The graphite deposits occur within distinct geological layers that comprise high-grade massive to semi-massive segregated, and disseminated, large-flake graphite in sillimanite-garnet-biotite-quartz schist and biotite-quartz schist (+/-garnet) host rocks. Accordingly, the geological model and estimation is guided by nine distinct mineralized lodes, or statistically derived groupings of elevated graphite mineralization, that are shown to extend laterally for various distances along the strike of the deposit. Of these lodes, the highest in-situ graphite tonnage occurs in surface/near-surface mineralized lodes comprised of sillimanite-garnet-biotite-quartz schist.
Of the 7,204 assays in the Graphite One database, 2,831 assays were situated within the mineralized lodes. Upon completion of the compositing process (at three metre intervals), a total of 839 composites were used in the estimation process. Density values (n=2,830) were estimated for each individual block throughout the block model. Grade was estimated in 25 m (X dimension) x 25 m (Y) x 5 m (Z) parent blocks, which was sub-blocked down to 12.5 m (X) x 12.5 (Y) x 2.5 m (Z) to provide a better representation of lode volumes. Variography was used to help aid the search ellipsoid ranges used in the estimation. An incremental search ellipsoid ranging from 50 m x 25 m x 20 m to 1,500 m x 500 m x 500 m with the orientation tailored to each lode was used for the inverse distance squared interpolation process.
About Graphite One Resources' QA/QC Program
Graphite One Resources Inc. (the "Company") maintains a rigorous quality assurance/quality control ("QA/QC") program with respect to the preparation, shipping, analysis and checking of all samples and data from the properties. Quality control for drill programs at the Company's projects covers the complete chain of custody of samples, including verification of drill hole locations (collar surveys and down-hole directional surveys), core handling procedures (logging, sampling, sample shipping) and analytical-related work, including duplicate sampling, "check analyses" at other laboratories and the insertion of standard and blank materials. The QA/QC program also includes data verification procedures.
Sample preparation and primary analysis for the Graphite Creek project is done at Actlabs. Actlabs uses standard quality assurance and control policies in all aspects of laboratory operations. The programs were developed from guidelines published by the International Standards Organization ("ISO") commonly referred to as ISO\IEC17025 Guidelines. Actlabs uses 5 different masses of EDTA as well as 99.9% pure graphite as internal quality control. These are used at a 10% frequency. Actlabs also uses a 10% sample duplicate frequency.
All samples are assayed for Cg. The technique used for determining Cg is by LECO whereby the pulp is either digested with hydrochloric and perchloric acids, or subjected to a multistage furnace treatment to remove all forms of carbon with the exception of Cg.
As part of the comprehensive QA/QC program, one blank was inserted into the assay stream for every 10 core samples submitted. Blanks were inserted directly after highly mineralized samples to test for contamination during the preparation. Three separate blank materials have been used and a suitable consistent material was utilized in 2014. Duplicate samples include 1/4 drill core splits and were submitted as two separate samples with consecutive sample numbers. One duplicate sample was inserted for every 20 samples. Four commercially available graphite standards were utilized in the sample stream with one inserted for each 10 core samples by Graphite One staff. These standards are an additional check on the internal standards utilized by Actlabs who provides analytical services for the core samples.
Drill hole sample rejects are routinely sent to ISO/IEC 17025 accredited SGS Lakefield and/or ACME Analytical Laboratories Ltd. for check analyses.
Quality control is carried out by Graphite One employees under the supervision of the Company's General Manager Operations, David Hembree, C.P.Geol. Mr. Hembree is a qualified person as described by NI 43-101.
About Graphite One Resources Inc.
Graphite One Resources Inc. (
ON BEHALF OF THE BOARD OF DIRECTORS
"Anthony Huston" (signed)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts that address timing of receipt of regulatory approvals, exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. Forward-looking information in this news release includes statements about inferred resource estimate for the Graphite Creek Project, the potential existence and size of mineralization within the Graphite Creek Project; estimated timing and amount of future expenditures, recommendations for future work on the Graphite Creek Project, the preparation of a Preliminary Economic Assessment for the Graphite Creek Project, geological interpretations and statements about Graphite One's strategy, future operations and prospects. Information concerning inferred mineral resource estimates also may be deemed to be forward-looking information in that it reflects a prediction of the mineralization that would be encountered if a mineral deposit were developed and mined. Information concerning inferred mineral resources estimates also may be deemed to be forward-looking information in that it reflects a prediction of the mineralization that would be encountered if a mineral deposit were developed and mined. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements.
Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date that is expressed in this news release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, except as required by applicable securities laws. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.
The mineral resource estimates reported in this news release were prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), as required by Canadian securities regulatory authorities. For United States reporting purposes, the United States Securities and Exchange Commission ("SEC") applies different standards in the classification of mineralization. In particular, while the terms "measured," "indicated" and "inferred" mineral resources are required pursuant to NI 43-101, the SEC does not recognize such terms. Canadian standards differ significantly from the requirements of the SEC. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories constitute or will ever be converted into reserves. In addition, "inferred" mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, issuers must not make any disclosure of results of an economic analysis that includes inferred mineral resources, except in rare cases.
