For sulphides-bearing samples, copper, gold, silver, lead, zinc and sulphur were analyzed. Copper, lead, silver, zinc and sulphur were analyzed using digestion in aqua regia, then analyzed by AAS technique (Atomic Absorption Spectrometry). Elements such as As, Bi, Hg, Sb, Se and Te were analyzed by ICP-MS after dissolution in aqua Regia. Carbon and sulphur were analyzed in a combustion furnace and fluorine was analyzed by fusion selective ion electrode (S.I.E.). Three holes with the highest copper values were analyzed for gold. Gold was analyzed by fire assay and AAS with a 30g nominal sample weight. Copper, analyzed by AAS technique, and gold were done at ALS facilities in Val-d'Or.
Surface and borehole TDEM geophysical surveys
A ground time-domain electromagnetic ("TDEM") geophysical survey and a borehole Pulse-EM surveys were performed over selected portions of the Kwyjibo property by Abitibi Geophysics Inc. of Val-d'Or between August 25th and October 5th, 2012. A total of 75 line km were surveyed on five different loops that covered all significant VTEM anomalies from the 2006 airborne survey as well as all known occurrences of the iron formation on the Kwyjibo Property.
A total of 30 drill holes (5,492 m) were surveyed with borehole Pulse-EM on three loops. Eight (8) holes from the 1994 to 2011 core drilling programs were also surveyed for a total of 1,219 m for the most northeastern Grabuge - Gabriel showings loop (loop 5). A total of 2,089 m from 11 drill holes (1994 to 2012) were surveyed on loop 4 that straddled the Fluorine and Josette showings grids. Finally, 2,184 m from 11 holes (1995 to 2012) were surveyed in the loop 3 that covers most of the Josette horizon and the Josette grid.
The ground and borehole geophysical data were processed and interpreted by MBGeosolutions of Quebec-City. The 3D renderings of the TDEM anomalies and conductors are under review. High-priority geophysical targets from the 2012 surveys will be followed-up though drilling in 2013.
A first round of metallurgical tests is underway at COREM Laboratories in Quebec-City. The testing is being performed on two representative composite mineralized rock samples from mineralized iron formation (magnetitite) and from mineralized breccia facies with the aim to produce concentrates for critical rare earths, copper and iron. The first composite sample is comprised of 80 kg of mineralised rock from Josette showing. The second composite sample consists of 230 kg of quarter-split drill core samples from seven (7) holes drilled below trenches TR-95-29 and TR-95-30. The contract to carry out the metallurgical testing was awarded to COREM while the testing is being supervised by Roche Ltd. The results of the metallurgical testing program are expected during the third quarter of 2013.
The Kwyjibo polymetallic property, totalling 118 mining titles and covering 6,278 ha, is located 125 km northeast of the port city of Sept-Iles, in the Cote-Nord administrative district of Quebec. The property is also located 25 km east of the Quebec North Shore and Labrador railway line and is accessible by air from Sept-Iles.
Terms of the Agreement
On August 3, 2010, the Company announced the signing of an option agreement with SOQUEM Inc., a wholly-owned subsidiary of the Societe generale de financement du Quebec ("SGF") (in April 2011, the SGF merged with Investissement Quebec), to acquire a 50% interest in the Kwyjibo property. Under the terms of the agreement, Focus could acquire a 50% interest in the Kwyjibo property, by spending up to $3 million in exploration work on the property over a period of 5 years of which $1 million had to be spent during the first 2 years. SOQUEM is the operator for the exploration work carried out on the property to date and Focus has the option to become the operator, by paying $50,000 in cash or issuing a block of common shares valued at $50,000. As of the year ended September 30, 2012 Focus had spent $3,244,173 on the Kwyjibo project (net of tax credits and mining duties) and has accordingly earned its 50% interest in the property.
About Focus Graphite
Focus Graphite Inc. is an emerging mid-tier junior mining development company, a technology solutions supplier and a business innovator. Focus is the owner of the Lac Knife graphite deposit located in the Cote-Nord region of northeastern Quebec. The Lac Knife project hosts a NI 43-101 compliant Measured and Indicated mineral resource of 4.972 Mt grading 15.7% carbon as crystalline graphite with an additional Inferred mineral resource of 3.000 Mt grading 15.6% crystalline graphite. Focus' goal is to assume an industry leadership position by becoming a low-cost producer of technology-grade graphite. On October 29th, 2012 the Company released the results of a Preliminary Economic Analysis ("PEA") of the Lac Knife project which demonstrates that the project has an excellent potential to become a producer of graphite. As a technology-oriented enterprise with a view to building long-term, sustainable shareholder value, Focus invests in the development of graphene applications and patents through Grafoid Inc.
About SOQUEM Inc.
SOQUEM Inc. is a wholly-owned subsidiary of Ressources Quebec. Ressources Quebec is a new Investissement Quebec's subsidiary, specializes in the mining and hydrocarbon industries; it will consolidate and spur government investment in projects carried out by mining companies and the hydrocarbon sector.
The technical information presented in this press release has been reviewed by Benoit Lafrance, Ph.D., Geo (Quebec), Focus Vice-President of Exploration and a Qualified Person under National Instrument 43-101.
Forward Looking Statements - Disclaimer
This news release may contain forward looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com Focus Graphite disclaims any intention or obligation to revise or update such statements.
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.
Mr. Gary Economo
President and Chief Executive Officer
613-691-1091, ext. 101
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