DELTA, BC, Canada – Logan Copper Inc. (the “Company”, “Logan Copper”, “LC”), (TSX.V: LC) is pleased to announce the acquisition of a second graphite property. This 6,626 acre property, named the “La Piece Perdue” property, is located near the town of Notre-Dame-du-Laus, Quebec, Canada.
The La Piece Perdue Graphite property is located about 130 kilometres North of Ottawa, Ont., and 42 kilometres South of Mont-Laurier, Quebec. (the “Company”, “Logan Copper”, “LC”), (TSX.V: LC) is pleased to announce the acquisition of a 6,626 acre graphite property located near the town of Notre-Dame-du-Laus, Quebec, Canada.
LC’s property, called the “La Piece Perdue Graphite Property”, is located about 130 kilometres North of Ottawa, Ont., and 42 kilometres South of Mont-Laurier, Quebec.
The property has excellent infrastructure and is 100 per cent owned by Logan Copper with no net smelter royalty attached.
La Piece Perdue is located approximately 2.5 kilometres away from the past producing Asbury graphite mine that produced an estimated 70,000 tons of graphite in the 1980’s.
Logan Copper is currently compiling all the historical geological data to prepare for upcoming exploration programs on their La Piece Perdue graphite prospect as well as their 3,266 acre Mayo graphite prospect. Further announcements will be made once the geological / exploration team completes the review of the historical data.
Graphite is a polymer of carbon that comes in three naturally occurring forms - flake, amorphous, and lump. All three are found in metamorphic as well as igneous rocks, varying by grade, particle (mesh) size and moisture content. Graphite exhibits a number of characteristics, which make it a high value industrial mineral with a broad range of applications: it is an excellent conductor of heat and electricity, is resistant to strong acids and thermal shock, is a lubricant, is refractive and has the highest natural strength and stiffness of any known material
The commodity price of natural flake Graphite has steadily increased to over $1,170 per tonne from $694 per tonne in 2009. Industrial demand for graphite is growing at approximately 5 per cent annually.
Of the 1.1 million tonnes of worldwide graphite production, 800,000 tons (73%) comes from China where the closure of a number of natural graphite mines is reducing world-wide supply. Also, the government of China has imposed a duty of 20% plus an additional 17% value added tax on exports of graphite causing increases to prices for consumers. Consumption of graphite continues to grow rapidly through increased use in ion batteries, carbon fibre reinforced plastics, and carbon alloyed metals. Furthermore, additional demand is anticipated for use in fuel cells and the construction of pebble bed nuclear reactors.
Some examples of uses of graphite are: 1. An average fuel cell vehicle will use 80 kilograms of graphite. 2. An electric car will require 25-50 Kilograms of graphite, 3. Pebble Bed Nuclear Reactors require “3,000 tonnes of graphite at start-up and 600 to 1,000 tonnes per year”.
China has one operating prototype of a Pebble Bed Nuclear Reactor and has firm plans to build 30 more by 2020. Researchers at West Virginia University estimate that “500 new 100 GW pebble reactors will be installed in the US by 2020 with an estimated graphite requirement of 400,000 tonnes” (annually).
About Logan Copper Inc.
Logan Copper Inc. is a Canadian mineral exploration company listed on the TSX-Venture Exchange under the symbol LC. Our primary project area, the Logan Lake project, includes the “Dansey”, “Bertha Molly (Lost Mine)”, “Duffy” and “TW” copper properties, which comprise a contiguous 100% owned parcel totalling over 137,900 acres located between Kamloops and Merritt in British Columbia.
The Company owns two graphite properties in the province of Quebec. The first is our Mayo graphite property near the town of Mayo, Quebec that comprises a contiguous 100% owned parcel totalling over 3,266 acres. The second is our newly acquired La Piece Perdue graphite property near the town of Notre-Dame-du-Laus, Quebec that comprises a contiguous 100% owned parcel totalling over 6,626 acres.
This press release contains “forward-looking statements which involve, and are subject to, known and unknown risks, delays, and uncertainties not under the Company’s control. These known and unknown risks, delays and uncertainties may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management of the Company.
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VANCOUVER, May 11, 2012 /CNW/ - The following issues have been halted by IIROC:
Company: Logan Copper Inc.
TSX-Venture Symbol: LC
Reason: At the Request of the Company Pending News
Halt Time (ET): 15:06 PM
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IIROC Inquiries 1-877-442-4322 (Option 3) - Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only. For more information on IIROC's halts and resumptions policy click here.
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LOGAN COPPER ACQUIRES FORMER HIGH GRADE NORANDA GRAPHITE PROPERTY
Up to 85 % Graphite drilled
May 14, 2012
DELTA, BC, Canada – Logan Copper Inc. (the “Company”, “Logan Copper”, “LC”), (TSX.V: LC) is pleased to announce the acquisition of a third Graphite property in Quebec.
This new property, the Carheil Graphite Property (Carheil) was acquired through Quebec’s Gestim system. Carheil encompasses approximately 5,400, 100% owned, contiguous acres with no NSR or work commitment attached.
The Carheil property is located approximately 280 km NNW of Val-d’Or, QC and is approximately 120 km N of La Sarre, QC. Aurizon Mines Ltd.’s producing Casa-Berardi Gold Mine is located approximately 19 km south of LC’s Carheil property. There is an existing road crossing the property which leads to the BHP Billiton Ltd.’s past-producing Selbaie Zinc Mine which is located approximately 20 km east of LC’s Carheil property.
Mr. Thal S. Poonian, President and CEO of Logan Copper commented “LC believes that the Carheil property has the potential to become its flagship graphite property. We look forward to verifying the historical results and defining the project potential”.
A percentage (6.67% or 360 acres) of the 5,400 acre Carheil property was formerly explored by Noranda Exploration Co. Ltd. (Noranda). In August 1975 Noranda completed a geophysical survey covering approximately 300 acres of the Carheil graphite property.
Noranda completed two diamond drill holes in the surveyed area in May of 1978. The first hole was lost in overburden while the second hole number 2-78 was drilled to a depth of 497 feet. Historical diamond drill core log report number GM33862 returned results as follows: