Global Li-Ion Graphite Reports Results from its Drill Program Completed at the Chedic Graphite Project, Nevada
LION:CSE GBBGF:OTCQB 0TD:F
Vancouver, British Columbia, Canada (Monday July 23, 2018) – Global Li-Ion Graphite Corp. (“Global Li-Ion” or, the “Company”) (CSE: LION) reports findings following completion of drilling and sample analysis of drill cuttings samples and diamond drill core samples taken at the Chedic Graphite project and receipt of the final program report.
About the Chedic Graphite Project
The Chedic Property is in the Voltaire mining district west of Carson City, NV. The claims generally are on a ridge along the crest of the Carson Range.
Graphite horizons are non-resistant and outcrop poorly. Four selected samples taken during the technical report field examination analyzed 3.69 to 29.00% total carbon. Graphite is an excellent conductor and typically will give a good geophysical response. A CSAMT/MT survey showed a strong response over a +1300 meter (+4,000 feet) length coincident with the limited scattered exposures of graphite. The first four reverse circulation holes cut graphitic intervals ranging from 10 feet of 6.08% carbon to 30’ of 4.82% carbon.
Drill Program Results
The first four drill holes; CD-1, CD-2, CD-4 and CD-5; were completed using a reverse circulation drill (RC). The drilling was suspended before the fifth hole (CD-3) commenced, due to adverse weather and subsequent wet ground conditions. That hole, CD-3, was later completed using a diamond drill to test core recovery compared to wet RC sampling. All sampling was personally done or overseen by William Feyerabend, QP, who transported or shipped the samples to American Assay Laboratory, Sparks, NV for total carbon analyses using an ELTRA carbon sulfur analyzer.
The conclusion from the results of all five holes are that:
More graphite is lost and therefore not recovered in the sampling using the diamond drill core method than the recirculation recovery of rock chip samples. The diamond drill core samples show that the host rock is intensely fractured and faulted. The graphite mineralization occurs in multiple sedimentary horizons within a basaltic andesite volcanic event. The sediments which host the graphite are comprised of fine sands, silts and clays.
Additional findings were announced in a previous release linked here:
GLOBAL LI-ION GRAPHITE FINISHES FIRST FOUR DRILL HOLES AT THE CHEDIC GRAPHITE PROJECT, NEVADA
Any future drilling focused on establishing grade is recommended to be undertaken using reverse circulation drilling. The sample recovery for hole 3 averaged approximately 48%. Graphite is a soft mineral that is easily eroded and it is interpreted that this is the reason for the consistently lower assay results between the two drilling methods.
President & CEO John Roozendaal states: “Management is reviewing the findings and will announce its plans for the project when its review is completed. The results of the drill program are positive in demonstrating there appears to be good correlation between the geophysical anomaly and graphite mineralization, over the 500 m strike length of the anomaly that was drill tested in this program. The drilling also shows that sample recovery is low when using a diamond drill system and therefore any future drilling will use an RC drill, where establishing grade is the priority. The diamond drill core showed that the mineralization is in sedimentary layers within a volcanic host rock and drill core samples also show that the rock is intensely fractured and so gives us a better understanding of the host rock and some of its physical properties for future planning.”
Results from the drill holes is reported in the tables below.
|Drill #||WGS 84 ZONE 11||AZIMUTH||INCLIN||TD|
|CH – 1||257980||4335475||200||-46||220|
|CH – 2||257716||4335572||187||-46||210|
|CH – 3||257905||4335502||193||-50||171|
|CH – 4||257979||4333422||249||-44||420|
|CH – 5||257434||4335454||298||-45||200|
|COMPARISON OF HIGHER GRADE INTERVALS: CORE VS. REVERSE CIRCULATION|
|TYPE||DRILL HOLE||INTERVAL||C%||TYPE||DRILL HOLE||INTERVAL||C%|
This news release has been reviewed and approved by William Feyerabend CPG., who is the Company’s qualified person as defined by National Instrument 43-101.
About Global Li-Ion
Global Li-Ion Graphite is an exploration and Development Company focused on the acquisition and development of Graphite projects with an intent to supply the rapidly growing energy storage industry. Each Li-Ion Battery requires Graphite, Lithium, Cobalt and nickel. Global Li-Ion Graphite is actively evaluating additional projects for acquisition to build a world class Graphite supply Company.
Further information about Global Li-Ion is available under its profile on the SEDAR website, www.sedar.com, on the CSE website, www.thecse.com, and the Company’s website, www.globalli-iongraphite.com.
For Further information about the Company, please contact:
Director & Officer
Global Li-Ion Graphite Corp.
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This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks discussed in the Company’s Management’s Discussion and Analysis under the Company’s profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any particular time.