Business
Ceylon Graphite - JADs obtains IMLB License
VANCOUVER, British Columbia, Aug. 02, 2019 (GLOBE NEWSWIRE) -- Ceylon Graphite Corp. (“Ceylon Graphite”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) today announced th
About this update from Ceylon Graphite Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 02, 2019 (GLOBE NEWSWIRE) -- Ceylon Graphite Corp. (“Ceylon Graphite”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) today announced that it’s subsidiary JADs Enterprises (PVT) Ltd has been awarded an IMLB license by the Geological Survey and Mines Bureau (“GSMB”) of the Government of Sri Lanka for it’s M1 site in Melsiripura, Sri Lanka. IML is an Industrial Mining License issued by the GSMB under the Mines and Minerals Act no 33 of 1992. Under category B, typically some single borehole blasting is permitted plus the use of certain machinery and equipment is permitted in the mining process. The site in question may also excavate/produce a small amount of graphite per month. “This is another step in the right direction,” said Bharat Parashar, Chief Executive Officer. “The license will allow us to speed up mine development work at M1 as we apply for a IMLA license, a process that has already started.” Qualified Person Robert Marvin, P. Geo (ONT) is a Qualified Person under National Instrument 43-101 and has reviewed and approved the geological information provided in this news release. About Ceylon Graphite Corp. Ceylon Graphite Corp, is a public company listed on the TSX Venture Exchange (TSX-V:CYL), that is in the business of exploration and development of graphite mines in Sri Lanka. The Government of Sri Lanka has granted the company exploration rights in a land package of over 120km². These exploration grids (each one square kilometer in area) cover areas of historic graphite production from the early twentieth century and represent a majority of the known graphite occurrences in Sri Lanka. Graphite mined in Sri Lanka is known to be some of the purest in the world, and currently accounts for less than 1% of the world graphite production. FORWARD LOOKING STATEMENTS: This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management's current expectations and assumptions. The forward-looking information includes statements about Ceylon Graphite’s grids, Ceylon Graphite’s plans to undertake additional drilling and to develop a mine plan, Ceylon Graphite’s Mining License application and to commence establishing mining operations. Such forward-looking statements reflect...