NEWS: KEX Graphitic Occurrences KENT EXPLORATION NOTES GRAPHITIC OCCURRENCES AT FLAGSTAFF WA PROJECT
Kent Exploration Inc. has commenced an evaluation of graphite potential at the company's 100-per-cent optioned and permitted Flagstaff Mountain, Washington, barite mine. The barite body is surrounded by and underlain by graphitic schist as shown by mapping and drilling in the course of the development of the barite body since 2009.
Due to short supply, graphite has become a strategic material. The United States Geological Survey in its most recent pricing survey notes that graphite prices for 2012 ranged from $329 (U.S.) ton for amorphous graphite to $1,990 (U.S.) per ton for flake, lump and chip graphite. For higher-purity graphite, prices range up to $3,000 (U.S.) per ton.
Pyrite-bearing graphitic schist at Flagstaff Mountain appears to underlie and may be interbedded with the sedimentary barite. These and other layers are distributed in a complex tight north-south syncline. The graphitic unit may be on the order of a few hundred feet thick west of the barite and fewer than a hundred feet east of the barite. A number of historical assays of the graphitic schist give organic carbon contents as high as 3.85 per cent. The company notes these assays are of a historical nature, are not NI 43-101 compliant and should not be relied upon.
The company president and chief executive officer, Graeme O'Neill, commented: "During our gold exploration programs, we continue to discover industrial minerals on our gold projects. We have now identified graphitic zones at both our Alexander River and Flagstaff properties. Our barite and bentonite projects bring us the potential to establish near-term cash flow. Any positive cash flow derived from operations will allow us to reduce future dilution and fund our gold exploration projects with its attendant upside."
The Flagstaff project is fully permitted for mining, with the property being serviced by an excellent access road, and is approximately 10 miles from the town of Northport, Wash., which has all required support facilities, including rail access. The company intends to quarter the existing half core from the prior drill programs and submit it for analysis for graphite content and quality.
In the event that the graphite is of sufficient quality and as the property is fully permitted for mining, the company intends to ascertain whether the graphite has the potential for mining, possibly as an adjunct to any mining of the historical barite deposit.
The company is awaiting results of graphite assays on the Alexander River project that have been submitted to SGS Laboratories for analysis.
Work on Flagstaff Mountain is under the direction of Dr. Clay Conway, PGeol, a director of the company, a qualified person as recognized by NI 43-101.
The contents of this news release have been reviewed and approved by Dr. Conway.