Northern confirms potential to extend life at Lac des Iles graphite mine

Northern Graphite (TSXV:NGC; OTCQB:NGPHF) is confident that the life of its Lac des Iles graphite mine can be extended thanks to the results of recent exploration drilling. This is North America’s only significant producer of natural graphite, located in western Quebec.

"The second half of the drilling program has confirmed the potential for near-surface resources that we can extract in the short term," said Northern COO Kirsty Liddicoat. "We were able to identify good grade that is shallow, including a near-surface, thicker seam of graphite mineralization."

Drilling began in May 2023 and totalled 7,890 metres in 88 holes. The campaign was designed to test potential targets in the existing mine lease after a detailed review of historical studies and mine plans, plus an airborne geophysical survey. Targets included the northern extension of the pit, mineralization in the west side of the pit wall, and numerous electromagnetic conductors.

Two of the recent targets returned good grades over several holes. Targets at Zone 13 returned 7.31% graphitic carbon (Cg) over 7.9 metres, 6.70% Cg over 76.9 metres, 7.33% Cg over 8.0 metres, 8.60% Cg over 6.6 metres, and 8.60% Cg over 8.9 metres. Zone 7 returned 9.21% Cg over 6.1 metres, 6.50% Cg over 6.0 metres, and 7.51% over 5.9 metres.

Results such as those for the second half of the campaign (above) have shown good near-surface mineralization with a number of seams tending to merge near the surface. Mineralization remains open to the north and south. Northern will be evaluating the potential for resource and reserve increases over the fourth quarter.

Results from the first half of the drill program were released in August. Assays from Section B were similar to those above, but those from Zone 4 were as high as 9.85% Cg over 5.8 metres.

"These results reinforce our conviction that Lac des Iles will become a lynchpin asset to supply sustainable graphite to our current market and to our planned battery anode material plant in Baie-Comeau," said Northern CEO Hughes Jacquemin.

Northern acquired the Lac des Iles mine, located 180 km northwest of Montreal, in April 2022.

Additional information is available on www.NorthernGraphite.com.