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Graphano Energy Ltd
Symbol GEL
Shares Issued 16,838,268
Close 2022-03-09 C$ 0.39
Recent Sedar Documents

Graphano drills 931.8 to date in phase 1 LAB program

2022-03-10 10:13 ET - News Release

Ms. Luisa Moreno reports

GRAPHANO ENERGY PROVIDES DRILLING UPDATE ON LAB GRAPHITE PROJECT

Graphano Energy Ltd.'s phase 1 drilling activity is continuing on its 100-per-cent-owned Lac Aux Bouleaux (LAB) graphite property in Quebec. Drilling contractor Forage Hebert Inc. of Amos, Que., was awarded the contract for the drill program.

Seven drill holes for a total of 931.8 metres have been drilled to date out of the planned 20-hole, 2,800-metre drill program (NQ size core). The program has, thus far, focused on Zone 4, where 2021 surface trenching and sampling programs identified significant grades and widths of graphite mineralization (see Graphano news release dated Jan. 13, 2022).

As previously disclosed on Jan. 13, 2022, channel sample result highlights were:

  • Channel sample results from Zone 1 include 7.9 per cent Cg (carbon graphite) over 9.5 metres, including 13.9 per cent over 4.5 metres;
  • Channel sample results from Zone 4 include 18 per cent Cg over four metres and 5.8 per cent Cg over eight metres, which includes 14.8 per cent over three metres.

Most of the holes intercepted varying amounts of graphite mineralization from paragneiss and recrystallized limestone units. Assay results from the drill program will be released on a timely basis once results have been received from the laboratory. A total of 569 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 graphitic, analyzing C-graphite (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). Activation Laboratories is an independent commercial, accredited ISO (International Organization for Standardization) certified laboratory.

Luisa Moreno, chief executive officer of the company, stated: "Notwithstanding some slowdowns due to COVID-19 and weather-related issues that has affected the drilling program, we are pleased to see positive early-stage drilling results. We will be drilling another 13 holes and focusing on areas that show high-grade mineralization. The idea is to define a resource and we believe that the close proximity to an existing processing plant gives us a strong logistic advantage. Graphite demand continues to be high in view of the current EV revolution taking place and we aim to contribute to the supply chain."

Qualified person

The technical content disclosed in this press release was reviewed and approved by Martin Ethier, Geo (No. 1520), who is a member of the Order of Geologists of Quebec and a qualified person as defined in National Instrument 43-101, and Afzaal Pirzada, who is a member of the Association of Professional Engineers and Geoscientists of British Columbia with license No. 28657.

About Graphano Energy Ltd.

Graphano Energy is an exploration and development company 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 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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