Exploration Program At Standard Mine Continues Intersects With Zone Expansion

Exploration Program At Standard Mine Continues Intersects With Zone Expansion

VANCOUVER – Graphano Energy Ltd. reported on the winter drilling program at its Standard Mine Project. The primary focus of the drilling program was on graphite zone expansion, following up on the excellent results from the 2022-23 trenching and drilling programs.

Graphano owns four graphite properties, which are all within trucking distance of the former mine and mill site at the Company’s Lac-Aux-Bouleaux Project (LAB). Graphano has a deposit consolidation strategy to feed a centralized processing facility at LAB. The continued exciting results from Standard, historically defined graphite mineralization at the LAB Pit Zone, and the new 2023 Zone 3 discovery also at LAB reinforce the economic potential of this consolidation strategy.

Luisa Moreno, Chief Executive Officer, said, We are extremely encouraged by the substantial thicknesses of high-grade graphite mineralization returned from these initial holes of our deposit expansion drill program at Standard. With our deposit consolidation strategy, we are committed to unlocking value in the graphite sector through continued exploration and development efforts.”

Drill Hole ST23-26 intersected 9.79% graphitic carbon (Cg) over 18.84 metres (m) starting at 72.39m drilled depth. Drill Hole ST23-17 intersected 11.88% Cg over 13.32m at 28.61m, including 14.44% Cg over 8.68m at 31.13m. The previous holes: Drill Hole ST23-10 intersected 5.11% Cg over 20.5m starting at 39.0m drilled depth, including 6.7% Cg over 9.0m at 41m; and Drill Hole ST23-11 intersected 7.44% Cg over 13.0m at 31m.

The six drill holes were drilled as step outs to extend the mineralization discovered by Graphano in early 2023 (holes ST23-10 & 11) on the eastern graphite trend at Standard. Holes ST23-17, 25 and 26 indicate a northwesterly dipping mineralized zone averaging 14 m in drilled thickness. Holes ST23-32, 18 and 29 evaluated the strike length extension of this zone and encountered significant graphite mineralization over an approximate strike length of 150 m. The mineralization remains open in both the strike and dip directions for continued expansion. Select samples from the 17 holes drilled from Standard were submitted for assay analysis. A total of 1,991m were drilled during the program.