Torch River's Walker Lump/Vein Graphite Property Composite Grab Sample Yields Grades As High As 89.5% Cg in First Sampling Program
OAKVILLE, ONTARIO -- (Marketwired) -- 07/11/13 -- Torch River Resources Ltd. ("Torch" or the "Company") (TSX VENTURE:TCR)(FRANKFURT:WNF)(PINKSHEETS:TORVF), is pleased to announce the results of its first grab sampling program on its Walker lump/vein graphite property located approximately 100 km west of Montreal. The Company's geologist, Ms. Isabelle Robillard, P. Geo., Qualified Person, recently carried out a site visit to collect the initial composite grab samples. The team directly assessed the visible graphite veins and extracted samples taken along the various veins. The purpose of the program was to assess the potential for high grades encountered across this mineralization region.
Based on subsequent analysis conducted by Activation Laboratories Ltd. (Actlabs) of Ancaster, Ontario using the IR process (Leco), the results confirmed the presence of a high quality lump/vein graphite mineralization. Ms. Robillard commented on the results as follows: "Graphite occurrence was observed during recent fieldwork (2013-06-21) from an ancient shallow exploitation pit on an easily accessible part of the property. The old pit and adjacent waste rocks pile exposed at least two sets of intersecting graphite veins, with thickness ranging from 2 to 10 cm. Vein material was sampled and sent to Actlabs in Ancaster. The laboratory returned the graphite assay value (89.5% Cg) that is reported here. One of the veins was followed at surface for at least 6 meters along strike and many small mine pits and trenches were found in the immediate area, indicating the presence of more graphite mineralization."
Paul Ogilvie, Chief Executive Officer of Torch commented, "We are very pleased with the grade of 89.5% Cg as is in line with lump graphite properties in Sri Lanka. The results are very encouraging as we work towards building a 100% lump graphite company. Our next steps will be to analyse the purity and upgrade the material to the highest purity possible, toward the 99.9 % Cg goal."
He also commented: "In the race to bring a new North American graphite property into production it is clear to us that these results confirm the value of our plans to rapidly develop into a lump graphite producer. We believe the presence of high grades such as those outlined today represent a competitive advantage, particularly in terms of the costs required to build (capex) mineral processing facilities and recover and refine (opex) product. Add to that the fact that lump graphite has a wide array of market applications and the result is a belief that we can quickly move out front in the effort to build a new North American graphite production mine and facility."
Subsequent work on the Walker property is immediately planned and will comprise a more complete sampling program, and structural analysis of the exposed vein system. Detailed prospecting with the use of Beep-Mats will also be used on the lateral extension of the vein systems. This coming phase will allow a better understanding of the mineralization and of geophysics methods that can be used to explore and discover graphite veins on the Walker property. In this regard, Torch River Resource's Qualified Person and P. Geo Isabelle Robillard further commented: "We are confident that follow-up works will result in the discovery of further occurrences of high-grade graphite and will significantly improve exploration techniques for the particular context observed at the Walker property which consists of very rich lump graphite veins."
Lump graphite typically has grades from 50% to 95%, with an average grading in the 65% to 80% range. Grades of this sort are not unusual in deposits such as those mined in Sri Lanka. As such they offer the potential to direct ship product to an upgrade facility with limited primary processing. This also permits processing to high purity levels up to 99.9% Cg to be much more cost effective as well. The combination of low costs and market prices for lump graphite make it a strategically sound business model in the emerging natural graphite sector.
ABOUT LUMP/VEIN GRAPHITE
Lump or Vein graphite is considered to be one of the rarest, commercially valuable, and highest quality types of natural graphite. It occurs in veins along intrusive contacts in solid lumps and is only actively mined in Sri Lanka (Mores, 2007). Given the carbon content typically found with lump/vein graphite recovery operations and costs will normally be lower than flake or amorphous graphite recovery. Lump graphite processing techniques can include everything from hand sorting of large concentrated samples to standard crushing, grinding, froth flotation and milling. Lump/vein graphite is suitable for many of the same applications as flake graphite giving it a distinct competitive edge in terms market prices and product applications.