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Logan Copper Acquires Former High Grade Noranda Graphite Property

Posted by AGORACOM-JC at 5:03 PM on Monday, May 14th, 2012

Up to 85 % Graphite drilled

DELTA, BC, May 14, 2012  – Logan Copper Inc. (the “Company”, “Logan Copper”, “LC”), (TSX.V: LC) is pleased to announce the acquisition of a third Graphite property in Quebec.

This new property, the Carheil Graphite Property (Carheil) was acquired through Quebec’s Gestim system. Carheil encompasses approximately 5,400, 100% owned, contiguous acres with no NSR or work commitment attached.

The Carheil property is located approximately 280 km NNW of Val-d’Or, QC and is approximately 120 km north of La Sarre, QC.  Aurizon Mines Ltd.’s producing Casa-Berardi Gold Mine is located approximately 19 km south of LC’s Carheil property.  There is an existing road crossing the property which leads to the BHP Billiton Ltd.’s past-producing Selbaie Zinc Mine which is located approximately 20 km east of LC’s Carheil property.

Mr. Thal S. Poonian, President and CEO of Logan Copper commented “LC believes that the Carheil property has the potential to become its flagship graphite property.  We look forward to verifying the historical results and defining the project potential”.

A percentage (6.67% or 360 acres) of the 5,400 acre Carheil property was formerly explored by Noranda Exploration Co. Ltd. (Noranda).  In August 1975 Noranda completed a geophysical survey covering approximately 300 acres of the Carheil graphite property.

Noranda completed two diamond drill holes in the surveyed area in May of 1978.  The first hole was lost in overburden while the second hole number 2-78 was drilled to a depth of 497 feet.  Historical diamond drill core log report number GM33862 returned results as follows:

 

“157 – 227 feet about 5% graphite
240 – 425 feet 20 – 60% graphite
428 – 453 feet about 85% graphite”

The hole was drilled at dip collar -55o and the core size was AQ.

The historical, non-43-101 compliant, geophysical survey report filed with the Quebec Ministry of Natural Resources, report number GM: 31366, reported the following.

Magnetic Survey

Assessment Data

 

“The instrument used was a McPhar M700 Fluxgate Magnetometer.  Readings were taken at all of the 100′ stations. The usual diurnal and datum adjustments were made and the corrected results were plotted and then contoured.  Som 355 (base, sub-base and line) stations were read in the period August 4-12, 1975 by personnel of Noranda Exploration Co.”

Magnetic Results

 

“The magnetic suggest a formational strike of 125o.   There is one closure inside the 1000 gammae contour.  This extends from about 1550N on Line 16E to about 1500N on Line 20E.”

Horizontal E. M. Survey

Assessment Data

 

“The instrument used was a Geonics EM17 Horizontal Loop.  Readings were taken at all of the 100′ line stations.  Some 245 of these were taken concurrently with the magnetic work by” Noranda’s “crew.”

E.M. Results

“Three conductors were located.  These are: –

 

AA. This intermittent conductor possibly extends across the grid.  It is rather weak in amplitude and the conductivity is only fair.  On Lines 12E and 16E it lies on the north flank of the magnetic closure mentioned above.  The strike is approximately 125o.
BB. This conductor may be traced across the grid.  The amplitude and conductivity are good to excellent especially on Lines 8E, 12E, 16E, 24E, 28E and 32E.  The strike is as above.
CC. This conductor has fair amplitude and conductivity.  The apparent strike of 60o is rather puzzling unless one assumes the conductor is caused by a fault or shear.”

Conclusion

 

“Conductor BB should be drilled on Line 16E.  Sufficient footage should be allowed to cover the suggested conductor width of 150′ and the possible intersection of conductor CC.”

The historical data quoted herein was obtained from government files and other historical data and has not and cannot be verified as it is based on reports obtained and prepared by previous operators. The Company has not completed the work necessary to verify the results and is not treating the results as NI 43-101 defined resources verified by a qualified person. The Company views this historical data as relevant and a significant indication of the projects mineral potential. This property will require considerable further evaluation which the Company intends to carry out in due course.

LC’s technical team, led by Mr. Roger LeBlanc, P. Eng, Geo., will review the available data and commence exploration of the Carheil property as soon as possible.  LC’s goal is to obtain a 43-101 compliant resource estimate for this property.

Roger LeBlanc, P.Eng, is a qualified person pursuant to National Instrument 43-101, and has reviewed and approved the technical disclosure of this news release.

Historical Reserves, Resources, or Results

Any data regarding historical reserves, resources, or results cited herein as historical are not compliant with National Instrument 43-101- Standards of Disclosure for Mineral Projects (“NI 43-101″) nor current unless otherwise specified. They are derived from historical documents and represent that at sometime in the past the then current operators undertook an estimate of the size or metal content of the deposit based on economic factors that existed at that time. If they are included herein, it is for illustrative purposes only and should not be relied upon as factual.

Investors are cautioned that a qualified person has not completed sufficient work and the information has NOT undergone rigorous geological review and QA/QC testing by a Qualified Person as defined in NI 43-101. Neither the Company nor its personnel treat this data as a current mineral resource, reserve, or results as defined under NI 43-101, nor do they rely upon them for evaluation purposes. However, this data is being used as a guide to exploration as the Company develops data to support any potential future mineral resource estimates in accordance with the requirements of NI 43-101.

WE SEEK SAFE HARBOR

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Zenyatta Ventures; 450 Metre Step-Out Drill-Holes Intersect Wide Zones of Graphite Breccia

Posted by AGORACOM-JC at 1:56 PM on Monday, May 14th, 2012

THUNDER BAY, ONTARIO–(May 14, 2012) – Zenyatta Ventures Ltd. (“Zenyatta” or “Company”) (TSX VENTURE:ZEN) is pleased to provide the following update on the current drilling campaign on the Albany Graphite Deposit.

Drill hole #5 (Z12-4F5) was collared 450 metres (‘m’) east of the original discovery drill hole (Z11-4F1) and drilled in a northerly direction. Significantly, upon passing through the overburden/limestone, the hole immediately intersected graphitic breccia which shows the deposit coming to near surface in this area as well. A wide zone (94.0m) of graphitic breccia was intersected from 44.0m to 138.0m followed by a zone of graphitic overprinting from 138.0m to 214.0m. Assays should be received within the next 12-14 business days.

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.

A plan map, section and additional photos can be found on the website at www.zenyatta.ca.

Aubrey Eveleigh, President and CEO stated “Holes 4 and 5 were large step-outs to the east where we continue to encounter wide zones of graphitic mineralization. This confirms that the eastern continuation of the airborne geophysical anomaly is caused by the same graphite-rich body. The Company is very pleased with these latest drilling results that continue to expand this large and unique graphite deposit.”

The next drill-holes, #6 and #7, will be drilled 100m west and east of the discovery hole #1 respectively. Drill hole #6 has just commenced and should be complete in the next few days.

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.

Contact Information

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

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Northern Graphite Signs Two Agreements for Further Spherical Graphite Testing

Posted by AGORACOM-JC at 10:33 AM on Monday, May 14th, 2012

OTTAWA, ONTARIO–(May 14, 2012) – Northern Graphite Corporation (TSX VENTURE:NGC)(OTCQX:NGPHF) is pleased to announce that it has engaged Hazen Research of Golden, Colorado and the National Research Council Canada (“NRC”) to continue testing and optimizing its process for manufacturing spherical graphite which is used to make the anodes in Lithium ion batteries.

Northern has developed a proprietary process for producing spherical graphite from the graphite concentrate that will be produced from the Company’s 100% owned Bissett Creek deposit. Northern’s spherical graphite has already been evaluated in Lithium/graphite battery test cells and the performance of these cells demonstrated that it meets or exceeds current commercial performance requirements and that Bissett Creek graphite does not contain any impurities that negatively affect cell performance.

Hazen Research has been retained to confirm laboratory results using bench scale models of commercial purification equipment that will be employed in the full scale process. It is anticipated that this program will be followed by a pilot plant test and then engineering and design work to define the capital and operating costs of a commercial facility to upgrade Bissett Creek graphite concentrate into spherical graphite.

The National Research Council of Canada has been engaged to carry out ongoing testing of Northern’s spherical graphite in Lithium/graphite batteries in order to optimize and customize its performance to meet the specifications of potential offtake and strategic partners and customers. NRC has advanced battery testing capabilities with various chemistries and is the Government of Canada’s premier organization for research and development.

Gregory Bowes, Chief Executive Officer, commented that: “Value added processing such as the manufacture of spherical graphite is a big part of Northern Graphite’s strategy to create value for shareholders.” He added that: “By developing our own process we can ensure that it is optimized for our production, we can develop our own intellectual property and we do not have to pay royalties to third parties.”

About Spherical Graphite

Spherical graphite is used to make the anodes in Li ion batteries and is manufactured from the flake concentrate produced by graphite mining operations. The upgrading process consists of micronizing the graphite flakes, rounding them to create a spherical or “potato” shape, and purifying them to increase the carbon content to 99.95%. Almost all spherical graphite is currently produced in China and purified using strong acids which results in large volumes of acidic and toxic waste. This method is not environmentally sustainable as the demand for, and production of, Li ion batteries increases. It is also inconsistent with the green energy objectives of the hybrid and all electric car industry. The high quality and purity of graphite from Bissett Creek has enabled the Company to develop a proprietary purification technology that is environmentally friendly and sustainable. The objective is to provide Li ion battery manufacturers with a stable, secure source of supply that is produced in an environmentally acceptable manner.

Don Baxter, P.Eng, President of the Company and a “Qualified Person” under 43-101, is responsible for and has reviewed and approved the technical content of this press release.

The Graphite Market

Graphite prices have increased substantially due to the ongoing modernization of China and other emerging economies which has resulted in strong demand from traditional steel and automotive markets. In addition, new applications such as lithium ion batteries, vanadium redox batteries, fuel cells and nuclear power have the potential to create significant incremental demand growth. The manufacturing of Li ion batteries requires up to 30 times more graphite than lithium and their use in the growing EV/HEV market is expected to require significant increases in graphite production. However, graphite production and exports from China, which produces 70% of the world’s supply, are expected to decline and an export tax and a licensing system have been instituted. As a result, both the European Union and the United States have declared graphite a supply critical mineral.

Northern Graphite Corporation

Northern Graphite Corporation is a Canadian company that has a 100% interest in the Bissett Creek graphite deposit located in eastern Ontario. Northern Graphite is well positioned to benefit from this compelling supply/demand dynamic with a high purity, large flake, scalable deposit that is located close to infrastructure. A bankable final Feasibility Study (“FS”) is expected to be completed before the end of the second quarter, 2012. Permitting is expected to be completed by the end of the summer following which mine construction can commence, subject to the results of the FS and financing. Additional information on Northern Graphite can be found under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.northerngraphite.com.

Hazen Research

Hazen Research, Inc. is an employee-owned firm, located in Golden, Colorado, that performs industrial research and development for clients in the mineral, chemical, energy, and environmental fields. Services include laboratory-scale research on new processes or the adaptation of known technology to new situations, followed by pilot plant demonstration, preliminary engineering, and cost analysis. Projects range from beaker- scale experiments and analyses to multimillion-dollar continuous pilot or demonstration plants. Hazen has developed hundreds of hydrometallurgical, pyrometallurgical, and mineral beneficiation processes for most commercial metals and industrial minerals, and for many inorganic chemicals and has been involved in over 10,000 projects.

This press release contains forward-looking statements, which can be identified by the use of statements that include words such as “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “likely”, “will” or other similar words or phrases. These statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. The Company does not intend, and does not assume any obligation, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.

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

  • Northern Graphite Corporation
    Gregory Bowes
    CEO
    (613) 241-9959Northern Graphite Corporation
    Don Baxter P.Eng
    President
    (705) 789-9706
    www.northerngraphite.com

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Lomiko Metals Significantly Expands its Quatre Milles Graphite Property

Posted by AGORACOM-JC at 9:25 AM on Monday, May 14th, 2012

May 14, 2012 — Vancouver BC – LOMIKO METALS INC. CA:LMR -13.64% LMRMF -10.14% DE:DH8B -18.75% (the “Company” or “Lomiko”) is pleased to announce that it has signed a letter agreement with three vendors to acquire a 100%-interest in the 2,180 hectare Quatre Milles West Property, located in southern Quebec.

The Quatre Milles West Property covers the western extension of the geology that hosts the drilled graphite bearing structures at the Company’s Quatre Milles Property. The combined property now covers two separate claim blocks, one 8 km by 7 km, and the other 7 km by 5 km, which brings the expanded Quatre Milles Property from approximately 1,600 hectares to 3,780 hectares.

To earn its 100%-interest, Lomiko must pay C$3,000 and issue 1,800,000 shares, subject to TSX Venture Exchange acceptance and grant the vendors a 2% NSR of which the first 1% may be purchased for $1 million.

The underlying geology of the Quatre Milles West Property consists of intercalated aluminous biotite paragneiss with graphite, biotite feldspar paragneiss, marble with graphite at contact with other units, quartzite and calc-silicate lithologies of the Central Metasedimentary Belt of the Grenville Province.

A map showing the expanded property will be posted to the Company’s website at: http://www.lomiko.com/properties/quatre.html

The Company is currently planning an exploration program for the Quatre Milles Property including mapping, prospecting and diamond drilling to test and confirm the areas of historical high-grade graphite intersected previously by Graphicor Resources Inc. (“Graphicor”) on the property.

Lomiko’s Quatre Milles Graphite Property

The Quatre Milles Property is road accessible and is located approximately 175 km northwest of Montreal and 17 km due north of the village of Sainte-Veronique, Quebec.

The property was originally staked and explored by Graphicor in the summer of 1989 based on the results of a regional helicopter-borne EM survey. The underlying geology consists of intercalated biotite gneiss, biotite feldspar gneiss, marble, quartzite and calc-silicate lithologies of the Central Metasedimentary Belt of the Grenville Province.

Historical Highlights

Graphicor completed reconnaissance mapping and prospecting as well as ground geophysics and a 26 hole diamond drill program totaling 1,625 metres. The work identified several conductive trends in the central portion of the property and at least three, relatively flat lying graphitic beds.

23 of the initial 26 drill holes intersected graphite concentrations with a highlight of 8.07% Cgf over 28.60 metres in hole Q90-7. The highest individual assay was reported in hole Q90-10 reporting 15.48% Cgf over 0.50 metres.

Southwestern Quebec is host to some of the most favourable geological terrain for graphite exploration in Canada and is known for hosting graphite resources, including the Lac Des Iles mine operated by Timcal. Lac des Iles is the largest of two Canadian graphite producers. It has been in production for over 20 years and produces graphite products of various sizes and purities.

Jean-Sebastien Lavallee (OGQ #773), geologist, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this release.

For more information, review the website at http://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

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.

 

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Blair Way of Strike Graphite Interviewed by miningfeeds.com

Posted by AGORACOM-JC at 10:35 AM on Friday, May 11th, 2012
Blair Way, Strike’s newly appointed CEO, is looking forward to putting his project development skills to work.

On January 25, 2012, Strike Gold changed its name to Strike Graphite (Stock Profile – TSXV: SRK). In doing so, the company communicated quite clearly to the investment community that Strike had found its focus. Strike was an early-mover in the graphite sector and was able to secure three projects, two in Saskatchewan and one in Quebec, before a flood of junior miners arrived on the scene.

With three projects on the books Strike Graphite was still missing something – a Chief Executive Officer – but in early April the upstart company found their man when Blair Way was appointed to the position.

Blair Way is not a serial entrepreneur. On the contrary, he has held senior management positions at major and mid-tier mining companies. Most recently he served as Vice President Project Development for Ventana Gold – a Vancouver-based gold mining company advancing projects in Colombia that was acquired by Brazilian billionaire Eike Batista for $1.4 billion. Prior to Ventana, he served as President and Project Director, Oceanagold Philippines, overseeing the construction of the Didipio gold copper project; and, earlier in his career served as Project Director for BHP Nickel projects.

We connected with Mr. Way this morning after the release of another encouraging drill hole from Strike’s Simon Lake graphite project in Saskatchewan to get his take on Strike Graphite and the graphite sector now that he’s had a few months to find his footing.

Blair, thanks for joining us, you are relatively new to Strike Graphite – what drew you to an early stage company?

I was attracted to Strike Graphite because of the brownfield nature of these projects and the opportunity to utilize my development skill-set to fast track the projects and grow the company rapidly. I see graphite as a race to production and that is the environment I thrive in.

For those who are not familiar with graphite – please tell our readers about the sector and some of the key drivers.

The main drivers for graphite are grain, grade and metallurgy. These are the key aspects of a graphite deposit. It must be large flake and high-grade to command the best pricing in the market. The metallurgy must be straight forward. There are some deposits that have more complicated metallurgical processes, not to say any are as complicated as a nickel or zinc deposit, but the more straight forward the process the lower the cost of production.

The current graphite market, primarily for steel, refractory, lubricants and auto parts consumes in the order of 1.2 million tons per annum with the majority of the production from China and India. The largest mine is under 40,000 tons per annum which is quite a small operation in terms of an open pit mine with grades in excess of 10%.

The estimated demand growth over the next 8 years is in excess of a further 800,000 tons per annum. At 40,000 tons per mine that is 20 mines coming on stream in the next 8 years. That is a tall order. So additional high-grade production must come online to meet this growing demand and command the best market pricing.

Graphite emerged as the new “belle of the ball” of the junior resource markets – some say taking the place of Rare Earths – what do you make of this comparison?

I can see how people make this comparison, but it is only partially true. The graphite space is getting a lot of attention these days which is similar to the Rare Earths of a few years back as the market sees it as a new emerging metal, but that’s not true. Graphite has been around for decades and has only just recently commanded attention due to some of the emerging uses for graphite. This attention is really where the similarity ends.

Graphite is a much better understood market with strong current and emerging uses. It is much easier to find in large quantities and, metallurgically speaking, it is immensely more simplistic. Graphite tends to be relatively shallow occurring so it is amenable to very simple open pit mining. Processing is by known floatation technology to achieve the most effective concentration. Further concentration is also achieved by existing technology to tailor it to the end user as required.

All this lends itself to a very cost effective mine and plant. For example, a billion dollar gold deposit would be lucky to develop a mine and processing facility for under $300 million after spending in the order of $30 million to get it to feasibility stage. In comparison a billion dollar graphite deposit and associated mine and processing facility could get through feasibility study and in production for under $100 million. If you compared this to rare earth, nickel or zinc deposits the numbers are even more favorable for a graphite business model.

Today you announced the second drill results from Strike’s Simon Lake project in Saskatchewan – tell us about the project and the recent results.

We are very pleased with our preliminary drill results. Our historical data indicated to us that we could encounter the grain, grade and metallurgical attributes required for a graphite discovery. The base metal exploration drilling undertaken on the property in the 70′s and the associated drill logs enabled us to focus our EM survey which identified a 24 kilometer long conductor which we are currently drilling key targets on. The preliminary data from our drill holes continue to reinforce our theory and we are very excited to see our lab test results in the coming weeks.

You have two other projects, Deep Bay East in Saskatchewan and the Wagon property in Quebec – are you equally excited about the potential of these projects?

These projects are equally exciting and we are undertaking ground work on these properties also. We will work towards defining focused drill programs for the fall on all our properties and depending on the results from this summer’s work we will then focus our resources on those that have the greatest potential with the aim to achieve an NI43101 resource by early 2013.

You recently announced a $3 million financing at $0.30, what milestones do you hope to reach with the proceeds once closed?

These proceeds will enable us to continue on our aggressive exploration programs on our three properties to move them toward a resource. Our next milestone is our NI 43-101 resource. It is a great time to be in this sector and we believe our brownfield projects enable us to be a front runner in this race to production.

Disclosure: at publication date Strike Graphite is a client of MiningFeeds.

Source: http://www.miningfeeds.com/2012/05/10/interview-blair-way-strike-graphite/

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Standard Graphite CEO Chris Bogart Discusses the Graphite Boom on Midas Letter Money

Posted by AGORACOM-JC at 10:04 AM on Thursday, May 10th, 2012

Standard Graphite Corp. CEO (TSX.V:SGH) Chris Bogart talks about the forces driving the graphite price higher in this interview with host James West. Standard has a portfolio of projects throughout Canada and is fast-tracking exploration with the objective of becoming a near-term producer of graphite.

Other graphite companies in Canada are earlier stage, and in many cases, much more prospective for graphite than Standard Graphite, which makes it one of the most intriguing companies in this rapidly evolving space. There are many uses for graphite, from lithium ion batteries to next-generation pebble bed reactors.

Click on the image (or copy and paste the link into your browser window) below to watch the video in a new browser window:

The full transcript of the interview is available here:
About Standard Graphite
Standard Graphite Corp is focused exclusively on the exploration and development of a large portfolio of flake graphite properties in Canada. The company is rapidly positioning itself as North America’s premier pure-play graphite exploration company and it controls 100% interest in 13 highly prospective graphite properties within known graphite districts in both Quebec and Ontario. An aggressive 2012 exploration strategy has commenced and will be implemented by a geologic team with the pedigree of a previous world-class graphite discovery.
About Midas Letter Money
Midas Letter Money is the show about commodities, energy, and natural resources and the public companies who seek for and develop them. Hosted by James West and distributed to 450,000 installed subscribers to the Thomson Reuters Insider platform, the show is available at insider.thomsonreuters.com or at http://www.midasletter.com
Contact: James West
(416) 598-9181

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Strike Graphite Intersects 148 Meter Graphitic Zone on Hole #2 at Simon Lake Property

Posted by AGORACOM-JC at 8:25 AM on Thursday, May 10th, 2012

VANCOUVER, BRITISH COLUMBIA–(May 10, 2012) – Strike Graphite Corp. (TSX VENTURE:SRK) (the “Company”) is pleased to provide an update on exploration activities at the Simon Lake Property, located in north-central Saskatchewan.

To date, the company has completed drilling two diamond drill holes within the historic Simon Lake trend, and has commenced drilling of a third drill hole located along the same conductive trend approximately 10 km to the southwest of Simon Lake. The company is pleased to announce that continued success has been achieved; the second drill hole of the program has encountered a 148.7-meter Graphitic zone. Photos of the core will be uploaded to the company website or may be viewed at the following link: http://strikegraphite.com/core-photo-gallery.html

Highlights:

  • Hole SL-12-001 encountered three graphitic intervals beginning at the start of bedrock;
  • Hole SL-12-002 encountered a 148.7 metre graphitic zone.

Recently completed drill hole SL-12-002 encountered approximately 132.5 metres of graphite bearing rocks over a 148.7 metre zone between 72.1 and 220.8 metres depth. Seven individual graphite-bearing intervals range between 5.0 and 40.5 metres wide; and are separated by narrower intervals of trace-to-non-graphite bearing intervals of between 0.9 and 6.0 metres. The hole ended at 240.9 metres depth. SL-12-002 was oriented perpendicular to the strike of the graphite bearing units at Simon Lake, and was orientated at 153° with a dip of -45°. Flake graphite has been encountered in both holes to date; and field determinations indicate that graphite flakes of up to 4 millimeters in length are present.

Hole SL-12-002 was designed to follow up on historic hole 2-72 where historic reports indicate “abundant graphite” between 90 metres to the end of the hole (at 160 metres depth). Descriptions of “abundant” graphite in historic hole 2-72 appear to be relevant to the current hole SL-12-002.

Further to the news release dated May 2nd, 2012, drill-hole SL-12-0001 intersected graphite mineralization at the start the hole, with the most significant intercepts occurring from 10.2 to 23.9 metres (13.7m interval); followed by a second graphitic zone from 45.7 to 69.5 metres (23.8m interval). A third graphitic zone from 93.5 to 102.2 metres (8.7m interval) was also encountered. The hole ended at 240.9 metres depth. This hole was oriented perpendicular to the strike of the graphite bearing unit at the Simon Lake West Target, at a direction of 141°, and a dip of -45°.

Drill hole intervals reported herein are not true widths, which cannot be determined due to uncertain geometry of mineralization at this time.

Currently being tested by hole SL-12-003, the Morell Lake Target, is located at the southwest part of the property approximately 6 km east of Saskatchewan Highway 905. The target is a large and highly conductive structure that 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; it may represent the strike extension of the graphite-bearing lithologies known at Simon Lake. Geophysical modelling of this conductive body suggests a shallow dipping and near-surface conductive zone.

All relevant graphite intersections will be sent for routine analysis for graphitic carbon content and multi-element analysis. Additionally, core will be tested for mineralogical characterization and initial metallurgical testing in order to determine the graphite flake size distribution, purity and recovery.

Blair Way, CEO remarks, “Drill results to date continue to meet our expectations of discovering significant large flake graphite zones. This second hole has yielded close to 150 meters of graphitic material. We look forward to seeing the lab test work results in the coming weeks.”

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 1960′s and 1970′s.

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.

* Readers should be cautioned that flake size determinations in the field are based on visual measurements from the drill core. The flake size as reported may be aggregates of individual smaller graphite flakes. The flake size determination will be confirmed by optical mineralogy during mineral characterization.

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,

Blair Way, C.E.O.

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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Blair Way
Strike Graphite Corp.
C.E.O.
604.669.9330 or Toll Free: 1.866.669.9337
604.669.9335 (FAX)
[email protected]
www.strikegraphite.com

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Lomiko Appoints Kumara Rachamalla, M.B.A., M.Eng., P.Eng. to Board of Advisors

Posted by AGORACOM-JC at 8:24 AM on Thursday, May 10th, 2012

Vancouver BC – LOMIKO METALS INC. (TSX-V:LMR, OTC: LMRMF, FSE: DH8B) (the “Company”)

is pleased to announce that Mr. Kumara Rachamalla, M.B.A,M.Eng., P.Eng. has been appointed to the Board of Advisors. Mr. Rachamalla has extensive experience with various aspects of business including Strategic Planning, Resource Financing and Mining.

“Mr. Rachamalla was a Director of Holmer Gold Mines, taken over by Lake Shore Gold Corp., Kumara was also an Advisory Board member of Augun Gold Mines, acquired by Trelawney Mining & Exploration and of Augen Capital, a merchant bank. He has comprehensive knowledge of the process of financing, planning and building mines throughout Canada. He has a broad network across Canada in government bodies, institutions and companies within the mining industry”, stated A.Paul Gill, CEO of Lomiko Metals Inc., “He knows the milestones required for building a viable mining entity.”

Key Highlights

-Developed and implemented innovative incentive policies for the Government of Ontario,

-Advised public and private sector clients on technical, environmental, natural resource,financial and taxation issues.

-Designed economic, financial and taxation models to develop and assess a broad range of fiscal options and their impact on private sector investments and made recommendations for incorporation into tax statutes.

-Advised institutional investors in Canada, U.S., Europe and the Far East to invest in attractive investment opportunities in the natural resource sector by providing in-depth commodity analysis, combining financial, technical and industry expertise.

-Provided expert opinion in Canadian and U.S. tax courts.

-Raised both equity and debt capital for corporations and advised corporate clients on financing, joint ventures, acquisitions and mergers.

-Developed strategic plans and reviewed project evaluation of the multi-billion dollar Syncrude oil-sands project.

-Evaluated and conducted feasibility studies and ore reserve estimates in Quebec and Yukon Territories as Assistant Chief Mine Engineer.

-Conducted cost-benefit analyses, environmental studies and health and safety surveys for the National Coal Board in the United Kingdom.

Lomiko’s Quatre Milles Graphite Property

The Quatre Milles Property is road accessible and is located approximately 175 km northwest of Montreal and 17 km due north of the village of Sainte-Veronique, Quebec. The property consists of 28 contiguous claims totaling approximately 1,600 hectares.

The property was originally staked and explored by Graphicor Resources Inc. (“Graphicor”) in the summer of 1989 based on the results of a regional helicopter-borne EM survey. The underlying geology consists of intercalated biotite gneiss, biotite feldspar gneiss, marble, quartzite and calc-silicate lithologies of the Central Metasedimentary Belt of the Grenville Province.

Near-Term Strategy

Lomiko plans to mount an aggressive exploration campaign on the Quatre Milles Graphite Property commencing with a complete compilation of historic geologic work followed by surface mapping, prospecting and follow-up diamond drilling.

Historical Highlights

  1. 1Graphicor completed reconnaissance mapping and prospecting as well as ground geophysics and a 26 hole diamond drill program totaling 1,625 metres.
  2. 2
  3. 3The work identified several conductive trends in the central portion of the property and at least three, relatively flat lying graphitic beds.
  4. 4
  5. 5Three surface samples were collected and analyzed returning results of 14.16% Cgf, 18.06% Cgf and 20.35% Cgf.
  6. 6
  7. 723 of the initial 26 drill holes intersected graphite concentrations with graphite concentration in range of 4.69% in hole Q90-1 to a highlight of 8.07% Cgf over 28.60 metres in hole Q90-7. The highest individual assay was reported in hole Q90-10 reporting 15.48% Cgf over 0.50 metres. A table of results from the 43-101 indicates:
  8. 8
 ------------------------------------------
 |HOLE NO.|FROM(M)|TO(M)|WIDTH (M)|GRADE  |
 |        |       |     |         |(% CGP)|
 |----------------------------------------|
 |Q90-1   |8.94   |10.46|1.52     |7.33   |
 |----------------------------------------|
 |Q90-2   |28.68  |30.13|1.45     |10.38  |
 |----------------------------------------|
 |Q90-3   |16.23  |17.84|1.61     |4.09   |
 |----------------------------------------|
 |Q90-4   |9.4    |14.1 |4.7      |3.95   |
 |----------------------------------------|
 |Q90-5   |2      |3.90 |1.90     |2.07   |
 |----------------------------------------|
 |Q90-5   |22.13  |23.25|1.12     |10.52  |
 |----------------------------------------|
 |Q90-6   |32.54  |41.19|8.65     |8.07   |
 |----------------------------------------|
 |Q90-6   |43.47  |44.05|0.98     |3.87   |
 |----------------------------------------|
 |Q90-7   |3.94   |32.54|28.60    |8.07   |
 |----------------------------------------|
 |Q90-8   |1.54   |2.16 |0.62     |14.89  |
 |----------------------------------------|
 |Q90-8   |5.23   |8.05 |2.82     |7.45   |
 |----------------------------------------|
 |Q90-9   |2.05   |3.10 |1.05     |8.47   |
 |----------------------------------------|
 |Q90-9   |5.76   |6.8  |1.04     |10.86  |
 |----------------------------------------|
 |Q90-10  |2.14   |5.54 |3.40     |8.02   |
 |----------------------------------------|
 |Q90-10  |7.03   |7.61 |0.58     |10.59  |
 |----------------------------------------|
 |Q90-10  |8.53   |9.03 |0.50     |15.48  |
 |----------------------------------------|
 |Q90-10  |9.27   |11.24|1.97     |12.37  |
 |----------------------------------------|
 |Q90-10  |14.16  |15.46|1.30     |4.26   |
 |----------------------------------------|
 |Q90-11  |26.82  |34.02|7.20     |4.63   |
 |----------------------------------------|
 |Q90-12  |0.94   |8.53 |7.59     |8.60   |
 |----------------------------------------|
 |Q90-12  |38.16  |43.61|5.45     |3.79   |
 |----------------------------------------|
 |Q90-13  |0.69   |10.28|9.59     |4.64   |
 |----------------------------------------|
 |Q90-13  |40.95  |43.14|2.19     |3.82   |
 |----------------------------------------|
 |Q90-14  |5.56   |7.22 |1.66     |8.12   |
 |----------------------------------------|
 |Q90-15  |2.21   |5.59 |3.38     |9.76   |
 |----------------------------------------|
 |Q90-16  |       |     |         |NSV    |
 |----------------------------------------|
 |Q90-17  |15.48  |18.63|3.15     |8.11   |
 |----------------------------------------|
 |Q90-17  |21.43  |23.67|2.24     |13.29  |
 |----------------------------------------|
 |Q90-17  |36.77  |47.97|11.20    |5.88   |
 |----------------------------------------|
 |Q90-17  |57.15  |58.21|1.06     |9.53   |
 |----------------------------------------|
 |Q90-17  |59.54  |69.82|10.28    |5.99   |
 |----------------------------------------|
 |Q90-18  |10.68  |12.90|2.22     |8.12   |
 |----------------------------------------|
 |Q90-19  |47.80  |49.25|1.45     |9.16   |
 |----------------------------------------|
 |Q90-19  |50.42  |58.49|8.07     |5.72   |
 |----------------------------------------|
 |Q90-20  |13.51  |16.98|3.47     |5.81   |
 |----------------------------------------|
 |Q90-21  |2.80   |4.98 |2.18     |5.56   |
 |----------------------------------------|
 |Q90-22  |17.37  |20.04|2.67     |2.58   |
 |----------------------------------------|
 |Q90-23  |       |     |         |NSV    |
 |----------------------------------------|
 |Q90-24  |1.78   |4.14 |2.36     |3.77   |
 |----------------------------------------|
 |Q90-24  |12.32  |13.09|0.77     |4.20   |
 |----------------------------------------|
 |Q90-24  |16.86  |18.66|1.80     |4.96   |
 |----------------------------------------|
 |Q90-25  |19.69  |21.24|1.55     |3.67   |
 |----------------------------------------|
 |Q90-25  |25.27  |26.65|1.38     |9.66   |
 |----------------------------------------|
 |Q90-26  |       |     |         |NSV    |
 ------------------------------------------

The Company cautions that it has not had the chance to verify the quality and accuracy of the historic sampling and drilling results reported in this news release which predate the introduction of NI 43-101 and cautions readers not to rely upon them. The historic figures were generated from sources believed to be reliable, however, they have not been confirmed. Although the sampling and drilling results are relevant, they have not been verified.

Graphite Market

-The price for flake graphite is $ 2000-$4000 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.

-Graphite prices have almost tripled since 2005 due to the ongoing industrialization of China, India and other emerging economies and resultant strong demand from traditional steel and automotive markets.

-Demand for graphite is expected to rise as electric vehicles and lithium battery technology are adopted, nuclear reactors are built in China, and if fuel cells and graphene patents become products.

-China, which produces about 70 per cent of the world’s graphite, is seeing production and export growth leveling, and export taxes and a licensing system have been instituted.

-Europe and the USA have both indicated graphite is of economic importance and has a supply risk (Critical Raw Materials for the EU, July 2010).

Graphite Facts

-Natural graphite comes in several forms: flake, vein, amorphous and lump.

-Southwestern Quebec is host to some of the most favorable geological terrain for graphite exploration in Canada and is known to host graphite resources, including the nearby Lac Des Iles mine operated by Timcal.

-Graphite has many important new applications such as lithium-ion batteries, fuel cells, and nuclear and solar power that have the potential to create significant incremental demand growth.

-There is roughly 20-30 times more graphite by weight needed to produce a lithium-ion battery than there is lithium.

-Of the 1.2 million tonnes of graphite produced annually, approximately 40 per cent is of the most desirable flake type.

-High-growth, high-value graphite applications require large-flake and high-purity graphite which is the prime exploration and development target at the Quatre Milles Property.

Jean-Sebastien Lavallee (OGQ #773), geologist, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical content of this release.

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

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.

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First Graphite Completes VTEM Survey Over the Henry Graphite Project

Posted by AGORACOM-JC at 2:54 PM on Wednesday, May 9th, 2012

VANCOUVER, BRITISH COLUMBIA–(May 9, 2012) – First Graphite Corp. (TSX VENTURE:FGR) (the “Company” or “First Graphite”) is pleased to announce that Geotech Ltd. has completed the Versatile Time-Domain Electromagnetic (VTEM) geophysical survey over the Company’s Henry Graphite Project (the “Property”). The VTEM survey over the property covered 1452 line kilometres, at 200-metre line spacing. The purpose of the survey, which was completed on May 6, 2012, was to confirm the historically identified graphite-bearing conductors, and to identify new targets for follow-up work.

First Graphite expects to receive preliminary survey results from Geotech Ltd. in the next couple of weeks, at which time it will provide further information. Preliminary and final data will be used by the Company to guide its ground exploration program which will consist of surface sampling, geological mapping and drilling. Interpretation of the final data will be conducted by Living Sky Geophysics Inc., of Saskatoon, Saskatchewan.

Henry Property

The Henry Property consists of six mineral claims covering approximately 22,853 hectares and is located 10 kilometres southwest of the community of Southend, Saskatchewan. Historical exploration suggests that the Property has potential to host a near-surface graphite deposit comprised of scarce, large-flake, high-purity graphite. It is situated within high-grade metamorphic rocks of a sedimentary origin which is an ideal setting for the development of these types of deposits.

The technical information in this news release has been reviewed on behalf of the Company by Neil McCallum, P.Geo., of Dahrouge Geological Consulting Ltd., a Qualified Person pursuant to National Instrument 43-101.

About Geotech Ltd.

Geotech has conducted airborne electromagnetic geophysical surveys for more than three decades using proprietary technology and has created a long history of notable innovations. Innovation is the secret to Geotech’s sustainability, making Geotech the longest running company to offer airborne electromagnetic surveying, world-wide. In the last decade Geotech introduced to the world the first helicopter-borne time domain EM system. The VTEM airborne EM system, with its superior S/N ratio, is still the industry standard, able to detect deep conductors that are “lost” in the noise of other TEM systems.

Graphite

Graphite is a polymer of carbon that comes in three naturally occurring forms – flake, amorphous, and lump. All three are found in metamorphic as well as igneous rocks, varying by grade, particle (mesh) size and moisture content. Graphite exhibits a number of characteristics, which make it a high value industrial mineral with a broad range of applications: it is an excellent conductor of heat and electricity, is resistant to strong acids and thermal shock, is a lubricant, is refractive and has the highest natural strength and stiffness of any known material.

The total worldwide graphite market is currently estimated to be US$12 billion. At present, the largest end use markets for graphite are the steel and automotive industries. However in recent years, emerging markets, including green energy development (fuel cells, solar energy and nuclear power) and batteries (lithium-ion and vanadium-redox) are creating the potential for incremental increases in demand. Meanwhile, the closure of a number of natural graphite mines in China, the world’s largest producer, is reducing world-wide supply.

About First Graphite

First Graphite Corp. is a Vancouver-based mineral exploration company focused on the development of graphite projects in Canada. The company currently has three graphite properties led by its flag ship project, the Henry Graphite Property, located near the Deep Bay Graphite Deposit in north-eastern Saskatchewan, Canada.

This news release contains certain statements that may be deemed “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 that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although First Graphite Corp. 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 realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of First Graphite Corp.’s management on the date the statements are made. Except as required by law, First Graphite Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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.

Contact Information

 

First Graphite Corp.
Andrew Mugridge
Corporate Development
(604) 689 2881

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Continental Energy (CPPXF:OTCBB) Buys First Stake in a Geothermal Energy Project

Posted by AGORACOM-JC at 10:21 AM on Wednesday, May 9th, 2012

Continental Energy Corporation (OTCBB: CPPXF)  announced that it has purchased a 10% stake in Tawau Green Energy Sdn. Bhd. (“TGE“), a privately held company based in Kota Kinabalu, Sabah, Malaysia.

TGE is a geothermal energy developer. On November 29, 2011, TGE entered into a Renewable Energy Power Purchase Agreement (the “PPA“) with Sabah Electricity Sdn. Bhd. (“SESB“) to supply a capacity of 30 megawatts of electrical power to SESB’s East Coast Sabah power grid. SESB is a utility owned 80% by Tenaga Nasional Berhad, the federally owned electrical generation authority and utility of Malaysia and 20% by the State Government of Sabah. TGE is developing a volcano related geothermal resource known as “Apas Kiri” which is located in southern Sabah near the city of Tawau approximately 100 miles north of Continental’s Bengara-II oil and gas PSC in Indonesia.

TGE will build, own and operate the geothermal power plant and expects to construct it at an estimated total cost of 400 Million Malaysian Ringgit (“MYR“) (approximately US$ 133 Million). TGE plans to commission the plant by the end of 2014 and when completed, it will be Malaysia’s first power plant fired by a geothermal resource.

The PPA provides for a fixed purchase price by SESB of MYR 0.21 per kilowatt hour (approximately US$ 0.07) and a guaranteed off-take of all power the geothermal plant can produce for a fixed term of 21 years from first commercial operation. Over the 21 year life of the PPA, TGE expects to generate about US$ 328 Million in revenues at the PPA price. Additionally, TGE has applied for a Feed-In Tariff incentive from the Malaysian Government which if and when approved, would increase the overall revenue projection.

Richard McAdoo stated, “This acquisition of a 10% stake in TGE is a milestone event for Continental. It represents that all important, first big-step of our planned expansion into the renewable electrical power generation sector in a high growth region. The countries of Southeast Asia are all aggressively pursuing additional electrical power generation as the solid growth of their economies places unprecedented demand on current electrical generation capacity. As a result, clean, sustainable and renewable energy projects are generating major interest from regional financing sources and are attracting substantial investment incentives from the highest levels of government. The rapid and impressive track record of TGE in bringing the Apas Kiri geothermal project from concept to PPA is an excellent example of one of many attractive business opportunities available to innovative renewable and unconventional energy companies in Southeast Asia. We are extremely pleased to be joining TGE in this business venture and we are confident that our expertise in geological resource evaluation, risk management, and drilling will make a major contribution to TGE’s success.”

IR Hub / Discussion Forum

Source: http://agoracom.com/ir/continentalenergy/forums/discussion/topics/531444-continental-buys-first-stake-in-a-geothermal-energy-project/messages/1680203#message

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