UPDATE: Focus Graphite Reports New Exploration Drilling Results at Lac Knife; Shares in the Red at Midday
Focus Graphite Inc. (FMS.V) today reported the results of the fall 2012 exploration drilling program on the Lac Knife Property located in the Grenville Geological Province of northeastern QuÃÂ©bec. Twelve NQ-sized core holes (total: 1,384 m) were drilled to test the strike-length extension of the Lac Knife graphite deposit up to 375 m to the South of the deposit's West limb.
The 12 exploration holes were spread over four drill fences spaced 100 m apart.
Hole LK-12-170 drilled 175 m south of the deposit on Line 900 S returned the best graphitic carbon (Cgr) intersection
Hole LK-12-170: 66.8 m grading 14.68 % Cgr (from 54.9 to 121.7 m), including:
8.0 m grading 21.73% Cgr (from 54.9 to 62.9 m),
21.7 m grading 17.99% Cgr (from 70.0 to 91.7 m) and
21.3 m grading 18.22 % Cgr (from 100.4 to 121.7 m)
Significant graphite intercepts were still encountered up to 375 m south of the deposit.
Focus, which was up 1 cent (1.45%) to 70 cents in early trade, has now slipped to 68 cents at midday. Volume traded is 264,000.
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