VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 20, 2016) - CKR Carbon Corporation. ("CKR" or the "Company") (TSX VENTURE:CKR) (FRANKFURT:CB8) is pleased to announce completion of a NI43-101 technical report for the Aukam graphite project in southern Namibia and the granting of permission to use explosives for underground exploration at the project.
CKR has received permission to use explosives at Aukam. The explosives will be used to complete the process of making the adits safe by blasting large blocks of rock that were unable to be barred down in the initial phase (see News Release dated August 16, 2016). Blasting is expected to start in early October, initially with the remaining bad hangings in the adits, followed by clearing the winze area at the back of the lower adit (to open access to a lower level), and finally in the open pit to ensure all loose material is removed from the stopes.
Once the adits have been made safe, CKR will proceed with an underground exploration program of drilling and development to delineate resources down dip of the lower adit. These resources will be included, together with the results of an Environmental Impact Assessment (EIA), in the application for the mining license.
"We are very pleased with the progress made at Aukam to date and receiving a mining permit is the next step towards restarting production at the past producing mine" said Roger Moss, CKR Chief Executive Officer. "As such, we will be focussing all our efforts on completing the necessary studies on time and on budget in order to expedite the process."
The company is also pleased to announce that it has filed a National Instrument 43-101 (NI-43-101) technical report for the Aukam Graphite Project, describing the exploration work carried out on the project to date and recommendations for future work. The main focus of the upcoming work program will be to complete the EIA, as well as the underground exploration and delineation of resources described above. The report titled "Technical Report on the Aukam Graphite Deposit, Bethanie District, Karas Region, Namibia" is available on SEDAR and on the company's website at http://www.ckr-carbon.com/index.php?page=aukam.
The technical content of this news release was approved by Roger Moss, Ph.D., P.Geo a qualified person as defined by National Instrument 43-101.
About the Aukam Project
CKR has, through a Farm Out Agreement with Next Graphite Inc. an option to acquire 63% of the Aukam graphite project by meeting certain milestones and making cash payments. It also has the option to buy an incremental 10% of Next's remaining interest in the License for a cash payment of US$185,000, subject to agreement by Next. To date, CKR has spent more than US$400,000 on the project and consequently earned a 23% interest.
The Aukam Graphite Project is located on 34,082.15 hectares in southern Namibia close to the port city of Luderitz. The property hosts three underground adits which were mined periodically between 1940 and 1974. Five dumps from the historical mining occur on the property and 73 composite samples taken from the lower three dumps were assayed and averaged 42% Cg. While these composite samples were selected from a much larger screened sample of the dumps, they are not considered representative of the mineralization on the property as a whole.
CKR recently completed a bulk sampling program at Aukam, and has a letter of intent to sell the graphitic material produced during the program. CKR is currently undertaking studies to support an application for a mining license. The company maintains high safety and environmental standards and has a comprehensive strategy of social engagement.
About CKR Carbon Corporation
CKR Carbon Corporation is focused on high quality, natural graphite suitable for use in lithium-ion batteries, graphite foil and other value-added high growth technology applications. We only select projects requiring low capital and a short time to market. The company is listed on the TSX Venture Exchange under the symbol CKR and has 33.2 million shares outstanding.
"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."
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available atwww.sedar.com).