TORONTO, ONTARIO--(Marketwired - Aug. 25, 2014) - Energizer Resources Inc. (TSX:EGZ)(OTCQX:ENZR)(WKN:A1CXW3) ("Energizer" or the "Company") is pleased to announce that Stormcrow Capital Ltd. ("Stormcrow"), a Canadian research and technical consulting firm specializing in critical materials, has initiated equity analyst coverage of Energizer Resources.
The initiation research report dated August 25, 2014 on Energizer Resources is available on Stormcrow's corporate research website at www.stormcrow.ca/research/ or by contacting the analyst, Dr. Jon Hykawy at Stormcrow. For more information or questions about Energizer and the Molo Project, please call investor relations at +1.416.364.4911.
All reports on Energizer prepared by analysts represent the views of such analysts and are not necessarily those of Energizer. The Company is not responsible for the content, accuracy or timelines contained in an analyst's report. In addition, readers should be aware, and are cautioned, that opinions, estimates, or forecasts contained in research analyst reports are not subject to the requirements of Canadian National Instrument 43-101 ("NI 43-101") "Standards of Disclosure for Mineral Projects". As such, Energizer does not imply that any of the reports, opinions, estimates, or forecasts regarding Energizer made by research analysts complies with NI 43-101. Readers should only refer to the technical report(s) of Energizer relating to the Molo Graphite Project for information about the project prepared in accordance with NI 43-101.
About Energizer Resources
Energizer Resources is a mineral exploration and mine development company based in Toronto, Canada, that is developing its 100%-owned, flagship Molo Graphite Project in southern Madagascar.
The Molo is one of the largest known all-flake graphite deposits in the world and hosts a NI 43-101 compliant Measured resource of 23.62 million tonnes (MT) grading 6.32% carbon (C), an Indicated resource of 76.75 MT grading 6.25% C and an Inferred resource of 40.91 MT at 5.78% C, for a combined total of 141.28 MT at 6.13%C.
Energizer is at the full feasibility stage, with the Study to be released by the fourth quarter of 2014. Results of the Company's recently completed pilot plant operation confirmed that 43.5% of the Molo deposit is classified as the premium-priced large and extra-large flake, with an average purity level in excess of 97%C achieved through standard flotation alone. The Company is targeting production in the second or third quarter of 2016.
Energizer's total land package in southern Madagascar encompasses approximately 320 kilometres (198 miles) of continuous graphitic trends, where all graphite mineralization is immediately at surface. In addition to the Molo Graphite Project, Energizer has also identified through drilling, trenching and geological mapping at least six other zones that could be potential stand-alone graphite deposits.
For more information on the Molo Graphite Project, please refer to the Company's technical report entitled "Molo Graphite Project, Fotadrevo, Province of Toliara, Madagascar, Preliminary Economic Assessment Technical Report Update" dated April 12, 2013 available under the Company's profile at www.sedar.com for a discussion in respect of certain key assumptions, parameters and methods in respect to the mineral resource disclosure, or our visit our website at www.energizerresources.com.
Other than noted below, Mr. Craig Scherba, P.Geo., President and COO is the qualified person who reviewed and approved the technical information provided in this press release.
Safe Harbour: This press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.
The National Instrument 43-101 ("NI 43-101") compliant technical report, titled "Molo Graphite Project Fotadrevo Province of Toliara, Madagascar Preliminary Economic Assessment Technical Report Update and dated April 12, 2013, was prepared by DRA Mineral Projects Pty Ltd and authored by John Hancox, Pri.Sc.Nat, Desmond Subramani, Pri.Sc.Nat, Dave Thompson and Glenn Bezuidenhout, all Qualified Persons as defined by NI 43-101, and independent of Energizer Resources for the purposes of NI 43-101 requirements. The Technical Report is available on SEDAR at www.sedar.com and on the Company's website at www.energizerresources.com
The above resource estimates were calculated in accordance with NI 43-101 as required by Canadian securities regulatory authorities. For United States reporting purposes, Industry Guide 7 (under the Securities Exchange Act of 1934), as interpreted by the Staff of the SEC, applies different standards in order to classify mineralization as a reserve. Among other things, the terms "measured", "indicated" and "inferred" mineral resources are required pursuant to National Instrument 43-101, the U.S. Securities and Exchange Commission does not recognize such terms. Canadian standards differ significantly from the requirements of the U.S. Securities and Exchange Commission, and mineral resource information contained herein is not comparable to similar information regarding mineral reserves disclosed in accordance with the requirements of the U.S. Securities and Exchange Commission.
Mineral resources are not mineral reserves and do not have demonstrated economic viability. The mineral resource estimates in this press release include inferred resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that the inferred mineral resource will be converted to the measured and indicated mineral resource categories through further drilling, or into a mineral reserve once economic considerations are applied. U.S. investors should understand that "inferred" mineral resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. In addition, investors are cautioned not to assume that any part or all of the Company's mineral resources constitute or will be converted into reserves. Cautionary Statement: Neither TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.