Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London.
Tuesday, 2 October 2012
Focus Graphite provides update on Lac Knife PEA release
Focus Graphite (CVE:FMS)(OTCQX:FCSMF) said today that it will issue results from a preliminary economic assessment report for its Lac Knife graphite project in Quebec, together with a technical report, on or before October 31.
The company said this is due to a requirement set by the Ontario Securities Commission to file the technical report on Sedar, by no later than October 31.
The report is being completed by Roscoe Postle Associates, Focus said.
Focus Graphite is the owner of one of the highest-grade, at 16 per cent, technology graphite resource in the world at its Lac Knife project in Quebec. It is also invested in the development of graphene applications and patents through its Grafoid Inc business.
On Monday, the company heralded the arrival of chemical engineer Joseph E. Doninger as the new director of manufacturing and technology.
Doninger, whose appointment became effective October 1, is a developer and co-developer of many Canadian, European and U.S. patent applications tied to carbon processing methods and processing equipment.
He is the author and co-author of more than two dozen technical reports and studies relating to graphite composite anodes, carbon-based materials for electrochemical energy storage systems and other related publications.
In his new role, he will be responsible for leading Focus Graphite's team to meet objectives at its future mine site and planned processing plants in Varennes, Quebec.
In June, Focus started its 2012 infill and exploration drilling program at the Lac Knife project. Around 5,000 metres of infill drilling is planned, with the aim of upgrading the miner's existing inferred resource to the indicated category.
The results will be used to revise and upgrade the company's NI 43-101 compliant 4.9 million tons at 15.8 per cent Cgr (Carbon as graphite) indicated resource, and 3.0 million tons at 15.6 per cent Cgr inferred resource published last December.
The company said Lac Knife will be able to produce large and medium flake, battery-grade graphite at the lowest cost in the world, at just $350 per tonne.
An additional 2,500 metre exploration drill program will be done to test a number of targets outside the existing resource on the Lac Knife property.
Earlier this year, Focus inked a licensing agreement with Hyrdo-Quebec's technology research institute, IREQ, allowing the junior explorer to develop a graphite purification facility and anode production facility for lithium-ion batteries.
The facility will transform first-production graphite sourced from Lac Knife to battery-grade material.