Bluenose Gold Corp.: Zenyatta West Graphite Prospect to Be Acquired
July 17, 2013 — Vancouver, BC (Source: Marketwired) — Bluenose Gold Corp. (TSX VENTURE:BN.H) is pleased to announce that it has agreed to acquire a 100% interest in 16 mineral claims named the “Zenyatta West Graphite Project”. Bluenose’s Zenyatta West Graphite Project is contiguous on the west boundary of Zenyatta Ventures Ltd.’s Albany (hydrothermal) graphite deposit discovery located in Northern Ontario, Canada.
Bluenose’s Zenyatta West Graphite Project is prospective for significant hydrothermal graphite.
Zenyatta recently discovered the Albany (hydrothermal) graphite deposit. Zenyatta continues to report significant drilling intercepts and carbon grades including as recently as July 2, 2013. The Zenyatta graphite deposit corresponds with a magnetic low that was detected by aeromagnetic survey.
A significant magnetic low appears to be located on Bluenose’s Zenyatta West Graphite Project.
Hydrothermal graphite is described as high purity, light-weight, highly conductive material. Hydrothermal graphite plays an increasingly important role in our everyday lives: for instance as a major component in lithium-ion batteries. Lithium-ion batteries have 10 to 20 times more graphite than lithium batteries. Sales for these important batteries are increasing and are expected to increase significantly. Hydrothermal graphite’s quality gives it an expanding future as a key component in important products in rapidly expanding markets. Environmentally friendly electric vehicles including the Tesla and industrial vehicles, smart phones, tablets, laptops, e-bikes, e-motorcycles and e-scooters all contribute to increasing market demand for hydrothermal graphite. Hydrothermal graphite is important for storage on smart grids and for off grid power supplies. The future seems very bright for hydrothermal graphite and hydrothermal graphite suppliers.
Under the terms of the purchase agreement, Bluenose can acquire a 100% interest in the Zenyatta West Graphite Project by paying $20,000 to the vendor and issuing 1,500,000 common shares to the vendor within 10 days of TSX Venture Exchange acceptance for filing of the purchase agreement. A 1% royalty has been reserved in favour of the vendor, a private exploration corporation. The acquisition of the Zenyatta West Graphite Project is subject to acceptance for filing by the TSX Venture Exchange.
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This news release was reviewed and approved by Bohumil (Boris) Molak, PhD., P.Geo, the Qualified Person for this project.
BLUENOSE GOLD CORP.
RAYMOND W. ROLAND, President
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>