MONTREAL, Jan. 23, 2018 (GLOBE NEWSWIRE) -- SRG Graphite Inc. (TSXV:SRG) (“SRG” or the “Company”) today announced the resumption of activities at the cobalt-nickel-scandium project, known as the Gogota deposit at the Company’s Lola Project in Guinea. SRG will be resuming activities on the Gogota deposit and expects to file a National Instrument (“NI”) 43-101 compliant maiden mineral resource estimate in H1 2018.
SRG acquired the Lola project from Sama Resources in a transaction in 2016. The Gogota deposit was discovered during a regional exploration program carried out over portions of the Lola project in 2013 (reference Sama Resources’ press release dated March 7, 2013).
Of the 51 vertical drill holes carried out over the Gogota Deposit, 31 were drilled over a 200-meter by 400-meter grid and 20 were drilled over a 200-meter by 200-meter grid. The first phase of samples from 31 drill holes representing 800 samples were sent for analysis and returned significant cobalt (“Co”), nickel (“Ni”), and scandium (“Sc”) results, among others. The second phase of 20 drill holes representing 425 samples, which are still pending, have been sent to the lab for analysis.
“We are very optimistic about the potential of the Gogota deposit,” said Marc-Antoine Audet, President and Chief Executive Officer, SRG. “We are looking forward to receiving the additional results and moving forward with the maiden resources.”
Combined Mineralized Interval Highlights (True Widths)
| HOLE-ID | From* | Length | Co | Ni | Sc | Fe | MgO |
| (m) | (m) | (%) | (%) | (g/t) | (%) | (%) | |
| GG34-800400 | 15.50 | 5.50 | 0.18 | 0.75 | 37.28 | 45.90 | 0.26 |
| GG34-800800 | 2.00 | 18.20 | 0.19 | 1.43 | 45.06 | 52.19 | 0.38 |
| GG34-800200 | 3.70 | 13.50 | 0.22 | 1.27 | 29.18 | 51.32 | 0.48 |
| GG35-400600 | 4.00 | 20.80 | 0.15 | 1.41 | 29.62 | 53.42 | 0.60 |
| GG35-400800 | 5.00 | 14.50 | 0.13 | 1.30 | 33.11 | 51.24 | 0.42 |
| GG45-400200 | 6.00 | 10.00 | 0.13 | 1.19 | 30.00 | 48.02 | 0.33 |
| GG44-800400 | 8.00 | 3.00 | 0.17 | 1.28 | 35.30 | 52.03 | 0.62 |
| GG25-400200 | 4.00 | 14.50 | 0.18 | 1.52 | 31.73 | 53.29 | 0.30 |
| GG25-400400 | 12.50 | 20.00 | 0.17 | 1.53 | 24.77 | 49.87 | 0.37 |
| GG25-400600 | 7.00 | 16.00 | 0.16 | 1.36 | 29.88 | 50.14 | 0.76 |
| GG25-400800 | 8.00 | 17.80 | 0.16 | 1.25 | 24.50 | 50.90 | 0.69 |
| GG35-400200 | 1.50 | 6.90 | 0.13 | 1.58 | 40.30 | 44.14 | 2.73 |
| GG35-400400 | 3.00 | 1.50 | 0.11 | 0.90 | 33.84 | 27.56 | 3.00 |
| GG24-800800 | 2.10 | 12.00 | 0.24 | 1.16 | 32.63 | 48.08 | 0.49 |
| GG24-400800 | 15.00 | 3.00 | 0.17 | 1.53 | 37.50 | 48.63 | 1.12 |
| GG24-800600 | 6.00 | 23.00 | 0.18 | 1.27 | 39.14 | 51.63 | 0.40 |
| GG24-800400 | 5.50 | 12.50 | 0.16 | 1.42 | 31.20 | 50.25 | 1.18 |
| GG34-800600 | 0.00 | 14.10 | 0.17 | 1.39 | 23.95 | 48.09 | 0.61 |
| GG44-800200 | 0.90 | 4.40 | 0.21 | 1.27 | 31.49 | 50.04 | 0.84 |
| GG34-400200 | 4.00 | 2.50 | 0.14 | 1.16 | 30.00 | 42.41 | 0.92 |
| GG34-400400 | 3.00 | 8.00 | 0.18 | 1.19 | 36.25 | 49.11 | 0.80 |
| GG25-200400 | 8.50 | 14.00 | 0.21 | 1.45 | 36.43 | 49.57 | 0.45 |
| GG25-200200 | 8.00 | 7.50 | 0.18 | 0.70 | 38.70 | 42.37 | 1.73 |
| GG25-200600 | 2.30 | 7.40 | 0.15 | 0.95 | 38.91 | 41.86 | 0.58 |
*Measurements begin at surface.
Mineralized intervals defined using 0.10% cobalt cut-off grades.
Fe: Iron, MgO: Magnesium oxide, g/t: grams per tonne
Core logging and sampling were performed at SRG’s facility in Gogota village. Sample preparations were performed by Bureau Veritas Mineral Laboratory’s facility in Abidjan, Ivory Coast (“BVML”), and then dispatched by BVML directly to their assay laboratory, Inspectorate Metals and Minerals, in Rustenburg, South Africa. All samples were assayed for cobalt, nickel and all major oxides using peroxide fusion XRF. Scandium was determined by inductively coupled plasma optical emission spectrometry.
Compilation maps of Gogota are available on the Company’s website or via the following links.
The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, P.Geo, President and CEO, SRG and a 'qualified person' as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
ABOUT SRG
SRG is a Canadian-based company focused on developing the Lola graphite deposit located in the Republic of Guinea, West Africa. SRG is committed to operating in a socially, environmentally and ethically responsible manner.
