Bluenose to Acquire Albany North (Hydrothermal) Graphite Project
September 26, 2013 (Source: Marketwired) — Bluenose Gold Corp. (TSX VENTURE:BN.H) announces that it has entered into an option agreement to acquire the Albany North (Hydrothermal) Graphite Project. This land package was recently staked and was highly sought after by Bluenose. Zenyatta Ventures Ltd. has reported a significant discovery at its Albany (Hydrothermal) Graphite Project located immediately south of Bluenose’s Albany North (Hydrothermal) Graphite Project in Northern Ontario.
Hydrothermal graphite exploration targets are considered to be very prospective generally in the area. Bluenose considers its Albany North (Hydrothermal) Graphite Project to be a very prospective target and an important acquisition based on the strong recommendations for its acquisition by its consulting geologist, Dr. Boris Molak. It is immediately north and adjacent to Zenyatta Ventures Ltd.’s Albany (Hydrothermal) Graphite Project where Zenyatta Ventures Ltd. has discovered a very unique hydrothermal graphite deposit.
Metallurgical testing made on graphite samples from Zenyatta’s Albany Prospect reportedly indicate ultra-high purity graphite (99.99% carbon) can be achieved through simple and relatively inexpensive caustic (NaOH) bake process. This graphite variety has physical properties superior to synthetic graphite. It is important in many industrial applications. Bluenose believes advances in science and technology indicate that this type of graphite will become critical for the newly emerging technologies such as electronics, super conductors, lithium-ion batteries, refractories and much more.
To acquire a 100% interest in the Albany North (Hydrothermal) Graphite Project, Bluenose is required to issue a total of four million shares, 1 million shares on TSX approval and 1.5 million shares in September 2014 and 2015, all to a private arm’s length vendor. Bluenose is the operator. There is no royalty. The Albany North (Hydrothermal) Graphite Project is comprised of 16 claim units.
The technical content of this news release was reviewed and approved by Bohumil (Boris) Molak, PhD, P.Geo, the Qualified Person for this project as defined by National Instrument 43-101. Dr. Molak has not verified the technical data disclosed in this news release. Dr. Molak’s expertise includes exploration and research into carbonaceous and graphite-bearing formations using organic and inorganic geochemistry, stable isotopes and geophysical methods. Dr. Molak’s research results were presented in several reports and referenced geo-scientific papers published internationally.
Bluenose continues to seek additional acquisitions of property interests.
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BLUENOSE GOLD CORP.
JOHN BRYDLE, Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC’s mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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>