Next Graphite Inc. (OTCQB:GPNE) has completed its bulk screening program at its Aukam Graphite Project in Namibia. The company will now move to “Part 1″ of a bulk testing phase of graphite-bearing rock contained in an estimated 140,000 tons of mine heap material at Aukam.
As quoted in the press release:
After screening 500 tons of graphitic rock from its tailing heaps during GPNE’s Bulk Screening Phase, the Company calculated a preliminary lump-to-waste ratio of 1:3. GPNE was also able to meet its goals of screening 300 tons of material in a 15 day period, with 12 workers. The results of GPNE’s screening process, ratios of its lump yield, and planned increases in daily screening yields will be calculated into the Company’s economic plans for its future processing plant. As required in the Company’s Bulk Screening program, GPNE was also reporting its findings and progress to the Namibian Ministry of Mining for the Company’s Environmental Impact Assessment (EIA).
Next Graphite CEO, Cliff Bream, said:
The pace at which our team is passing through our evaluation phases and the results from each phase is encouraging. Now having completed the Phase in which we are able to collect, screen, yield, and then sample our 140,000 tons of tailings on the property, we are eager to determine the value of this standing, readily-available asset. It will provide us a peek into the caliber of materials we would find on the property’s other vein lodes. Most importantly, these early stages of evaluation and testing will provide our shareholders a peek into the long-term value of our Aukam property