Focusing on Bissett Creek Flake Graphite Deposit
Recently announced significant increase in estimated resources
Message: Northern Graphite Qualifies Bissett Creek Concentrates for Major Graphite Market
Northern Graphite Qualifies Bissett Creek Concentrates for Major Graphite Markets
OTTAWA, ONTARIO--(Marketwired - March 2, 2015) - Northern Graphite Corporation (TSX VENTURE:NGC) (OTCQX:NGPHF) announces that independent testing has confirmed that flake graphite concentrates from the Company's Bissett Creek deposit meet or exceed quality requirements for all major end markets and in particular, refractories and expandable graphite. Testing was carried out by NGS Naturgraphit GmbH ("Naturgraphit") which provides a broad range of consulting, research and development and laboratory services to graphite producers, dealers and consumers.
The analysis and evaluation carried out by Naturgraphit did not detect any limitations on potential uses for Bissett Creek flake graphite. Furthermore, Naturgraphit recommended that Northern create a +32 mesh XXL flake concentrate because this grade is always in short supply, there are few reliable sources and prices are high. XXL flake concentrates currently sell for US$2,300-2,400/tonne compared to US$2,000/tonne for XL flake (+50 mesh) concentrates and US$1,200-1,300/tonne for large flake concentrates (+80 mesh). Bissett Creek is the only deposit that has reported a high percentage of +32 mesh XXL flake (20% of production) and it also has the highest reported percentage of combined XXL/XL/large (90%).
Gregory Bowes, CEO, commented that: "There is a higher degree of variability between graphite deposits than most investors realize and it is important that potential producers provide independent and transparent verification that their graphite meets the requirements of major end markets. Testing by Naturgraphit has not only accomplished this objective but also identified a new revenue source that will enhance project economics."
Naturgraphit tested large flake and combined XL/XXL flake concentrates from Bissett Creek for moisture content, volatile matter, purity (loss on ignition), expansion volume and ash content, and performed a microscopic examination of each flake size for degree of crystallization and the presence of quartz grains and other impurities.
Microscopic investigation indicated shiny, platy and pristine graphite flakes that are almost free of discoloration and impurities. Both samples are suitable for refractory applications due to there being very little or no CaCO3 or iron sulphides, a high degree of crystallization, a high carbon content achieved by flotation alone, and little volatile matter. In addition, the melting point of the ash is higher than the majority of Chinese flake graphite and is in the range of best flake graphite from Mozambique. The absence of large quartz grains also makes the concentrate suitable for graphite foil, brake pads, lubrication products and carbon brushes in electric motors.
The expansion volume of the +80 mesh concentrate was approximately 400cm3/g which is extremely good and better than the best Chinese expandable graphite. The expansion volume of the +50 mesh concentrates was similar although testing by other potential users has achieved values up to 600cm3/g. Additional testing will be carried out to optimize retention times for each process step, the amount of oxidization and intercalation reagents and process and drying temperatures. Expandable graphite is used in thermal management for consumer electronics, fuel cells, seals and gaskets, fire retardants, flow batteries and many other products.
Naturgraphit also concluded that achieving high purity levels should be possible with a simple, inexpensive process due to the absence of large quartz grains, and that the very low content of heavy metals makes the material suitable for the battery market. Northern has already developed a proprietary purification technology as an alternative to the environmentally damaging wet chemical approach used in China and the expensive thermal method, and independently verified the suitability of concentrates for use in Li ion batteries. This press release was reviewed by Hubert Meisner of Naturgraphit, a highly regarded expert in the graphite industry.
About Northern Graphite Corporation
Northern Graphite is a graphite development and battery technology company whose 100% owned Bissett Creek project is located in eastern Canada. Bissett Creek provides the Company with a natural competitive advantage in the battery technology field as it has the highest percentage of battery grade material, the highest reported yield on conversion to anode material for batteries, and a pristine, highly ordered crystal structure that has the potential to improve battery performance. The Company is leveraging these advantages with proprietary coating and purification technologies to make better and lower cost anode materials and to replace the damaging environmental practices currently used in their manufacture.
Bissett Creek is the most advanced new graphite project with a bankable Feasibility Study and its major environmental permit. The Company believes that it has the best location/infrastructure, the lowest capital cost and the highest operating margin of any new graphite project. Because of Chinese supply problems and the continued rapid growth in new uses such as lithium ion batteries, new western sources of supply are needed, particularly for large/XL /XXL flake graphite.
This press release contains forward-looking statements, which can be identified by the use of statements that include words such as "could", "potential", "believe", "expect", "anticipate", "intend", "plan", "likely", "will" or other similar words or phrases. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. The Company does not intend, and does not assume any obligation, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.
Neither 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 press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.
Northern Graphite Corporation
(613) 241-9959(613) 241-9959
Northern Graphite Corporation
(613) 241-9959(613) 241-9959
Please login to post a reply