CKR Acquires 63% of Aukam Graphite Project
Toronto, Ontario--(Newsfile Corp. - August 1, 2017) - CKR Carbon Corporation. (TSXV: CKR) (FSE: CB81) ("CKR" or the "Company") a graphite development company, is pleased to announce the acquisition of a further 11% interest in Exclusive Prospecting License 3895 which covers the Aukam vein graphite deposit in Southern Namibia. The Company now holds a 63% interest in Exclusive Prospecting License 3895 (see the Press Release dated January 17, 2017 for further particulars).
The 63% interest was acquired by making exploration and development expenditures totalling US$1.1 million and making cash payments to Next Graphite Inc. ("Next") of US$180,000 as called for in a binding Farm Out Agreement between Next and CKR.
Work carried out on the project by CKR since July 2015, has involved detailed and regional geological mapping, geophysical surveys, sampling and assaying of graphite veins and dump material, metallurgical test work, bulk sampling, underground drilling and environmental impact assessments.
"The acquisition of the 63% interest in Aukam is a significant milestone for the company" said Sheldon Inwentash, Executive Chairman of CKR Carbon Corporation. "We look forward to continuing to develop the project in co-operation with our joint venture partner."
About CKR Carbon Corporation
CKR Carbon Corporation is an advanced materials company focused on mine to market commercialization of graphite products most notably high value graphene based components for a range of mass market products. We are collaborating with a leading European manufacturer of graphenes to use Aukam graphite to manufacture graphene products for commercialization on an industrial scale. The company is listed on the TSX Venture Exchange under the symbol CKR.
About the Aukam Project
The Aukam property covers a past producing vein graphite deposit and associated graphite occurrences. CKR is currently undertaking technical 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.
For more information: visit the website at www.ckr-carbon.com or contact:
Roger Moss, CEO, +1 416-704-8291E-mail inquiries: rmoss@ckr-carbon.com
For graphite product enquiries:
Arno Brand, +1 416-561-4095 abrand@boswellprojects.com
"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 at www.sedar.com).