Welcome!

Agile Computing Authors: Liz McMillan, Elizabeth White, Pat Romanski, Rishi Bhargava, Xenia von Wedel

News Feed Item

Mason Graphite Reports High Grade Intercepts in North-East Extension of Lac Gueret; One Hole Intersected 98m at 29.8% Cg Near Surface, Including 56m at 36.2% Cg

MONTREAL, QUEBEC -- (Marketwired) -- 07/29/14 --

Mason Graphite Inc. ("Mason Graphite" or the "Company") (TSX VENTURE:LLG)(OTCQX:MGPHF) is pleased to report positive assay results from the 2013-2014 drilling program at its Lac Gueret project in northeastern Quebec. The drill program consisted of 97 holes totaling 15,108 metres and was designed to pursue three objectives:


--  to explore for mineral extensions to the North-East and beyond the
    defined resource envelope of the GC Zone (18 holes totaling 2,085
    metres); 
    
--  to explore for mineral continuity within the defined resource envelope
    of the GC Zone (68 holes totaling 11,323 metres); and 
    
--  to conduct exploration drilling on graphite showings on the property
    outside the areas where drilling was conducted in the past (11 holes
    totaling 1,700 metres). 

This press release reports assay results from drilling conducted in the North-East extension; the remaining drilling results from other areas noted above will be reported in upcoming communications.

Results Confirm Continuity of N-E Extension in GC Zone

Intercept highlights from the assay results in the North-East extension of the GC Zone, include:


--  Hole LG-459 intersected 73 metres at 28.5% Cg close to surface (9
    metres), including 41 metres at 39.0% Cg; 
    
--  Hole LG-469 intersected 86 metres at 27.8% Cg, including 31 metres at
    42.3% Cg; 
    
--  Hole LG-472 intersected 70 metres at 28.8% Cg close to surface (4
    metres), including 25 metres at 42.0% Cg; 
    
--  Hole LG-489 intersected 66 metres at 30.0% Cg close to surface (4
    metres), including 46 metres at 38.3% Cg; 
    
--  Hole LG-491 intersected 98 metres at 29.8% Cg close to surface (4
    metres), including 56 metres at 36.2% Cg. 

"We are very encouraged with the results from the North-East extension. This exploration target is located at the edge of the defined mineral resource, and adjacent to the pit design from the preliminary economic assessment we completed in April 2013. These results confirm mineralization near surface with excellent widths and mineral continuity beyond the current mineral resource boundary." said Benoit Gascon, President and CEO of Mason Graphite.

Table 1 - Most relevant drill results from the NE Extension (18 holes totaling approximately 2,085 metres)


                                                                            
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Section         Drill hole #  From (m)    To (m)    Length(1)(m)        % Cg
----------------------------------------------------------------------------
----------------------------------------------------------------------------
1350                  LG-460         4        41              37        34.0
                            ------------------------------------------------
                       incl.         4        32              28        39.8
            ----------------------------------------------------------------
                      LG-468          No significant mineralization         
            ----------------------------------------------------------------
                      LG-469        44       130              86        27.8
                            ------------------------------------------------
                       incl.        54        85              31        42.3
                            ------------------------------------------------
                       incl.       105       130              25        30.1
            ----------------------------------------------------------------
                      LG-488       108       124              16        14.3
                            ------------------------------------------------
                                   129       140              11        21.0
            ----------------------------------------------------------------
                      LG-489         4        70              66        30.0
                            ------------------------------------------------
                       incl.         6        52              46        38.3
                            ------------------------------------------------
                                    89       106              17        17.2
----------------------------------------------------------------------------
1400                  LG-459         9        82              73        28.5
                            ------------------------------------------------
                       incl.         9        50              41        39.0
            ----------------------------------------------------------------
                      LG-466        33       117              84        27.4
                            ------------------------------------------------
                       incl.        57        93              36        36.1
            ----------------------------------------------------------------
                      LG-473        56        77              21        13.8
            ----------------------------------------------------------------
                      LG-477         6        43              37         8.2
                            ------------------------------------------------
                                    49        96              47        20.2
                            ------------------------------------------------
                       incl.        69        90              21        31.7
            ----------------------------------------------------------------
                      LG-490       109       127              18        12.8
            ----------------------------------------------------------------
                      LG-491         4       102              98        29.8
                            ------------------------------------------------
                       incl.        11        67              56        36.2
----------------------------------------------------------------------------
1450                  LG-456        11        74              63        20.1
            ----------------------------------------------------------------
                      LG-472         4        74              70        28.8
                            ------------------------------------------------
                       incl.        27        72              45        38.9
                            ------------------------------------------------
                       incl.        27        52              25        42.0
            ----------------------------------------------------------------
                      LG-478         4        63              59        18.8
                            ------------------------------------------------
                       incl.         4        41              37        23.8
----------------------------------------------------------------------------
1500                  LG-462        48        55               7        16.7
            ----------------------------------------------------------------
                      LG-479          No significant mineralization         
            ----------------------------------------------------------------
                      LG-492          No significant mineralization         
            ----------------------------------------------------------------
                      LG-493         4        44              40        13.8
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Notes:


1.  Lengths are measured drill intervals - the true thicknesses are not
    known at this stage; 
2.  Length figures are rounded to nearest integer for clarity. 

Figure 1 - Lac Gueret project map with drill hole locations is available at this address: http://media3.marketwire.com/docs/959898e_Fig1.pdf

Operational Update and Upcoming Milestones

Mason Graphite has retained the services of Roche Ltee for the calculation of an updated mineral resource estimate including the results from the 2013/2014 drilling program. The updated block model will be used as an input for the upcoming feasibility study for the Lac Gueret project.

Also, in preparation for the upcoming feasibility study, the Company has been working with the metallurgical laboratories, COREM (Quebec City) and URSTM (Rouyn-Noranda), as well as consulting firm Soutex Inc. (Quebec City) for the optimization of the concentration process. A mandate was also awarded to Montreal-based consulting firm Hatch, to conduct trade-off studies and peripheral studies (hydro-geological and geotechnical) required for the development of the feasibility study.

A 100-ton bulk sample was collected at the Lac Gueret property in early July for the upcoming pilot plant test program, which is scheduled to commence this fall in conjunction with the feasibility study.

About Mason Graphite

Mason Graphite is a Canadian mining company focused on the exploration and development of its 100% owned Lac Gueret graphite property, located in northeastern Quebec. The property hosts a National Instrument 43-101 compliant Mineral Resource featuring 50,024,000 tonnes grading 15.6% Cg, including 6,672,000 tonnes grading 32.4% Cg, in the Measured and Indicated categories and 11,861,000 tonnes grading 17.1% Cg, including 2,637,000 tonnes grading 30.5% Cg, in the Inferred category (see press release dated December 5, 2013). Excellent potential exists for further mineral growth. A Preliminary Economic Assessment study was completed on a 7.6Mt mineral resource estimate from July 2012 which features 22 years of production at 27.4% Cg and a pre-tax internal rate of return of 33.7% (see technical report entitled "Technical Report on the Mineral Resources Estimation Update 2013, Lac Gueret Graphite Project, Quebec, Canada" issued on January 17, 2014). The Company's senior management team possesses significant graphite expertise from their experience at Timcal/Imerys, including Benoit Gascon, CPA, CA, who held executive positions for 20 years, including over 6 years as President and CEO; Jean L'Heureux, Eng., Executive Vice-President, Process Development, with over 20 years of experience; and Luc Veilleux, CPA, CA, Chief Financial Officer and Executive Vice-President, with 8 years of experience. Timcal, now owned by Imerys, is one of the largest graphite producers in the world.

Qualified Persons / Quality Control and Assurance

Yves Caron, P. Geo., Mason Graphite's Director of Exploration and Geology and a Qualified Person as defined by National Instrument 43-101, supervised the drill program and has reviewed and approved geological, scientific and technical content of this press release.

Jean L'Heureux, Eng., Mason Graphite's Executive Vice-President Process Development and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the metallurgical, scientific and technical content of this press release.

Analyses for this drilling campaign were carried out by AGAT Laboratories Ltd. in Mississauga, Ontario, a company independent from Mason Graphite and ISO 17025 certified. A thorough Quality Control and Assurance program (QA/QC) was exercised, with Mason Graphite inserting one blank, one standards and one duplicate every 50 samples. Carbon as graphite ("Cg") assays reported in this press release were obtained by using a LECO instrument following analytical technique ASTM E1915-07A with a detection limit of 0.01% Cg. Drill holes were sampled over an average of 1.5 metre intervals.

Stay Connected:

Twitter: @MasonGraphite

Facebook: /MasonGraphite

For more information about Mason Graphite, visit www.masongraphite.com.

Cautionary Statements

This press release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) the risks associated with entering into joint ventures; (vii) fluctuations in commodity prices; (viii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (ix) competition faced by the resulting issuer in securing experienced personnel and financing; (x) access to adequate infrastructure to support mining, processing, development and exploration activities; (xi) the risks associated with changes in the mining regulatory regime governing the resulting issuer; (xii) the risks associated with the various environmental regulations the resulting issuer is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) risks related to potential conflicts of interest; (xv) the reliance on key personnel; (xvi) liquidity risks; (xvii) the risk of potential dilution through the issue of common shares; (xviii) the Company does not anticipate declaring dividends in the near term; (xix) the risk of litigation; and (xx) risk management.

Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.

The quantity and grade of reported inferred mineral resources in this news release are uncertain in nature and there has been insufficient exploration to define these inferred mineral resources as indicated or measured mineral resources and it is uncertain if further exploration will result in upgrading them to indicated or measured mineral resources.

The PEA is preliminary in nature and includes Inferred Mineral Resources, which are considered too geologically speculative to have mining and economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no certainty that the reserves development, production, and economic forecasts on which the PEA is based will be realized.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Dave McCarthy, Director of Products at Bsquare Corporation; Alan Williamson, Principal...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"At ROHA we develop an app called Catcha. It was developed after we spent a year meeting with, talking to, interacting with senior citizens watching them use their smartphones and talking to them about how they use their smartphones so we could get to know their smartphone behavior," explained Dave Woods, Chief Innovation Officer at ROHA, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2017 New York. The 20th Cloud Expo and 7th @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Internet to enable us all to im...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.