GRPH News: Graphite Corp. Increases Land Position to 1700 Acres in Montana. Company Continues to Pursue Graphite Prospective Leases Throughout Surrounding Area
ELKO, NV, (http://www.financialnewsmedia.com News Alert) -- Graphite Corp. (OTCQB: GRPH) (\"Graphite Corp.\" or the \"Company\"), an exploration stage company focused on the evaluation, acquisition and development of domestic graphite mining opportunities, wishes to announce the acquisition of additional mineral claims in the area of its Crystal Mine project in Montana.
A total of 83 claims totaling approximately 1,600 acres adjacent to Graphite Corp.\'s previously leased mineral rights have been staked on Bureau of Land Management ground giving the Company lode mineral claims across a property position which now approximates 1,700 total acres.
Concurrent to the claim staking efforts, a preliminary study of the mineralization on the property was conducted. The presence of graphite was recorded both in outcrop and in dumps and stockpiles of historically processed ore. Several samples of amorphous graphite were collected near historical workings. The study confirmed that the foliation of the highly metamorphosed rocks strikes approximately west-southwest and dips 70 degrees to 80 degrees to the north-northwest with some local variation. Graphite occurs as veins and fracture coatings in pegmatite that is mostly discordant to regional foliation.
Based on preliminary findings and ongoing review of available historic data for the region, the Company plans to move ahead with plans to commence exploratory efforts ultimately targeting a project assessment including scope of the graphite mineralization as well as an early stage production feasibility study on the newly acquired ground. Graphite Corp. further intends to continue the pursuit of other surrounding leases in order to assemble a land position encompassing what is believed to be potentially significant contiguous graphite prospective resource.
Company President Brian Goss states, \"We are very pleased to announce our latest acquisition which considerably strengthens our growing property position and locks up the most important lands in the area. These new mineral claims are 100% controlled by us and this aggressive expansion is indicative of our overall exploration strategy for the property.\"
Additional details of the Company\'s business, finances, appointments and agreements can be found as part of the Company\'s continuous...