Northern Graphite Reports Additional Metallurgical Test Results
23 April 2012 - 10:45PM
Marketwired Canada
Northern Graphite Corporation (TSX VENTURE:NGC)(OTCQX:NGPHF) is pleased to
announce that variability testing has been completed on its Bissett Creek
Project and has confirmed that the high recovery of large flake, high purity
graphite is consistent across the entire resource. The overall recovery from
eight Locked Cycle Tests ("LCT") was 97% and almost all concentrate will qualify
for large flake (+80 mesh), high carbon (94%) pricing. In fact, 33% of the
concentrate was +50 mesh, 97% graphitic carbon ("Cg") and 19% was +32 mesh, 98%
Cg which are exceptional products that will attract premium pricing based on
both flake size and carbon content. In two of the locked cycle tests the +32
mesh concentrate reached 99% Cg.
SGS Metallurgical Services (Lakefield) ("SGS") performed the LCTs on
representative drill core samples taken from a number of locations within the
deposit to confirm that the recovery and flake size distribution were consistent
throughout the resource. The eight LCT tests produced final concentrates which
showed consistent flake size distribution and carbon content. The overall
concentrate grade averaged 95% Cg with a 97% recovery. A concentrate which
grades 94% Cg and has a flake size distribution of 80% greater than +80 mesh is
the industry standard large flake product. Almost all Bissett Creek production
meets this specification as 75% of the final concentrates were +80 mesh.
Approximately 5% of the concentrate was +100 mesh, 94% Cg and 10% was +200 mesh,
93% Cg. Less than 9% was very small, -200 mesh flake grading 83% Cg. Concentrate
smaller than -150 mesh and 90% Cg may not be salable unless it can be upgraded
to +90% Cg which the Company believes it can achieve by recirculating the -200
mesh flake within the circuit.
Most significantly, 52% of the graphite concentrate produced was jumbo size, +50
mesh flake which averaged 97.4% Cg. Two of the tests produced +32 mesh flake at
greater than 99 % Cg. No premium pricing was used in the Preliminary Economic
Assessment and it will not be used in the bankable final Feasibility Study
("FS").
Gregory Bowes, Chief Executive Officer, commented that: "We have now
successfully completed the full suite of metallurgical testing, including lab
and bench scale work, a bulk sample/pilot plant test and now variability
testing, and believe it confirms Bissett Creek concentrates will have the best
flake size distribution and the highest carbon content in the industry." He
added that: "With the FS scheduled for completion in May, 2012, Bissett Creek is
one of the most advanced new graphite projects in the world."
Concentrate Flake Size Distribution (%) and Graphitic Carbon (Cg) Grade (%)
----------------------------------------------------------------------------
Recovery +32 Cg +50 Cg +80 Cg +100 Cg +200 Cg
Composite % (%) (%) (%) (%) (%) (%) (%) (%) (%) (%)
----------------------------------------------------------------------------
LG Pit #3 96.8 19.0 96.1 32.8 95.6 23.2 94.2 5.0 93.8 10.4 90.0
----------------------------------------------------------------------------
LG Pit #4 95.2 22.6 97.6 32.6 96.3 20.1 94.6 4.6 92.3 9.5 91.2
----------------------------------------------------------------------------
MG Pit #2 97.7 23.7 98.5 34.1 97.5 22.1 96.1 3.9 95.5 8.7 95.3
----------------------------------------------------------------------------
MG Pit #4 96.8 25.7 97.5 32.8 96.5 19.9 95.5 3.8 94.5 9.3 92.3
----------------------------------------------------------------------------
HG Pit #1 99.1 11.2 98.5 31.9 97.8 28.1 94.3 7.0 91.1 12.8 91.5
----------------------------------------------------------------------------
HG Pit #2 96.2 14.8 99.2 32.8 97.4 25.9 96.1 5.9 95.0 12.0 93.3
----------------------------------------------------------------------------
HG Pit #3 97.1 20.2 97.4 35.1 96.3 22.7 95.1 5.3 94.8 9.3 93.6
----------------------------------------------------------------------------
HG Pit #4 98.3 15.7 99.0 32.0 98.9 24.4 94.9 6.0 95.2 11.7 94.7
----------------------------------------------------------------------------
Average 97.1 19.1 98.1 33 97 23.3 95.1 5.2 94 10.5 92.7
----------------------------------------------------------------------------
Note: 8.9% of concentrate was -200 mesh at 83% Cg
----------------------------------------------------------------------------
Test work at SGS has been ongoing for the past year and a half and culminated in
a pilot plant program in December 2011 which also demonstrated that over 50% of
the recovered flake will be +50 mesh grading over 97% Cg. The overall carbon
recovery in the LCT tests was 97.1% and indicate that with optimization, Pilot
Plant recoveries of 90.5% to 94.5% can be increased to 95% in the full scale
mill.
Don Baxter, P.Eng, President of the Company and a "Qualified Person" under
43-101, is responsible for and has reviewed and approved the technical content
of this press release.
About SGS Metallurgical Services (Lakefield)
SGS Metallurgical Services is recognized as the world leader in the development
of bankable flowsheets and pilot plant programs. SGS Metallurgical Services was
founded over half a century ago. Its metallurgists, hydrometallurgists and
chemical engineers are experienced in all the major physical and chemical
separation processes utilized in the recovery of metals and minerals contained
in orebodies around the world.
About Northern Graphite Corporation
Northern Graphite Corporation is a Canadian company that has a 100% interest in
the Bissett Creek graphite project, located 17kms from the Trans Canada highway
between Ottawa and North Bay, Ontario and close to infrastructure. A FS and Mine
Closure Plan ("MCP") are expected to be completed and filed in May, 2012. On
acceptance of the MCP the Company will be in a position to initiate
construction, subject to positive results from the FS and the availability of
financing.
Graphite prices have increased substantially due to the ongoing modernization of
China and other emerging economies which has resulted in strong demand from
traditional steel and automotive markets. In addition, new applications such as
lithium ion batteries, fuel cells and nuclear power have the potential to create
significant incremental demand growth. It takes 20 to 30 times as much graphite
as lithium to make a Li ion battery and their use in the growing EV/HEV market
is expected to require significant increases in graphite production. However,
graphite production and exports from China, which produces 70% of the world's
supply, are expected to decline and an export tax and a licensing system have
been instituted. Both the European Union and the United States have declared
graphite a supply critical mineral.
Northern Graphite is well positioned to benefit from this compelling
supply/demand dynamic with a near term development project located in Canada.
Additional information on Northern Graphite Corporation can be found under the
Company's profile on SEDAR at www.sedar.com and on the Company's website at
www.northerngraphite.com.
This press release contains forward-looking statements, which can be identified
by the use of statements that include words such as "could", "potential",
"believe", "expect", "anticipate", "intend", "plan", "likely", "will" or other
similar words or phrases. These statements are only current predictions and are
subject to known and unknown risks, uncertainties and other factors that may
cause our or our industry's actual results, levels of activity, performance or
achievements to be materially different from those anticipated by the
forward-looking statements. The Company does not intend, and does not assume any
obligation, to update forward-looking statements, whether as a result of new
information, future events or otherwise, unless otherwise required by applicable
securities laws. Readers should not place undue reliance on forward-looking
statements.
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