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Strike Identifies New 2 km Long Conductor at Deep Bay East Graphite Project

Posted by AGORACOM-JC at 10:38 AM on Wednesday, February 29th, 2012

Strike Identifies New 2 km Long Conductor at Deep Bay East Graphite Project

The company completed the previously announced helicopter-borne VTEM – Electromagnetic Survey of its Deep Bay East Graphite property located within north eastern Saskatchewan.

Preliminary data from the VTEM survey has highlighted a strong conductive horizon associated with the known graphite mineralization at Deep Bay East, and extending well beyond the known limits of the historic mineralization. Based upon the preliminary survey data, the historic conductor was confirmed at approximately 2.5 km strike length. A second conductor, approximately 2 km in length, was identified. Based on its orientation and regional mapping, the new conductor likely represents a structural repetition (folding) of the mineralized Deep Bay East horizon, and thus represents a high-priority exploration target.

Historic exploration of the Deep Bay East Property, confirmed potential for near surface, large flake, high-purity graphite deposit(s) as a result of surface trenching, mapping, and EM Ground Survey(s) and four diamond drill holes over a 1,600 metre east – northeast tending conductor. This highly conductive zone, first identified in the 1970’s, was confirmed by the recent VTEM survey. Some of the historic results include:

DB-1: 22.9 metres averaging 4.02% C beginning at a depth of only 10.7 metres;
DB-2: 35.1 metre interval of 8.58% C
DB-3: 13.1 metres averaging 8.97% C at depth of 7.32 metres and 9.06% C from 60.96 metres to 71.63 metres (10.67 m).

Approximately 15 kilometres to the west of the Deep Bay East property, the Deep Bay Graphite Mine is currently being advanced toward production. The geology and grades of the Deep Bay East Project appear similar to the Deep Bay mine’s deposit.

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Strike Graphite is an AGORACOM Sponsor