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Focus Graphite Inc.
Summary
| Project: | Lac Knife | |
|---|---|---|
| Deposit: | Lac Knife | |
| Location: | Canada | |
| Commodities: | Graphite | |
| Date: | 9/13/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 13-9-2018: Focus Graphite Inc. announces a Resource Estimation report for its Lac Knife deposit at the Lac Knife project. Updated mineral resource estimate at the project. OTTAWA, ONTARIO--(Marketwired - March 9, 2017) - Focus Graphite Inc. (TSX VENTURE:F | |
| Resources: | (Resource, M+I): 13.56Mt @ 14.94% Cg for 2Mt graphite contained | |
| CP/QP: | [Resources]: Pierre Desautels (AGP Mining Consultants Inc.) | |
| ABSTRACT: | OTTAWA, ONTARIO--(Marketwired - March 9, 2017) - Focus Graphite Inc. (TSX VENTURE:FMS) (OTCQX:FCSMF) (FRANKFURT:FKC) ("Focus" or the "Company") announces a rectification to the Measured and Indicated mineral resources statement released by the Company on January 24, 2017(1) for its 100%-owned Lac Knife flake graphite project, located 27 km south of Fermont, in the Côte-Nord administrative region of northeastern Québec. On February 5, 2017, Focus was informed by AGP Mining Consultants that a correction was applied to the classification model which affected the south portion of the resource estimate announced on January 24, 2017. The correction only affected the internal distribution of the Inferred and Indicated resources in the area covered by the latest infill drilling. The grade estimation was not affected by the change. The 2014 infill drilling program successfully upgraded Inferred resources to the Indicated and Measured categories. The upgraded resources are located to the south and outside of the open pit shell that was used for the 2014 Lac Knife project feasibility study(2) ("FEAS"). In the current FEAS mine plan, any additional tonnage located outside of the FEAS open pit shell design would only be mined and processed after the 25-year mine life. Following the adjustment made by AGP Mining Consultants, using a 3.0% graphitic carbon (Cg) cut-off, the revised Measured and Indicated resources at Lac Knife now stand at 13.56 million tonnes grading 14.95% Cg (Table 1). This represents a 42% increase in Measured and Indicated resources compared to the 9.576 million tonnes grading 14.77% Cg reported in the 2014 FEAS (Table 2). The adjustment also translates into a 43% increase in graphite tonnes, from 1.414 million tonnes to 2.027 million tonnes (Table 1). Additionally, there are 840,000 tonnes of Inferred resources grading 13.90% Cg (Table 1). | |
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