VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2012) - Standard Graphite Corp.
(TSX VENTURE:SGH) (the "Company") is pleased to report the completion of the confirmation drilling phase on its historic Mousseau East Graphite Deposit. Drilling is now progressing with the expansion and exploration phases of the Fall 2012 diamond-drilling program.
This program was the first drill program to be carried out on the Mousseau East Graphite Property since the early 1990s following the original discovery and the drilling of a historical resource. The aim of Phase I was to replicate a number of the historical holes to validate the previous dataset and proceed with an up-to-date resource calculation compliant with the current NI 43-101 norms.
During Phase I, some 12 historical holes were duplicated representing approximately 20% of the original diamond-drill holes that served to calculate the historical resource. The confirmation drilling was planned in consultation with P&E Mining Consultants who will be responsible for the upcoming NI-43-101 Resource Estimate. Preliminary visual observations indicate a strong correlation between the historic drilling and the recently completed confirmation drilling. Samples are currently being prepared and will be sent to Act Labs of Ancaster, Ontario for graphitic carbon assaying. Drilling, logging and sampling are carried out under the supervision of MRB & Associates of Val-d'Or, Québec who is also responsible for the sampling protocol.
Chris Bogart, President and CEO, states: "The confirmation drilling remains a fundamental step towards rebuilding the resource at Mousseau East and in this, the ability to use the historical dataset provides a huge advantage allowing us to save both time and capital."
To view a map of the results please click here:
The Mousseau East Property was acquired by Standard Graphite in April of 2012 (see press release April 24, 2012) and is located some 40 kilometres northeast of the town of Mont-Laurier in northwestern Québec and within 50 kilometres of Timcal Canada Inc.'s producing Lac-des-Îles Graphite Mine, which is currently the larger of the two producing mines in North America.
Antoine Fournier, P.Geo., manages Standard's exploration and development programs and is the Qualified Person as defined by National Instrument 43-101. He supervised the preparation of the technical information in this release.
About Standard Graphite
Standard Graphite Corp is focused exclusively on the exploration and development of a large portfolio of flake graphite properties in Canada. The company is rapidly positioning itself as North America's premier pure-play graphite exploration company and it controls 100% interest in 13 highly prospective graphite properties within known graphite districts in both Quebec and Ontario. An aggressive 2012 exploration strategy has commenced and will be implemented by a geologic team with the pedigree of a previous world-class graphite discovery.
ON BEHALF OF THE BOARD
Chris Bogart, President & CEO
The foregoing information may contain forward-looking statements relating to the future performance of Standard Graphite Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Standard Graphite Corp.'s filings with the appropriate securities commissions.
Neither the 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.