Graphano Energy (TSXV: GEL) (OTCQB: GELEF) (FSE: 97G0) announced Wednesday it has staked an additional 20 mining claims on the western side of its existing 100% owned Lac-Aux-Bouleaux (LAB) project in Quebec.
The new claims more than double the holdings comprising the LAB project. Originally, the LAB claims consisted of 16 units covering just over 840 hectares (Ha). With the new claims (1,187.13 Ha), the total area now encompasses 36 claims over 2,028 Ha, the company said.
Lac-Aux-Bouleaux is adjacent to south of Northern Graphite’s Lac des Iles mine, the only operating graphite mine currently in North America.
In April, Graphano reported initial assay results from the 2023-24 winter drilling program on Zone 3 at LAB, intersecting 6.33% graphitic carbon (Cg) over 13.82 metres (m) starting at 38.23m drilled depth; and 5.75% Cg over 14.42m at 53.58m drilled depth, including 7.64% Cg over 7.64m at 53.58m.
The stratigraphy and geology are similar to the original LAB project claims and the Lac des Iles mine, the company said, adding that the new claims’ area remains largely unexplored.
Graphano was a former subsidiary of Manganese X Energy (TSXV: MN) but was spunout in 2020 to become an independent public company to explore the LAB property.
LAB is accessible through provincial highway 117 then following secondary roads 309 and 311. The town of Mont-Laurier is located about 20 kilometres to the north and Montréal 150 kms to the southeast of the property.
Graphano has staked two sets of additional graphite claims, 5 km and 10 km south from the Lac Aux Bouleaux project. A total of 11 claims covering 600 hectares were staked and comprise the Dudley and Lac Vert-Bouthillier graphite showings.
“We are pleased to have extended our LAB claims, significantly enhancing our exploration potential in the area,” Graphano CEO Luisa Moreno said in a news release.
“The LAB region, home to an historical graphite mine and adjacent to the operating Lac-des-Iles mine, is the only graphite-producing area in North America,” Moreno said. “Our exploration results at the LAB project have been very promising, reinforcing our commitment to expanding our footprint in this region.”
Source: MINING.COM – Read More
