graphite to resume activity at Gogota project

2018-01-23 09:50 ET - News Release

See News Release (C-SRG) SRG Graphite Inc

Mr. Marc-Antoine Audet reports

SRG REPORTS ON ITS COBALT-NICKEL-SCANDIUM GOGOTA PROJECT

SRG Graphite Inc. has planned to resume activities at the cobalt-nickel-scandium project, known as the Gogota deposit, at the company's Lola project in Guinea. SRG will be resuming activities on the Gogota deposit and expects to file a National Instrument 43-101-compliant maiden mineral resource estimate in the first half of 2018.

SRG acquired the Lola project from Sama Resources in a transaction in 2016. The Gogota deposit was discovered during a regional exploration program carried out over portions of the Lola project in 2013. (See Sama Resources' press release dated March 7, 2013.)

Of the 51 vertical drill holes carried out over the Gogota deposit, 31 were drilled over a 200-metre-by-400-metre grid and 20 were drilled over a 200 m by 200 m grid. The first phase of samples from 31 drill holes, representing 800 samples, were sent for analysis and returned significant cobalt, nickel and scandium results, among others. The second phase of 20 drill holes, representing 425 samples, have been sent to the lab for analysis.

"We are very optimistic about the potential of the Gogota deposit," said Marc-Antoine Audet, president and chief executive officer, SRG. "We are looking forward to receiving the additional results and moving forward with the maiden resources."

              COMBINED MINERALIZED INTERVAL HIGHLIGHTS 
                            (true widths)
 
Hole ID        From*   Length     Co     Ni      Sc      Fe    MgO 
                 (m)       (m)    (%)    (%)   (g/t)     (%)    (%) 

GG34-800400   15.50      5.50   0.18   0.75   37.28   45.90   0.26
GG34-800800    2.00     18.20   0.19   1.43   45.06   52.19   0.38
GG34-800200    3.70     13.50   0.22   1.27   29.18   51.32   0.48
GG35-400600    4.00     20.80   0.15   1.41   29.62   53.42   0.60
GG35-400800    5.00     14.50   0.13   1.30   33.11   51.24   0.42
GG45-400200    6.00     10.00   0.13   1.19   30.00   48.02   0.33
GG44-800400    8.00      3.00   0.17   1.28   35.30   52.03   0.62
GG25-400200    4.00     14.50   0.18   1.52   31.73   53.29   0.30
GG25-400400   12.50     20.00   0.17   1.53   24.77   49.87   0.37
GG25-400600    7.00     16.00   0.16   1.36   29.88   50.14   0.76
GG25-400800    8.00     17.80   0.16   1.25   24.50   50.90   0.69
GG35-400200    1.50      6.90   0.13   1.58   40.30   44.14   2.73
GG35-400400    3.00      1.50   0.11   0.90   33.84   27.56   3.00
GG24-800800    2.10     12.00   0.24   1.16   32.63   48.08   0.49
GG24-400800   15.00      3.00   0.17   1.53   37.50   48.63   1.12
GG24-800600    6.00     23.00   0.18   1.27   39.14   51.63   0.40
GG24-800400    5.50     12.50   0.16   1.42   31.20   50.25   1.18
GG34-800600    0.00     14.10   0.17   1.39   23.95   48.09   0.61
GG44-800200    0.90      4.40   0.21   1.27   31.49   50.04   0.84
GG34-400200    4.00      2.50   0.14   1.16   30.00   42.41   0.92
GG34-400400    3.00      8.00   0.18   1.19   36.25   49.11   0.80
GG25-200400    8.50     14.00   0.21   1.45   36.43   49.57   0.45
GG25-200200    8.00      7.50   0.18   0.70   38.70   42.37   1.73
GG25-200600    2.30      7.40   0.15   0.95   38.91   41.86   0.58

* Measurements begin at surface.
Mineralized intervals defined using 0.10 per cent cobalt cut-off grades.
Fe: Iron, MgO: Magnesium oxide, g/t: grams per tonne.

Core logging and sampling were performed at SRG's facility in Gogota village. Sample preparations were performed by Bureau Veritas Mineral Laboratory's facility in Abidjan, Ivory Coast, and then dispatched by BVML directly to its assay laboratory, Inspectorate Metals and Minerals, in Rustenburg, South Africa. All samples were assayed for cobalt, nickel and all major oxides using peroxide fusion XRF (X-ray frequency). Scandium was determined by inductively coupled plasma optical-emission spectrometry.

Compilation maps of Gogota are available on the company's website.

The technical information in this release has been reviewed and approved by Dr. Audet, PGeo, president and chief executive officer, and a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About SRG Graphite Inc.

SRG is a Canadian-based company focused on developing the Lola graphite deposit located in the Republic of Guinea, West Africa. SRG is committed to operating in a socially, environmentally and ethically responsible manner.

We seek Safe Harbor.

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