Global Li-Ion Graphite Reports Positive Review Of All Available Data On Its Ambato-Arana Madagascar Graphite Project
Vancouver, BC / TheNewswire / OCTOBE R 4th 2017 – Global Li-Ion Graphite Corp. (“LION” or, the “Company”) (CSE: LION) is pleased to announce it has reviewed the available historical data on the Ambato-Arana Graphite Project in Madagascar (the “Project”)
The three mining exploitation licenses the comprise the Project are located in the vicinity of Andasibe in Toamasina Province in Madagascar, 20 km to the southwest of Sheritt’s Ambatovy nickel/cobalt laterite open pit mine, and 200km via road from the seaport of Toamasina, Madagascar’s main port. The licenses total 4,375 hectares with a reported historical graphite production from 1910 to 2008 that ranged between 7.5% – 15% graphite with an average of 12% and with 15-20% graphite with a grain size of 50 mesh.
Jason Walsh, President of Lion stated “I am extremely pleased with our historical review reveling the property produced 50 mesh graphite. Coarse graphite with a recent price as high as $6,000 USD a tonne indicates the project is a significant asset for Lion shareholders. The fact that the project operated for almost 100 years is testament to the property's potential and Madagascar. There is no wonder why Mining and exploration activity in Madagascar has increased.”
The preliminary data review revealed that recently four grab samples collected in 2014 ranged from 1.09% to 10.07% total carbon. Sample 2 which gave 10.09% total carbon was taken from one of the historical pit faces. The rock was composed of 20-30% graphite with abundant angular, black platy/flaky tabular hexagonal graphite crystals, with perfect cleavage in occasional examples distinct dull metallic lustre.
The Board and Management of Global Li-Ion Graphite are very encouraged with the review of the historic data compiled on the Project. As a result, the Company has initiated plans to start verification programs including rehabilitation of the existing infrastructure and access.
The technical information presented above is historical in nature and derived from previous operators and has not been verified by Lion. However, Lion intends to use these results to guide its future exploration and evaluation of the project.
Further information about Global Li-Ion is available under its profile on the SEDAR website, www.sedar.com , on the CSE website, www.thecse.com , and the Company’s website, www.globalli-iongraphite.com .
This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks discussed in the Company's Management's Discussion and Analysis under the Company's profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any particular time.
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