Next Graphite, Inc. Confirms Average 41.58% Graphite Content from Bulk-Screened Tailings
84 Screened Samples Tested by Gecko Laboratories
Un-screened Stockpiles Reported to Contain 35% Graphite
NEW YORK, NY and WINDHOEK, Namibia / ACCESSWIRE / October 28, 2014 / Next Graphite, Inc. (OTCQB: GPNE) ("Next Graphite", "GPNE" or the "Company"), an exploration/development stage company in Africa's Republic of Namibia targeting the growing global graphite production industry and market demand, today announced its graphite grading and testing results from the Company's bulk screening program. Next Graphite's bulk testing program was conducted by Gecko Laboratories in Namibia.
Gecko Laboratories is an independent metallurgical testing company based in Swakopamund, Namibia. Samples of screened and unscreened graphite bearing rock were collected from the Company's 140,000 metric tonne on-site heaps. Tests carried out on 84 samples from the bulk screening phase graded an average of 41.58 % graphite. 95% of samples tested to date range from 32% to 69% graphite content with the highest sample recorded at 82% graphite. Additionally, GPNE tested a representative sample collected from its 350 metric tonne fines stockpile. This unscreened sample graded 35% graphite content.
"Our testing phase and preliminary results from Gecko Laboratories is a significant validation and milestone at our Aukum site," began Cliff Bream, CEO of Next Graphite. "We will continue our testing and begin more detailed, flotation testing on our samples and then report these new findings to our shareholders. With these preliminary results in hand, we will continue our testing at SGS Labs in Canada to also evaluate the processing equipment and mining options needed to commercialize our on-site graphite, at the highest price we can obtain from the market."
About Next Graphite, Inc.:
Next Graphite, Inc. is an exploration/development stage company targeting the growing global graphite production industry with the Company's 125,000-acre Africa-based Aukam Graphite Project. The Aukam Graphite Mine was established in 1940 in the current Republic of Namibia, produced USD$30 million of graphite at today's prices. The Graphite property is estimated to still contain a significant amount of high grade, vein type graphitic material. Global graphite demand is being driven by the development of new markets for clean and efficient energy alternatives, smart grid infrastructure and military capabilities. Next Graphite has an immediately available, surface-visible, estimated 140,000-ton mine dump along with competitive projected mining and processing costs. The completion of GPNE's Aukam Graphite Mine re-launch and development activities are expected to result in a multi-million dollar inward investment into Namibia in 2014-2015.
For more information, please visit: www.nextgraphite.com
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Next Graphite Inc.'s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Africa, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements. Among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Africa, general economic conditions; geopolitical events and regulatory changes, availability of capital, the Company's ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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SOURCE: Next Graphite, Inc.