VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2012) - Standard Graphite Corp. (TSX VENTURE:SGH) (the "Company") is pleased to report with the progress of Phase II of its fall 2012 diamond drilling program on its flagship Mousseau East Property. Phase II consists of a series of holes aimed at expanding the historical resource as well as testing potential graphitic targets elsewhere on the property.
Drilling to the east of Oat Lake confirmed a new discovery made through prospecting and announced earlier last month (see September 11, 2012 press release). Significant widths of up to 30 metres of graphite-bearing rocks have been observed in core, although little is known about the true thickness of the units due to the geological uncertainty associated with the strike and dip of the units. The continuity of Oat Lake zone has been confirmed so far by three (3) holes showing significant visual graphitic intercepts and the company is currently planning additional holes to better define the potential of this newly discovered zone. The drill core samples have been prepared and sent to Act Labs of Ancaster, Ontario for graphitic carbon assaying.
Please click the following link for the location map of the discovery holes:
Chris Bogart, President and CEO remarks: "The new Oat Lake Zone is still at an early stage but bears many similarities both geologically and in its mineralization with the historical Mousseau East deposit. This augurs well for the overall potential size of our Mousseau East property and more drilling is now required to further explore and delineate this new zone."
Phase II was initiated directly after the resource validation-phase that was recently completed (see September 26, 2012 press release). The program targeted the direct extension of the historical resource and is aimed at potentially expanding the resource believed to be open both laterally and at depth. The company is also testing targets outlined during the property helicopter-borne electromagnetic survey and hammer prospecting.
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.