Galaxy Graphite Corp.
TSX VENTURE : GXY

September 13, 2012 09:00 ET

Galaxy Graphite Corp. Completes Phase I at Brownell LK, SK, Commences Phase II on Encouraging Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2012) - Galaxy Graphite Corp. (TSX VENTURE:GXY) (the "Company" or "Galaxy") is pleased to announce that very encouraging sample results have been received for the Phase I program on its Brownell Lake, SK gold project. After a preliminary review of those results, a second phase of field work is now underway.

The Phase I program consisted of detailed mapping and sampling (soils and outcrops), as well as ground geophysics (VLF/magnetometer). Samples were taken on a 50x50 meter grid. A preliminary review of those results is very encouraging with a substantial number of high grade samples. From 135 rock samples, 7 returned values in excess of 10 g/t Au, including one above the upper detection limit of 100 g/t Au. A total of 560 soil samples were taken, of which 20 exceeded 100 ppb Au. Of those 20, two exceeded 1000 ppb (1 g/t).

The areas investigated in this first phase included potential extensions of the previously worked Olsen Lake showing, as well as several other prospective areas of the property.

A detailed review of the results has not yet been completed, but the preliminary review indicated that they were of sufficient interest to embark immediately on a second phase of work, which will include channel sampling across the more significant zones. The purpose of this work is to determine the extents of the zones identified by the Phase I program.

The Brownell Lake property is located in the Brownell Lake Greenstone Belt, within the Glennie Domain, and lies approximately 100 km east of La Ronge, SK.

Chris M. Healey, P.Geo, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this release.

ON BEHALF OF THE BOARD

Chris M. Healey, President and CEO

We seek safe harbor.

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.

Contact Information

  • Galaxy Graphite Corp.
    (604) 921-1810
    (604) 921-1898 (FAX)