Graphano Energy
Provides Drilling Update on LAB Graphite Project
Vancouver, British
Columbia, March 10, 2022 - Graphano Energy Ltd. (TSXV: GEL, OTCQB: GELEF, FSE: 97G0) (the "Company"
or "Graphano
Energy") is
pleased to announce that phase-one drilling activity is ongoing on
its 100% owned Lac Aux Bouleaux
(LAB) Graphite Property
in Quebec. Drilling contractor Forage Hébert
Inc. of Amos, Quebec, was awarded the contract for the drill
program.
Figure 1 - Drill
Rig
Seven drill holes for a
total of 931.8 metres have been drilled to date out of the planned
20 hole, 2,800 metre drill program (NQ size core). The program
has, thus far, focused on "Zone 4",
where 2021 surface trenching and sampling programs identified
significant grades and widths of graphite mineralization
(see
Graphano News Release dated January 13, 2022).
As previously disclosed
on January 13, 2022, channel sample result highlights
were:
-
Channel sample results
from Zone 1 include 7.9% Cg over 9.5 metres including 13.9% over
4.5 metres
-
Channel sample results
from Zone 4 include 18.0% Cg over 4.0 metres and 5.8% Cg over 8.0
metres which includes 14.8% over 3.0 metres
A drill hole summary from phase-one
drilling is shown in the below table:
Drill
Hole ID
|
Northing
|
Easting
|
Azimuth
(magnetic)
|
Dip
|
Depth
(m)
|
LB22-01
|
5133718
|
457324
|
126
|
-42
|
150
|
LB22-02
|
5133751
|
457279
|
312
|
-43
|
150
|
LB22-03
|
5133683
|
457275
|
125
|
-42
|
150
|
LB22-04
|
5133826
|
457332
|
133
|
-42
|
31
|
LB22-05
|
5133826
|
457332
|
133
|
-42
|
151.8
|
LB22-06
|
5133826
|
457331
|
125
|
-65
|
135
|
LB22-07
|
5133642
|
457272
|
325
|
-42
|
164
|
LB22-08
|
5133847
|
457299
|
323
|
-42
|
on going
|
Most of the holes
intercepted varying amounts of graphite mineralization from
paragneiss and recrystallized limestone units. Assay results from
the drill program will be released on a timely basis once results
have been received from the laboratory. A total of 569 samples were
bagged and tagged using best practices and were delivered to
Activation Laboratories ("ACTLABS"),
Ancaster, Ontario, for sample preparation and analyses using
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.
Luisa Moreno, Chief
Executive Officer of the Company, stated: "Notwithstanding some
slowdowns due to COVID-19 and weather-related issues that has
affected the drilling program, we are pleased to see positive
early-stage drilling results. We will be drilling another 13 holes
and focusing on areas that show high grade
mineralization. The idea is to define a resource
and we believe that the close proximity to an existing processing
plant gives us a strong logistic advantage. Graphite demand
continues to be high in view of the current EV revolution taking
place and we aim to contribute to the supply chain."
Qualified
Person
The technical content
disclosed in this press release was reviewed and approved by Mr.
Martin Ethier, Géo (#1520), who is a Member of the Order of
Geologists of Québec and a "Qualified Person" as defined in
National Instrument NI 43-101, and Afzaal Pirzada, who is a member
of the Association of Professional Engineers and Geoscientists of
British Columbia with license No. 28657.
About
Graphano Energy
Graphano Energy Ltd. is
an exploration and development company 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 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, we are
developing our project to meet the demands of the
future.
Luisa Moreno
Chief Executive Officer
and Director
E:
info@graphano.com
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.
Cautionary Note Regarding Forward-Looking Statements:
This
news release contains certain "forward-looking information" and
"forward-looking statements" (collectively "forward-looking
statements") within the meaning of applicable securities
legislation. All statements, other than statements of historical
fact, included herein, without limitation, relating to future
operations - exploration, drilling and other activities of Graphano
Energy - are forward-looking statements. Forward-looking statements
are frequently, but not always, identified by words such as
"expects", "anticipates", "believes", "intends", "estimates",
"potential", "possible", and similar expressions, or statements
that events, conditions, or results "will", "may", "could", or"
should" occur or be achieved. Forward-looking statements in this
news release relate to, among other things, the Company's
exploration plans and the impact thereof. There can be no assurance
that such statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in
such statements. Forward-looking statements reflect the beliefs,
opinions and projections on the date the statements are made and
are based upon a number of assumptions and estimates that, while
considered reasonable by Graphano Energy, are inherently subject to
significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors, both known and
unknown, could cause actual results, performance or achievements to
be materially different from the results, performance or
achievements that are or may be expressed or implied by such
forward-looking statements and the parties have made assumptions
and estimates based on or related to many of these factors. Such
factors include, without limitation, the ability to complete
proposed exploration work given the global COVID-19 pandemic, the
results of exploration, continued availability of capital, and
changes in general economic, market and business conditions.
Readers should not place undue reliance on the forward-looking
statements and information contained in this news release
concerning these items. Graphano Energy does not assume any
obligation to update the forward-looking statements of beliefs,
opinions, projections, or other factors, should they change, except
as required by applicable securities laws.
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