VANCOUVER, BRITISH COLUMBA–(Marketwired – March 16, 2016) – CKR Carbon Corporation (“CKR” or the “Company”) (TSX VENTURE:CKR)(FRANKFURT:CB8) is pleased to announce that it has entered into a preliminary arrangement to supply graphitic rock from the Aukam project in Namibia to a vertically integrated graphite producer.
Up to 5,000 metric tonnes of graphitic material grading between 40 and 50% Cg (carbon as graphite) will be delivered over the course of the next year under the terms of the letter of intent. It is expected that a first shipment of between 2,000 and 3,000 tonnes of graphitic material will be made in July 2016, prior to which, CKR will supply a 1.6 tonne sample to allow the producer to run the material through its mill and make any adjustments necessary to treat the Aukam material on a go forward basis.
This material will result from CKR’s previously announced bulk sampling program (see news releases dated 15 January, 2016 and 4 March, 2016). During a 500 tonne bulk sampling program during 2014, the Company was able to stockpile and grade 240 tonnes of graphitic lumps with an average grade of 41.6% Cg within a range of 17.0% to 81.8% Cg.
“We are extremely pleased to commence this relationship, which is the result of months of work by our marketing team, and we can now execute the next phase of our business plan,” said Dr. Roger Moss, Chief Executive Officer of CKR. “Vein-type graphite, such as occurs at Aukam, is one of the highest grade naturally occurring forms of carbon. The highest grade sample assayed to date from the Aukam property graded 81.8% Cg, similar to the high grade graphite found in Sri Lanka.”
The Company cautions that it has not conducted an economic study and it is uncertain if the graphitic material will be found to have demonstrated economic viability. The technical content of this news release was approved by Roger Moss, Ph.D., P.Geo a qualified person as defined by National Instrument 43-101.
About the Aukam Project
CKR has an option to acquire an initial 63% in the Aukam graphite project from Next Graphite. The project is located on 96,000 acres in southern Namibia close to the port city of Luderitz. The property hosts three underground adits which were mined periodically between 1940 and 1974. Five dumps from the historical mining occur on the property and 73 samples from the lower three dumps were assayed and averaged 42% Cg.
About CKR Carbon Corporation
CKR Carbon Corporation is focused on high quality natural graphite suitable for use in lithium-ion batteries and graphite foil. We only select projects requiring small capital and a short time to market. The company is listed on the TSX Venture Exchange under the symbol CKR and has 23.7 million shares outstanding.
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
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).