VANCOUVER, Canada / ACCESSWIRE / June 12, 2014 / Alabama Graphite Corp. (the “Company“) (TSX-V: ALP) (OTCQB: ABGPF) (FRANKFURT: 1AG WKN: A1J35M) (ISIN# CA0102931080) is pleased to announce that it has begun ground geophysics at its flagship Coosa Project in Alabama, USA.
KLM Geoscience of Las Vegas, Nevada, was selected to conduct follow-up geophysics on targets identified in its recently completed airborne geophysical survey. KLM is on site and is evaluating both GEM-2 and TDEM systems over the defined Coosa Resource. The two systems differ in ease of use and depth of penetration. Once the effectiveness of these surveys is determined, one or both of the systems will then be used to evaluate which of the five new primary targets identified through the airborne survey conducted this past May, are the highest quality and worthy of further exploration.
“Our surface sampling program is nearly complete therefore our goal now is to integrate the results of the air and ground geophysics as quickly as the data can be processed,” stated Dr. Douglas Oliver, VP of Exploration. “Once the geochemical and geophysical data sets are integrated, the next step is to initiate a targeted sonic drill program. Ultimately, we anticipate that our program of surface sampling, geophysics and targeted sonic drilling will identify the most optimal targets worthy of a follow on comprehensive drill program in Q3 in order to establish the highest quality resource. From these results, we anticipate completing a bulk sampling program and a Preliminary Economic Assessment as quickly as possible later this year to further define the economics of building an environmentally sustainable graphite mine in the United States.”
Rick Keevil, P. Geo., a Director of the Company and VP of Project Development, is a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this press release.
Alabama Graphite Corp.’s mission is to become one of the greenest graphite producers in the world. The Company, through its wholly-owned subsidiary, Alabama Graphite Company Inc., is conducting exploration and development on its flagship project “The Coosa Graphite Project” in Coosa County, Alabama, USA. The project encompasses over 40,000 acres and is located in an area with significant historical production of crystalline flake graphite. The Coosa Graphite project is 100% owned by Alabama Graphite and on private land. The Company’s property has in place critical infrastructure, is within close proximity to transportation routes and a hospitable climate allowing for year-round production and delivery. The Company published an inaugural mineral resource estimate in July 2013, which was revised in March 2014, is continuing to define the footprint of the “The Coosa Graphite Project” and will look to start work on the 100% owned “Hearst Graphite Property” in Northern Ontario. For further information and updates on the Company please visit www.alabamagraphite.com.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect Alabama Graphite Corp.’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of Alabama Graphite Corp. with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and Alabama Graphite Corp. undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
Alabama Graphite Corp cautions that the foregoing list of material factors is not exhaustive. When relying on Alabama Graphite Corp. forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Alabama Graphite Corp. has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
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SOURCE: Alabama Graphite Corp.