Albany graphite deposit has exceptional size potential – Zenyatta President Eveleigh

558

Zenyatta VenturesTHUNDER BAY – Mining Now – The ‘second’ Ring of Fire, graphite exploration in Northern Ontario continues to generate interest. Zenyatta Ventures Ltd. (“Zenyatta” or “Company”) (TSX VENTURE:ZEN) have announced the following significant graphite results from the first two (2) holes of the current drill campaign on the Albany Graphite Deposit.

“Drill hole #3 (Z12-4F3), 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. An upper zone of graphitic breccia was intersected from 56.7 m to 104.5m yielding 3.3% C over 47.8m. Another, wider and richer, zone of graphitic breccia was intersected from 133.0m to 265.0m and yielded an average of 3.8% C over 132.0m, with sections grading as high as 11.4% C. This represents the largest intersection of graphitic breccia mineralization drilled to date in the deposit. A number of graphite-rich veinlets and clasts from these sections were identified and isolated for further analyses. These results are expected over the next several business days.

“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 hole defined this contact and intersected a wide zone of graphitic breccia, where the breccia pipe model predicted it would be located. The drill hole intersected graphitic breccia from 392.4m to 439.9m and yielded 3.0% C over 47.5m.

Aubrey Eveleigh, President and CEO stated “The Company is very excited with these latest drill-hole results. They confirm that the Albany graphite deposit has exceptional size potential. The Company expects to release further news next week on more drilling presently being completed 450m east of the above reported drill holes.”

“The Albany Graphite Deposit is a hydrothermal (magmatic) breccia, possibly related to the emplacement of a carbonatite intrusion. A similar deposit would be the vein graphite deposits of Sri Lanka (Ceylon Graphite Deposits). The vein graphite has been interpreted as being derived by CO2 and CH4 rich hydrothermal fluids. This CO2 rich fluid could promote hydraulic fracturing (brecciation) and precipitation of vein graphite. Graphite veins are unique and quite rare, and only a few of them are described in the geologic literature. The Bogala Mine, a Sri Lankan graphite deposit, has been in production since 1847. It is a high grade, narrow vein, underground mine. Sri Lankan graphite still enjoys a great demand due to its unusually high purity and unique physical properties,” states the company in a news release.

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. ACTLABS preparation protocol Code RX1 and 4F – C,S with Infrared analysis. The crushed sample is inserted into an induction furnace in a pure oxygen environment and combusted, yielding CO2. This is measured in IR (infrared detecting) cells, using an Eltra CS-2000.

James Murray
Chief Content Officer

Legal Disclaimer: I am offering ideas for your consideration and education. I am not offering financial advice. I am not a financial or investment advisor and am acting in the sole capacity of a writer. I am a fellow investor and trader sharing his thoughts for educational and informational purposes only. No compensation is received by the author or NetNewsledger.com from any of the companies mentioned for the recommendation of a stock in this service (if this changes or there is exception-it will be clearly disclosed to our readers).

Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided on Netnewsledger.com is based on careful research and sources that are believed to be accurate, the author and Netnewsledger do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published on Netnewsledger.com belong to the author, or respective associates. They are neither an offer nor a recommendation to purchase or sell securities. NetNewsledger.com does not recommend services, products, business or investment in any company mentioned in any of his essays or reports. Materials published on NetNewsledger.com have been prepared for your private use and their sole purpose is to educate readers about various investments.

By reading our reports you fully agree that NetNewsledger.com will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. We strongly advise that you consult a certified investment advisor and we encourage you to do your own research before making any investment decision.

Previous articleWebiquie First Nation issues statement on Ring of Fire
Next articleAroland Chief Gagnon – Ontario thought they could divide and conquer us
NetNewsledger.com or NNL offers news, information, opinions and positive ideas for Thunder Bay, Ontario, Northwestern Ontario and the world. NNL covers a large region of Ontario, but are also widely read around the country and the world. To reach us by email: newsroom@netnewsledger.com Reach the Newsroom: (807) 355-1862