Las Vegas, U.S.A. – National Graphite, formerly Lucky Boy Silver, has announce that further to its acquisition of 65 claims of 60 hectares each for a total of over 9,600 acres in Lochaber Township in Quebec, Canada, management has applied and received approval to change the Company’s name to National Graphite to better represent the overall direction of its major exploration and development program.
The Company will commence trading under its new symbol NGRC on Wednesday June 6, 2012. The Company has a newly expanded website under construction which will reflect its mineral Graphite projects with the domain name of www.nationalgraphitecorp.com.
Graphite occurs in metamorphic rocks as a result of the reduction of sedimentary carbon compounds during metamorphism. According to the United States Geological Survey (USGS), world production of natural graphite in 2008 was 1,110 thousand tonnes (kt), of which the following major exporters are: China (800 kt),India (130 kt), Brazil (76 kt), North Korea (30 kt) and Canada (28 kt).
The rise of the Lithium-ion battery has caused great excitement in the graphite industry in recent times. Demand for batteries (primarily nickel-metal-hydride and to a lesser extent Li-ion) caused a surged in graphite demand in the late 1980s and early 1990s – driven by portable electronics such as the walkman and power tools. Batteries are the fastest growing end use for graphite.
The advent of the laptops, mobile phones and the Apple iPad and iPhone products has increased the demand for batteries. But it is electric vehicles that hold the potential to see graphite demand boom. For example, the Li-ion battery in the fully electric Nissan Leaf contains nearly 40 kg of graphite.
Continued development of Nevadasilver and gold claims
The Company’s Candelaria silver properties are located in the Walker Lane Mineral Belt in westernNevada. The Walker Lane is a major northwest-southeast-trending zone which displays right lateral fault movement that ranges from 30 to 40 miles in its central portion, and hosts a variety of precious metal and base metal mineral deposits (as well as geothermal activity) along its length.
The mineralization on the Candelaria prospect is primarily silver mineralization with some gold, lead and zinc exposed at the surface and trending east-west across the northern edge of the claims.