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Graphano Energy Ltd
Symbol GEL
Shares Issued 15,154,566
Close 2022-01-12 C$ 0.48
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Graphano to begin phase 1 drilling at Lac Aux Bouleaux

2022-01-13 02:47 ET - News Release

Ms. Luisa Moreno reports

GRAPHANO ANNOUNCES START OF DRILLING AT LAC AUX BOULEAUX

Graphano Energy Ltd. will start the phase 1 drilling at its 100-per-cent-owned Lac Aux Bouleaux graphite 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 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.

Prospecting work also located high-grade graphite mineralization in the Target 6 area with grab samples assaying 12.9 per cent graphitic carbon over 0.5 metre. 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 per cent graphitic carbon over 4.0 metres and 5.8 per cent graphitic carbon over 8.0 metres, which include 14.8 per cent 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 per cent graphitic carbon over 9.5 metres including 13.9 per cent over 4.5 metres, 7.5 per cent graphitic carbon over 3.5 metres and 3.9 per cent graphitic carbon over 8.0 metres with 6.8 per cent 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 Zone 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 of 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 per cent to 23.5 per cent graphitic carbon, with about 30 per cent with a grade higher than 5 per cent graphitic carbon. Each channel sample from the trenching work ranged from a minimum of 50 centimetres to a maximum of 100 centimetres long, five centimetres wide and three to five centimetres deep cut in bedrock.

The samples were bagged and tagged using best practices and were delivered to Activation Laboratories, Ancaster, Ont., for sample preparation and analyses using the laboratories' Code 4F-C graphite, analyzing graphitic carbonite (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 Martin Ethier, Geo (No. 1520), who is a member of the Order of Geologists of Quebec and the qualified person for the purpose of this news release.

Global graphite outlook

The global graphite market is expected to be worth $26.8-billion (U.S.) by 2025 from $16.4-billion (U.S.) in 2017, registering a CAGR (compound annual growth rate) of 8.5 per cent 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.

About Graphano Energy Ltd.

Graphano is an exploration and development company that is focused on evaluating, acquiring and developing energy metal 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 is developing its project to meet the demands of the future.

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