05:29:44 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



Graphano Energy Ltd
Symbol GEL
Shares Issued 17,088,268
Close 2024-01-19 C$ 0.11
Market Cap C$ 1,879,709
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Graphano completes winter drilling at Standard, LAB

2024-01-22 12:17 ET - News Release

Ms. Luisa Moreno reports

GRAPHANO ANNOUNCES COMPLETION OF WINTER DRILLING PROGRAM

The recent drilling program on Graphano Energy Ltd.'s 100-per-cent-owned Standard and Lac Aux Bouleaux (LAB) graphite properties in Quebec has been completed.

Luisa Moreno, chief executive officer of Graphano, commented: "We are pleased with the drilling campaign and anticipate positive results based on the assessment of the graphite mineralization that was intersected in the majority of the drill holes. We will release the assay results as they become available in the coming weeks."

The company completed 30 drill holes totalling 3,025 metres during the recent program. At the Standard mine 17 holes were drilled for a total of 1,991 metres and 13 holes were completed at LAB totalling 1,034 metres.

The company intends to develop both sites at the same time to feed a centralized beneficiation plant at LAB and is working toward a preliminary mineral resource estimation with Mercator Geological Services.

Discussing the graphite sector, Ms. Moreno commented: "The graphite market is witnessing a significant opportunity driven by increasing demand for lithium-ion batteries in electric vehicles. Tightening markets have emerged due to China's renewed incentives for domestic electric vehicle sales and concerns have escalated as China has imposed controls on specific graphite exports crucial for battery production. Additionally, the U.S. government's guidance that it will limit Chinese content in batteries eligible for electric vehicle tax credits contributes to the evolving landscape and further potential opportunities for North American graphite suppliers."

About Graphano Energy Ltd.

Graphano Energy 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, situated adjacent to Canada's only producing graphite mine, 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, the company is developing its project to meet the demands of the future.

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