Northern Graphite Clarifies Disclosure on South Okak Exploration Results
Ottawa, Ontario--(Newsfile Corp. - April 5, 2022) - Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (FSE: 0NG) (XSTU: ONG) (the "Company" or "Northern"), at the request of IIROC, is re-issuing exploration results from its Press Release of April 4, 2022 to provide additional information on QA/QC, the analytical laboratory and analytical techniques and the Qualified Person and contact person. The results of the program are unchanged.
A majority of the samples were taken from numerous gossans located on structures which cross-cut the main NW trending suture that traverses through the area and also hosts the Voisey's Bay deposits. Some of these gossans are over 2km in length and represent multiple exploration targets. One sample returned 1.1% Cu, 0.85% Ni and 0.13% Co and another 1.1% Cu, 0.43% Ni and .085% Co. As per the table below, a number of samples also exceeded 1.0% Ni equivalent. These are significant values given they were collected from highly weathered gossanous material.
South Okak Property
Selected 2021 Field Sampling Program Assay Results
| Sample | Copper | Nickel | Cobalt | NiEq* |
| 123749 | 1.050% | 0.848% | 0.130% | 1.54% |
| 123732 | 0.313% | 0.971% | 0.172% | 1.51% |
| 123748 | 0.603% | 0.890% | 0.134% | 1.44% |
| 123552 | 0.899% | 0.738% | 0.129% | 1.38% |
| 123563 | 0.243% | 0.918% | 0.147% | 1.37% |
| 123698 | 0.904% | 0.559% | 0.108% | 1.15% |
| 123690 | 0.535% | 0.638% | 0.124% | 1.14% |
| 123701 | 0.479% | 0.609% | 0.141% | 1.13% |
| 123741 | 1.060% | 0.430% | 0.085% | 1.01% |
| 123739 | 0.858% | 0.465% | 0.092% | 1.00% |
| 123643 | 0.313% | 0.524% | 0.114% | 0.92% |
| 123704 | 0.284% | 0.526% | 0.113% | 0.91% |
| 123571 | 0.345% | 0.499% | 0.088% | 0.84% |
| 123604 | 0.428% | 0.378% | 0.109% | 0.80% |
| 123639 | 0.355% | 0.381% | 0.110% | 0.78% |
| 123603 | 0.427% | 0.351% | 0.102% | 0.76% |
| 123637 | 0.497% | 0.319% | 0.098% | 0.74% |
| 123745 | 0.553% | 0.343% | 0.070% | 0.71% |
| 123665 | 0.466% | 0.379% | 0.065% | 0.71% |
*Based on a price of US$10/lb for Ni, US$3.50/lb for Cu and US$25/lb for Co.
For a complete table of sample results click here
Rocks samples were collected in a careful and diligent manner. Samples were tagged and sealed prior to being shipped by Contract personnel to Actlabs in Ancaster, Ontario, which is an independent and accredited full-service commercial laboratory accredited to ISO 9001:2015. The samples were analyzed using the 1C-Exp, 1F2 and Code 8 (Ni, Cu, Co) packages.
About Northern Graphite
Northern Graphite is a Canadian company, listed on the TSX Venture Exchange that is focussed on becoming a world leader in producing natural graphite and upgrading it into high value products critical to the green economy including anode material for LiBs/EVs, fuel cells and graphene, as well as advanced industrial technologies.
Completion of the Imerys Transaction will result in Northern becoming the only North American and the world's third largest non-Chinese graphite producing company with 50,000 tpy of capacity. In addition, Okanjande and the Company's existing Bissett Creek project are two large scale development projects that have the combined potential to produce over 200,000 tpy of high quality flake graphite. Both are located close to infrastructure in politically stable jurisdictions and will enable the Company to significantly expand future production to meet rapidly growing demand from EV and battery markets.
Qualified Person
Gregory Bowes, B.Sc. MBA P.Geo is a "qualified person" as defined under NI 43-101 and has reviewed and approved the content of this news release.
For additional information
Please visit the Company's website at http://www.northerngraphite.com/investors/presentation/, the Company's profile on www.sedar.com, our Social Channels listed below or contact the Company at (613) 241-9959.
This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward- looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements in this release include statements regarding, among others; the Company's intentions to complete the Transaction and related financings and the Company's market position post-Transaction. All such forward-looking statements are based on assumptions and analyses made by management based on their experience and perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. However, these statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected including, but not limited to unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of other parties to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure and the failure of ongoing and contemplated studies to deliver anticipated results or results that would justify and support continued studies, development or operations. Readers are cautioned not to place undue reliance on forward-looking information or statements.
Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119390