TSX-V: ION 0.135

Champion Graphite

Introduction

The 100% owned Champion Graphite property is located 60km north of Kenora, Ontario, Canada and consists of 29 units in 2 unpatented mining claims. The staked ground covers a large concentration of airborne electromagnetic (EM) anomalies hosted in metasediments. The airborne survey was conducted by Dighem Surveys & Processing Inc in 1989 on behalf of Champion Bear Resources Ltd. Dighem describes the anomalous area as consisting of numerous sub-parallel bedrock conductors of variable strength associated with a highly complex magnetic unit (MNDM assessment files). A year prior to the airborne geophysical survey, historical trenching was conducted by Bellwether Resources Ltd. in 1988. The trenching uncovered graphite occurrences where channel samples returned weighted average grades of up to 1.76% carbon over 25.0m (MNDM assessment files).

Alset field personnel made an initial visit to the property in the spring of 2016 to ground truth a number of the EM anomalies. Using a geophysical instrument designed by Geonics Limited in 1963 known has the Ronka EM 15, the Company identified and confirmed multiple individual conductive zones associated with flake graphite in overburden covered areas. Seven small individual holes dug to bedrock at a depth of approximately 1m over a distance of approximately 1.3km across stratigraphy has identified flake graphite that graded from 1.7% to 8.98% Carbon. Alset is very encouraged with these initial grab samples yet cautions that all the sampling results above are selective grab samples and may not be reflective of the average grade of any of these identified zones.

Permit applications for stripping/trenching and eventual drilling have been obtained from the Ministry of Northern Development and Mines (MNDM). Stripping of overburden and channel sampling in graphite rich zones has been completed and results will be released as they are received.

Maps

Photos

Trenching & Channel Sampling 2016