Zen Graphene has started environmental baseline studies for its Albany graphite project, tasking ERM Canada to conduct the studies.
The company said the studies will aid the development of the project, with the material sourced being used as a precursor graphene material. Zen Graphene expects the material to be administered in a future graphene-based solution.
According to the release, the studies will add data that is critical for upcoming project advancements, covering areas like project design, environmental assessment and regulatory permits.
Zen has tasked ERM Canada, known for its work in the mining industry, to guide the framework tied to these baseline studies.
“The initiation of field level baseline data studies with ERM marks the next step in the development of the Albany Graphite asset,” Francis Dube, CEO of Zen Graphene, said in the release.
“By integrating baseline data into the early project planning stage, ZEN will maximize the value to the benefit of both our shareholders and the local community.”
ERM, in turn, has joined hands with Constance Lake First Nation (CLFN) to augment the community’s involvement in the project.
“We are happy to see ZEN Graphene taking the right steps to protect the environment and work closely with us,” Rick Allen, CLFN chief, said in the release.
In March, the company noted that a metallurgical test conducted on a mechanism to purify Albany graphite was successful. Zen Graphene said the success means that the company has made a critical leap into its graphene production.
“The next step for the company will be to confirm an industrial process to convert purified Albany Graphite into graphene,” Dube said.
Following the news, Zen was down 1.28 percent, closing the trading session on Thursday at C$0.30. The stock has a “sell” ranking on TradingView with 13 verticals against, 10 in neutral and five in favor.
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Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.