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Focus Graphite Inc.
Summary
| Project: | Lac Knife | |
|---|---|---|
| Deposit: | Lac Knife | |
| Location: | Canada | |
| Commodities: | Graphite | |
| Date: | 1/24/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine Development | |
| Report details: | 24-1-2017: Focus Graphite Inc. announces a Resource Estimation report for its Lac Knife deposit at the Lac Knife project. Lac Knife M+I Resources increase by 26% . Focus Graphite Inc. (FMS: TSX-V; OTCQX: FCSMF; FSE: FKC) (“Focus” or the “Company”) is plea | |
| Resources: | (Resource, M+I):12.101Mt @ 14.64% Cg (3.0% cut-off) | |
| CP/QP: | [Resources]: Pierre Desautels (AGP Mining Consultants Inc.) | |
| ABSTRACT: | Focus Graphite Inc. (FMS: TSX-V; OTCQX: FCSMF; FSE: FKC) (“Focus” or the “Company”) is pleased to announce an updated Mineral Resource Estimate for its 100%-owned Lac Knife flake graphite project, located 27 km south of Fermont, in the Côte-Nord administrative region of northeastern Québec. The updated Mineral Resource Estimate is based on 231 drill holes totalling 22,505 metres of historic and recent drilling and has been prepared by AGP Mining Consultants Inc. in accordance with Canadian Securities Administrators’ National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (NI 43-101). At the 3% Cg cut-off grade, Measured and Indicated Mineral Resources are now estimated at 12.1 million tonnes grading 14.64% Cg (Table 1). Additionally, there are 2.3 million tonnes of Inferred resources at 16.20 % Cg (Tables 1 and 2). Focus Graphite President and CEO Gary Economo stated: “This second increase in Measured and Indicated resources since 2014 continues to reflect the quality our Lac Knife flake graphite deposit and is another positive step supporting the development of the Lac Knife project.” The update to the Mineral Resource Estimate is based on the addition of the 2014 exploration and definition drilling programs that added 65 new drill holes of which 41 targeted the Lac Knife deposit’s southern extension. The additional 4,871 metres of drilling successfully achieved the objectives of delineating the expansion of the mineralized zones to the south and to upgrade the quality of existing Inferred resources to the Indicated category. This resource update is now supported by a total of 231 drill holes totalling 22,505 metres of historic and recent drilling. As shown in Table 2 below, the resource tonnage increased by 26% in the Measured and Indicated category from 9.6 million tonnes grading 14.77% Cg in the Lac Knife project Feasibility Study2 (“FEAS”) to 12.1 million tonnes grading 14.64% Cg in this new update. This translated to an increase of 25% of in-situ graphite from 1.414 million tonnes to 1.771 million tonnes. | |
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