Madagascar Graphite Project Update
Pascal Marchand M.Sc. P. Geol is overseeing and contributing key elements of the mine development and implementation plan being prepared by Lion to get its Ambato-Arana graphite mines back into commercial production. Pascal reports that much of the access and mining infrastructure remains in good condition. He further reports that the exposed graphite-bearing layers in the exposed laterite cliffs are up to 10 meters thick. Other areas covered by Lion's permits have layers of up to 20, or even 30, meters in thickness. Pascal's geological analysis suggests that the graphite bearing layers may be folded giving Lion additional graphite targets in the vertical dimension as well as horizontally due to the extension of the graphite bearing layers beyond the existing pits. In addition, he has worked with Lion to gather key historic data and reports for analysis under the environmental and social impact studies being undertaken by ECG Auguste.
Lion has evaluated access into its mine sites in the Tsanavoniany area which is on one of its three mining permits (mining permit 97); and has determined that the road is in good condition, requiring only minor repair and grading. This one area alone produced 95% Carbon graphite at a steady annual rate of an estimated 2500 metric tons/year (mesh 80+) using less advanced mining techniques than Lion intends to employ. [source: BRGM 2007 report], LION has 5 significant pits which have been mined previously and a large zone of graphite mineralization extending beyond those pits across its permits which Lion is working to delineate and quantify.
Sam Malin, COO and Director, says "The ongoing analytical work on Lion's Malagasy graphite mines continues to return encouraging results while at the same time Lion is moving forward towards finalizing it mine development and implementation plan."
The technical content of this news release was reviewed and approved by Glen Macdonald, P.Geo, who is a Qualified Person within the meaning of NI 43-101.
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