VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 21, 2012) - Standard Graphite Corp. (TSX VENTURE:SGH) (the "Company") is pleased to report the initial results from the validation portion of the summer 2012 diamond drilling program on its Mousseau East Deposit. The results are currently being integrated in the database to allow comparison with their historical equivalents.
Highlight Intervals Include:
||52.9m of 7.5% Cg
||22.9m of 12.9% Cg
||18.9m of 9.7% Cg
||29.9m of 8.3% Cg
||24.6m of 10.6% Cg
||15.5m of 11.2% Cg
||15.3m of 11.6% Cg
It is of significance to note that M12-01 was emplaced between the main zone and the SW extension confirming the continuity between the two zones. The historical resource did not include this portion of the mineralization and the SW extension. M12-03, -06 and -07 are located along the eastern edge of the main zone indicating that the mineralization is open both east and southward.
The holes selected for duplication represented the various geological environments present at Mousseau East ranging from the higher grade sections within the main zone to the satellite or marginal portions present outside. The primary objective of this program was to reproduce the historical results to confirm the accuracy both in the location of the previous holes and in the assaying. Logging of the core corroborated the geological setting where the graphite occurs for a large part at the interface between the quartzofeldspathic gneisses and the calcsilicate/marble units on the northeastern flank. The validation phase is essential to allow the use of the historical data for the calculation of a resource under the current NI43-101 norm.
MRB & Associates is now integrating the results in the database to allow the direct comparison with the historical diamond drill holes and to validate the results according to the strict internal QA/QC protocol. The weighted averages for intervals "or composite samples" were calculated from the preliminary results and these are presented in the table below.
|* Measured intercept along core axis not necessarily representative of true width.
** No significant result
During the validation phase of the program, some 12 historical holes were duplicated representing approximately 20% of the original diamond-drill holes that served to calculate the historical resource. The confirmation drilling was planned in consultation with P&E Mining Consultants who will be responsible for the upcoming NI-43-101 Resource Estimate. Sampling including the addition standardized reference material and blanks was carried out at MRB's coreshack in Val-d'Or and samples were shipped to Act Labs of Ancaster, Ontario for graphitic carbon assaying. Drilling, logging and sampling are carried out under the supervision of MRB & Associates of Val-d'Or, Québec who is also responsible for the sampling protocol.
The Mousseau East Property was acquired by Standard Graphite in April of 2012 (see press release April 24, 2012) and is located some 40 kilometres northeast of the town of Mont-Laurier in northwestern Québec and within 50 kilometres of Timcal Canada Inc.'s producing Lac-des-Îles Graphite Mine, which is currently the larger of the two producing mines in North America.
Antoine Fournier P. Geo., manages Standard's exploration and development programs and is the Qualified Person as defined by National Instrument 43-101. He supervised the preparation of the technical information in this release.
About Standard Graphite
Standard Graphite Corp is focused exclusively on the exploration and development of a large portfolio of flake graphite properties in Canada. The company is rapidly positioning itself as North America's premier pure-play graphite exploration company and it controls 100% interest in 13 highly prospective graphite properties within known graphite districts in both Quebec and Ontario. An aggressive 2012 exploration strategy has commenced and will be implemented by a geologic team with the pedigree of a previous world-class graphite discovery.
ON BEHALF OF THE BOARD
Chris Bogart, President & CEO
The foregoing information may contain forward-looking statements relating to the future performance of Standard Graphite Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Standard Graphite Corp.'s filings with the appropriate securities commissions.
Neither the 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.