GRATOMIC ANNOUNCES COMPLETION OF NI43-101 FOR 100% OWNED BUCKINGHAM PROJECT
Tuesday, December 22, 2020
TORONTO, ON / December 22, 2020 / Gratomic Inc. (“GRAT” or the “Company”) (TSXV:GRAT)(FRANKFURT:CB81) (WKN:A143MR) (OTCQB: CBULF) is pleased to announce the completion of a National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI43-101”) technical report dated December 9, 2020 with an effective date of March 16, 2018 and entitled “Technical Report Buckingham Graphite Project Québec Canada” (the “Technical Report”) in respect of its 100% owned Buckingham graphite project in Quebec (the “Buckingham Project”). The Technical Report was co-authored by Roger Moss, Ph.D., P.Geo. and Isabelle Robillard, M.SC., P.Geo. The Technical Report provides a summary of work carried out on the Buckingham project between 2013 and 2018 and recommends a follow up exploration program for the property. A copy of the Technical Report is available on the Company’s SEDAR issuer profile at www.sedar.com.
The Buckingham Project is primarily underlain by paragneiss and marble of the Central Metasedimentary Belt of the Grenville Province. Two zones of graphite mineralization, the Case Zone and the Uncle Zone were identified during work between 2013 and 2016. The Case Zone is comprised mainly of quartzo-feldspathic paragneiss intercalated with quartzite and marble and contains mostly flake type graphite. The geology underlying the Uncle Zone is comprised primarily of undifferentiated skarns, marble and pegmatite, and contains lump or vein style graphite mineralization.
Work mainly focussed on the Case Zone after preliminary investigations of the Uncle Zone. An airborne TDEM survey carried out during 2016 showed seven anomalies, including a 1.5km long conductor that extended the potential of the Case Zone to the South. Drilling and trenching programs between 2016 and 2018 tested the EM conductor over approximately 700 metres along strike and to vertical depths of up to 111 metres. Significant mineralized intercepts were returned from the entire length of the drill-tested EM conductor. From the NE to the SW, best intersections include 8.87% Cg over 47 m (ddh CK17-04), 4.94% Cg over 66 m (ddh CK18-09), 6.06% Cg over 88 m (ddh CK17-02), 6.88% Cg over 62 m (ddh CK18-07), 3.52% Cg over 53 m (ddh CK17-01) 5.86% Cg over 17 m (ddh CK17-08) and 5.68% Cg over 40 m (ddh CK17-05). These intersections do not represent true widths as more structural data is needed for their calculation (see news releases dated September 28, 2017 and April 3, 2018).
Graphite mineralization is associated with paragneiss and marble, with the highest grades typically hosted by marble. In addition to the surface mineralization seen in outcrop and in trenches, up to three discrete zones of graphite mineralization were intersected in the drilling, although most of the graphite was encountered at vertical depths less than 64 metres.
Recommended follow up work includes a Phase 1 program of mapping and trenching to extend the mineralization along strike to the south of the previous work along the EM conductor and metallurgical testing of a bulk sample from the Case Zone. Dependent on results of Phase 1, a follow up infill drilling program in the northern part of the property with step outs to the south is recommended to outline an initial graphite resource.
Roger Moss, PhD., P.Geo., a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, and a co-author of the Technical Report, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.
“This project fits really well into our Corporate Strategy and the results are astonishing. This project is one of the most promising I have personally experienced out of Canada. We will continue to develop all the Company’s assets as we bring Aukam into the commissioning phase and give shareholders reassurance that the Company has the intention to expand its presence as a going concern in the graphite industry,” stated Arno Brand, President & CEO
“These results show how careful Gratomic has always been in choosing its assets, in which it invests, and this will reflect the long-term value of our Company. The results rival the best Canadian graphite assets I have ever known,” commented Armando Farhate, COO & Head of Graphite Marketing and Sales for Gratomic Inc.
About Gratomic Inc.
Established in 2014, Gratomic is an advanced materials company focused on low-cost mine to market commercialization of carbon-neutral, Eco-friendly, high purity vein graphite and is set to become a key player in EV and Renewable Resource supply chains. Gratomic Inc. is a leader among peers, anticipating full operational capabilities in late 2020 and aiming to transition to an open pit operation as early as the end of 2021.
Gratomic is in the process of solidifying its development plans for micronization and spheronization of its clean Aukam graphite. This significant milestone is a small, additional step in the Company’s existing Eco-friendly processing cycle and will allow its naturally high purity graphite to meet ideal North American battery grade standards for use in Li-ion battery anodes.
The Company promises to deliver mine-to-market traceability and guaranteed quality control. This will be accomplished by providing documented tracking on all graphite generated at its flagship Aukam Graphite Project. The tracking will begin at Aukam and will be verified at every stage during transport.
Two off-take purchase agreements are currently held for lump-vein graphite sourced from Gratomic’s Aukam Graphite Project in Namibia, Africa. Fulfillment of the contracts is slated to begin in 2021. The agreements exist with TODAQ and Phu Sumika.
TODAQ is an innovative tech company and will partner with Gratomic on its mine-to-market commodity tracking.
Phu Sumika is a large global graphite supplier to battery and lubrication companies.
Gratomic Inc. is listed on the TSX Venture Exchange under the symbol GRAT.
For more information: visit the website at www.gratomic.ca or contact:
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Forward Looking Statements:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com