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Northern Graphite Commences High Resolution VTEMTM Plus Airborne Survey on South Okak Ni-Cu-Co Project
June 29, 2022: Northern Graphite Corporation (NGC:TSX-V, NGPHF:OTCQB, FRA:ONG, XSTU:ONG) (the “Company” or “Northern”) is pleased to announce the commencement of a high resolution, horizontal magnetic gradient and electromagnetic (“VTEMTM Plus”) airborne survey on its South Okak Ni-Cu-Co Property in Labrador. Geotech Ltd. of Aurora, Ontario has been commissioned to carry out the VTEMTM Plus survey over the entirety of the South Okak Property. Approximately 1,450 line kilometres of data will be collected. The survey will provide better definition of all known targets on the Property, potentially uncover new targets and provide valuable information in preparation for the Company’s 2023 Phase 1 drill program. All permits have been received from the Newfoundland and Labrador and Nunatsiavut Governments to commence the survey. The South Okak Property consists of 473 claims covering 11,825 hectares that are prospective for magmatic nickel sulphide deposits similar to Vale’s Voisey Bay Mine which is located 80 kilometers to the south. The South Okak area returned some of the best intersections outside of Voisey’s Bay in the 1990s with limited follow up due to a subsequent decline in nickel prices. Exploration efforts during Northern’s 2021 program confirmed the presence of significant Ni-Co-Co values from numerous gossans on the Property. Geological work during 2021 has also helped to better define structures and controls on mineralization at South Okak which enabled the airborne survey to be better oriented to maximize detection of EM conductors related to mineralization. “South Okak adds an exciting exploration element to the Company and provides potential diversification into other high demand battery minerals,” commented Hugues Jacquemin, Northern’s CEO. Northern has an option to earn up to an 80 per cent interest in the South Okak Property by spending $1.5 million on exploration over four years and making milestone payments of $550,000 in cash and shares (see June 8, 2021 Press Release). IWA is a shareholder of Northern Graphite Corporation
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