VANCOUVER, BC, Sept. 19,
2024 /CNW/ - Applied Graphite Technologies
Corp. ("AGT") (TSXV: AGT) (OTCQB: AGRTF), is
pleased to report successful results from the geophysical survey
that is currently underway on the Queens Mine Complex (QMC) in Sri Lanka.
The preliminary geophysical survey results, from the first line,
revealed three significant anomalies. One anomaly is located
between the 165-185 meter-section along the profile, with a
chargeability of approximately 400 mV/V. The second significant
anomaly is located between the 12–30-meter sections along the
profile, with a chargeability of about 350 mV/V. The third one is
located between 100 and 125 m and
seems to develop below the actual limit of detection of
60 m. All show significant extension
below 60 metres. The electrode spacing is being widened to allow
for depths of 300 metres or more. High chargeability, when combined
with low resistivity, provides a strong geophysical signature for
graphite exploration. The survey line was run over 300 metres,
degrees off perpendicular to the known orientation of the graphite
veins. Thus, an indication that the three anomalies may correspond
to three graphite mineralized zones or swarms of graphite veins
similar to the nearby Kahatagaha graphite mine, which has 32 vein
systems, currently mining at 600m.
The initial profile will be extended to the NNE to totally
delineate the first conductive anomalies. The geophysics will now
be plotted in 3D to locate the vertical graphite veins. Graphite is
very conductive, so modern geophysics is a very useful tool to map
the veins to depth.
"I am pleased to see the immense success of the initial results
as we are introducing new methods in detecting graphite veins in
Sri Lanka" said Don Baxter, CEO. "With the combination of data
from the LIDAR survey taken of the entire QMC area a few months ago
which gave us a baseline to build our geologic models, and the
current successful geophysical results, we are provided with
valuable information to improve the Company's understanding of this
priority target area. As we continue to run additional lines, with
electrode spacing wide enough to reach a depth of at least 300
metres, we look forward to further understanding the enormous
potential of the Queens Mine
Complex."
Graphite veins exhibit chargeability due to the unique
electrical properties of graphite and its interaction with the
surrounding rock. Graphite's high conductivity and
polarizability result in a
pronounced high chargeability anomaly when subjected to
an electric field, as it easily facilitates electron movement and
temporary charge storage. This high chargeability contrasts
sharply with the lower chargeability of the surrounding rocks.
During the geophysical survey, electrodes are arranged in
configurations along survey lines, and an electrical current is
injected into the ground. The voltage decay rate is measured and
processed to create subsurface models of chargeability and
resistivity. High chargeability zones, especially when correlated
with low resistivity, indicate the presence of graphite veins.
These anomalies are further interpreted using cross-sections and
pseudo sections. The survey results are compared with surface
geological maps, and high chargeability zones are targeted with
drilling to confirm the presence, grade, and continuity of
graphite. This approach ensures accurate identification and
delineation of graphite veins, leveraging the distinct
chargeability response of graphite in geophysical
surveys.
About Applied Graphite Technologies
Applied Graphite Technologies is developing the Queens
Mine Complex in Sri Lanka. The
QMC is on private land in the heart of the vein graphite district,
with historical workings and vein graphite outcrops. Vein graphite
is naturally high grade (+95% carbon content in the ground) and
does not require primary processing. Testing of vein graphite in
lithium-ion battery anodes has shown very high capacities,
performing better than synthetic graphite. Natural vein graphite
has a far superior ESG footprint than synthetic and is cheaper
without compromising performance.
The technical information in this news release has been prepared
by Dr. Christian Derosier, P. Geo.,
M.Sc., D.Sc.., a "qualified person" as defined in National
Instrument 43-101 Standards of Disclosure for Mineral Projects
("NI 43-101").
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release contains forward-looking information as
such term is defined in applicable securities laws, which relate to
future events or future performance and reflect management's
current expectations and assumptions. The forward-looking
information includes statements about Applied Graphite
Technologies (AGT)'s plans. Such forward-looking statements
reflect management's current beliefs and are based on assumptions
made by and information currently available to AGT,
including the assumption that approvals will be obtained. 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. Risk factors that could cause actual results to differ
materially from the results expressed or implied by the
forward-looking information include, among other things, an
inability to access financing as needed. AGT cautions
the reader that the above list of risk factors is not exhaustive.
Except as required under applicable securities legislation, AGT
undertakes no obligation to publicly update or revise
forward-looking information.
SOURCE Applied Graphite Technologies Corporation