Canada Carbon acquires additional graphite concessions from Asbury
MISSISSAUGA, Ontario, July 21, 2021 (GLOBE NEWSWIRE) – Canada Carbon Inc. (the “Company” or “Canada Carbon” or “CCB”) (TSX-V: CCB), (FF: U7N1) announces that it has acquired 20 additional mining claims, surrounding its two existing claims on the former site of the Asbury mine. The 22 claims in total (“Asbury claims”) cover 1,205.9 hectares. All of the claims are located in areas where exploration and mining activities are permitted. The Asbury claims are located approximately 8 kilometers northeast of the municipality of Notre-Dame-du-Laus in the Laurentians region of southern Quebec.
The Company’s two original claims, totaling 119 hectares, are the site of the former Asbury graphite mine, a former producing property. Historical exploration by various companies and subsequent resource assessments led to historic production from 1974 to 1988. Surface mining allowed for historical production of 875,000 metric tonnes of graphite ore at a cut-off grade of 6% Cg.
Canada Carbon management has met with the mayor of Notre-Dame-du-Laus and the company has received authorization to begin exploration. CCB will begin to explore the Asbury claims in depth over the next few months to assess the quantity and quality of graphite and potential markets. Canada Carbon will work closely with the municipality to ensure it is aware of our exploration plans and results. CCB is committed to communicating transparently and proactively with the citizens of the municipality to inform them of the company’s actions and answer their questions.
The Asbury claims will be the subject of two exploration phases located in two distinct zones.
The pit area of the old Asbury graphite mine: Previous exploration work near the historic pit area shows the presence of additional graphite mineralization both along the strike and down dip. Of interest is an electromagnetic conductor (“EM”) located southwest of the current pit where up to 2.3% carbon over 40.5 meters (including 4.03% carbon over 11.7 meters) has been identified in a diamond drilling program. This conductor is set for 500 meters in a north-south direction. Another parallel conductor exists near the pit and extends over 600 meters (Charbonneau, 20121).
Regional Electromagnetic Conductor (“EM”) Anomalies: An airborne EM survey was conducted over the northeast area of the Asbury Trench in 2013 by Focus Graphite Inc. The survey covered possible extensions of the Asbury deposit and shows 4 kilometers ( Dubé, 20132). The southwest conductor area includes the historic Asbury pit while the northeast conductor area includes a graphite showing named MC-8805 which included 8.14% Cg over 18.9 meters in a borehole. Both ends of the conductors show significant mineralization.
“Graphite has been identified as a critical and strategic mineral by many countries as it is a building block for a greener future. Canada Carbon is fortunate to have two properties of graphite. While we are firmly committed to moving Project Miller forward, Asbury’s claims may provide us with flexibility, synergies between projects and an opportunity to expand our product offering, ”said Olga Nikitovic, Interim CEO.
Steven Lauzier, P.Geo. OGQ, a qualified person as defined by the guidelines of National Instrument 43-101, has reviewed and approved the technical content of this press release.
For more information:
Canada Carbon Inc.
Director of Public Affairs and Communications
Canada Carbon Inc.
1. Charbonneau, Rémi. 2012. Technical report on the Asbury Graphite property, in accordance with National Standard 43-101, Township of MCGill, Quebec, Canada. Submitted to Canada Carbon Inc. Online on the MERN SIGEOM database. GM67673. 62 pages.
2. Dubé, Joël. 2013. Helicopter-borne magnetic survey and TDEM. Island and Asbury Properties, Laurentides region, Quebec, 2013. Submitted to Focus Graphite Inc. Online on the MERN SIGEOM database. GM67561. 47 pages. Geosciences Dubé & Desaulniers.
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FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements, which relate to future events or future performance and reflect the current expectations and assumptions of management. These forward-looking statements reflect the current beliefs of management and are based on assumptions made by and on information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties which may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required by applicable securities legislation, the Company assumes no obligation to update or revise them to reflect new events or circumstances. All forward-looking statements contained in this press release are qualified by these cautionary statements and those contained in our documents filed with SEDAR in Canada (available at www.sedar.com).