FGR Fengro Industries Corp

First Graphite Corp. (TSX VENTURE:FGR) (the "Company" or "First Graphite") is
pleased to announce that results from a helicopter-borne geophysical survey on
the Henry Graphite Property (the Property) have been received from Geotech Ltd.
of Aurora, Ontario. A total of 1452 line-kilometers of Versatile Time Domain
ElectroMagnetic (VTEM) and magnetic data were collected during the survey, with
the objective of identifying VTEM conductors that are typically associated with
graphite mineralization. 


Two discrete moderate- to high-conductivity, north-northeast trending VTEM
conductors have been identified in the northern and southern sectors of the
Property, respectively, in addition to a number of smaller anomalies (see
www.firstgraphite.ca/s/henry.asp?ReportID=519338). The western anomaly measures
approximately 7 km by 1 km while the eastern anomaly measures approximately 14
km by 1.2 km. Historic data indicates that widespread graphite mineralization is
present on the Property, including mineralization identified in outcrops and
drill holes coincident with the two high priority VTEM anomalies.


The newly acquired geophysical data will be used by the Company to guide its
ground exploration program, which will consist of prospecting the historic
graphite occurrences, surface sampling, geological mapping and exploration
drilling.


Vince Sorace, President and CEO of First Graphite Corp. stated: "The Henry
Property is a high quality graphite project with near-term potential. The access
is excellent and the geological setting is similar to the Deep Bay Graphite
deposit located 20 kilometres to the northeast. We look forward to drill testing
coincident geophysical and geological targets associated with surface
mineralization."


Henry Property

The Henry Property consists of six road-accessible mineral claims covering
approximately 22,853 hectares, located 10 km southwest of the community of
Southend, Saskatchewan. Historic exploration work in the area was focused on
base metals and titanium, rather than graphite. 


The Property is underlain by high-grade Precambrian metamorphic rocks of
sedimentary origin, which is an ideal setting for the development of large-flake
graphite deposits such as that found at Deep Bay (located 20 km northeast of the
Henry Graphite Property). As such, The Henry Property fits well-recognized
geological and geographical criteria that define a potential area for the
possible development of graphite resources at limited capital cost. 


The technical information in this news release has been reviewed by Dr. Alan J.
Wainwright, Ph.D., P.Geo., Exploration Manager for First Graphite Corp. and a
Qualified Person under the definition of National Instrument 43-101.


About First Graphite

First Graphite Corp. is a Vancouver-based mineral exploration company focused on
the development of graphite projects in Canada. The company currently has three
graphite properties led by its flagship project, the Henry Graphite Property,
located near the Deep Bay Graphite Deposit in north-eastern Saskatchewan,
Canada.


This news release contains certain statements that may be deemed
"forward-looking statements. Forward looking statements are statements that are
not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although First Graphite Corp.
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results or realities may differ materially from those in
forward looking statements. Forward looking statements are based on the beliefs,
estimates and opinions of First Graphite Corp.'s management on the date the
statements are made. Except as required by law, First Graphite Corp. undertakes
no obligation to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should change.

Fengro Industries (TSXV:FGR)
Historical Stock Chart
From Nov 2024 to Dec 2024

Fengro Industries (TSXV:FGR)
Historical Stock Chart
From Dec 2023 to Dec 2024