Northern to Develop Carbon Neutral Project
Ottawa, Ontario--(Newsfile Corp. - March 29, 2021) - Northern Graphite Corporation (TSXV: NGC), (OTCQB: NGPHF) (the "Company" or "Northern") is pleased to announce that as part of meeting its environmental and social governance ("ESG") responsibilities, it has retained Minviro Ltd. to carry out a Life Cycle Assessment ("LCA") of the Bissett Creek graphite project. The LCA will quantify the Project's carbon footprint/global warming potential along with other potential impacts and assist in developing mitigation measures. It will also include a scenario analysis to aid in environmentally informed decision making with respect to various process options. Minviro will produce an ISO-compliant (ISO-14040/14044) report that will have been subjected to an external, third party review carried out by a panel of independent LCA experts from academia and industry. It is the Company's intention to make the final report publicly available.
The first part of the LCA will be a 'shovel-to-gate' study to quantify the potential environmental impacts of the Bissett Creek project and generate a detailed life cycle inventory of data (energy and material inputs and associated emissions) for the mining and concentrating of natural graphite ore. Data with respect to the Project's carbon footprint will distinguish between scope 1, 2 and upstream scope 3 emissions along it's value chain, and data will also be generated with respect to four other impact categories.
The scenario analyses will include evaluating the differences in environmental impact between using a diesel versus natural gas mining fleet, natural gas versus diesel power generation and natural gas power generation with a co-generation facility to dry the graphite using waste heat rather than diesel or electricity. The LCA will enable the Company to determine the mitigation measures and offsets required to operate the Bissett Creek Project on a carbon neutral basis.
The second part of the LCA is to benchmark the environmental impact of mining and concentrating natural graphite and upgrading it into battery anode material and comparing it with the production of synthetic graphite and upgrading it into battery anode material.
Gregory Bowes CEO commented that: "The EV and battery industries need to be transparent about the environmental impacts of producing both natural and synthetic graphite and manufacturing battery anode material therefrom. Graphite is the largest single component of a lithium ion battery by weight. The conversion from internal combustion engines to EVs will require multiples of current graphite production and the environmental implications need to be well understood. Northern intends to make Minviro's Report publicly available to lead and encourage discussion on such an important ESG issue."
About Northern Graphite
Northern Graphite is a mineral development and technology company focused on developing its Bissett Creek graphite deposit and upgrading mine concentrates into high value components used in lithium-ion batteries, electric vehicles, fuel cells, graphene and other advanced technologies. An independent study estimates that Bissett Creek will have the highest margin of any existing or proposed graphite deposit due to its very favorable location, simple metallurgy and the high quality of its concentrates which the Company believes will provide a competitive advantage in manufacturing products for the green economy.
Bissett Creek is an advanced stage project with a full Feasibility Study and its major mining permit which puts the Company in position to make a construction decision, subject to financing. The Project is located in the southern part of Canada between the cities of North Bay and Ottawa and close to the Trans-Canada highway providing ready access to labour, supplies, equipment, natural gas and markets.
Minviro was formed to support the global community by ensuring that raw materials used for the low-carbon economy are sourced at minimal environmental cost. Minviro helps mining, mineral processing and refining companies understand, quantify and reduce their environmental impacts through a life cycle assessment ("LCA") which drives sustainability. Since Minviro's formation, a number of mining and metal projects have been able to quantify the environmental impact of the products leaving their project and have been provided with expert insights into how they might minimise these impacts.
Gregory Bowes, B.Sc. MBA, P. Geo., a Qualified Person as defined under National Instrument 43-101, has reviewed and is responsible for the technical information in this news release.
For additional information
Please visit the Company's website at http://www.northerngraphite.com/investors/presentation/, the Company's profile on www.sedar.com, or contact Gregory Bowes, CEO (613) 241-9959
This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward-looking statements in this release include statements regarding, among others; economic and technical studies, graphite prices, project economics, permitting, the development timeline and the graphite market. All such forward-looking statements are based on assumptions and analyses made by management based on their experience and perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. However, these statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected including, but not limited to, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of other parties to perform as agreed; social or labour unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure and the failure of ongoing and contemplated studies to deliver anticipated results or results that would justify and support continued studies, development or operations. Readers are cautioned not to place undue reliance on forward-looking information or statements.
Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
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