TORONTO, ON / ACCESSWIRE / June 29, 2022 / Gratomic Inc. (TSX-V:GRAT) (OTCQX:CBULF) (FSE:CB28) ("Gratomic" or the "Company") reports that it has successfully completed the first stage of its Diamond Drilling (DD) program at its Aukam Graphite Project in Namibia (see press release dated May 19, 2022).
Sixteen holes, totaling 1,218.85 meters, were drilled during this first stage of the program which concluded on June 24, 2022. Hole depths varied from 42 to 141.1 m, with all holes intercepting graphite veins (see press release dated May 24, 2022), as expected by the Company.
Drill core samples were sent to laboratories in Namibia and South Africa. Assay results are expected within 30 days enabling the geological modelling of the drilled mineralization to be completed and quantified. This will also enable new drill targets to be defined and pursued.
In parallel, the Company has initiated a near-surface bench excavation program at the region of the historic adits in order to unveil additional mineralization, which was not previously accessible by the DD program, due to poor access conditions in the upper areas of the mountain. In addition to recovering eventual mineralization from this section, this program will also provide proper surfaces to accommodate drilling rigs for a second planned DD program, aiming to intercept additional veins.
Gratomic is a multinational company with projects in Namibia, Brazil, and Canada. The Company is focused on becoming a leading global graphite supplier and aims to secure a strong position in the EV battery supply chain. With the continued development of its flagship Aukam project and further exploration on the Company's Capim Grosso property, Gratomic sets itself apart by seeking out unique top-quality assets around the world. True to its roots, the Company will continue to explore graphite opportunities displaying potential for development. The Company ranked third place in the top 10 preforming mining stocks on the 2022 TSX Venture 50™.
Large quantities of high-quality vein graphite have been shipped for testing to confirm its viability as an anode material. Gratomic is confident that the test results will provide a unique competitive advantage in its desired target markets. The Company will continue to update the public on the status of these tests and will provide results as soon as they become available.
The Company has formed a collaboration agreement with Forge Nano. With its patented ALD coating, this cooperation with Forge Nano is a key element to support Gratomic's strategies towards the value-added phases of production of graphite for anode applications, namely micronization, spheronization and coating, making Gratomic graphite a preferred choice for use in lithium-ion batteries.
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Forward Looking Statements:
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com)
SOURCE: Gratomic Inc.
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