Focus Graphite Retains Met-Chem to Complete A Feasibility Study and Mine Closure Plan for Lac Knife Graphite Project
04 Novembro 2013 - 3:41PM
Marketwired Canada
Focus Graphite Inc. ("Focus" or the "Company") (TSX
VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) is pleased to announce it has retained
the services of Quebec-based Met-Chem Canada Inc. ("Met-Chem") to complete a
Feasibility Study and Mine Closure Plan to bring the Lac Knife graphite project
closer to a production decision.
The contract was awarded to Met-Chem following a competitive request for
proposal ("RFP") process where highly qualified national and international
engineering firms were invited to tender.
The Feasibility Study scope of work involves a comprehensive review of all
project characteristics - from process validation to capital costs, operational
costs, and basic engineering leading to the detailed engineering, marketing,
environmental, health & safety, and other considerations in order to further
validate and integrate the various technical aspects of the project. The
Feasibility Study is expected to be completed during the summer of 2014.
With an Environmental and Social Impact Assessment well underway, definition
drilling completed, assays received, and recent pilot plant test results in
hand, the Company deemed the Lac Knife project ready to move to the feasibility
phase.
With the launch of the feasibility study, the Focus development team along with
Met-Chem will plan, schedule, and budget the design, construction, and
commissioning of this project to bring Lac Knife's high quality graphite
concentrate to the market. The feasibility level of design is intended to
provide a higher level of accuracy to the capital and operating costs required
to finance, build and operate the mine.
Don Baxter, P.Eng. President and COO of Focus Graphite, stated: "My mandate upon
joining Focus is to accelerate the process to bring the Lac Knife development
project to a production decision."
"Considering the amount of work already completed at Lac Knife, including the
recent completion of the Pilot Plant operation with extremely positive results
showing large flake concentrate grades reaching 98.3% Ct from an optimized
flotation and polishing circuit, it was decided to commence the feasibility
study immediately," Mr. Baxter said.
He added that a full Mine Closure Plan is included in the scope of work in order
to have this required step expedited before arriving at a construction decision.
"The first priority of the study will be to plan and schedule tasks to
prioritize and initiate de-risking initiatives in order to accelerate the
project timeline," Mr. Baxter said.
About Focus Graphite
Focus Graphite Inc. is an emerging mid-tier junior mining development company, a
technology solutions supplier and a business innovator. Focus is the owner of
the Lac Knife graphite deposit located in the Cote-Nord region of northeastern
Quebec. The Lac Knife project hosts a NI 43-101 compliant Indicated Mineral
Resource Estimate(i) of 4.9 million tons grading 15.8% graphitic carbon (Cgr) as
crystalline graphite with an additional Inferred Mineral Resource Estimate(i) of
3.0 million tons grading 15.6% Cgr of crystalline graphite. Focus' goal is to
assume an industry leadership position by becoming a low-cost producer of
technology-grade graphite. On October 29th, 2012 the Company released the
results of a Preliminary Economic Assessment ("PEA") of the Lac Knife Project
which indicated that the project has a very positive potential to become a
graphite producer. As a technology-oriented enterprise with a view to building
long-term, sustainable shareholder value, Focus also invests in the development
of graphene applications and patents through Grafoid Inc.
(i) Mineral resources are not mineral reserves and do not have demonstrated
economic viability
About Met-Chem Canada, Inc.
Met-Chem Canada Inc. (Met-Chem) is an international consulting engineering
company that provides a comprehensive range of technical services, which extend
from exploration programs through conceptual and feasibility studies, mine
development and production, to facility closure stages within the mining,
mineral processing and infrastructure industries. With headquarters in Montreal,
Quebec, Met-Chem is a wholly owned subsidiary of UEC Technologies LLC which is
part of United States Steel Corporation in Pittsburgh, Pennsylvania. Met-Chem
was originally established in 1969, to design and construct the Mount Wright
Iron Ore facilities for Quebec Cartier Mining Company. Since then, Met-Chem has
been providing expert advice to clients in over 30 countries worldwide involving
iron ore, pelletizing, steel, industrial minerals, precious metals, base metals,
PGM, bauxite and coal. Met-Chem is a multi-disciplinary engineering company
comprised of engineers and technicians in geology, mining, metallurgy and
process, civil, structural, mechanical, piping, HVAC, electrical and
instrumentation/automation. It also has the necessary support staff in project
controls, procurement, estimating, scheduling and administration. Independent of
the project scope, Met-Chem provides the project management staff with the
autonomy and resources to serve the client in the most effective manner
emphasizing client participation in all phases of a project in order to ensure
client satisfaction. Met-Chem is committed to conducting its business in an
ethical and lawful manner. The reputation of Met-Chem is a valuable business
asset, and ethical and legal conduct at all levels of our business is essential
for our continued success. Met-Chem achieves and maintains the highest standard
of safety & industrial hygiene and committed to delivering projects within cost
and on schedule.
The quality management system of Met-Chem is certified under ISO 9001:2008.
This news release has been reviewed by Don Baxter, P.Eng, President and COO of
the Company and a Qualified Person under National Instrument (NI) 43-101
guidelines.
Forward Looking Statements - Disclaimer
This news release may contain forward looking statements, being statements which
are not historical facts, and discussions of future plans and objectives. There
can be no assurance that such statements will prove accurate. Such statements
are necessarily based upon a number of estimates and assumptions that are
subject to numerous risks and uncertainties that could cause actual results and
future events to differ materially from those anticipated or projected.
Important factors that could cause actual results to differ materially from the
Company's expectations are in our documents filed from time to time with the TSX
Venture Exchange and provincial securities regulators, most of which are
available at www.sedar.com Focus Graphite disclaims any intention or obligation
to revise or update such statements.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Focus Graphite Inc.
Mr. Don Baxter, P.Eng
President and Chief Operating Officer
705-789-9706
dbaxter@focusgraphite.com
www.focusgraphite.com
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