TORONTO, Nov. 07, 2017 (GLOBE NEWSWIRE) -- Great Lakes Graphite Inc. (“GLK” or the “Company”) (TSX-V:GLK) (OTC PINK:GLKIF) (FWB:8GL) today announces that the Company and SRG Graphite International Inc. a subsidiary of SRG Graphite Inc., (“SRG”) (TSX-V:SRG) (collectively, the “Companies”) have executed a Memorandum of Understanding (“MoU”) whereby the Companies agree to work towards negotiating a supply agreement from SRG’s Lola Deposit located in Guinea, West Africa.
Highlights
- Great Lakes Graphite and SRG have executed a MoU regarding potential graphite supply.
- Agreement will provide the potential to expand high value product offerings.
Great Lakes Graphite and SRG have executed a MoU for Graphite Supply
Great Lakes Graphite and SRG have executed a Memorandum of Understanding that calls for the Companies to work towards establishing a potential supply agreement. The purpose of the agreement will be to provide SRG with an offtake partner and for Great Lakes Graphite to expand the number of products that can be offered to customers, thereby allowing the Company to enter new markets. The MoU specifies that the Companies will seek to negotiate an agreement for the annual supply of between 5,000 and 20,000 tons of natural flake graphite concentrate.
SRG is developing a high-quality graphite deposit in Guinea, West Africa. The Lola Graphite Deposit is located approximately 1,000 kilometers east of Conakry, the capital of the Republic of Guinea.
The first 20 meters or so of the deposit are well weathered (lateralized), freeing graphite flakes from the silicate gangue and thus allowing for easy grinding and optimal recovery of all large and jumbo flakes. The graphite mineralization continues at depth within the non-weathered sheared gneiss.
Metallurgy
- Lola graphite has favorable ash composition and the comparably low efforts required to attain high carbon grades.
- This graphite has characteristics that are suitable for highly demanding applications like lithium-ion batteries or synthetic diamonds.
- Purification testing performed was “mild” compared to the “harsh” purification usually applied for lithium-ion battery grade, thereby attesting again to the likelihood that the material will be very suitable for battery applications.
- The volatiles are low, oxidation resistance is very high and the specific surface area is in the normal range.
- The graphite from the Lola Deposit has a high bulk density (>700 g/l), typical Chinese graphite has bulk densities of 450-550 g/l for +80 mesh.
- Doftner-Anzaplan from Germany reported that bulk density, tap density, morphology, chemical purity and specific surface area of the spherical graphite product obtained from SRG’s Lola Graphite Deposit are similar to typical spherical graphite products in the market. The produced graphite concentrate is well suited for generating anode material for lithium-ion battery.
Agreement provides the potential to expand high value product offerings
Arranging for a potential source of high quality large and jumbo flake graphite will enable the Company to expand the number of high value products that can be offered to customers. Great Lakes Graphite CEO Paul Gorman said, “We are very excited to be working with SRG Graphite. They are an extremely capable group that is developing a highly attractive project. It is important to note that this relationship supplements our existing supply relationships and is not intended to replace them. Due to the indications that we are getting from customers as we progress through our product qualifications we understand that it is imperative for us to be able to demonstrate the supply chains which are required to service very large customers.”
About SRG: SRG is a subsidiary of SRG Graphite Inc., a Canadian-based company focused on developing the Lola Graphite Deposit, located in the Republic of Guinea, West Africa. SRG is committed to operate in a socially, environmentally and ethically responsible manner.
For additional information, please visit SRG’s website at www.srggraphite.com.
For more information, please contact:
SRG Graphite Inc. (SRG)
Dr. Marc-Antoine Audet, President & CEO
Tel.: (514) 726-4158
Email: ceo@srggraphite.com
About Great Lakes Graphite: Great Lakes Graphite is a Clean Technology Minerals Processing Company supplying customers with innovative, high quality value-added carbon products.
There is no significant graphite production in North America now. As pricing and demand continue to rise, Great Lakes Graphite is one of the first new domestic suppliers to a growing regional customer base. We continually work to deliver products of the best quality with outstanding customer service.
The Company is party to an agreement for long-term supply of high quality natural graphite concentrate from Brazil (see news release dated 03/23/15). Great Lakes Graphite is presently working with an established US-based processor for toll micronization services. The Company has partnered with Ashland Advanced Materials for commercial-scale purification operations at Ashland’s 110,000 square foot purification facility located in Niagara, New York.
Through our partner relationships, Great Lakes Graphite began selling micronized synthetic graphite beginning in 2016 and now supplies micronized and high purity micronized natural flake graphite products to a growing customer base.
Further information regarding Great Lakes can be found on the Company’s website at: www.GreatLakesGraphite.com.
Great Lakes Graphite trades with symbol GLK on the TSX Venture Exchange and currently has 125,656,830 shares outstanding.
For more information, please contact:
Paul Ferguson
Chief Marketing Officer
Email: PFerguson@GreatLakesGraphite.com
1-800-754-4510 x106
Paul Gorman
Chief Executive Officer
Email: PGorman@GreatLakesGraphite.com
1-800-754-4510 x109
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward Looking Information: Certain statements in this press release may constitute "forward looking information" which involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking information. When used in this press release, such forward looking information may use such words as "may'', "will'', "expect'', "believe'', "plan'' and other similar terminology. Forward looking information is provided for the purpose of presenting information about management's current expectations relating to the future events and the operating performance of the Company, and readers are cautioned that such information may not be appropriate for other purposes. The forward looking statements involve a number of risks and uncertainties. These risks and uncertainties include, but are not limited to, the ability of the Company to fulfill the orders and future orders, regulatory requirements, general economic, market or business conditions and future developments in the sectors of the economy in which the business of Great Lakes operates. The foregoing list of factors is not exhaustive. Please see the Company's financial statements, MD&A and other documents available on www.sedar.com, for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.