OTTAWA, ONTARIO -- (Marketwire) -- 06/29/12 -- Focus Graphite Inc., (TSX VENTURE: FMS)(OTCQX: FCSMF)(FRANKFURT: FKC) "the Company," is pleased to announce the start of its 2012 infill and exploration drilling program at it's Lac Knife, Quebec graphite property.
Some 5,000 meters of infill drilling is planned with the aim of upgrading its existing inferred resource to indicated resource. An additional 2,500 meter exploration drill program is designed to test a number of targets outside the existing resource on the Lac Knife property, including immediate lateral extensions of the deposit.
The results of the 5,000 meter program will be used to revise and upgrade the company's 4.9 million tons at 15.8% Cgr indicated (Carbon as graphite) and 3.0 million tons at 15.6% Cgr inferred NI 43-101 compliant resource estimate published in December 2011.
The 2,500 meter exploration drill program will test high priority surface graphite prospects identified from historic information and geophysical EM anomalies in the Southern lateral extension of the deposit.
"Based on the historic, early exploration information we inherited from Lac Knife's previous owners, there are clear indications our property may hold substantially larger volumes of graphite than our deposit holds," said Gary Economo, President and CEO of Focus Graphite.
"Lac Knife deposit remains open in all directions and at depth and we anticipate that our drilling will permit us to upwardly revise our resource estimate at the end of the program," he said.
Focus Graphite Vice President, Exploration, Mr. Tony Brisson, is the Qualified Person, as defined by National Instrument 43-101 and has approved this news release.
About Focus Graphite
Focus Graphite Inc. is an emerging mid-tier junior mining company, a technology solution supplier and a business innovator. It is the owner of the highest-grade (16%) technology graphite resources in the world. The company's goal is to assume a dominant industry leadership position by becoming the lowest-cost producer of technology-grade graphite. As a technology-orientated enterprise with a view to building long-term, sustainable shareholder value, Focus Graphite is invested in the development of graphene applications and patents through Grafoid Inc.
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.
Contacts:
Gary Economo
President and Chief Executive Officer
613-691-1091, ext. 101
geconomo@focusgraphite.com
