Toronto, ON. February 14, 2022, Gratomic Inc. (“Gratomic”, “GRAT,” or the “Company”) (TSXV:GRAT) (OTCQX:CBULF) (FSE:CB82) discloses the preliminary (simplified) Process Flow Diagram (PFD) for its 100% owned Capim Grosso project, located in the mining friendly jurisdiction of Bahia State of Brazil.
Following the announcement of the results from initial metallurgical tests performed on trenched material (see press release dated February 7, 2022 here), the Company’s technical team has initiated preliminary engineering for the project, which will include completing a mass and water balance process flow diagram (PFD), and process design criteria (PDC). This engineering design will facilitate the development of preliminary operating and capital expenses (OPEX and CAPEX) for the project. The Simplified PFD is shown below:
As Gratomic proceeds with the current 5,000-meter drilling program, the Company will continue to conduct new tests with the drill core samples, in order to optimize engineering design for the flotation circuit and factor in the requirements to process the material at depth.
Armando Farhate, COO & Head of Graphite Marketing and Sales, says: “Our technical team is moving at a very quick pace to fast track the engineeting process of our Capim Grosso project, without overlooking quality and technical criterias.”
“We are very proud to be true to our vision of agility, out-of-the-box thinking, and return to shareholders and stakeholders. The speed we have been moving in the Capim Grosso project is good evidence of that,” stated Arno Brand CEO & President.
Gratomic wishes to emphasize that it is undertaking an initial exploration drilling program at the Capim Grosso property along with preliminary metallurgical testing. Gratomic emphasizes that no Preliminary Economic Analysis, Preliminary Feasibility Study or Feasibility Study has been completed to support any level of production. No mineral resources, or mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Capim Grosso property. Gratomic continues to move the Capim Grosso property forward and as part of its business plan, expects to obtain a National Instrument 43-101 Standards of Disclosure for Mineral Projects technical report to help it ascertain the economics of the Capim Grosso project.
No mineral resources, let alone mineral reserves demonstrating economic viability and technical feasibility, have been delineated on the Capim Grosso Property. The Company is not in a position to demonstrate or disclose any capital and/or operating costs that may be associated with the processing plant.
The Company advises that it has not based the preliminary process flow diagram on even the existence of mineral resources let alone on a feasibility study of mineral reserves, demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit.
Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved.
Mr. Oliver Peters, a Principal Metallurgist with Metpro Management Inc., is a Qualified Person within the meaning of NI 43-101. Mr. Peters is satisfied that the analytical and testing procedures used are standard industry operating procedures and methodologies, and he has reviewed, approved and verified the technical information disclosed in this news release, including sampling, analytical and test data underlying the technical information.
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 (Electric Vehicle) 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.
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 (Atomic Layer Deposition) 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 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)