Next Graphite, Inc. Releases Flotation Testing Results on Its Aukam Property Above-Ground Assets
10.12.2014 | Accesswire
Flotation Results Report 97.1% GraphiteNew York. NY and Windhoek, Namibia / ACCESSWIRE / December 10, 2014 / Next Graphite, Inc. (OTCQB: GPNE) ("Next Graphite", "GPNE" or the "Company"), an exploration/development stage company in Africa’s Republic of Namibia targeting the growing global graphite production industry and market demand, today announced post-flotation graphite concentration and grading results from the Company’s bulk sampling and screening program of its above-ground assets.
As reported by the Company in August of this year, its 500 tonne bulk sampling program extracted from the Company’s 140,000 tonne mine heaps produced a total of 150 tonnes of high grade lumps at a 3:1 lump-to-waste ratio with an average grade of 42% graphite. The majority of the graphitic lumps ranged in purity from 40-80% graphite and a residual 350 tonnes of lesser grade material graded an average of 34% graphite.
The Company just completed additional testing at Gecko Laboratories, Namibia, including flotation tests that reported the flotation characteristics of its lump graphite and will ultimately influence the Company’s plant design. These tests were conducted on 1,763 pounds of composite samples drawn from the 150 tonnes of pre-screened graphitic lump, residual and waste material.
Flotation tests were carried out on samples and then tested for purity and grade. A 212-micron grind was determined the optimal size for flotation, and delivered a result of 97.1 % pure graphite after a single, rougher float. An average of 96.2 % graphite was recorded in the concentrates across all samples including waste material.
Below are the recorded results from Gecko Laboratories:
Concentrate Rougher
Composite Sample ID Head Grade % Graphite Float -212 µm % Graphite
Compos 1 18.6 96.4
Compos 2 33.4 95.3
Compos 3 42.3 96.6
Compos 4 49.3 97.1
Compos 5 57.2 95.7
Compos 6 63.1 96.0
Compos 7 63.1 96.4
Source: Gecko Laboratories, Namibia.
"We could not be more pleased by these results," began Cliff Bream, CEO of Next Graphite. "Our flotation tests at 212 micron grind size produced a very high purity of graphite after just one flotation, which is a strong indicator of the quality of the graphite at Aukam. The test results also provide us with the ability to begin positioning ourselves for off-take agreements with graphite consumers around the world."
GPNE is currently in the process of designing a graphite processing plant, which it plans to build on site. Once the initial design is completed, the Company will be able to do a preliminary economic analysis that will be able to determine the viability of its above ground assets. These results greatly influence the Company’s economic understanding of its above ground asset, and could substantially increase its recoverable resource.
About Next Graphite, Inc.:
Next Graphite, Inc. is an exploration/development stage company targeting the growing global graphite production industry with the Company's 125,000-acre Africa-based Aukam Graphite Project. The Aukam Graphite Mine was established in 1940 in the current Republic of Namibia, produced USD$30 million of graphite at today's prices. The Graphite property is estimated to still contain a significant amount of high grade, vein type graphitic material. Global graphite demand is being driven by the development of new markets for clean and efficient energy alternatives, smart grid infrastructure and military capabilities. Next Graphite has an immediately available, surface-visible, estimated 140,000-tonne mine heaps along with competitive projected mining and processing costs. The completion of GPNE's Aukam Graphite Mine re-launch and development activities are expected to result in a multi-million dollar inward investment into Namibia commencing in 2015.
For more information, please visit: www.nextgraphite.com
Safe Harbor Statement: This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Next Graphite Inc.’s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Africa, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements. Among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Africa, general economic conditions; geopolitical events and regulatory changes, availability of capital, the Company's ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
CONTACT:
Next Graphite, Inc.
John Mattio, Investor Relations
+1 949 397-2522 ext. 3
ir@nextgraphite.com