Next Graphite Completes First Phase of an EIA for the Aukam Graphite Project
NEW YORK, NY / ACCESSWIRE / October 3, 2016 / Next Graphite, Inc. (OTC PINK: GPNE) ("Next Graphite," "GPNE" or the "Company"), a graphite exploration/development stage company in the African Republic of Namibia, is pleased to announce progress on an Environmental Impact Assessment (EIA) for its Aukam graphite project.
Next's JV partner has begun work on an EIA at an integral part of the Company's application for a mining permit Aukam. The study will consist of three phases of work:
Phase 1 includes gathering all of the information about the project required to apply for an environmental clearance certificate. This phase is complete and the application for the certificate has been submitted.
Phase 2 includes the generation of an environmental scoping report and a draft environmental management plan, both of which will be submitted to the Environmental Commissioner.
Phase 3 includes gathering data on relevant physical, biological and socio-economic conditions to form an assessment of baseline environmental conditions and potential impact of the project.
A final report and environmental management plan will be submitted to the Environmental Commissioner at the end of the study.
It is expected that the EIA will be completed and submitted to the Ministry of Environment and Tourism before the end of 2016.
"The EIA is an integral part of our application for a mining permit at Aukam and we are very pleased to get the study underway and continue our pace of activity," said Cliff Bream, CEO of Next Graphite. "The Company intends to be responsive to the needs of all stakeholders to ensure that the Aukam graphite project is beneficial to all involved."
About Next Graphite, Inc.:
Next Graphite, Inc. is a development stage company targeting the growing global graphite production industry with the Company's Africa-based Aukam Graphite Project. The Aukam Graphite Mine was established in 1940 in the current Republic of Namibia and produced USD $30 million of graphite at today's prices. The site is located on approximately 96,000 acres (34,082 hectares) in southern Namibia close to the port city of Luderitz and is estimated to contain a significant amount of high grade, vein type graphitic material.
The property hosts three underground adits that were mined periodically between 1940 and 1974. Five dumps from the historical mining occur on the property and 73 samples from the lower three dumps were assayed and averaged 42% Cg. Next Graphite's joint venture has completed a bulk-sampling program at Aukam, and the joint venture has a letter of intent to sell the graphitic material produced during the program. Findings to date have reinforced Next's intent to put the historical mine back into production. The Company is working to transition from its current exploratory license to a full mining license and build a new graphite processing facility. Next's joint venture in Namibia maintains high safety and environmental standards and has a comprehensive strategy of social engagement.
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.
SOURCE: Next Graphite, Inc.