Mason Graphite reports excellent metallurgical test results

MONTREAL, Feb. 22, 2013 /CNW/ - Mason Graphite Inc. (TSXV: LLG) ("Mason Graphite" or the "Company") is pleased to report the completion of metallurgical tests on its Lac Guéret graphite deposit in Quebec that highlight exceptional graphite recovery, excellent concentrate purity and very good particle size distribution. Result highlights include:

•  Graphite recoveries in excess of 96%
  
  
• Concentrate purity of 96.3% for the +150 mesh cumulative
  
  
• 29% of +80 mesh cumulative, including 16% of +50 mesh

Approximately 1,400 kg of graphite-bearing mineralization were taken from across the different domains of the GC Zone of the Lac Guéret mineral deposit and sent to the independant laboratory, SGS Minerals Services in Lakefield, Ontario for testing. Priority zones were selected and composite samples were prepared for the tests.

A proposed flowsheet was developed and evaluated in two Locked Cycle Tests in order to demonstrate its robustness.

Lock Cycle Test #2 Results

Flake Size	Distribution (%)	Carbon Content (% Cg)
+50 mesh	16%	96.3%
+80 mesh	13%	96.4%
+150 mesh	14%	96.2%
-150 mesh	57%	91.7%
Total / Average	100%	92.6%

The Company will continue to test these minerals in order to further optimize the flowsheet and will also test other zones of the deposit in order to increase its understanding of the mineralization and validate the flowsheet accordingly.

The graphitic carbon and total carbon content of the head samples were quantified by Leco at 22.0% and 22.7%, respectively. The Carbon Grade was performed by Loss on Ignition (LOI) analysis at 1,000 °C.

"The results from these preliminary metallurgical tests along with the mineral resource estimate published last year confirms to us the robust nature of the Lac Guéret graphite deposit." said Benoît Gascon, CEO of Mason Graphite. "We are very pleased with the fact that our graphite deposit possesses key elements for mining, processing, and commercial viability; these being high grade, high recovery and flake size. These long-term factors generally contribute materially to the success of a graphite company by delivering a more efficient process and lower production costs."

Results from these preliminary metallurgical tests will be included in the Preliminary Economic Assessment, scheduled for completion in the coming months.

Qualified Person

Jean L'Heureux, P.Eng., is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the results of the metallurgical test work conducted by SGS for Mason Graphite's Lac Guéret deposit.

About SGS Metallurgical Services

SGS Minerals Services was founded over half a century ago and is an industry leader in a full range of metallurgical services including the development of bankable flow sheets and pilot plant programs. Its metallurgists, hydro-metallurgists and chemical engineers are experienced in all the major physical and chemical separation processes utilized in the recovery of metals and minerals contained in ore bodies around the world.

About Mason Graphite

Mason Graphite is a Canadian mining company focused on the exploration and development of its 100% owned Lac Guéret graphite property, which is located in northeastern Québec near the main service center of Baie-Comeau.  The Lac Guéret graphite property currently hosts a National Instrument 43-101 compliant Mineral Resource of about 300,000 tonnes at 24.4% Cgr in the Measured category and 7.3 million tonnes at 20.2% Cgr in the Indicated category. (See news release issued on July 16, 2012). Exploration potential exists on the property with the current Mineral Resource based on exploration of only 17% of one well defined zone. Mason Graphite is led by Benoit Gascon, CPA, CA, who has held 20 years of executive positions at Timcal, including over 6 years as CEO. Timcal, now owned by Imerys, is one of the largest graphite producers in the world.

Other Information

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release. This news release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.

Cautionary Statements Regarding Forward Looking Information

This press release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) the risks associated with entering into joint ventures; (vii) fluctuations in commodity prices; (viii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (ix) competition faced by the resulting issuer in securing experienced personnel and financing; * access to adequate infrastructure to support mining, processing, development and exploration activities; (xi) the risks associated with changes in the mining regulatory regime governing the resulting issuer; (xii) the risks associated with the various environmental regulations the resulting issuer is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) risks related to potential conflicts of interest; (xv) the reliance on key personnel; (xvi) liquidity risks; (xvii) the risk of potential dilution through the issue of common shares; (xviii) the Company does not anticipate declaring dividends in the near term; (xix) the risk of litigation; and (xx) risk management.

Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.

  

 

SOURCE: Mason Graphite Inc.

please visit www.masongraphite.com or contact: 

Investor Relations
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[email protected]

Simon Marcotte, Vice-President Corporate Development
[phone]

Benoît Gascon, CEO
[phone]

Montreal Office
2000 McGill College ave., Suite 2210
Montreal, PQ  H3A 3H3

Toronto Office
65 Queen Street West, Suite 800
Toronto, Ontario M5H 2M5