Business
Ceylon Graphite - Obtains Environmental Clearance for K1
VANCOUVER, British Columbia, Aug. 21, 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. 21, 2019 (GLOBE NEWSWIRE) -- Ceylon Graphite Corp. (“Ceylon Graphite”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) today announced that its wholly owned subsidiary Sarcon Development (Pvt) Ltd has received Environmental Approval for its K1 Graphite Mining Project at Karasnagala, Sri Lanka from the Central Environmental Authority (“CEA”) of the Government of Sri Lanka. This approval is under Regulation 9 (i) of the National Environmental (Procedure for approval of projects) Regulation No 1 of 1993 as amended by Gazette (Extra- Ordinary) No 1159/22 dated 22.11.2000. CEA approval is mandatory for any mining project in Sri Lanka as the approval lays out the basic terms under which the mine may be operated. This ranges from the Mining Aspects to, Rehabilitation, Control of Noise and Vibrations, Control of Air Emissions, Transportation, Waste Disposal, Erosion and Drainage Management and Dewatering of the Mine. “This is a big step for Ceylon Graphite,” said Bharat Parashar, Chief Executive Officer. “The Industrial Mining License A should follow shortly as Environmental Approval was the last approval required by the Geological Survey and Mines Bureau, the mining regulator in Sri Lanka. We will be able to commence commercial production once the IMLA is granted.” 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 (CYL:TSX-V), 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 ...