Ottawa, Ontario - April 5, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Northern Graphite Corporation (TSXV: NGC) (OTCQX: NGPHF) announces that additional testing has confirmed that lithium ion battery ("LiB") anode material made from concentrates from its Bissett Creek deposit meet or exceed current commercial specifications. The test work was carried out by the Beijing General Research Institute of Mining and Metallurgy ("BGRIMM"), a Chinese state owned metallurgical research and development company.
Test results indicate that the crystallinity, yield and specific surface area (5.652 m2/g for 16µ material) of the Bissett Creek material were all better than industry standards. A yield of 50 per cent was achieved on a batch basis and can potentially be increased to 70 per cent with a continuous, commercial process. The tap density was 1 g/cm3 which is comparable to existing products.
Gregory Bowes, CEO, commented that: "essentially all Bissett Creek production could theoretically be turned into a premium LiB anode material because of its outstanding crystallinity, flake size and purity, and this differentiates it from most other deposits. However, large and extra large flake concentrates are too valuable to be used in this manner." He added: "the high percentage of large and XL flake at Bissett Creek provides a strategic alternative of initially focussing on high value, high margin industrial markets rather than the battery market, which is currently very competitive and dominated by Chinese producers."
BGRIMM has commenced a second study to evaluate the Company's LiB anode material (also called spherical graphite or "SPG"), with respect to purification, coating and electrochemical performance. Purification in particular is a key step in manufacturing SPG. The tests will enable the Company to benchmark the results against its own patent pending purification technology. The Company's technology, jointly developed with Hatch Inc., potentially represents the first cost competitive, environmentally sustainable alternative to Chinese methods of manufacturing anode material for the rapidly growing electric vehicle and grid storage markets.
BGRIMM is a premier Chinese institute in the field of mining and metallurgical technology and operates directly under the Chinese Government (SASAC). It has over 4,000 employees, is headquartered in Beijing and has operations in a number of provinces including Hebei, Jiangsu, Liaoning and Hunan as well as Santiago, Chile. BGRIMM has been conducting research on graphite since the 1970s and its services include mining, mineral processing (process development, flotation and reagent optimization and equipment design), and purification and downstream processing. It has completed a number of key national projects in recent years.
About Northern Graphite
Northern Graphite is a Canadian development company with a 100% interest in the Bissett Creek graphite deposit, which is located in southeastern Canada and relatively close to all required infrastructure. The Company has completed a full feasibility study for a Phase 1 development, a preliminary economic assessment for an expansion to meet the expected growth in future demand, and has secured its major environmental permit. The Bissett Creek project has low initial capital costs, a high profit margin and low marketing risk resulting from high quality concentrates and a realistic production level relative to the size of the market.
For additional information, please contact:
Gregory Bowes, CEO (613) 241-9959
Gregory Bowes, B.Sc. MBA, P. Geo., a Qualified Person as defined under National Instrument 43-101, has reviewed and is responsible for the technical information in this news release.
This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and forward-looking information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements in this release include statements regarding, among others; the feasibility study, the preliminary economic assessment, graphite prices, project economics, permitting, the development timeline and the graphite market.
All such forward-looking statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believe are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements including, but not limited to, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of other parties to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure, the failure of exploration programs, including drilling programs, to deliver anticipated results and the failure of ongoing and contemplated studies to deliver anticipated results or results that would justify and support continued studies, development or operations. Readers are cautioned not to place undue reliance on forward-looking information or statements.
Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
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