Kenagami Hydrothermal Graphite Prospect
THUNDER BAY – Brookemont Capital Inc. has announced that the company has entered into an agreement to acquire a 100% interest in the “Kenagami” Hydrothermal Graphite Prospect from an arm’s length vendor subject to TSX Venture Exchange approval. The announcement is following recent news from Zenyatta Ventures that the Government of Canada is supporting the project with funding for technical advisory services and a financial contribution of up to $350,000 from NRC-IRAP to help support the on-going metallurgical testing at SGS Canada Inc., of two 5 tonne mini-bulk samples from the East and West graphite pipes of the 100 percent owned Albany (Hydrothermal) deposit located in northeastern Ontario, Canada.
The region of Ontario where the graphite excitement is building has been dubbed the ‘Arc of Fire’. This in contrast to the ‘Ring of Fire’ where chromite has been touted with greater public and provincial interest.
Brookemount states, “The Kenagami Prospect was acquired following a review Ontario alkalic-carbonatite complexes and publicly available airborne magnetic and electromagnetic survey datasets. The recently discovered Zenyatta Ventures Ltd. (“Zenyatta”) Albany (Hydrothermal) Graphite Deposit occurs within the approximately 25 x 15 kilometre Nagagami River Alkalic Complex defined by a prominent circular airborne magnetic anomaly”.
In a media statement the company says, “Brookemont’s Kenagami Hydrothermal Graphite Prospect occurs within a large composite alkalic complex that has the potential to host hydrothermal graphite mineralization similar to Zenyatta’s Albany Deposit. Recent 200 metre-spaced airborne magnetic data covering the Kenagami Prospect defines a high-priority zoned circular magnetic anomaly; part a series of alkalic-mafic-ultramafic and carbonatite complexes forming an arc line approximately 150 kilometres long that Zenyatta has termed “Arc of Fire”.
In the upcoming weeks, Brookemont plans to complete an airborne magnetic and electromagnetic survey over the Kenagami Prospect. Hydrothermal graphite mineralization similar to Zenyatta’s Albany Deposit is interpreted to form during the late stage alkalic magmatism, which can produce strong discrete conductive geophysical anomalies amenable to rapid diamond drill testing. At present, no hydrothermal graphite mineralization has been identified within the claims. However, the Prospect has geologic and geophysical characteristics similar to the Zenyatta property and is a high priority for exploration.
Conrad Clemiss, President of Brookemont states, “This is a very exciting addition to BKT’s projects. We are building up a strong suite of prospects within this new hydrothermal graphite district and look forward to mobilizing crews in the coming days to test both of the projects BKT has within this district. BKT already has the “Albany East” prospect that directly borders the Zenyatta discovery. Management is optimistic about what the future value of these prospects will bring to BKT shareholders.”
The terms of the acquisition will be call for $20,000 payable within 13 months of TSX Venture approval and for 4 million shares, with 2 million upon approval and the other 2 million with 13 months of approval. The Prospect consists of a single block of 4 claim units totaling 174 acres.