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Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (the "Company" or "Northern") is pleased to announce results from the first phase of testing with respect to manufacturing spherical graphite or "SPG" from graphite concentrates produced from the Bissett Creek deposit. SPG is the anode material used in lithium ion batteries. The testing was carried out by ProGraphite who concluded that Bissett Creek concentrates are very well suited for the spheronization process with an above average yield, narrow particle size distribution and relatively high tap density. ProGraphite is located in Germany and is one of the world's leading graphite R&D laboratories with over several decades of professional expertise and experience.
Gregory Bowes, CEO commented that: "The large flake nature of our Bissett Creek deposit provides Northern with the luxury of starting with a project that is 'right sized' for the current market and has robust economics based on higher margin industrial markets that are here now. However, we must also be prepared for higher prices and better margins in the battery anode material market as they are necessary to stimulate development of the multiple new graphite mines needed for automobile manufacturers to meet their EV sales targets." He added that: "Potential supply shortages may create a scenario where all of our production needs to be turned into anode material regardless of flake size."
ProGraphite produced three SPG products with average sizes of approximately 15, 17 and 20 microns. The SPG yield ranged between 52.3 and 55.3 per cent compared to industry averages of 35 to 40 per cent. The particle size distribution was relatively steep in all cases which is a desirable quality. The tap density was also relatively high, ranging between 94 and 99 per cent. In part, this reflects the high bulk density of Bissett Creek concentrates which is a requirement for high quality SPG. The ProGraphite results confirm test work previously carried out by the Beijing General Research Institute of Mining and Metallurgy ("BGRIMM") who also stated that the yield of SPG should increase with large scale, commercial processing. BGRIMM is a Chinese state owned research and development company and the premier Chinese institute in the field of mining and metallurgical technology.
Spheronization is the first step in manufacturing SPG and essentially involves micronizing the graphite flakes and rolling them up like a snowball. The spherical shape improves packing density in the anode which means higher capacity batteries, it creates more sites for lithium ion intercalation which results in better battery performance and it enables the anode material to be laid down quickly and uniformly in thin sheets during the battery manufacturing process.
About Northern Graphite
Northern Graphite is a mineral development and technology company focussed on developing its Bissett Creek graphite deposit and upgrading mine concentrates into high value components used in lithium-ion batteries, electric vehicles, fuel cells, graphene and other advanced technologies. An independent study estimates that Bissett Creek will have the highest margin of any existing or proposed graphite deposit due to its very favorable location, simple metallurgy and the high quality of its concentrates which the Company believes will provide a competitive advantage in manufacturing products for the green economy.
Bissett Creek is an advanced stage project with a full Feasibility Study and its major mining permit which puts the Company in position to make a construction decision, subject to financing. The Project is located in the southern part of Canada between the cities of North Bay and Ottawa and close to the Trans-Canada highway providing ready access to labour, supplies, equipment, natural gas and markets.
Qualified Person
Gregory Bowes, B.Sc. MBA, P. Geo., a Qualified Person as defined under National Instrument 43-101, has reviewed and is responsible for the technical information in this news release.
For additional information
Please visit the Company's website at https://www.northerngraphite.com/investors/presentation/, the Company's profile on www.sedar.com, contactGregory Bowes, CEO (613) 241-9959 or visit our Social Channels.
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This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements in this release include statements regarding, among others; economic and technical studies, graphite prices, project economics, permitting, the development timeline and the graphite market. All such forward-looking statements are based on assumptions and analyses made by management based on their experience and perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. However, these statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected including, but not limited to, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of other parties to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure and the failure of ongoing and contemplated studies to deliver anticipated results or results that would justify and support continued studies, development or operations. Readers are cautioned not to place undue reliance on forward-looking information or statements.
Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85128
