LAS VEGAS, NV, Dec 11, 2013 - National Graphite Corp. (OTCQB: NGRC) announces that, due to the delays encountered in its application to drill within the Chedic Voltaire lode claim, the Company has cancelled the drill program. On March 5, 2013, the submitted an "Intent to Operate" plan with the Humbolt-Toiyabe National Forestry Service, Elko District Office to drill five holes within the Chedic Voltaire lode claim block. In May 2013, the National Forestry Service determined that the Company submit a "Plan of Operations" to include an environmental impact study. In July, 2013 the Company completed its environmental impact study on the proposed drilling program and submitted a "Plan of Operations" for permitting approval.
With the project being tied up in red tape and substantial property payments coming due, the Board of Directors has decided to abandon the project and concentrate on its Silver holdings in Mineral County, Nevada, near the Candelaria Silver Mine. The Company's LAG claims are located in the Walker Lane Mineral Belt in western Nevada and is a major northwest-southeast-trending zone which displays right lateral fault movement that ranges from 30 to 40 miles in its central portion, and hosts a variety of precious metal and base metal mineral deposits (as well as geothermal activity) along its length.
Numerous samples have been collected returning values greater than 3 oz. silver/ton (opt) with a high value of 20.35 opt silver. The highest gold in rocks returned is 2.08 ppm (0.061 opt Au). 170 scoop-soil samples were collected across a zone approximately 7,000 feet long and 1,500 feet wide. This sampling returned three prominent anomalous silver zones within a very large envelope of detectable silver. The largest zone is over 3,000 feet long and had a high value of 9.4 ppm Ag. Two strong gold zones correlated with the silver; these soil values enveloped the very high-grade silver and anomalous gold in rock chips as well.
The Company intends to continue the evaluation of the silver zone on the LAG claims. This work will include 1:2,400 scale outcrop mapping and additional prospect rock sampling and to identify drill targets and drill, if results warrant.
"Safe Harbor" Statement:
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. A complete "SAFE HARBOR: Disclosure" is listed on the Company's Website NationalGraphiteCorp.com under "News"
Contact:Kenneth B LiebscherIR@nationalgraphitecorp.comTel: 855-842-8268
SOURCE: National Graphite Corp.