Aug 7 2015
Next Graphite, Inc. ("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.
Source: http://www.nextgraphite.com/