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Graphano Energy Ltd
Symbol GEL
Shares Issued 16,838,268
Close 2022-06-09 C$ 0.34
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Graphano drills nine m of 6.12% Cg at Lac Aux Bouleaux

2022-06-09 09:07 ET - News Release

Ms. Luisa Moreno reports

GRAPHANO INTERSECTS 6.12% GRAPHITE OVER 9 METRES AT 100% OWNED LAB GRAPHITE PROJECT

Graphano Energy Ltd. has released results from zone 1 on its 100-per-cent-owned Lac Aux Bouleaux graphite property (LAB) in Quebec. The LAB property is located contiguous to the Lac-del-Iles graphite mine and covers the immediate southern extension of the productive graphite horizons. Fourteen drill holes totalling 1,275 metres were completed on the zone 1 target. Highlights are provided below.

Highlights:

  • Drill hole LB22-18 intersected 6 per cent graphitic carbon (Cg) over six metres at 65 metres (m) drilled depth;
  • Drill hole LB22-21 intersected 4.58 per cent Cg over 9.8 m at 95.2 m drilled depth;
  • Drill hole LB22-22 intersected 7.04 per cent Cg over 5.8 m at 102.2 m drilled depth;
  • Drill hole LB22-23 intersected three zones as follows:
    • Top zone of 4.17 per cent Cg over three m at 14 m;
    • Middle zone of 5.82 per cent Cg over five m at 36 m;
    • Lower zone of 3.97 per cent Cg over two m at 86 m.
  • Drill hole LB22-24 intersected three zones as follows:
    • Top zone of 6.12 per cent Cg over nine m at 43.5 m;
    • Middle zone of 4.81 per cent Cg over two m at 84 m;
    • Lower zone of 6.09 per cent Cg over six m at 90 m.
  • Drill hole LB22-26 intersected minimum of 5.29 per cent Cg over nine m at 23.9 m drilled depth, including 7.51 per cent Cg over five m.

(Note: All intersections reported are based on drilled width. True width will be defined with additional drilling.)

Luisa Moreno, chief executive officer of the company, stated: "We are very encouraged with the drill results from zone 1 and previously released results from zone 4 to the southwest. They are consistent with Lac-del-Iles grades which is the only producing graphite mine in North America. Additional work will continue on the property and we are confident in proving up graphite resources, positioning Graphano as a potential near-term producer."

The zone 1 target was initially explored through ground geophysical surveys, trenching and sampling. Fall 2021 trenching results returned high-grade surface mineralization, such as 7.9 per cent Cg over 9.5 metres, and outlined zone 1 as a priority resource target. Zone 1 is located approximately one kilometre south of the Lac-del-Iles property boundary with LAB, along a distinct airborne conductive trend which corresponds to the graphite-bearing horizons.

The drill holes completed on zone 1 intersected multiple zones of higher-grade mineralization ranging from one to nine metres in thickness (core length) within a 75 m wide sequence and 600 m length thus far. The mineralized zone has been tested from surface to maximum vertical depth of approximately 75 m and remains open in all directions. The zone 1 mineralized trend has a total length exceeding 1.5 km as indicated by the airborne electromagnetic survey.

The graphite mineralization observed during drilling is hosted within a sequence of paragneiss and recrystallized limestone units. All drill core samples were bagged and tagged using best practices and were delivered to Activation Laboratories (Actlabs), 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). 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 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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