On this second sampling program Mr. Lauzier commented: "The samples were also taken in accordance with appropriate sampling standards including being subsequently properly identified and tagged to ensure a proper chain of custody". Steven also commented that he is, "Looking forward to his return to the property to search for other graphite veins at the surface of the mine pit as soon as the ground conditions allow broadening the area of review and further expanding the property potential."
While the vein was clearly visible the next steps is to further quantify the deposit. Observation reveals that the encountered vein and the marble unit are pinched at the surface between a paragneiss and a pegmatite unit and so could widen at depth. Historical records reviewed by the Company indicate that five veins with widths varying between 10 and 60 centimeters were exploited. Once the snow melts it will allow for better sampling and mapping. Exploration efforts should be able to follow the vein extension at depth by walking directly on the vein at the bottom of the pit. As a result of the new information and these past records, the Company has been preparing a full geological program including airborne ground EM surveys, channel sampling, Scanning Electron Microscope (SEM) analysis and a defined drill program scheduled for the spring of 2013. The Company also plans to perform metallurgical tests to determine the potential to further upgrade the new samples.
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Distinctive qualities in lump/vein include extreme writing capabilities due to the high percentage of graphitic carbon
The Company is extremely pleased with these latest results and believes it is making important steps forward in its mandate to become a new and viable North American near-term producer of high grade graphite. Pursuing this goal requires a comprehensive understanding of the market and supply chain dynamics of the graphite sector and the establishment of a high grade, low cost mine and milling operation. As the current sampling programs continue to provide encouraging results the Company is confident it is well on its way towards that near-term production structure as well.
Qualified Person: Remi Charbonneau, Ph.D., P. Geo
#290 an Associate of Inlandsis Consultants s.e.n.c., is the Independent Qualified Person under National Instrument 43-101. Remi has reviewed and approved this release and was involved in the preparation of the technical information.
ABOUT CANADA CARBON INC. (TSX VENTURE: CCB)
Canada Carbon holds 100% interest in five graphite properties: The Asbury, Miller, Walker, Dun Raven and Maria. The Asbury Mine is located north of the Ottawa-Gatineau area. The open pit mine and mill were in operation from 1980 to 1989 where a total of less than 70,000 tons were processed. The Miller mine is located northeast of Ottawa in Grenville Township. This mine was worked around 1845 and was probably the first graphite operation in Canada. It is reported that 25 rail cars of lump graphite were shipped from this deposit in the 1900s. The Walker Mine is a past producer with about 816 tons of graphite extracted from the mine between 1876 and 1920. The mine is located northwest of Buckingham, in Buckingham Township. The Dun Raven graphite deposit is easily accessible a few hours west of Montreal, in Thorne Township. The Maria Graphite Project is located in Maria Township, south of the community of Bissett Creek on the Trans Canada Highway between the cities of Ottawa and North Bay, Ontario. These claims surround and are contiguous to Northern Graphite's Bissett Creek graphite deposit. Northern Graphite recently reported the extraction of very large high purity flake graphite consistent across the entire resource with overall recovery rates of 97%. (NGC.V News Release 23/04/2012).
On Behalf of the Board of Directors
R. Bruce Duncan, Interim President & CEO
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Canada Carbon Inc.
R. Bruce Duncan
Interim President & CEO
(604) 909-1163 (FAX)
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