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Northern Graphite Files Amended Okanjande Technical Report and Clarifies Certain Technical Disclosure
Ottawa, Ontario--(Newsfile Corp. - August 16, 2023) - Northern Graphite Corporation (TSXV: NGC) ...
About this update from Northern Graphite Corporation
[{"type":"text","content":"Northern Graphite Files Amended Okanjande Technical Report and Clarifies Certain Technical DisclosureOttawa, Ontario--(Newsfile Corp. - August 16, 2023) - Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (FSE: 0NG) (XSTU: 0NG) (the \"Company\" or \"Northern\") announces that as a result of a review by staff of the Ontario Securities Commission (the \"OSC\"), it has filed an amended version of the technical report dated July 1, 2022 entitled \"Okanjande Graphite Project Preliminary Economic Assessment Study Report\" (the \"Amended Technical Report\") relating to the preliminary economic assessment (\"PEA\") for its Okanjande, Namibia graphite project and has amended certain parts of its investor materials and is issuing this news release to clarify certain disclosure by the Company with respect to future production targets. The Amended Technical Report has not impacted the material components of the ‎PEA, notably resources, metallurgy, mine plan, cost estimates, economic analysis and ‎environmental matters.‎ The Amended Technical Report dated July 28 2023 maintains an effective date of July 1, 2022 ‎and can be found under the Company's profile on SEDAR at www.sedar.com and on the Company's website.‎ The original technical report dated July 1, 2022 has been amended solely to:‎Remove confidentiality statements by the authors which purported to limit the use or publication of the report in a manner which interfered with the Company's obligation to reproduce the report by filing it on SEDAR;Remove disclaimer statements by the authors which purported to ‎disclaim responsibility by the qualified persons for the report for any information in the report;Revise statements which used the term \"ore\" in the context of mineral resources only (while the Okanjande project was previously in production, the Company's PEA on the project is not sufficient to establish a mineral reserve and accordingly use of the term \"ore\" is not appropriate in the PEA or other corporate disclosure); andRemove statements which provided aspirational production rates or targets unsupported by the report.The Amended Technical Report addresses comments raised by the OSC in the course of its review.In addition, in certain parts of its investor materials and other disclosures, the Company disclosed production r...