Brookemont to Acquire the “Kenagami” Hydrothermal Graphite Prospect in Ontario
November 13, 2013 (Source: Marketwired) — Brookemont Capital Inc. (“BKT” or the “Company”) (TSX VENTURE:BKT)(PINKSHEETS:BKTPF)(FRANKFURT:BRO) is pleased to announce it 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 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.
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.
Get our daily investorintel update
Mr. Kristopher J. Raffle, P.Geo., Principal and Consultant of APEX Geoscience Ltd. is the qualified person for the project as defined by National Instrument 43-101 and he has reviewed the technical content of this news release as it relates to the Kenagami Prospect.
BKT announces that it has also cancelled the placement that was announced August 9th. At this time BKT has sufficient flow through funds to continue with the planned upcoming work program in 2013.
Conrad Clemiss, President, Director
Brookemont Capital Inc.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
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>