THUNDER BAY – Mining Now – Zenyatta Ventures Ltd. (“Zenyatta” or “Company”) (TSX VENTURE:ZEN) are providing another update on the company’s current drilling campaign on the Albany Graphite Deposit. 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.”
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.
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 release.