Canada Carbon Files NI 43-101 Report on SEDAR
January 27th, 2017, Vancouver, BC, Canada – Canada Carbon Inc. (the “Company”) (TSX-V:CCB), (FF:U7N1) reports that it has filed on SEDAR the National Instrument (“NI”) 43-101 report of the updated Mineral Resource Estimate for its flagship 100% owned Miller Graphite Project located 80 kilometres (“km”) west of Montréal, near Grenville, Québec. (See Company news release dated December 14th, 2016 for full details.)
The Resource Estimate was prepared pursuant to Canadian Securities Administrators’ N I 43-101 by the independent firm SGS Canada Inc. (“SGS”) of Blainville, Quebec. The updated Resource Estimate includes an indicated resource of 2.65Mt (“million tonnes”) with an average grade of 0.80% graphite, and an inferred resource of 7.56Mt with an average grade of 0.77% graphite, within the boundaries of an optimized open pit mine model. The cut off grade for the Mineral resources was established at 0.50% graphite. The new pit constrained graphite resources have increased by 379% compared to what was reported in the Company’s Miller Project Preliminary Economic Assessment, filed to SEDAR on April 14th, 2016. A cross section figure of the pit is available on Canada Carbon’s website (https://www.canadacarbon.com/images/CCBCrossSection.jpg).
Mineral Resource Estimation Parameters
The Mineral Resources were estimated by Jean-Philippe Paiement, P.Geo., M.Sc., of SGS with an effective date of November 23, 2016. This estimate is the second Mineral Resource Estimate produced by Canada Carbon since the acquisition of the Miller property in September 2013. The Mineral Resources were estimated using the following geological and resource block modeling parameters which are based on geological interpretations, geostatistical studies and best practices in mineral estimation:
Graphite Mineral Resources
TABLE 1: PARAMETERS USED TO MODEL OPTIMIZED GRAPHITE RESOURCES
Cautionary Note: Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There is no guarantee that all or any part of the Mineral Resource will be converted into a Mineral Reserve. Inferred Resources are considered too geologically speculative to have mining and economic considerations applied to them and to be categorized as Mineral Reserves (as defined in NI 43-101). Additional trenching and/or drilling will be required to convert Inferred Mineral Resources to Measured or Indicated Mineral Resources. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
MILLER PROJECT OVERVIEW
The 100%-owned Miller Graphite and Marble Project is located in the Outaouais Region of southern Québec, Canada, about 80 km west of Montréal, Québec and 90 km east of Ottawa, Ontario. The closest cities are Grenville, Québec (5 km to the south) and Hawkesbury, Ontario (8 km to the south). The property is easily accessible from Highway 50, which runs approximately 2 km to the south of the Project boundary, and Scotch Road, which traverses the property from south to north. A wide range of services are available locally in the town of Grenville and at the nearby cities of Hawkesbury or Lachute. Project-specific services such as tree cutting, excavating, drilling, and blasting are available from local operators. Other required services including emergency response, equipment maintenance shops, transport companies, mobile electricians, mobile mechanics, security firms, IT firms, engineering, environmental and geological consultants, restaurants and a variety of housing options are all available near the property. The local skilled labour force is capable of supporting a mining operation. A power line crosses the southern part of the property and a railroad runs parallel to Highway 50, near Grenville. The Project is 90 km via paved highway from the container port at Montreal.
Mr. Jean-Philippe Paiment, P.Geo., M.Sc., from SGS Canada Inc., an independent Qualified Person as defined by National Instrument 43-101 guidelines, and has reviewed and approved the technical related content of this news release.
CANADA CARBON INC.
CEO and Director
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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).