Saint Jean Carbon to Acquire Miller East Lump Graphite Project

Saint Jean Carbon Inc. (TSXV:SJL) announced that it has entered into a non-binding agreement with an arm’s-length party under which it will acquire 100-percent interests in nine mineral claims in Quebec, Canada.

The claims, called the Miller East property, are adjacent to Canada Carbon Inc.’s (TSXV:CCB) Miller graphite project.

Paul Ogilvie, CEO of Saint Jean, commented:

[W]e believe the Miller East property is the continuation of the Miller property held by Canada Carbon and that it falls within the same geological and regional areas as our Walker, Wallingford, St. Jovite and Clot lump graphite properties. Accordingly it is our plan to determine whether the anomalies that CCB reports do extend into our new claims. The area is historically rich in lump graphite, and we look forward to getting our feet on the ground as soon as we can with a preliminary geological exploration program.

Acquiring these additional claims fits with Saint Jean’s efforts to develop an operational profile that leads to a lower overall cost base and a broad range of quality products. While important, the results of these efforts will continue to depend on additional development and analysis of all our properties. This work includes appropriate drill programs, feasibility studies, economic modeling, completed NI 43-101’s, ongoing R&D efforts, and of course continued close contact with the graphite customer base.

Click here to read the full Saint Jean Carbon Inc. (TSXV:SJL) press release.