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Northern Graphite CEO Gregory Bowes on Ontario graphite property met results

Posted by AGORACOM-JC at 10:52 AM on Wednesday, April 25th, 2012

Northern Graphite Corp TSXV:NGC announced metallurgical test results from its Bissett Creek Graphite Project in eastern Ontario. Tests confirmed high recovery of large-flake, high-purity graphite consistently across the resource. The overall recovery from eight locked-cycle tests was 97%, and almost all concentrate will qualify for large-flake (+80 mesh), high-carbon (94%) pricing. Results showed 33% of the concentrate was +50 mesh, 97% C and 19% was +32 mesh, 98% C. Two of the locked cycle tests showed +32 mesh, 99% C.

Average results from eight locations on the deposit show

19.1% of concentrate +32 mesh, 98.1% carbon
33% of concentrate +50 mesh, 97% C
23.3% of concentrate +80 mesh, 95.1% C
5.2% of concentrate +100 mesh, 94% C
10.5% of concentrate +200 mesh, 92.7% C

CEO Gregory Bowes tells ResourceClips.com, “I think we’re the only graphite company that’s really completed the full suite of metallurgical testing, bulk sampling, pilot plant, all of that stuff and published the results. And I think they confirm that we have the best flake-size distribution in the industry and the highest carbon content of our graphite concentrate, so we will be producing the highest-price, premium-value product.

From a mining and metallurgical point of view, the project has pretty well been de-risked—Gregory Bowes

“We expect to complete our bankable feasibility in late May. I’m pretty sure we’ll file the mine closure plan in May as well. That is the comprehensive document describing how we’ll return the site to its natural state at the end. If that’s accepted by the government, we can start construction. It will take about one year to build the mine, so we hope to be in production before the end of 2013.”

As for infrastructure, “We are 15 kilometres from the Trans-Canada Highway, between Ottawa and North Bay, so we’re also 15 kilometres from the powerline and the natural gas pipeline. We’re about 50 kilometres from nearby towns, so we don’t have to build a camp. We’re five hours by truck from the port of Montreal. From there we can ship anywhere in the world. You can drive a transport truck from Toronto to the site in five hours. So you’re not dealing with the logistics of remote locations.

“From a mining and metallurgical point of view, the project has pretty well been de-risked,” he points out. “This thing had a full feasibility study done on it during the 1980s, so we’re effectively doing the second one, and all the results are consistent. So it’s low risk technically.”

View Company Profile

Contact:
Gregory Bowes
CEO
613.241.9959

or Don Baxter
President
705.789.9706

Disclaimer: Northern Graphite Corp is a client of OnPage Media and the principals of OnPage Media may hold shares in Northern Graphite.

by Greg Klein

Source: http://resourceclips.com/2012/04/25/northern-graphite-ceo-gregory-bowes-on-ontario-graphite-property-met-results/

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GRAPHITE: The Driving Force Behind Green Technology

Posted by AGORACOM-JC at 9:44 AM on Wednesday, April 25th, 2012

GRAPHITE: The Driving Force Behind Green Technology

                                      click on image below

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Logan Copper acquires graphite property

Posted by AGORACOM-JC at 9:30 AM on Wednesday, April 25th, 2012

DELTA, BC, April 25, 2012 – Logan Copper Inc. (the “Company”, “Logan Copper”, “LC”), (TSX.V: LC) is pleased to announce the acquisition of a 3,266 acre graphite property located near the town of Mayo, Quebec, Canada.

LC’s property, the “Mayo Graphite Property”, is located some 35 kilometres northeast of Ottawa, Ontario and 130 kilometres west of Montreal, Quebec, with excellent infrastructure. The property is 100% owned by Logan Copper Inc. with no net smelter royalty attached.

Summary: Mayo Graphite Project

  • Over 3,266 acres of land (13 sq km)
  • Known graphite occurrences in area
  • A historical Aeromagnetic survey completed over the entire property
  • Near major roads and good infrastructure

The Mayo Graphite Property is located 80 kilometres south of the producing Stratmin Graphite Mine. This mine has been producing natural flake graphite since 1988.

The past producing Bell Graphite mine is located 4 kilometres south of LC’s property. Historical records show this mine produced 6,700 tonnes of Graphite from 1906-1912.

Logan Copper is currently compiling all the historical geological data to prepare for an upcoming exploration program (s) on the Mayo Graphite property. Further announcements will be made once the geological / exploration team completes the review of the historical data.

About Graphite

Natural Graphite is an excellent conductor of heat and electricity. Graphite also has the highest natural strength and stiffness of any material. There are myriad of uses such as in brake linings, steelmaking, batteries, lubricants, and reinforcement of plastics.

The commodity price of natural flake Graphite has steadily increased to over $1,170 per tonne from $694 per tonne in 2009. Industrial demand for graphite is growing at approximately 5 per cent annually.

Of the 1.1 million tonnes of worldwide graphite production, 800,000 tons (73%) comes from China. The government of China has imposed an export duty of 20% plus an additional 17% value added tax on exports of graphite to ensure that they have sufficient supplies for domestic use. Demand for graphite continues to grow rapidly through increased use in ion batteries, carbon fibre reinforced plastics, and carbon alloyed metals. Furthermore, additional demand is expected from use in fuel cells and the construction of pebble bed nuclear reactors.

Some examples of uses of graphite are:

  1. An average fuel cell vehicle will use 80 kilograms of graphite.
  2. An electric car will require 25-50 Kilograms of graphite,
  3. Pebble Bed Nuclear Reactors require “3,000 tonnes of graphite at start-up and 600 to 1,000 tonnes per year”.

China has one operating prototype of a Pebble Bed Nuclear Reactor and has firm plans to build 30 more by 2020. Researchers at West Virginia University estimate that “500 new 100 GW pebble reactors will be installed in the US by 2020 with an estimated graphite requirement of 400,000 tonnes” (annually).

“We seek safe harbor”

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SKYPE INTERVIEW: Bob Kasner Discusses Past Producing Open Pit Omega Project

Posted by AGORACOM-JC at 5:17 PM on Tuesday, April 24th, 2012

The Omega Gold Property is located in Larder Lake, Ontario approximately 18 miles east of Kirkland Lake, and 4 miles west of Kerr Addison a former mine that produced in excess of 10 million ounces of gold. The Omega Property and Kerr Addison both are situated on the Larder Lake Cadillac fault system. This system has produced over 40 million ounces of gold just in the Kirkland/Larder Lake area and is still a productive wealthy mining camp.

Drilling highlights

·OM-12-67:1.787 g/t gold over 16 metres (including 2 metres of 5.84 g/t gold)

·OM-12-69:2.687 g/t gold over 12 metres (including 8 metres of 3.706 g/t gold)

·OM-12-70:0.997 g/t gold over 54 metres (including 10 metres of 2.421 g/t gold: Open Pit)

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Graphite Investment Boom Heats Up

Posted by AGORACOM-JC at 3:19 PM on Tuesday, April 24th, 2012

Graphite seems to be the new rare earth, and investor interest in the mineral, once seen as synonymous with No. 2 pencils, is heating up. Graphite is in short supply, especially large-flake graphite, a must for lithium-ion batteries, fuel cells, and nuclear power. China controls about 80 percent of the world’s graphite supply and its intention to curb exports is causing worry. Historic underinvestment in new graphite projects globally has prompted many juniors to step in and fill the gap. Investor interest in a cycle like this will not last for a long time, but for now, the bubble is growing bigger.

“I believe the Graphite cycle is now where Rare Earths were in 2009,” Ben Axler, managing partner and co-founder of Spruce Point Capital Management, a New York-based hedge fund, was quoted as saying on Seeking Alpha.

Axler, who is long on large-flake graphite company Northern Graphite Corp. (TSXV:NGC), said, “it’s entirely possible…NGC’s shares can easily double from here to over $6/share.” Northern Graphite shares were trading at $2.41 on Friday morning.

Northern Graphite, which owns 100 percent of the Bisset Creek deposit, said earlier this month that it has made test quantities of spherical graphite from graphite. The spherical graphite has been evaluated in lithium/graphite battery test cells, and the “performance of these cells demonstrated that it meets or exceeds current commercial performance requirements,” the company said.

Siddharth Rajeev, head of research at Vancouver-based Fundamental Research Corp. (FRC), told Graphite Investing News in an interview, “we are most bullish on high-grade, large-flake graphite projects.” He added that applications such as batteries and fuel cells will “require high-grade, large-flake graphite – and a significant portion of the demand is currently filled by synthetic graphite. We believe high-grade, large-flake natural graphite has the potential to take a significant market share from the synthetic graphite market.”

But Rajeev warned that “the recent boom and growing investor interest in the graphite sector have resulted in lot of new graphite companies and/or has prompted existing companies to switch their focus to graphite. Switching focus is not uncommon in the junior resource space. We saw the same trend a few years ago when the rare earth and lithium boom started. Several of those rare earth or lithium companies do not exist anymore. We will see the same in graphite as well. Investors should keep this in mind and look for strong fundamentals and management teams before making an investment decision.”

Nathan Pearson and Rachel Harrison reported for VantageWire that investors looking to invest in shares of graphite juniors need to “focus on projects with near-surface, high-grade, large-flake deposits that are in politically and economically safe areas with sound infrastructure.”

Besides Northern Graphite, other firms making headlines in the graphite space are Focus Metals Inc. (TSXV:FMS), Energizer Resources Inc. (TSX:EGZ), Flinders Resources Ltd. (TSXV:FDR), and Standard Graphite (TSXV:SGH) to name a few.

Focus Metals holds 100 percent ownership of its Lac Knife, Quebec, property, which has 16 percent carbon grade medium- and large-flake crystalline graphite, with production expected to begin in 2014. Its shares have risen more than 38 percent so far this year.

Energizer Resources last month confirmed jumbo-flake graphite with more than 90 percent purity at its Green Giant project in Madagascar. Shares of the company have nearly doubled so far this year.

Flinders Resources raised $15 million to advance the Kringel graphite mine in Sweden toward production this month. The Kringel mine, with a capacity 13,000 tonnes per year of flake graphite, operated from 1996 to 2001, when production was halted due to falling graphite prices. The company’s shares are down more than 23 percent so far this year, but have risen more than 20 percent in the past month.

Standard Graphite controls a 100 percent stake in twelve highly prospective graphite properties within known graphite districts in both Quebec and Ontario. Its shares have risen more than 80 percent so far in 2012.

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

Source: http://resourceinvestingnews.com/35268-graphite-investment-boom-heats-up.html

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Lomiko Metals to explore Qu̩bec graphite prospect РResource World Magazine

Posted by AGORACOM-JC at 11:36 AM on Tuesday, April 24th, 2012

With the price of flake graphite having tripled since 2005 from $2,000 to $3,000 per tonne, Lomiko Metals Inc. [LMR-TSXV; LMRMF-OTC; DH8B-FSE] management recognized a real opportunity and has now joined the growing number of junior exploration companies targeting this sector.

This begs the question: what is so special about graphite? The answer is that graphite has many important new applications such as lithium-ion batteries. In addition, fuel cells, nuclear and solar power also have the potential to create significant
incremental demand growth. Then there is graphene, a newly-discovered product with many potential uses. Though extremely thin, graphene is stronger and lighter than steel. While still in the R & D stage, graphene appears destined to play a large role in future industrial applications.

Of course, to join this sector, it is crucial to acquire a graphite prospect with excellent potential for development. A. Paul Gill, Chief Executive Officer, scoured Canada and the company has now acquired the Quatre Milles graphite property located in southwest Québec. The region is host to some of the most favourable geological terrain for graphite exploration in Canada and is known to host graphite resources, including the nearby Lac Des Iles Mine operated by Timcal.

Located approximately 175 km northwest of Montreal and 17 km north of the village of Sainte-Veronique, Québec, the road accessible Quatre Milles graphite property is early stage; however, initial exploration results have been very encouraging. Past operator, Graphicor Resources Inc., completed reconnaissance mapping and prospecting as well as ground geophysics and a 26-hole diamond drill program totaling 1,625 metres back in 1989.

Read Article in its entirety.

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Strike Graphite Mobilizing Drill to Simon Lake Graphite Property

Posted by AGORACOM-JC at 8:26 AM on Tuesday, April 24th, 2012

VANCOUVER, BRITISH COLUMBIA–(April 24, 2012) – Strike Graphite Corp. (TSX VENTURE:SRK) (the “Company”) is pleased to announce that it has begun mobilizing field crews to commence an exploration drill program at its wholly owned Simon Lake Graphite Property, located in Northeastern Saskatchewan.

Drilling is anticipated to begin on or about April 24, and expected to require from 35 to 40 days to complete. The exploration will test both historic showings and those identified from the recently completed VTEM program. Approximately 2,500 to 3,500 m within ten holes, will be completed along the 25 km long conductive trend.

Initial drilling will focus on testing known graphite mineralization along the original 5.5 km long, Simon Lake conductive trend; with approximately 2-3 holes. Up to 7 additional holes will test the recently identified 25 km long conductor, located southwest of Simon Lake, proximal to Saskatchewan Highway 905. The results of the high-resolution airborne TDEM survey (News Release: February 23rd, 2012) are currently being interpreted and combined with the historic drill-hole intersections of graphite and existing structural information. The interpretation consists of advanced forward plate modeling of the graphitic horizons at depth; the work is being conducted by Living Sky Geophysics Inc., of Saskatoon, SK.

All relevant graphite intersections recovered from drill-core material will be processed for mineralogical characterization and initial metallurgical testing.

The work program represents the second phase of the Company’s aggressive 2012 campaign that will include a summer and fall exploration program of further ground surveys and drilling. This exploration will advance the highest priority targets in terms of large-flake graphite along this 25 km trend.

To view a Drill Plan Map overlay on the earlier released EM Survey please click the following link:

http://www.strikegraphite.com/images/Simon-Lake-Project-Target-Areas.jpg

The Simon Lake Graphite Project covers 11,800 hectares, and is located approximately 300 km northeast of La Ronge, Saskatchewan and is intersected by Highway 905. The property consists of several showings of flake graphite mineralization in historic drill holes, which were discovered during the exploration of base metals during the early 70’s. Historic Drill Hole 2-72 encountered a graphitic biotite gneiss with descriptions of “abundant graphite” over a 68 m interval.

Approximately 5.5 km to the southwest, along a the same conductive horizon, Drill Hole E42-5 encountered a graphitic biotite gneiss with core descriptions of “disseminated graphite” or “coarse graphite flakes” over 182.9 m of core, with narrower intervals described as “graphite flakes abundant” and “heavy graphite in 6 to 12 inch bands”.

Within the southwest part of the property, approximately 6 km east of Saskatchewan Highway 905, a large and highly conductive structure has been interpreted as a fold hinge. At this location, the conductive unit exceeds 5 km along strike and is more than 2 km wide; and may represent the strike extension of the graphite-bearing lithologies known at Simon Lake.

Geoff Balderson, President remarks “Explorations is advancing as expected and we intend to continue an aggressive approach to follow-up the large-flake graphite potential that we have identified at Simon Lake. From here our goal remains achieving a graphite resource status as quickly as possible for our shareholders.”

Neil G. McCallum, P.Geo., is a Qualified Person pursuant to NI 43-101, and has reviewed and approved the technical disclosure of this news release.

About the Company:

Strike Graphite Corp. is a progressive exploration company with seasoned management targeting strategic assets on a global scale. In addition to the Deep Bay East and Simon Lake graphite properties, the Company is also active advancing its Wagon Graphite property in Quebec next to the Timcal Graphite mine. The company is also advancing the Satterly Lake gold project in NW, Ontario, located just west of Gold Canyon Resources Inc.

On behalf of the Board of Directors,

Geoff Balderson

For more information on the above or to view the Company’s Corporate Presentation on its Graphite assets and opportunity, please visit the Company’s website at www.strikegraphite.com.

We seek safe harbor.

Contact Information

 

Strike Graphite Corp.
Geoff Balderson
604.669.9330 or Toll Free: 1.866.669.9337
604.669.9335 (FAX)
[email protected]
www.strikegraphite.com

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Graphite: The Boom, China’s Bottleneck and the Exploration Crunch

Posted by AGORACOM-JC at 4:20 PM on Monday, April 23rd, 2012

COMMENTARY–ProspectingJournal.com–

In graphite very few can doubt the potential. When the metal first came into use its applications were widely restricted to lubricants and pencils. The impending boom of the auto industry in the 1960s then allowed it to tap into new markets, substantially widening graphite’s reach and economic value. Today, a similar pattern of technological innovation and ‘new industry’ is at work, promising an enormous appetite that is firmly rooted in graphite’s ever-expanding applications. There is much to be said about the metal’s distinct ability to remain sought after in ‘old’ industries whilst simultaneously enjoying a firm reliance amongst those of the 21st century. According to Simon Moores, graphite’s versatility is a result of its key properties. He noted, “it’s conductive; it’s a lubricant; it’s resistant to high temperatures and it’s a strong mineral”.

In graphite almost all the boxes are ticked and many within the industry are well aware of its potential. Kevin Puil, senior analyst for the Encompass Fund, exclaimed, “there is no substitute for graphite in many technologies, such as lithium-ion batteries. Between cell phones, tablets, laptops, hybrid and electric cars…the industry is growing at 25-30 percent annually.” And thus the growth of the hi-tech industry is commonly perceived as our 21st century equivalent to the 1960’s auto-industry boom. But where the potential is evident and the demand is insatiable, supply simply isn’t. The graphite industry, amongst the fastest growing, has recently seen the wind knocked off its sail because the world’s largest graphite producer is currently holding a very tight reign.

China currently accounts for about 70 percent of global graphite production and it has recently demonstrated a stance towards even greater protectionism. Jacob Securities’ Senior Mining and Metals Analyst, Luisa Moreno, stated, “China wants to better utilize its resources primarily for its own economic development…China, just as most nations, would like to be self-sufficient in key mineral resources”. Moreno then went on to exclaim, “I believe China is in a resource-preservation mode”. In reality there is little the rest of the world can do about it because in truth, nobody is going to fathom the power to bully the world’s second largest economy. China’s stance had led to several repercussions. For one, it has ensured that the price of graphite has grown considerably higher. Kevin Puil noted, “China definitely has a stranglehold on the global graphite supply…It’s 20 percent export duty, 17 percent valued added tax and export licensing system should further tighten supply and drive prices higher”. So on negative side, the graphite boom has come at a time when our primary supply has chosen to restrict its rare earth exports. On the plus side, it has prompted the rapid growth and expansion of juniors across the world.

A lot of these juniors have sprung up in Canada, companies of the likes of Northern Graphite Corp. (NGC:TSX: NGPHF:OTCQX). Northern Graphite currently holds 100 percent interest in its Bissett Creek deposit in Ontario. The deposit is conveniently located 17 kilometers from the Trans Canada Highway and boasts considerable infrastructure. This was reiterated by Kevin Puil, who noted, “its entire Bissett Creek deposit in Ontario is flake graphite…it has great infrastructure nearby, including power, gas roads and a small community”. According to Puil, flake graphite “is sought after for its applications in new technologies like lithium-ion batteries and solar panels”. As a result flake is more valuable than other types of graphite and fetches a higher price.

Last week, Northern Graphite announced it had formed a strategic partnership with Panacis, a company that makes battery systems in the telecommunications, defense and renewable energy industries. Northern’s chief executive, Gregory Bowes, stated, “Panacis has a great deal of knowledge and expertise with respect to the manufacture and testing of Lithium ion batteries and has established relationships with most manufacturers. This provides us with a very important window into the Lithium ion battery world”. Northern graphite has allowed itself to stand out, boasting flake graphite that is essential to many new industries and at the same time, tying down a partnership with a powerful buyer.

With China continuing to bottleneck short-term supply chains, juniors such as Northern have been provided with huge incentives and have spent considerable amounts in exploration and feasibility studies. They are still years away from production, but given their strong financial position, these companies look poised to capitalize. Strong demand, high prices and Chinese export restrictions are a proving a perfect formula for the success of today’s juniors.

–

Jason Staeck
ProspectingJournal.com

Source: http://www.prospectingjournal.com/graphite-the-boom-china%E2%80%99s-bottleneck-and-the-exploration-crunch042312/

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Velocity Minerals Ltd.-Quebec Graphite Properties Host Large Flake Crystalline Graphite

Posted by AGORACOM-JC at 10:35 AM on Monday, April 23rd, 2012

VANCOUVER, BRITISH COLUMBIA–(April 23, 2012) – Velocity Minerals Ltd. (TSX:VLC) is pleased to provide further details of historic exploration of its three newly-acquired graphite properties located in the Central Metasedimentary Belt of the Grenville Geologic Province of southwestern Quebec. The following information is from sources that are believed to be reliable but does not meet requirements of National Instrument 43-101 and is provided for information purposes only. The Company’s management and Qualified Persons are conducting due diligence studies to confirm the historic data.

Historical assessment reports, filed in 1991 and 1992 with Quebec’s Ministry of Energy and Resources Mines Sector, refer to large flake graphite on the Ascension and the Lac Vert mining properties and flake graphite on the Buckingham property.

According to the reports, graphite locally occurring on the Ascension “…as flakes up to 1cm in diameter but typically varying from 0.5mm to 5mm in diameter, appears to be preferentially developed within the marble units although minor graphite can be present locally in any of the sedimentary lithologies.”

Similarly, the reports indicate that samples collected from the Lac Vert property contained graphite flakes from 0.5mm to 2.0mm in diameter. The following samples are from historic data. Lower grade samples also were reported.

Sample number Percent Graphite Sample number Percent Graphite
#42404 18.95 % #42411 21.25 %
#42405 18.48 % #42422 4.67 %
#42406 17.58 % #42423 5.06 %
#42407 21.31 % #42424 23.00 %
#42408 19.13 % #42425 15.09 %
#42409 20.73 % #42426 1.68 %

Flake graphite is usually categorized by size as:

Large Flake +80 mesh (> .177mm)

Medium Flake +100 mesh (> .149mm) to -80 mesh (< .177)

Fine Flake -100 mesh (< .149mm)

Recent price quotes indicate that large and jumbo flake graphite, comparable to that reported from the Velocity properties, commands a premium price in the commodity market.

CAUTION: The above-detailed analyses have not been verified in any way by Velocity Minerals Ltd. or its Qualified Persons.

Gerald Diakow, President of Velocity Minerals Ltd., said, “Based on the historic data, we are confident that the claims host the large flake and, in fact, extra large flake graphite, which is highly sought after, and is found in a carbonate setting that reflects well for efficiently extracting the graphite from the ore.”

This News Release is based upon information prepared under the supervision of Erik A. Ostensoe, P. Geo., a Qualified Person (as defined in NI 43-101). However, the specific data referred to herein was obtained from government files and other historical sources believed to be reliable but which have not and cannot be verified.

Velocity Minerals Ltd. is a public company dedicated to the acquisition, exploration and development of molybdenum and other mineral resources. In addition to the Company’s two Cassiar, B.C. area properties, several other opportunities in the mining industry in North America and elsewhere are actively being pursued.

On behalf of the Board of Directors,

Kenneth R. Holmes, Chairman.

Forward-Looking Information

This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or by words indicating that events or conditions “will”, “would”, “may”, “could” or “should” occur. 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 may differ materially from those in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

The TSX has neither approved nor disapproved of the information contained herein.

Contact Information

 

Velocity Minerals Ltd.
Jeremy Yaseniuk
Investor Relations
(604) 689-7411 or Toll Free: (866) 920-0567
www.velocityminerals.com

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Zenyatta Ventures; Drilling Continues to Intersect Wide Zones of Graphite Breccia at Albany GRAPHITE Deposit in Ontario, Canada

Posted by AGORACOM-JC at 10:26 AM on Monday, April 23rd, 2012

THUNDER BAY, ONTARIO–(April 23, 2012) – Zenyatta Ventures Ltd. (“Zenyatta” or “Company”) (TSX VENTURE:ZEN) is pleased to announce an update on drilling at the Albany Graphite Deposit, located near Hearst in northeastern Ontario, Canada.

Drill hole #3 (Z12-4F3), which is near completion, was collared 200 metres (‘m’) north of the original discovery drill hole (Z11-4F1) and drilled in a southerly direction. Significantly, upon passing through the overburden/limestone, the hole immediately intersected graphitic breccia which shows the deposit coming to near surface. A wide zone (43.1m) of graphitic breccia was intersected from 62.6m to 105.7m followed by a zone of graphitic overprinting from 105.7m to 133.5m. Another, very wide zone (128.1m), of graphitic breccia was intersected from 133.5m to 261.6m. This represents the largest intersection of graphitic breccia drilled to date. Graphitic overprinting consists of veinlets of graphite within the granite.

Drill hole #2 (Z12-4F2) was designed to test the southern extent of the graphite breccia pipe. The drill hole was collared 200 metres (‘m’) south of the original discovery hole (Z11-4F1) to test the limits of the geophysical anomaly model and to define the contact of the graphitic breccia body. The drill hole defined this contact and intersected a wide zone of graphitic breccia and graphitic overprinting, where the breccia pipe model predicted it would be located. The drill hole intersected a wide zone (59.62m) of graphitic breccia from 380.27m to 439.89m.

Graphite analyses for these two (2) drill holes are expected over the next 10-12 days. A plan map, section and additional photos can be found on the website at www.zenyatta.ca.

Holes #4 (Z12-4F4) and #5 (Z12-4F5) have been proposed by our geological technical team and are shown on the website plan map. These drill holes will further test the geophysical conductor with a large (400m) step-out to the east. Hole #4 is scheduled to be started in the next 5-7 days.

The goal of the current drill campaign is to geologically define the extent of the graphite breccias, delineated by an airborne geophysical conductor with approximately 4000m of wide-spaced drilling over the next 2 months. As previously announced in the Company’s news releases, recent drill holes on the Albany project have intersected extensive graphite-rich breccia zones. Subsequent petrographic examination of samples sent to Lakehead University (“LU”) confirmed the drill hole had intersected a very rare hydrothermal (magmatic) occurrence of graphite with a flake size ranging from fine (-270 mesh) to coarse (+40 mesh). As per recommendations of the LU report, SGS Canada Inc. (Mineral Services Division of Lakefield) has been engaged to assess the purity and metallurgical response of the graphite material.

Aubrey Eveleigh, President and CEO stated “Drilling continues to expand this unique and large graphite deposit at our Albany project. The Company is looking forward to continued definition drilling and receiving the graphite analyses within the next 2 weeks.”

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.

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.

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Posted in Graphite | Comments Off on Zenyatta Ventures; Drilling Continues to Intersect Wide Zones of Graphite Breccia at Albany GRAPHITE Deposit in Ontario, Canada

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