we're looking forward to Gratomic's (PFS)
September 7, 2021
Toronto, ON. September 7, 2021 Gratomic Inc. (“Gratomic”, “GRAT” or the “Company”) (TSX-V: GRAT) (OTCQX:CBULF) (Frankfurt:CB82) announces that the Company has commenced an independent Prefeasibility Study (“PFS”), alongside providing an operational update on the commissioning progress currently underway at the Company’s flagship Aukam Vein Graphite Project in Namibia. The PFS has been undertaken by Process Research Ortech Inc., based out of Mississauga, Ontario, Canada. The PFS to date has been able to independently verify that Aukam Graphite is capable of being upgraded without any chemical or heat treatment to a grade of 99.38% Cg. Gratomic has also begun construction and extensive testing on Gratomic TM coin cell batteries using graphite sourced from the lower adit of the Aukam graphite project and prepared by Ortech to 99.81% Cg. The Company will be assisted by Robert Rice, the inventor and provisional patent-owner of the air-classification system that is being used in conducting the non-chemical refining process that is intended to upgrade the graphite concentrate from 99.38 to 99.98 %Cg for the purpose of achieving battery grade material. David Salari has been brought on board alongside Rice in order to assist the Company’s completion of the PFS and assist the company in final preparation of the refining circuit.
“Day after day our team at Aukam shows their resilience and determination towards finalizing the processing plant. I am also very happy with the support we continue to obtain from our key partners. The project development continues as planned,” said Armando Farhate, COO and Head of Graphite Marketing and Sales
The Company chose to prioritize the completion of a PFS over a preliminary economic analysis based on the high level of confidence already established in the Aukam project. This confidence is instilled based on the high level of engineering and current commissioning underway. This is further substantiated by the report entitled “Technical Report on the Aukam Graphite Deposit, Bethanie District, Karas Region, Namibia” dated September 12, 2016 and prepared by Roger Moss, Ph. D, P. Geo, and the current infill drilling program at the Aukam Mine site. The successful completion of the PFS will serve as an economic basis to assure shareholders and the public of the merits, derived from real data, of the Aukam Graphite Project. The Company intends to release the PFS in late 2021 and a maiden National Instrument (NI) 43-101 resource estimate in Q1 2022.