Next Graphite, Inc. Concludes 25-Tonne Underground Bulk Sampling Program
Initial 25-Tonne Vein Graphite Sample Extracted From Lower Adit on Aukam Property
NEW YORK, NY and WINDHOEK, NAMIBIA--(Marketwired - Aug 6, 2015) - Next Graphite Inc. (OTC PINK: 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 it has concluded a 25 tonne bulk sample pulled from one of three existing adits on the Company's Aukam property.
As announced in May of this year, geologists at Next Graphite began exploring the Company's 125,000-acre property, which contain three underground adits which were mined periodically between 1940 and 1974 and produced a recorded total of 26,740 tonnes of lump graphite. After 1974, the mine was closed due to an adit fire.
The lump graphite extracted during the bulk-sampling program is being tested for quality and purity. This testing will further define the characteristics of the material and its suitability for added value manufacturing applications. During a previous bulk sampling and testing program an average head grade of 42.5% was realized. The Company also conducted some flotation tests on this material and was able to upgrade the lump graphite consecutively across all samples to +96%C.
"Vein graphite is in high demand in the market and our Aukam Graphite project is one of the few lump graphite projects in the world," began Cliff Bream, CEO of Next Graphite Inc. "We have been meticulous in our sampling, testing and grading process to ensure we have all the approvals and certifications to offer our graphite to the market at the best price possible. Our cost-structure to process graphite in Namibia, combined with the fact that our mine still provides access to graphite vein lodes, is a tremendous benefit for our Company, shareholders and future customers who require high-quality vein graphite for battery systems and consumer products. The financing commitment by our Joint Venture partner, Micron Investments, and their geologist team provides an additional validation of our asset and the capital to begin processing in the near term," Bream concluded.
About Next Graphite, Inc.:
Next Graphite Inc. is an exploration/development stage company targeting the growing global graphite production industry with the Company's 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
CONTACT:
John Mattio
Investor Relations
+1 949 397-2522 ext. 3
ir@nextgraphite.com