Lump graphite typically has grades from 50% to 95%, with an average grading in the 65% to 80% range. Grades of this sort are not unusual in deposits such as those mined in Sri Lanka. As such they offer the potential to direct ship product to an upgrade facility with limited primary processing. This also permits processing to high purity levels up to 99.9% Cg to be much more cost effective as well. The combination of low costs and market prices for lump graphite make it a strategically sound business model in the emerging natural graphite sector.
ABOUT LUMP/VEIN GRAPHITE
Lump or Vein graphite is considered to be one of the rarest, commercially valuable, and highest quality types of natural graphite. It occurs in veins along intrusive contacts in solid lumps and is only actively mined in Sri Lanka (Mores, 2007). Given the carbon content typically found with lump/vein graphite recovery operations and costs will normally be lower than flake or amorphous graphite recovery. Lump graphite processing techniques can include everything from hand sorting of large concentrated samples to standard crushing, grinding, froth flotation and milling. Lump/vein graphite is suitable for many of the same applications as flake graphite giving it a distinct competitive edge in terms market prices and product applications.
ABOUT TORCH RIVER RESOURCES
Torch River Resources is a publicly traded junior mining exploration company with a number of mining claims. The Walker graphite property operated as a mine from 1890 through to 1920 and is located in an area known as the Grenville belt. It is approximately 30 km north-east of Ottawa between Montreal and Ottawa and has the potential for high quality graphite deposits that have been actively examined and reported on for many years in this area. The Company's Mount Copeland molybdenum deposit lies within metamorphic rocks flanking the southern margin of Frenchman Cap Dome, 32 kilometers northwest of Revelstoke, British Columbia. The Fort-Eden copper property is comprised of 18 mineral tenures that total 2,828.6 hectares in area. The mineral claims are located 100 km west of Fort St James, BC. The Red Bird deposit is comprised of three zones of molybdenum concentration referred to as the Main, Southeast and Southwest zones within a property totaling 1,836 ha (4,400 acres) and is located 133 km southwest of Burns Lake and 105 km north of Bella Coola. The Company plans to divest each of these properties through a sale or joint venture, thus allowing it to focus on building a graphite mining company.
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.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Torch's business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "intends" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Such forward-looking statements include those with respect to Such forward-looking statements include those with respect to the Company's intention to complete the Walker acquisition (the "Transaction"), the Company's intention to divest its existing mineral properties (the "Divestures"), the anticipated closing time of such transactions, the intention of Torch to undertake a broad sampling, mapping and exploration program this summer (the "Work Programs") and to pursue its strategy.
These forward-looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. The forward-looking statements in this news release assume, inter alia, that the conditions for completion of the Transaction and Divestures, including regulatory approval, will be met, that the Company will be able to arrange sufficient funding for the Transactions and the Work Programs and that there are no other material obstacles to pursuing the new strategy.
Although Torch believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that these expectations will prove to be correct. There are risks which could affect Torch's future results and could cause the results to differ materially from those expressed in these forward-looking statements including negotiation failure or delay, the impact of general economic conditions in Canada and the risk that they will deteriorate, industry conditions, including fluctuations in the price of supplies and the risk that they will increase, that required consents and approvals from regulatory authorities will not be obtained, that activity in the lump or vein graphite business will not be at the level or of the nature anticipated, liabilities and risks inherent in Torch's operations, technical problems, equipment failure and construction delay.
Statements of past performance should not be construed as an indication of future performance. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement.
Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and Torch assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws.
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).
Torch River Resources Ltd.
Director, Corporate Communications
(905) 844-1200 ext:305
Most Popular Stories
- Bipartisan Budget Deal Gets Key Support in House
- TFA Recruiting DACA Recipients
- Bitcoin Clones Lurch Onto Financial Scene
- Scotch Whisky Sales Raise Distillers' Spirits
- Clinton to Keynote Annual Simmons Leadership Conference
- Holiday Shopping Off to a Slow Start This Season
- Health Coverage Disparities Emerge Among States
- Podesta Likely to Reject Keystone XL
- Fake Deaf Interpreter Was Hallucinating, Has Schizophrenia
- Tea Party Glum in Face of Bipartisan Budget Deal