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(MoneyNewsWire.Net, September 08, 2015 ) -- Press release Distribution Services -- Vancouver, BC : Codrington Resource Corporation (the “Company”) (TSXV:CA) , (OTC Pink GPOFF), (Frankfurt OGPN), is pleased to announce the filing of a NI 43-101 Technical Report on the L.A.B. Project which is contiguous to the south of Imerys TIMCAL Graphite & Carbon Mine in Quebec, Canada. The TIMCAL Mine is the largest natural graphite producer of only two mines in North America. The L.A.B. Graphite Project is attractive as it is the location of a historical graphite operation, contains a historical graphite resource as defined in the Companies press release of March 31, 2015, and has infrastructure in place from the prior operation. The infrastructure includes a millsite/building with full power service and tailings dam facility, all which appear in good condition. Recent metallurgical test work by SGS Canada on samples obtained from the project returned up to 97.5 C(g), and indicate excellent potential for the production of a high quality graphite concentrate. The Company intends to fund and complete Phase One of the work program outlined in the technical report.
The report filed on SEDAR is titled Lac Aux Bouleaux Graphite Property NTS Map 31J05, Quebec, Canada, by Martin Ethier, P Geo.,Consulting Geologist Hinterland Geoscience and Geomatics of Haileybury Ontario, Canada. In his report, Mr. Ethier defines the property as a project of merit, and recommends a work and product development program estimated to total $ Cdn 450,000. The exploration work will include:
Airborne reconnaissance work to confirm five historical un-tested conductors
1,500 meters of drilling to confirm and potentially expand the historical resource
Further metallurgical test work by SGS Canada, including the evaluation of a bulk sample and the definition of a process by which to enhance the graphite concentrate to 99.9% purity, battery grade.
Evaluation of the market potential for the graphite concentrate product identified to date
CORPORATE DIRECTION AND NAME CHANGE
To better reflect the new company direction, the board of directors are changing the name to NRG Metals Inc., which is anticipated to be completed within the next ten business days. The new trading symbol and further details will be provided shortly. Information on the technical report and other corporate details may be obtained at the new company website, nrgmetalsinc.com.
ABOUT THE MARKET FOR NATURAL GRAPHITE
Natural graphite is used in many applications which include graphite crucibles in refractories, lubricants, brake linings, and more recently, lithium ion batteries ( LIB’s ). Current demand for LIB’s is primarily in consumer electronics, with the future demand drivers expected to be the transportation industry via electric / hybrid vehicles ( Tesla, Ford, GM, etc ) , and the adoption of grid electricity and solar energy storage at the commercial and home levels ( Solar City etc ). LIB graphite demand is currently primarily satisfied by synthetic graphite, which is costly to produce and environmentally damaging. Management believe a significant market is developing for natural graphite which can compete with synthetic on price point, and certainly from environmental acceptance. The L.A.B. Graphite Project is well located to offer the potential to become a natural graphite supplier to this developing market.
The contents of this press release, and the preparation of this press release, was supervised by
Mr. Martin Ethier, géo (#1520) who is a Member of the Order of Geologists of Québec (OGQ) and a “Qualified Person” under NI 43-101.
On behalf of the Board of Directors,
Adrian Hobkirk,
President and CEO
Ph 714-316-3272
Toll Free: 1-855-894-4524
E: ahobkirk@resourceexploration.com
W: www.resourceexploration.com
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.This news release contains certain “forward- looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this news release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this news release. We seek safe harbour.
Codrington Resource Corporation
Adrian Hobkirk, President and CEO
714-316-3272
ahobkirk@resourceexploration.com
Source: EmailWire.Com 
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