Toronto, Ontario--(Newsfile Corp. - January 18, 2017) - CKR Carbon Corporation. (TSXV: CKR) (FSE: CB81) ("CKR" or the "Company"), a graphite development Company, and operator of the Aukam Vein graphite project in Namibia, is pleased to announce results of a ground electromagnetic (EM) survey that shows a 700 metre long anomaly extending east-northeast along strike from the known graphite deposit at Aukam.
The anomaly includes the known graphite occurring in the old workings and shows indications of the three vein lodes. In addition, an anomaly 200 metres to the east, similar in size and intensity, suggests the possibility of additional near surface graphite mineralization. The anomaly is open ended to the east and west and is coincident with a shear zone that may be one of the controls on the location of the graphite mineralization.
"The EM survey successfully confirmed the known graphite and identified potential for further mineralization under cover," said Roger Moss, Chief Executive Officer of CKR Carbon Corporation. "This is the first indication that the mineralized system at Aukam may be larger than previously thought."
The horizontal loop EM (Max-Min) survey was undertaken at a line spacing of 50 metres, station interval of 25 metres and coil spacing of 100 metres initially. Following a review of preliminary data, several lines were run at a station interval of 10 metres and coil spacing of 50 metres for better resolution over the main anomalies.
The technical information in this news release was prepared by Roger Moss, Ph.D., P.Geo a qualified person as defined by National Instrument 43-101.
About the Aukam Project
CKR has, through a Farm Out Agreement with Next Graphite Inc. an option to acquire 63% of the Aukam graphite project by meeting certain milestones and making cash payments. It also has the option to buy an incremental 10% of Next's remaining interest in the License for a cash payment of US$185,000, subject to agreement by Next.
The Aukam Graphite Project is located on 34,082 hectares in southern Namibia close to the port city of Luderitz. The property hosts three underground adits which were mined periodically between 1940 and 1974. Five dumps from the historical mining occur on the property and 73 composite samples taken from the lower three dumps were assayed and averaged 42% Carbon as graphite (Cg). While these composite samples were selected from a much larger screened sample of the dumps, they are not considered representative of the mineralization on the property as a whole.
CKR recently completed a bulk sampling program at Aukam, and has a letter of intent to sell a portion of the graphitic material produced during the program. CKR is currently undertaking technical studies to support an application for a mining license. The company maintains high safety and environmental standards and has a comprehensive strategy of social engagement.
About CKR Carbon Corporation
CKR Carbon Corporation is focused on high quality, natural graphite suitable for use in lithium-ion batteries, graphite foil and other value-added high growth technology applications. We only select projects requiring low capital and a short time to market. The company is listed on the Tsx Venture Exchange under the symbol CKR and has 51.7 million shares outstanding.
For more information:
Visit the website at www.ckrcarbon.com
or contact: Roger Moss, CEO, +1 416-704-8291, [email protected]
For graphite product enquiries:
Arno Brand, Boswell Projects, +1 416-561-4095, [email protected]
Neither 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.
Forward looking statements:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
To view an enhanced version of this graphic, please visit: