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Alabama Graphite rises on first metallurgical results from Bama property

Published: 14:04 24 Sep 2014 EDT

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Shares of Alabama Graphite (CVE:ALP) (OTCQX:ABGPF) jumped on Wednesday after reporting the first set of metallurgical results from sample material on its newly acquired Bama property in Alabama. 

The company told investors the Bama composite sample produced a graphite concentrate that contained a total of 54.7 percent large flake, of which 17.8 percent was in the jumbo flake category. 

For all size ranges coarser than the +150 mesh, the purity exceeded 96.3 percent with the jumbo flake fraction having a purity of 98.5 percent, according to the junior explorer's statement released earlier today.

The company said the 5 kg sample used was taken from the upper 50 feet of the existing Bama mine pit wall, with the test using just simple flotation processing, without chemical or thermal treatment.

"We are tremendously pleased to see such high purity values within a simple flotation, in our first sample of the Bama material," said president and chief executive officer, Ron Roda, in the release. 

"To combine this with over 50% large and jumbo flakes indicate that the Bama property shows excellent economic potential. This combination of flake size distribution, purity and low sulphur content will allow us to support our mission of having one of the greenest graphite operations in the world."

Shares rose 7.55 percent on Wednesday to 28.5 Canadian cents. 

Alabama Graphite is developing its flagship Coosa graphite project in Coosa County, Alabama, as well as Bama in Chilton County. The two projects encompass over 43,000 acres and are located in an area with significant historical production of crystalline flake graphite.

 The company said it is continuing metallurgical studies of its Chilton and Coosa County properties, with detailed flowsheet development in preparation for a preliminary economic assessment at its Coosa project later this year.

Its Alabama deposits are unique in that a significant portion of the graphite-bearing material is oxidized and has been broken down into an extremely soft rock, the graphite explorer said.

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