Mason Graphite Announces Positive Drill Results including 31 meters at 24.3 % Cgr and 113 meters at 15.5 % Cgr
http://www.stockhouse.com/companies/stories/v.llg/8749987
MONTREAL, Feb. 28, 2013 /CNW/ - Mason Graphite Inc. ("Mason Graphite" or the "Company") (TSX.V: LLG) reports assay results for 36 new drill holes (6,830 meters) from the mineral resource expansion program at its Lac Guéret project in northeastern Quebec. Significant drill intercepts in this group of results include:
Hole LG-038 intersected 60 meters at 13.2% Cgr and 36 meters at 15.8% Cgr
Hole LG-039 intersected 113 meters at 15.5% Cgr (including 11 meters at 38.7% Cgr)
Hole LG-057 intersected 55 meters at 16.4% Cgr (including 16 meters at 27.1% Cgr)
Hole LG-207 intersected 44 meters at 17.1% Cgr (including 12 meters at 31.4 % Cgr) and 28 meters at 16.9% Cgr (including 13 meters at 27.2% Cgr)
Hole LG-213 intersected 26 meters at 18.1% Cgr and 63 meters at 15.4% Cgr
Hole LG-215 intersected 31 meters at 24.3% Cgr and 17 meters at 18.3% Cgr
Hole LG-227 intersected 33 meters at 13.3% Cgr and 76 meters at 12.0% Cgr
Benoît Gascon, CEO of Mason Graphite commented, "We are very pleased by the consistently high grade intercepts in this group of results. The mineralized intersections to the South, South-West and North-East of the current mineral resource demonstrate strong potential for continued growth beyond the current resource envelope and we look forward to including these results in the calculation of an upcoming mineral resource update."
The 36 assay results reported below are part of an exploration program that was initiated in July 2012 and completed last November. This drill program consisted of 163 drill holes totaling approximately 26,500 meters and was designed to delineate mineral continuity primarily in the GC zone. This zone hosts a National Instrument 43-101 mineral resource of 300,000 tonnes at 24.4% Carbon as Graphite ("Cgr") in the Measured category and 7.3 million tonnes at 20.2% Cgr in the Indicated category (see Technical Report dated July 3 2012 for details). Complete results and the corresponding collar location map are presented below. Results for the remaining 104 drill holes will be published as soon as the data is compiled.
Roche Ltd. Consulting Group, who completed the Company's National Instrument 43-101 mineral resource estimates in July 2012, has been retained to complete the upcoming mineral resource update.
Table 1 - Best drill intercepts from each of the 36 drill holes (6,830 meters)
Drill hole From
(m) To
(m) Length1,2
(m) Graphite
(Cgr %) Drill hole From
(m) To
(m) Length1,2
(m) Graphite
(Cgr %)
LG-038 39 99 60 13.2 LG-073 4 21 18 13.4
incl. 80 93 13 25.1 52 65 13 16.0
114 150 36 15.8 72 86 15 16.9
LG-039 25 35 10 15.3 141 161 20 19.5
70 183 113 15.5 LG-074 18 63 45 10.3
incl. 115 126 11 38.7 110 129 20 14.2
LG-045 17 52 35 12.2 LG-075 51 70 19 15.5
60 102 42 13.7 LG-205 4 77 72 8.7
incl. 65 75 10 22.4 LG-206 45 96 51 10.9
125 150 25 12.3 139 152 13 17.4
LG-046 73 110 37 11.5 LG-207 26 70 44 17.1
incl. 92 101 9 20.3 incl. 40 52 12 31.4
125 149 24 11.7 89 116 28 16.9
LG-057 25 89 64 10.9 incl. 100 113 13 27.2
110 165 55 16.4 LG-208 6 23 18 16.2
incl. 143 159 16 27.1 LG-209 8 22 14 9.9
LG-058 5 13 8 14.4 164 181 17 12.0
93 136 43 13.6 LG-210 22 28 7 11.0
incl. 118 130 12 25.7 LG-211 4 11 7 11.1
165 176 11 14.2 LG-212 No significant mineralization
LG-059 58 68 10 9.2 LG-213 15 41 26 18.1
83 100 16 15.3 102 165 63 15.4
LG-060 26 54 29 16.3 LG-214 57 89 32 26.5
LG-066 5 21 16 16.0 incl. 73 87 14 31.9
38 63 25 11.2 157 169 12 9.9
120 138 18 14.7 LG-215 5 26 21 13.3
LG-067 81 106 25 19.2 34 65 31 24.3
LG-068 15 36 21 10.3 incl. 47 65 19 30.9
LG-069 28 76 48 12.6 171 188 17 18.3
incl. 29 37 8 27.3 202 218 16 16.1
119 131 12 12.5 LG-216 4 27 22 10.2
LG-070 5 23 18 21.0 169 175 6 22.7
29 37 8 12.4 LG-217 No significant mineralization
42 49 7 21.6 LG-218 No significant mineralization
92 138 46 12.6 LG-227 50 82 33 13.3
LG-071 26 35 10 14.3 110 186 76 12.0
182 188 7 12.2 incl. 132 149 17 22.5
LG-072 9 29 20 17.6 LG-228 43 89 46 13.9
45 77 32 10.5 incl. 60 70 10 28.6
83 108 25 16.1 LG-229 44 68 24 12.5
145 165 20 14.7 75 96 21 10.7
LG-230 36 65 29 16.1