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Graphano Energy Ltd
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Close 2022-05-18 C$ 0.37
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Graphano drills four m of 6.61% at Lac Aux Bouleaux

2022-05-19 00:29 ET - News Release

Ms. Luisa Moreno reports


Graphano Energy Ltd. has released results of its phase 1 drill program on Zone 4 on its 100-per-cent-owned Lac Aux Bouleaux graphite property in Quebec. A total of 12 drill holes were completed on Zone 4. Highlights are provided below.

Highlights (see the attached table for details)

Eastern Zone 4 target:

  • Drill hole LB22-09 intersected 4.50 per cent graphitic carbon (Cg) over 7.0 metres at 4.0-metre drilled depth including 6.61 per cent Cg over 4.0 m;
  • Drill hole LB22-10 intersected 4.13 per cent Cg over 3.0 m at 10-metre drilled depth, including 8.85 per cent Cg over 1.0 m;
  • Drill hole LB22-13 intersected 7.2 per cent Cg over 2.3 m at 28.2-metre drilled depth;
  • Drill hole LB22-14 intersected 4.69 per cent Cg over 2.0 m at 26.0 m;
  • Drill hole LB22-15 intersected two zones as follows:
    • Top zone of 8.78 per cent Cg over 0.8 m at 13.9 m;
    • Lower zone of 8.83 per cent Cg over 2.6 m at 37.65 m;
  • Drill hole LB22-01 intersected 2.46 per cent Cg over 3.0 m at 11-metre drilled depth, including 4.97 per cent Cg over 1.0 m.

Western Zone 4 target:

  • Drill hole LB22-02 intersected 3.91 per cent Cg over 1.0 m at 42-metre drilled depth.

(Note: All intersections reported are based on drilled width and have not been converted to true width.)

Zone 4 on the property is one of the seven target areas identified as a result of the 2015 airborne high-resolution heliborne magnetic (MAG) and time-domain electromagnetic (TDEM) survey completed on the LAB property. These targets were further explored through ground geophysical surveying, trenching and sampling. The majority of drill holes completed on the Eastern Zone 4 target intersected a near-surface, flat-lying mineralized horizon ranging from 2.0 metres to 7.0 metres in thickness (core length) over a 75-metre width and a 200-metre length, thus far, and remains open to the east and north as indicated by the airborne EM survey. Due to complex structural folding on the Western Zone 4 target, the geophysical conductive trend and corresponding high-grade surface showings discovered during prospecting were harder to ascertain. The company intends to carry out detailed geological mapping in the summer to better understand the area's structure and stratigraphic correlations while completing further exploration work targeting the other six target areas on the property. The graphite mineralization observed during drilling is hosted within a sequence of paragneiss and recrystallized limestone units.

Luisa Moreno, chief executive officer of the company, stated: "We are pleased to find graphite mineralization of significant grade and extent in Zone 4, which seems to be near surface and extending north and towards the east. We are optimistic that we will continue to observe increasingly thicker mineralization zones near the surface. The western part of Zone 4 does seem to exhibit complex structural geological folding, and it will require more groundwork. In the coming days, we will be releasing the results from Zone 1, as well as details about exploration work in the additional five zones and around the historical resource. We are focused on defining new graphite resources at Lac Aux Bouleaux, with the aim of demonstrating a sufficient resource to bring additional and critical graphite production to the district and support the upcoming graphite demand for the [electric vehicle] market."

All drill core 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), in which samples are 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. The core samples also include field duplicates and blanks for quality control and quality assurance (QA/QC) purposes.

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 under National Instrument 43-101, and Afzaal Pirzada, who is a member of the Association of Professional Engineers and Geoscientists of British Columbia with licence No. 28657 (OGQ licence No. 01917).

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, 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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