Berkwood extends claims at Prospect Valley gold property to 2017 and relinquishes option on Peter Lake Property, Quebec – Focus Remains on Graphite and Gold Projects
October 30, 2013 (Source: Berkwood Resources) — Berkwood Resources Ltd. (TSX-V: BKR) (“Berkwood” or the “Company”) is pleased to announce that it has applied for and received an extension on all of its 25 mineral claims at the 10,871 Ha Prospect Valley Gold Property, near Merritt BC. Berkwood’s mineral claims on the Property have now been extended until February 28, 2017 by Mineral Titles BC, allowing for Berkwood to continue its ongoing exploration work on the Property. The Company further announces that it has relinquished its option to acquire 100% interest in the Peter Lake Copper Property, located 90 km from Mont-Laurier, Quebec. The Company has decided to focus its efforts and capital on graphite and gold exploration, specifically on exploration programs at the Lac Guéret East Graphite Property, Quebec and its 100% owned Prospect Valley Gold property in British Columbia. Berkwood plans to soon announce a phase 2 exploration program at the Lac Guéret East Graphite Property.
Prospect Valley Gold Property, British Columbia:
To date several areas of gold mineralization have been identified on the 10,871 Ha Prospect Valley Gold Property. The majority of historic drilling has taken place in the centre of the claim block along the Discovery Trend. This drilling has outlined an extensive low grade epithermal gold system with indications of potential for additional and higher grade mineralization at depth. The system remains open for expansion and other known zones of gold mineralization have yet to be drilled (see Berkwood news release dated January 25, 2012 for details).
Lac Guéret East Graphite Property, Quebec:
Berkwood’s Lac Guéret East Graphite Property consists of 63 claims totalling 3402 Ha and is adjacent to the eastern boundary of Mason Graphite’s Lac Guéret Property. Mason Graphite’s Lac Guéret deposit has NI 43- 101 compliant measured & indicated mineral resources of 7.6 million tonnes grading 20.40% Cgr (Carbon as graphite). During prospecting by Berkwood in 2012 the first graphite bearing zone on the Property was discovered (see Berkwood news release dated October 29, 2012) and this year four additional contiguous claims where acquired by the Company which cover a reported graphite showing discovered in 2011 during geological mapping by government geologists of Géologie Québec. The graphite mineralization is described as massive with elevated Cgr values (see Berkwood news release dated July 18, 2013).
George Gorzynski, P.Eng., a Director of Berkwood and a Qualified Person under the definition of Canadian National Instrument 43-101, approved the technical information in this new release and is monitoring the field programs.
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On Behalf of Berkwood Resources
Brian Buchanan, President and Director
Forward Looking Statements
This Berkwood News Release may contain certain “forward-looking” statements and information relating to Berkwood that are based on the beliefs of Berkwood’s management as well as assumptions made by and information currently available to Berkwood’s management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitation, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. Except as required by law, Berkwood does not assume the obligation to update any forward-looking statement.
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Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>