Kingston, Ontario, March 15, 2022 – Focus Graphite Inc. (TSX.V:FMS; OTCQX:FCSMF; FRANKFURT:FKC) (“Focus” or the “Company”) is pleased to report the start of a first phase of 3,000 m of exploration drilling at its 100%-owned Lac Tétépisca graphite project, located southwest of the Manicouagan Reservoir in the Côte-Nord administrative region of Québec on the Nitassinan of the Pessamit Innu.
The new drilling program will test two high priority graphitic targets at the Lac Tétépisca project, “Southwest MOGC” and “West Limb”. The Southwest MOGC target encompasses the southwestern extension of the linear kilometre-scale ground geophysical Magnetic (MAG) – Electromagnetic (“EM”) anomaly which hosts the Company’s recently announced Manicouagan-Ouest Graphitic Corridor (“MOGC”) flake graphite deposit (Figure 1). On February 17, 2022, Focus announced a pit-constrained Indicated resource of 59.3 Mt tonnes (“Mt”) grading 10.61% Graphitic Carbon1 (“Cg”) for the MOGC deposit for an estimated content of 6.3 Mt of natural flake graphite (in-situ), and an Inferred resource of 14.9 Mt grading 11.06% Cg1 for an estimated content of 1.6 Mt of natural flake graphite (in-situ) (refer to Focus news release dated February 17, 2022, available on the Company’s Web site at www.focusgraphite.com, for additional details).
Phase 1 drilling will also test the Company’s West Limb target, a second linear kilometre-scale ground MAG-EM anomaly that is parallel to the MOCG MAG-EM anomaly but is located 2 km to the West (Figure 1). Prospecting and outcrop sampling conducted by Focus along a 900 m segment of the West Limb graphitic target in 2014 returned 15 paragneiss grab samples with Cg grades ranging from 1.06% to 54.20%, nine of which graded over 16.00% Cg (Source: Focus technical reported dated May 2015, available at https://sigeom.mines.gouv.qc.ca/, under assessment work report GM 69493).
“Our primary goal for 2022 at our Lac Tétépisca project is to confirm our hypothesis that the Southwest MOGC and West Limb targets hold significant graphite mineralization potential,” said Marc Roy, President and CEO of Focus Graphite. “Both targets are close to the MOGC graphite deposit and have similar geophysical characteristics, and we interpret these as being structurally and genetically related, representing the nose and west limb of an anticline fold, respectively. By confirming our model for satellite deposits, Focus aims to demonstrate the potential to significantly expand its flake graphite resource base at its Lac Tétépisca project to take it to a world-class level.”
1The mineral resource estimate (“MRE”) was prepared by DRA Global Limited’s (“DRA”) Montréal, Québec, office. Mineral resources have been classified according to the CIM definition for classification of Indicated and Inferred Mineral Resources. A cut-off of 3.9 % Cg has been applied to disclose the estimated Mineral Resources. The effective date of the MRE is September 17, 2021 which is the date of reception of the final version of the drill hole database..
Focus has commissioned IOS Services Géoscientifiques Inc. (“IOS”) of Saguenay, Québec, to design and operate the 2022 exploration drilling programs at the Lac Tétépisca project. The Company has also retained the services of Table Jamésienne de Concertation Minière (“TJCM”) of Chibougamau, Québec, to provide independent advisory and drilling project supervision services. Drilling is being performed by Forage G4 of Val D’Or, Québec.
Mr. Marc-André Bernier, géo. (QC), P.Geo. (ON), M.Sc., Senior Geoscientist for Table Jamésienne de Concertation Minière, a consultant to the Company and a Qualified Person as defined under National Instrument (NI) 43 – 101 Standards of Disclosure for Mineral Projects has reviewed and approved the technical content this news release.
About the Lac Tétépisca Graphite Project
Focus Graphite’s 100%-owned Lac Tétépisca Graphite Project comprises two contiguous properties, Lac Tétépisca and Lac Tétépisca Nord, located in the Southwest Manicouagan reservoir area of the Côte-Nord region of Québec on the Nitassinan of the Pessamit Innu, 234 km north-northwest of the city of Baie-Comeau, an industrial city located where the Manicouagan River intersects the north shore of the St. Lawrence River. Together, the two properties form a block of 125 map-designated claims (total area: 6,737.50 ha). Focus purchased a 100% unencumbered interest of the mineral rights in the 67 CDC claims constituting the original Lac Tétépisca property from a third party in August 2011. The Lac Tétépisca Nord property was map-staked by the Company in 2012. The Lac Tétépisca Project is accessible year-round by way of a network of secondary gravel roads that extend north from Highway 389, 10 km to the south of the Manic 5 hydroelectric power station.
Additional maps of the Lac Tétépisca property showing the location of the MOGC graphite deposit, along with drill sections, are available on the Company’s website at www.focusgraphite.com.
About Focus Graphite
Focus Graphite Inc. is an exploration and development company that seeks to produce flake graphite concentrate at its wholly owned Lac Knife and Lac Tétépisca flake graphite projects located in the Côte-Nord administrative region of Québec. As part of its mission to build long-term, sustainable shareholder value, Focus is also evaluating the feasibility of producing value-added specialty graphite products, including battery-grade spherical graphite.
Focus Graphite is a technology-oriented graphite development company with a vision for building long-term, sustainable shareholder value. Focus also holds an equity position in graphene applications developer Grafoid Inc. Focus is committed to operating in a socially, environmentally and ethically responsible manner.
For more information about Focus Graphite and the Company’s Lac Tétépisca and Lac Knife projects, please visit Focus’s website at www.focusgraphite.com or contact:
Communications, Focus Graphite
CFO, Focus Graphite
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
This press release contains “forward-looking information” within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information, including references to the plans and project of the Company such as proceeding with production at the Company’s Project, proceeding with exploration activities on its permits on Lac Tétépisca. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “potential”, “high-potential”, “expected”, “optimistic”, “looking forward”, “moving forward”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would” or “might”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) fluctuations in commodity prices; (vii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (viii) competition faced by the issuer in securing purchasers, off-taker markets, clients and experienced personnel and financing; (ix) access to adequate infrastructure to support mining, processing, development and exploration activities; (x) the risks associated with changes in the mining regulatory regime governing the issuer; (xi) the risks associated with the various environmental regulations the issuer is subject to; (xii) risks related to regulatory and permitting delays; (xiii) risks related to potential conflicts of interest; (xiv) the reliance on key personnel; (xv) liquidity risks; (xvi) the risk of litigation; and (xvii) risk management.
Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration, and development plans to proceed in accordance with plans and such plans to achieve their stated expected outcomes, receipt of required regulatory approval, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company’s business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is given as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.