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Mason Graphite reports 658% increase in measured and indicated mineral resources to 50 million tonnes, including 6.7 million tonnes grading 32.4% Cg
EXCELLENT PEA RESULTS MAINTAINED: FIRST 22 YEARS OF PRODUCTION AT 27.4% Cg AND LOW OP...
About this update from Transoceanic Investments Inc.
[{"type":"text","content":"\n\n\n\n\n\n\nEXCELLENT PEA RESULTS MAINTAINED: FIRST 22 YEARS OF PRODUCTION AT 27.4%\n Cg AND LOW OPERATING EXPENSES AT $390/TONNE\n\n\n\nCONFERENCE CALL WILL BE HELD TODAY AT 2PM EST\n\n\n\n\n\nMONTREAL, Dec. 5, 2013 /CNW/ - Mason Graphite Inc. (\"Mason Graphite\" or\n the \"Company\") (TSX.V: LLG; OTCQX: MGPHF) is pleased to announce\n significant resource growth in an updated mineral resource estimate for\n its 100%-owned Lac Guéret graphite project in northeastern Quebec.\n\n\nHighlights from the updated mineral resource estimate \n\n\n\nMeasured & Indicated (\"M&I\") mineral resources increased 658% from 7.6\n million tonnes (\"Mt\") to 50 Mt\n\n\nInferred mineral resources increased from 2.8 Mt to 11.9 Mt\n\n\nOverall M&I grade of 15.6% Cg; the main parameters of the preliminary\n economic assessment for the Lac Guéret project (the \"PEA\") are still\n valid: 22 years of production at 27.4% with a low stripping ratio at\n 0.76:1 and low operating costs at $390/tonne\n\n\nEnlarged mineral resource could lead to optimized pit design and\n improved economics\n\n\n\n\n\nLarge increase in Mineral Resources\n\n\nThe new mineral resource estimate, as calculated by Roche Ltd.\n Consulting Group (\"Roche''), includes assay data from 170 holes\n (approximately 26,500 metres) drilled in the GC Zone and now totals\n 50,024,000 tonnes grading 15.6% Cg, including 6,672,000 tonnes grading\n 32.4% Cg, in the Measured and Indicated categories and 11,861,000\n tonnes grading 17.1% Cg, including 2,637,000 tonnes grading 30.5% Cg,\n in the Inferred category (See Table 1 below). The enlarged mineral\n resource envelope offers opportunities to further optimize the mine\n plan and the project's economics as set out in the PEA in the next\n phase of technical studies.\n\n\n\"We are very pleased to see the success of our 2012 drilling program\n materialize in this updated mineral resource estimate\", commented\n Benoît Gascon, President and CEO of Mason Graphite. \"We expect the\n scale of growth of our project to positively impact what is already\n expected to be an economical project. Results from the Lac Guéret\n Project continue to reinforce our belief in the world-class potential\n of this asset.\"\n\n\nTable 1 - December 5, 2013 - Updated Mineral Resource Estimate, GC Zone\n\n\n\n\nCategories\n\n\nUnit\n\n\nT...