Caribou Acquires Montpellier Graphite Property, Quebec
December 12, 2013 (Source: Marketwired) – Caribou King Resources Ltd. (“Caribou” or the “Company”) (TSX VENTURE:CKR)(OTCBB:CBULF) is pleased to announce the acquisition of the Montpellier graphite property, located approximately 67 kilometers north-northeast of Ottawa, Ontario. The property hosts graphite mineralization in a zone 15 meters wide, and exposed through historical drilling and trenching over a strike length of 250 meters. Historical drilling at Montpellier included one drill hole with a weighted average of 10.47% Cg over 44.97 meters and 12.33% Cg over 21.64 meters.
The Montpellier property covers 359 contiguous hectares, with graphite mineralization associated with the highly metamorphosed sedimentary rocks of the Grenville geological sub-province. The lithologies include quartzofeldspathic and garnetiferous paragneiss, with the graphite mineralization occurring as large flakes interbedded parallel to the schistosity of the paragneisses. The main graphite zone has a width of about 15 meters and was traced by means of trenching and drilling for more than 250 meters along strike. Two other graphite zones occur 575 meters east of the main zone of mineralization. Assay results from historical drilling performed in the 1980’s reported a weighted average of 10.47% Cg over 44.97 meters and 12.33% Cg over 21.65 meters (1984, Ministere de l’Energie et de Ressources Quebec, Report Nos. GM42965, 80p; GM41744, 41p.). Note that estimates of true thickness were not determined in the historical drilling.
Michael England, CEO & Director states, “Montpellier is a strategic addition to our portfolio of graphite properties. A work program is now being developed to follow up on the historical graphite drilling discoveries and expand on known graphite mineralization. Caribou also anticipates the timely commencement of a drill program on our 100% owned Mulloy graphite property following the recent discovery of numerous conductors throughout the property.”
The technical contents of this release were approved by Mr. Luc Lamarche, P. Geo., consultant to Caribou and a qualified person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report, and Mr. Lamarche has not verified the technical data disclosed in this release.
About Caribou King Resources
Caribou King Resources Ltd. (TSX VENTURE:CKR) is a publicly-listed, Canadian junior exploration company that holds a portfolio of highly prospective mineral properties located throughout Canada, including its seven newly-acquired graphite projects.
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On Behalf of the Board of Directors
CARIBOU KING RESOURCES LTD.
Michael England, CEO and Director
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
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