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Graphite One Resources Inc. Relinquishes option On Kelly Creek Gold Property to Focus on Graphite Creek Property

Posted by AGORACOM-JC at 1:16 PM on Friday, May 25th, 2012

May 24, 2012 — May 24, 2012 – Calgary, Alberta – Graphite One Resources Inc. (gph:TSX-V) (“Graphite One” or the “Company”) announces that it has relinquished its option to acquire a 100% interest in the Kelly Creek property consisting of 105,280 acres (42,605 hectares) located on the Seward Peninsula, Alaska, 145 kilometres north of Nome effective as of May 24, 2012. The Company has decided to focus its efforts and capital on graphite and specifically the Graphite Creek Property.

Pursuant to an Option Agreement dated March 26, 2010 with a third party vendor (the “Optionor”) (please see the Company’s press release dated March 26, 2010) the Company acquired the option to purchase 100% of the Kelly Creek project at any time for a period of six years. Total consideration consisted of payments of US$1,500,000 million (of which US$100,000 has been paid) and expenditures of $2,150,000 (of which approximately $4,300,000 has been incurred) in exploration expenditures with the Optionor retaining a 5% net smelter return royalty. In conjunction with the relinquishment of the Kelly Creek Property Option the Company intends to write-off all capitalized balances of approximately $4,900,000 related to this project on its March 2012 interim financial statements.

The Company is now focused primarily on its Graphite Creek Property located at the Seward Peninsula of Alaska, 65 kilometres north of Nome. The 2012 exploration program has commenced at Graphite Creek with an airborne geophysical survey. The helicopter borne survey will be conducted by SkyTEM Canada Inc. (“SkyTEM”) and will comprise both magnetics and electromagnetics (SkyTEMs’ Dual-Moment, Time-Domain Electromagnetic (“TDEM”) System). The survey will be flown at 50 metre spaced lines and will total approximately 690 total line kilometres. The survey is part of an aggressive $4.5 million dollar exploration program at the Graphite Creek Property. The program will consist of prospecting, geological mapping, sampling and drilling along conductors delineated from the airborne survey and previously defined graphite-bearing schist. The goal of the 2012 exploration program is to move the Graphite Creek Project towards a National Instrument 43-101 compliant resource.

About Graphite Creek

The Graphite Creek Property comprises 72 claims totaling 3,108 hectares on the Seward Peninsula of Alaska, 65 kilometres north of Nome. Mineralization at the Graphite Creek Property is characterized by coarse crystalline (large-flake) graphite (>80mesh) within graphite-bearing schist(s). Graphite mineralization is exposed at surface. The large-flake graphite occurs as disseminations and high-grade segregations and lenses in distinctive garnet-bearing quartz biotite schist(s). The host schist(s) is continuous over 5 kilometres of strike length, based on mapping, and has an approximate thickness of 100 metres, and is exposed down dip 100 to 200 metres, thus indicating the potential for 150 to 250 million tonnes of graphite-bearing rock. The estimate of potential tonnage is based on the Company’s geological mapping in 2011. Two samples were collected during 2011 of the graphite-bearing schist contain 9.1 to 21.8% graphite, respectively. A sample collected within a high-grade lense within the schist contained 56.9% graphite. A historical composite chip sample across a 16 metre outcrop of graphite-bearing schist contained 8.36% graphite. Other schists in the area contain 2 to 6% graphite. The potential size and grade of the mineralization at the Graphite Creek Property is conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in discovery of a mineral resource. The Property is 3 kilometres away from intertidal waters at Windy Cove, approximately 20 kilometres away from road systems, and 3 kilometres from an airstrip to the southeast.

About Graphite One Resources Inc.

GRAPHITE ONE RESOURCES INC. (gph:TSX-V) is a mineral exploration company with extensive experience in the State of Alaska and a business strategy to identify, acquire, and explore high potential projects ready for rapid advancement. The Graphite Creek Property on the Seward Peninsula of Alaska fits with the Graphite One business strategy offering significant potential for the discovery and development of a large-flake, graphite deposit exposed at surface. Graphite One has an option to earn a 100% interest in the Graphite Creek Property and plans to rapidly advance the Property to a NI 43-101 compliant resource.

The graphite market is only beginning to open up as green technology takes more precedence in the world today. Graphite is vital for lithium-ion batteries, pebble bed nuclear reactors, and fuel cells amongst other uses. Graphite has been named a “supply critical mineral” and a “strategic mineral” by the USA and European Union as more demand is being created that surpasses the supply threshold. This has allowed for the price of graphite to rise, as over the past 7 years the price has nearly tripled.

ON BEHALF OF THE BOARD OF DIRECTORS

(signed) “Anthony Huston”

For more information on Graphite One Resources Inc. please visit the Company’s website, www.GraphiteOneResources.com or contact:

Anthony Huston President & Director Tel: (604) 697-2862 Email: [email protected]

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.

This release includes certain statements that may be deemed to be forward-looking statements. All statements in this release, other than statements of historical facts that address access to capital, regulatory approvals, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at

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Zenyatta Ventures; 450 Metre Step-Out Hole Yields 6.6% Graphite over 170.0 Metres Including 7.1% over 76.0 Metres

Posted by AGORACOM-JC at 4:20 PM on Thursday, May 24th, 2012

THUNDER BAY, ONTARIO–(May 24, 2012) – Zenyatta Ventures Ltd. (“Zenyatta” or “Company”) (TSX VENTURE:ZEN) is pleased to provide the following significant assay results from the current drilling campaign on the Albany Graphite Deposit.

Drill Hole #5 intersected a very large mineralized zone of graphitic breccia and veining, from 44.0 to 214.0 metres (‘m’) grading 6.6% C (graphite) over 170.0m. The upper graphite zone, from 44.0 to 132.0m, yielded 6.5% C over 88.0m while the lower graphite zone, from 138.0 to 214.0m graded 7.1% C over 76.0m. Individual samples assayed as high as 13.1% C.

Hole #5 (Z12-4F5) was collared 450 metres (‘m’) east of the original discovery drill hole (Z11-4F1) and drilled in a northerly direction at -65.

Aubrey Eveleigh, President and CEO stated “Hole 5 intersected an incredible grade and width of graphite mineralization on the eastern portion of the geophysical anomaly. This is our best drill hole to date and confirms that Zenyatta has discovered an extensive and unique graphite-rich deposit. The Company is very excited with these remarkable results from a large step-out drill hole.”

Drill hole #4 (Z12-4F4) was collared from the same setup as hole #5 but drilled in a southerly direction. From 47.0m to 61.8m the drill hole intersected a zone of graphitic veining and breccia followed by graphitic overprinting from 61.8m to 170.0m. At the 170.0m point, the drill encountered mechanical problems related to a detached drill string. The drill string could not be re-attached and the hole was subsequently abandoned. This particular area of the geophysical anomaly will be re-drilled at a later date. Results are still pending.

The graphite discovery is located 30km north of the Trans Canada Highway, power line and natural gas pipeline. A rail line is located 70km away and an all-weather road approximately 4-5km from the graphite deposit. The Albany graphite deposit is near surface, underneath glacial till overburden.

Mr. Aubrey Eveleigh, P.Geo., President and CEO, is the “Qualified Person” under NI 43-101 and has reviewed the technical information contained in this news release. Analyses was carried out by ALS Chemex Labs using a total carbon (LECO) method code of C-IR07. To find out more on Zenyatta Ventures Ltd., please visit our website www.zenyatta.ca.

This News Release includes certain “forward-looking statements”. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company’s mineral properties, and the Company’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

Neither 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.

Contact Information

 

Zenyatta Ventures Ltd.
807-346-1660
[email protected]
www.zenyatta.ca

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Focus Metals Changes Its Name to Focus Graphite Inc.

Posted by AGORACOM-JC at 4:15 PM on Thursday, May 24th, 2012

OTTAWA, ONTARIO–(May 24, 2012) – Focus Metals Inc. (TSX VENTURE:FMS)(OTCQX:FCSMF)(FRANKFURT:FKC) (the “Corporation”) is pleased to announce that following the approval of a special resolution by the Corporation’s shareholders at the annual and special meeting of shareholders of the Corporation held on May 3rd, 2012 in Ottawa, Ontario, the Corporation has changed its name and will now trade on the TSX Venture Exchange (the “Exchange”) under the name “Focus Graphite Inc.” as of May 25, 2012. The Corporation will continue trading on the Exchange under the stock symbol “FMS”.

Focus Graphite President and CEO Gary Economo said the change in corporate identity represents a truer description of the company’s core business activities.

“Focus Graphite represents a turning point for us and for our shareholders as we prepare to transition out of pre-development at Lac Knife and into development during the course of the coming year to 18 months” Mr. Economo said.

“Our aim is to develop and then manufacture the best technology graphite in the world,” he said. “Additional shareholder value will come from our investment in commercialized graphene through our joint venture partner, Grafoid Inc.”

On May 7, 2012, Focus Metals Inc. and Hydro-Québec’s world-leading research institute, IREQ, announced the signing of a licensing agreement enabling the development of a graphite purification facility and a graphite anode production facility for lithium-ion (Li-ion) batteries.

Mr. Economo said the agreement provided a critical pillar in building Focus Graphite’s mine-to-end-user supply chain structure.

About Focus Graphite

Focus Graphite Inc. is an emerging mid-tier junior mining company, a technology solution supplier and a business innovator. It is the owner of the highest-grade (16%) technology graphite resources in the world. The company’s goal is to assume a dominant industry leadership position by becoming the lowest-cost producer of technology-grade graphite. As a technology-orientated enterprise with a view to building long-term, sustainable shareholder value, Focus Graphite is invested in the development of graphene applications and patents through Grafoid Inc.

Forward Looking Statements – Disclaimer

This news release may contain forward looking statements, being statements which are not historical facts, and discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company’s expectations are in our documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com

Neither 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.

Contact Information

 

Gary Economo
President and Chief Executive Officer
613-691-1091,ext. 101
[email protected]

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Energizer Resources Selects Molo Deposit for Mine Development;

Posted by AGORACOM-JC at 9:14 AM on Thursday, May 24th, 2012

Drills 106 m of 8.44% C including 37 m of 11.17% C

TORONTO, ONTARIO–(May 24, 2012) – Energizer Resources Inc. (TSX:EGZ)(OTCBB:ENZR)(FRANKFURT:YE5) (“Energizer” or the “Company”) is pleased to announce the receipt of all graphite assays from its Phase I and II exploration programs conducted in Q4, 2011. These assays confirm wide intercepts of graphite mineralization with composite grades between 7.3% and 11.2% carbon ( C ) within the Molo Deposit, and support the Company’s intention to delineate a National Instrument (NI) 43-101 resource for the Molo. The Molo graphite deposit is located on the joint venture (JV) property with Malagasy Minerals Limited in Madagascar, in which Energizer has a 75% ownership interest.

Molo Deposit Selected for Mine Development; NI 43-101 Resource Drilling Initiated

The Company’s most recent exploration program, which included airborne surveys, ground geophysics, mapping, trenching and 29 diamond drill holes, has provided the basis to evaluate several potential graphite deposits on its properties. The objective of this evaluation was to select which deposit would present the best overall parameters, including economics and quality of product, to move forward to production. Included in the analysis were the Molo, Fondrana, Fotsy and Seta deposits.

This evaluation has now been completed and the Company has selected the Molo Deposit to be brought to mine development. The Company intends to expedite this process and is targeting 2014/2015 for production. It should be noted that this evaluation included metallurgical analysis, which confirms that jumbo flake (i.e. +50 mesh) graphite at an average purity of 93% C can be easily liberated through simple crushing of the Molo deposit graphite.

The Company is targeting a resource between 50 and 100 million tonnes on the Molo Deposit with a grade range of between 6 to 10% C. The resource drill program has commenced, utilizing two Boart Longyear diamond drills and is being led by Energizer’s Senior Vice President of Exploration, Craig Scherba, P. Geol. Drilling is estimated to take two months.

Molo Deposit Has Key Mining Attributes

A key characteristic of the Molo deposit is that the graphite is immediately at surface, which will allow for very cost-effective open pit mining. In addition to having the significant surficial expression of graphite, the Molo is also located in an area with an ideal geographical setting as well as ideal terrain. The terrain is semi-arid and almost flat – two features that give the Molo a unique topographical signature not found in most deposits. The climate also adds to the ease of mining, as this area of Madagascar has a very temperate climate with a mild rainy season from December to March.

The local Malagasy people are excellent workers who have offered great cooperation and assistance to Energizer. As the largest employer in the region, Energizer has hired up to 100 people at any one time to support its exploration programs.

Assay Results

Drill hole MOLO-07 was from the central core of the Molo deposit and intersected 106 metres of graphite mineralization at 8.44% C, including a higher-grade interval of 37 metres at 11.17% C.

Drill hole MOLO-06 intersected 27 metres of graphite mineralization at 7.25% C and was drilled into a surficially exposed graphitic ridge 1 kilometre to the west, and parallel to the Molo deposit. These latest assay results confirm that this surficially exposed graphitic ridge (which extends for a minimum of 12 kilometres in strike length), extends to a vertical depth of at least 108 metres.

Drill holes SETA-02 and SETA-03 intersected 41 metres of graphite mineralization at 5.42% C and 28.6 metres of graphite mineralization at 5.77% C respectively. These drill holes were emplaced to test the depth extension of a 1.8 kilometre long ridge of graphite. The results confirm graphite mineralization extends to depth. Due to the wider widths of mineralization intersected at the Molo however, the focus of the Company’s resource delineation program will be the Molo Deposit.

Mr. Albert A. Thiess, Jr. appointed Company Director and Chair of Capital Projects and Mine Development Committee

Energizer is pleased to announce the appointment of Mr. Albert A. Thiess, Jr. to the Company’s board of directors and as Chair of its Capital Projects and Mine Development Committee (the “Committee”) effective May 22, 2012.

Mr. Thiess brings over 35 years of accounting, finance and management experience to the Company. Mr. Thiess served as a CPA and audit partner in Coopers & Lybrand, LLP and with PricewaterhouseCoopers LLP following the merger of those firms in 1998. He served clients in the automotive, banking, retail and manufacturing industries, as well as serving as the Managing Partner of the Detroit, Michigan and Los Angeles, California offices. He also was elected to the Governing Council of Coopers & Lybrand. Following the merger with PricewaterhouseCoopers, Mr. Thiess managed various global functions for the newly merged firm.

Peter D. Liabotis, C.A., the Company’s Vice President of Finance, has also been appointed to the Committee. Mr. Liabotis is a Chartered Accountant with over 15 years of accounting experience, auditing for both KPMG and PriceWaterhouseCoopers. From 1998 to 2008, Mr. Liabotis worked for Olympia Capital, a hedge fund administrator where he served as Senior Vice President – Chief Financial Officer.

These appointments further reflect the Company’s ongoing commitment to move the Company’s graphite discovery in Madagascar on its 75% owned joint venture ground to a mine. Both Mr. Thiess and Mr. Liabotis join Robin Borley, who was announced to the Committee in the Company’s January 25, 2012 news release.

Mr. Borley is a Director of DRA and a Graduate Mining Engineer and Certified Mine Manager with over 25 years of International Mining experience across a range of commodities. Mr. Borley brings considerable knowledge and experience to the technical and operational aspects of mine development, which will be invaluable to the Company as it develops its projects in Madagascar.

Qualified Person

Craig Scherba, Senior Vice President Exploration and Operations for Madagascar, P.Geol., is the qualified person for the technical information provided in this release.

For more information on graphite and graphene, please visit our website at www.energizerresources.com

We seek 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.

Contact Information

  • Energizer Resources Inc.
    Brent Nykoliation
    Vice President – Business Development
    Toll Free: 800.818.5442 or 416.364.4911
    [email protected]Energizer Resources Inc.
    Kirk McKinnon
    Chairman and CEO
    Toll Free: 800.818.5442 or 416.364.4911
    www.energizerresources.com

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Flinders drills 13.6m @ 11.8% graphitic carbon at Kringel project in Sweden

Posted by AGORACOM-JC at 9:04 AM on Thursday, May 24th, 2012

VANCOUVER, May 24, 2012  – Flinders Resources Limited (“Flinders”) (TSXV:FDR). Mr. Martin McFarlane, President & CEO, is pleased to announce the results from the first 10 holes of a 37 drill hole program at the Kringel deposit in Sweden.  Results include 13.6m @ 11.8% graphitic carbon (“Cg”) from 49m in drill hole KRI12DD003 and 18.3m @ 7.6% Cg from 68.1m in drill hole KRI12DD007.

The aims of the drill program are to reclassify the historic graphite resources estimates to current NI 43-101 standards and test for extensions of the deposit below 50 metres and along strike.  To date 25 drill holes for 2437 metres have been completed.   It is anticipated that the drill program will be completed by mid June 2012, with the resources calculation to be completed around the end of July 2012.

Mr McFarlane states: “Our drilling has met or exceeded all expectations.  We have verified that graphite mineralization shows continuity of width and grade along strike and down dip and is consistent with historical data.  Additionally, drilling has extended known mineralization to 100 metres depth and new graphite zones have been identified parallel to and down dip from known mineralization.  This provides a great opportunity to potentially scale up future production from the Kringel mine site area, in order to meet growing demand for high purity flake graphite.”

A summary of all graphite intercepts greater than 5 metres in width is shown below in Table 1. In addition multiple graphite intercepts of less than 5 metres in width have also been recorded but are not reported here. A plan showing the Kringel mine lease, historic drilling and the location of the current program is shown in Figure 1, cross sections of the Kringel graphite deposit are shown in Figures 2 and 3 while Figure 4 shows the location of these sections.

The Kringel Graphite Project was the subject of substantial drilling by previous owners, and has an historic resource estimate of 6.9 million tonnes containing 8.8% graphite in 4 separate deposits.  Historic resources at the Kringel mine site are 1.3 million tonnes @ 11.3% graphite. The historical resource estimates quoted are based on a NI43-101 report prepared by Albert Thamm of Coffey Mining in November 2011 which is available on SEDAR. The historic resource was calculated using a polygonal method and is broadly similar to CIM definitions “Indicated” and “Inferred”. Data is historical in nature and was compiled prior to the implementation of NI 43-101 reporting standards. Flinders has not completed sufficient exploration to verify the estimates. Flinders is not treating them as National Instrument defined resources or reserves verified by a Qualified Person, and the historical estimate should not be relied upon. The Company does not have, and is not aware of, any more recent resource estimates that conform to the standards set out in National Instrument 43-101.

The qualified person for the Kringel project is Mr. Geoff Reed, a consultant to Flinders Resources Limited and Member of the Australian Institute of Mining and Metallurgy (CP), has reviewed and verified the contents of this release. Assaying was completed by ALS Chemex in their Vancouver Laboratory.  The technique used for determining graphitic carbon was Leco Direct combustion and infrared absorption, ALS Chemex method code C-IR06. Drill holes were sampled over 1 metre intervals.   Duplicates, repeats and blanks were inserted according to standard industry practice. It is interpreted that reported drill hole intercepts approximate the true width of mineralization.

On behalf of the Board

“Martin McFarlane”
Martin McFarlane, President and CEO

Certain information set out in this news release may constitute forward-looking information. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in the forward-looking statements contained in this document, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. These statements are made as at the date hereof and unless otherwise required by law, the Company does not intend, or assume any obligation, to update these forward-looking statements.

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 news release.

 

Table 1: Summary of graphite intercepts greater than 5m wide

Hole ID Graphitic
Carbon (%)		 Width (m) From
Depth (m)
KRI12DD001 10.7 6.2 9.2
KRI12DD001 4.9 7.0 31.1
KRI12DD002 7.6 12.6 41.2
KRI12DD002 5.2 13.0 59.8
KRI12DD007 7.6 18.3 68.1
KRI12DD007 8.7 5.0 90.5
KRI12DD003 11.8 13.6 49.0
KRI12DD003 9.5 11.3 89.5
KRI12DD003 5.1 7.2 100.8
KRI12DD006 7.9 15.8 88.7
KRI12DD006 7.6 15.3 106.5
KRI12DD008 9.3 9.4 59.8
KRI12DD009 8.9 14.0 43.8
KRI12DD010 8.2 14.3 35.2

 

 

 

PDF available at: http://stream1.newswire.ca/media/2012/05/24/20120524_C2308_DOC_EN_14129.pdf

PDF available at: http://stream1.newswire.ca/media/2012/05/24/20120524_C2308_DOC_EN_14130.pdf

PDF available at: http://stream1.newswire.ca/media/2012/05/24/20120524_C2308_DOC_EN_14131.pdf

PDF available at: http://stream1.newswire.ca/media/2012/05/24/20120524_C2308_DOC_EN_14132.pdf

For further information:Jim Powell +1 647-478-5806
[email protected]

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Galaxy Capital Corp. Acquires Laurier Graphite Property in Ontario

Posted by AGORACOM-JC at 1:38 PM on Wednesday, May 23rd, 2012

VANCOUVER, BRITISH COLUMBIA–(May 23, 2012) – Galaxy Capital Corp. (TSX VENTURE:GXY) (the “Company” or “Galaxy”) is pleased to announce that it has signed an agreement to acquire a 100-per-cent interest in the Laurier Graphite Property, Ontario.

Laurier Graphite Property

The Laurier Graphite property is located in Laurier Township, ON, approximately 40 km SSE of North Bay, ON. The property is located in the highly prospective Central Metasedimentary Belt of the Grenville geological province, host to many active graphite projects. The host rocks for the target zone are graphitic paragneisses. The property properties cover a total of approximately 2300 hectares on 46 mining claims.

The property was described in Ontario Geological Survey (OGS) Open File Report 5649, published in 1987. The report is entitled “Graphite in the Central Gneiss Belt of the Grenville Province in Ontario.” The property has road access from Highway 11, which is 5 km to the west. The report describes four graphite occurrences, two of which are currently being prepared for production. These are referred to in the report as Butt Township (which is the Kearney Mine) and Maria Township (the Bissett Creek deposit).

Work performed on the Laurier property by the OGS described N-S trending graphitic schist units varying from 25 to 250m in width with 1.0mm (16 mesh) graphite flakes disseminated throughout. In addition, a 1-2m wide vein of massive graphite was reported.

The Company cautions that it has not verified the quality and accuracy of the historic data reported in this news release, which predate the introduction of National Instrument 43-101 and cautions readers not to rely upon them. The historic information was generated from the OGS report cited above. This source is believed to be reliable; however, it has not been confirmed by the company’s Qualified Person.

A field program, consisting of ground geophysics (VLF/Mag), prospecting, mapping and sampling, is planned for June 2012.

Chris Healey, President of Galaxy commented, “With this acquisition, along with the Sun and Buckingham graphite properties previously announced, Galaxy now has an excellent portfolio of quality graphite projects. With the recently closed financing, Galaxy is in a position to aggressively explore these projects starting in the coming weeks and to expedite them to an advanced stage.”

Update on Other Properties

SUN Property, NW of Baie-Comeau: field work on this property is expected to commence in late May, consisting of mapping, prospecting and sampling, to define drill targets. This will be followed by a 3000 metre summer diamond drill program.

Buckingham, East of Ottawa: Field work will commence in late May with a helicopter-borne EM/Mag survey, followed immediately by ground follow-up.

Terms

Galaxy has an option to earn a 100-per-cent interest in the Laurier Graphite Property, Ontario from Gino Chitaroni by making the following payments and issuing the following common shares to the vendors: i) $10,000 upon signing the letter agreement (paid), ii) $40,000 and 1,000,000 common shares on receipt of the TSX Venture Exchange (“TSX-V”) acceptance of the agreement, iii) and $50,000 and 500,000 common shares twelve months from TSX-V acceptance.

The vendor will retain a 2-per-cent net milling royalty on the property, half of which can be purchased by Galaxy for C$1,000,000 and a further quarter for $500,000.

Chris M. Healey P.Geo, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this release.

ON BEHALF OF THE BOARD

Chris M. Healey, President and CEO

We seek safe harbor.

Neither 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.

Contact Information

  • Galaxy Capital Corp.
    Chris M. Healey
    President and CEO
    (604) 921-1810
    (604) 921-1898 (FAX)

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Syrah Resources intersects 288m of graphite at Balama, brings forward target date for maiden Resource

Posted by AGORACOM-JC at 11:29 AM on Wednesday, May 23rd, 2012

Syrah Resources (ASX: SYR) has intersected almost 288 metres of high grade graphite mineralisation from surface at its Balama Project in Mozambique, with further exploration upside that the mineralised zone is likely to continue for some depth beyond what has been discovered so far.

Drilling at Balama is reinforcing its high grade nature, with graphite similar in grade to what was previously discovered in overlying trench T5, which averaged 12.7% graphitic carbon.

The first diamond drill hole measured about two thirds of the down dip extent of T5, with the average grade of this portion about 15.7% total graphitic carbon.

The graphite flakes also appear to be predominately coarse to very coarse in size, which is extremely promising as coarse flake graphite generally attracts higher sales prices.

What is important to note here is the entire intersection was graphite bearing, which indicates the widespread nature of the mineralisation.

Importantly, the first diamond hole intersected only a small section of the entire cross section across graphite bearing horizons on Mount Nassilala.

Graphite mineralisation at Balama has been mapped over a strike of greater than 7 kilometres.

To the west, the mineralisation is hosted on Mount Nassilala which rises about 200 metres from the surrounding plains.

Potentially, the entire mountain may consist of graphitic schists as there are no significant exposures of any other type of rock on the entire mountain.

To the east, the graphite wraps around the southern boundary of Mount Coronge, a granite intrusion.

The graphite in this area appears to be quite a higher grade and coarser flake than the graphite on Mount Nassilala.

To the north of the mountains the graphite mineralisation extends underneath the plains based on graphite observed in pits dug into the plains by locals fossicking for tourmaline gemstones.

Due to the cover it is not presently known how far to the north the graphite mineralisation extends.

Balama has already differentiated itself from graphite deposits in Canada, Europe and Australia through its large tonnage potential, high grade and coarse flake size, which is being revealed through exploration and metallurgical work.

Previously announced metallurgical testwork showed that Balama contains medium to coarse grained graphite that can easily be upgraded to a high grade 94%C concentrate at high recoveries.

Further upside to the project is the associated highly anomalous vanadium geochemistry, which is widespread and provides the potential for vanadium credits.

Drilling progress

Syrah has begun drilling the second hole, which has reached a depth of 23.5 metres and has already intersected graphite mineralisation across its entire length.

Visually the graphite appears very similar in grade and flake size to that of the first hole.

First assays from drilling are expected in early July.


Maiden resource

Syrah is estimating a drill rate of around 100 metres per day, which amounts to a one hole every three days.

A reverse circulation rig is also expected to mobilise to site within the next few weeks.

This means Syrah anticipates delivery of a maiden JORC Resource much earlier than the previously anticipated March quarter of 2012.

The company now expects to release an initial resource before the end of 2012.

Strategic Location

The Balama Graphite Project is a 106 square kilometre granted prospecting licence located within in the Cabo Delgado province in the District of Namuno of northern Mozambique.

The project is about 240 kilometres by road west of the port town of Pemba.

Pemba Port is a deepwater container port and is the third largest port in Mozambique.

It is anticipated that that the Balama graphite concentrate will be transported and shipped from Pemba Port.

The project is located close to a water supply, with the Chipembe dam just 14 kilometres to the northeast.

High graphite demand

In the current market, graphite prices have been increasing solidly and demand is outstripping supply.

Prices of coarse flake graphite have risen from around US$600 per tonne to US$3,000 per tonne between 2004 and 2011.

Based on demand and supply fundamentals there appears little chance of graphite returning to its lows and the price of graphite has the potential to rise further.

Demand is being driven by the need for products such as batteries and fuel cells, as well as a new technology called graphene – a one atom thick sheet of carbon that has a number of potential uses in electronics.

Automotive and iron and steel industries are the key end-users of the material.

China produces about 70% of the world’s graphite but is experiencing slowing growth and reserve depletion.

Graphite has recently had quite substantial return to interest from the investment community due to its near-term prospects and long-term growth potential.

Analysis 

Syrah Resources is in the “box seat” with its Balama Graphite Project in Mozambique and potential to host a large, high grade graphite deposit. In light of the progress to date, the valuation of Syrah does not look overly demanding.

Source: http://www.proactiveinvestors.co.uk/companies/news/43170/syrah-resources-intersects-288m-of-graphite-at-balama-brings-forward-target-date-for-maiden-resource–43170.html

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Beatrix Acquires Five Graphite Occurrences in Ontario

Posted by AGORACOM-JC at 5:10 PM on Tuesday, May 22nd, 2012

MAY 22, 2012 – Vancouver, British Columbia, Canada: Beatrix Ventures Inc. (the “Company” or “Beatrix”) has entered into an option agreement with an arm’s-length exploration and development company pursuant to which Beatrix has been granted an option to acquire a 100-per-cent interest in a portfolio of properties in Ontario containing 5 separate graphite occurrences. Each graphite occurrence has been located through government mapping, and several of the occurrences exhibit significant electromagnetic conductor features according to government geological and airborne survey maps. The portfolio contains 84 units of prospective ground in Ontario (the Savant Lake claims) (five occurrences).

The Savant Lake claim group is located within the Patricia Mining Division, approximately 180 kilometres north of the town of Ignace. The Savant Lake claim group encompasses five historical graphite occurrences located by government geologists (from Ontario Geological Survey Map 2442 Geol. Comp. Series).

Beatrix will commence field visits to the occurrences immediately to ascertain the extent of each of the graphite occurrences.

The terms of the option agreement between Beatrix and the optionor include cumulative cash payments to the optionor over four years totalling $80,000 and the issuance of 150,000 common shares of Beatrix to the optionor over a four-year period. If Beatrix exercises its option to acquire the properties and begins commercial production on any part of the properties, Beatrix shall pay to the optionor a royalty of 2 per cent of the net smelter returns provided, however, that Beatrix shall have the right at any time to purchase from the optionor one-half of the 2-per-cent smelter returns production royalty in consideration for a one-time payment of the sum of $1-million. This transaction is subject to TSX Venture Exchange approval.

The Company’s geologist will immediately review all technical data available and propose an exploration program to evaluate the potential of these graphite claims.

Mike Taylor, P.Geo., a director of Beatrix, is the qualified person responsible for the technical information contained herein as well as the design of technical programs for the properties.

On behalf of:
Beatrix Ventures Inc.

For further information, please contact:

Eugene Beukman
President
604.687.2038 or visit our website at www.beatrixventures.com

This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.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.

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Graphite Demand Seen Surging from Fuel Cells, Nuclear Reactors, Graphene

Posted by AGORACOM-JC at 11:12 AM on Tuesday, May 22nd, 2012

Demand for graphite is rising and is expected to mushroom as this allotrope of carbon – most commonly known as part of lead pencils – finds new applications. Currently, three growing applications of this mineral – lithium-ion batteries and fuel cells, nuclear reactors, and the potential uses of wonder material graphene – are making the quest for graphite heat up.

Jeb Handwerger, an analyst, told Mining Weekly this month that he expects global demand for graphite to increase exponentially over the next few years from current production of about 1.1 million tons a year, more than 70 percent of which comes from China. He said demand could reach 1.6 million tons in five years, thanks to demand just from lithium-ion batteries, which use much more graphite than lithium.

Lithium-ion batteries, fuel cells

Electric vehicles, the buzzword of our times, could mean a surge in demand for high-grade flake graphite in the coming years as these green vehicles will be powered by lithium-ion batteries. While no concrete statistics are available, Brent Nykoliation, Vice President of Business Development at Energizer Resources Inc. (TSX:EGZ,OTCBB:ENZR,FWB:YE5) commented that China is reportedly preparing to stock up enough graphite to put one million electric and hybrid-electric vehicles a year on the road starting in 2015. At an average of 130 pounds of graphite needed per electric car battery, about 300,000 tons of graphite will be required.

Battery makers prefer synthetic graphite for lithium-ion batteries, according to a Reuters article published earlier this month. Further, the battery industry accounted for less than five percent of natural graphite market demand in 2011. However, that could change as synthetic graphite can cost more than $20,000 a tonne, while unprocessed flake graphite costs $1,500 to $3,000 a tonne. Add in the processing and coating and the price is $8,000 a tonne, amounting to major savings compared to synthetic graphite.

Gary Economo, President and CEO of Focus Metals Inc. (TSXV:FMC), said in an article that the reason battery manufacturers prefer synthetic graphite for lithium-ion batteriess is because they “need consistency from their suppliers. So when they say synthetic graphite is easier to control, I think they’re saying their suppliers are controlling the quality of the material from one batch to another. When you order natural graphite from a distributor, you don’t know what mine it’s coming from. There’s a variety of batches, and it’s very difficult for a battery manufacturer to maintain quality control.” Economo added that as flake-graphite manufacturers offer high-quality and pure material to battery makers, the dynamics of the industry are bound to change.

Pebble-bed nuclear reactors

Most of the world’s graphite production is amorphous graphite, which is used in the steelmaking industry. It’s flake graphite, whose price has soared from $1,000 to $3,000 a ton in the last five years, that is driving the demand for new applications.

A new generation of nuclear reactors called pebble-bed nuclear reactors use large amounts of flake graphite. These reactors get their name from the pebble-sized spheres of graphite mixed with uranium that they contain. “This structure allows pebble bed reactors to produce power more efficiently – and safely – than conventional reactors,” Alex Cowie, editor of Diggers & Drillers, wrote recently. “This technology means nuclear reactors can be smaller, and as easy to run as turning a switch.”

China started building a fourth generation 210-megawatt nuclear reactor using high-temperature, gas-cooled pebble-bed technology last year, International Business Times reported earlier this month. Each pebble-bed reactor would use about 3,000 tons of graphite, and China plans to boost its nuclear power capacity to 150 gigawatts by 2030, the article said, adding that China’s current capacity is less than 50 gigawatts.

Is graphene our future?

Graphene is derived from graphite and is seen as the wonder material of this century as it conducts electricity and is one of the strongest, yet most lightweight materials known to mankind. It is touted as having the ability to profoundly impact many industries, from electronics to aerospace to autos. However, the miracles of graphene are mostly being seen in laboratories, and the price of manufacturing it needs to come down before widespread commercial use can occur.

Nearly 200 companies, including IBM (NYSE:IBM), Intel (NASDAQ:INTC), and Samsung (LSE:BC94), are invested in graphene research, and companies and governments are pumping billions into graphene research.

“IBM has already used graphene to produce the fastest computer chip in history,” Diggers & Drillers’ Cowie said. “The US Air Force and Navy are funding research to investigate its potential. Graphene chips may displace silicon chips in computers. If this happens, then graphite demand would go through the roof.”

Cowie added, “[i]f scientists are even half-right, graphene could change the world as we know it, and the price of graphite will soar.”

Securities Disclosure: I, Karan Kumar, hold no direct investment interest in any company mentioned in this article.

Source: http://resourceinvestingnews.com/36764-graphite-demand-seen-surging-from-fuel-cells-nuclear-reactors-graphene.html

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Graphite and Zinc Price Outlook is Favourable Through 2013

Posted by AGORACOM-JC at 9:13 AM on Tuesday, May 22nd, 2012

Vancouver BC – LOMIKO METALS INC. (TSX-V:LMR, OTC: LMRMF, FSE: DH8B) (the “Company”) owns 100% of the 5,407 Ha Vines Lake Zinc Property and has an agreement to acquire 100% of the Quatre Milles Graphite Property which has recently been expanded to 3,780 Ha. Both properties are subject to a 2% NSR. Exploration programs for both properties are planned for Summer 2012 and coincide with increased interest in both minerals.

Graphite – Demand Increases and Supply Risks

The price for flake graphite is $ 1,500 – 3,000 per tonne depending on flake size and grade. Graphite prices have been increasing in recent months and over the last couple of years prices for large flake, high purity graphite (+80 mesh, 94-97%C) have more than doubled. China, which produces about 80 per cent of the world’s graphite, is reducing its 200 amorphous graphite mines to 20 and creating a state-run monoploy which is already causing disruption in supply. Simon Moores of Industrial Minerals recently reported exports from China in January and February 2012 have been reduced by 55.3% and 60.1% from 2011 level exports from Hunan Province. It is not expected that current graphite mines in other countries could replace Chinese amorphous supply. An alternate is flake graphite. Use of this more expensive type of graphite could drive up prices for flake graphite even more..

Currently, the largest graphite mines produce only 20,000 tonnes per year. Predictions are that the current world-wide graphite consumption of 1.2 million tonnes per year will increase by 200,000 tonnes per year by 2015. This would require approximately ten mines of 20,000 tonnes per year to come on stream to meet demand. If changes to graphite mining in China take place, there could be added pressure on demand and a corresponding price increase as indicated by the increasing prices in the last two years.

Lomiko’s Quatre Milles Graphite Property

Lomiko announced it intends to complete up to 70 drill holes under a reccommended work program on the 1,660 Ha Quatre Milles Flake Graphite Property located in southwestern Quebec 175 km north-west of Montreal. Lomiko recently announced the purchase of an additional 2,180 Ha in the area to cover similar geology.

Lomiko’s drilling will focus on verifying the areas of historical high-grade graphite intersected previously by Graphicor on the property. The historical results are detailed below. It is Lomiko’s goal to complete both Phase I & II and establish a flake graphite resource at the Quatre Milles Property by December 2012.

Survey of Analyst Forecasts Indicates Zinc Prices To Increase

Energy & Metals Consensus Forecasts contains detailed individual analyst and average (mean) price forecasts for the next 10 quarters as well as the long-term outlook for over 30 of the leading analysts and forecasters in the world. The mean forecast predicsts a rise in the price pf 99.99% pure zinc by 23.2% by September 2012.

The main factor is the closure of large zinc mines in the coming years. China’s MinMetals Century mine will close within 4 years removing 500,000 tonnes per year from supply. Xstrata’s Brunswick mine in Canada, which provides 220,000 tonnes a year, is due to shut in early 2013. Other closures and in Kazakhstan, Canada and Ireland, among others, will be almost 1.5 million tonnes.

Zinc’s uses range from coatings to protect iron and steel through galvanization, to sheets for building and a range of chemical applications. The metal is used in the automotive and building and construction industries, with galvanized steel growth being the main driver of zinc demand. The total world zinc consumption was estimated to be 12.45 million tonnes in 2011.

At some point in 2012 or 2013, Japan is also expected to get a boost in zinc demand from reconstruction in the area, after the 2011 Tsunami.

Lomiko’s Zinc Discovery at Vines Lake

Zinc values in soil on the western side of Vines Lake were by far the most anomalous on the property, with values reported up to 2,429 ppm. One anomalous zone on the west side of the property measures roughly 122 hectares with an average zinc value of 425 ppm.

The Vines Lake Property is located in the Cassiar Gold Camp in the Liard Mining District of northwestern British Columbia. Lomiko Metals Inc. currently holds the rights to twelve contiguous mineral tenures comprising the property, totaling 5,407 Ha, (13,351 Acres). The 2011 Exploration program was conducted on the original 3 claims acquired in 2006 totaling 1,209 Ha (2,987 Acres). The Vines Lake property has year round paved road access as the property’s northern boundary crosses Hwy 37N, seven kilometers south of the unincorporated settlement of Jade City.

For more information, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: [email protected]

On Behalf of the Board

“A. Paul Gill”Chief Executive Officer

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