Caribou King Resources Ltd.: Multiple New Graphite Veins and Conductors Discovered at Buckingham Graphite Property, Quebec
November 12, 2013 (Source: Marketwired) — Caribou King Resources Ltd. (“Caribou” or the “Company”) (TSX VENTURE:CKR)(OTCBB:CBULF) is pleased to announce that initial field work and prospecting has resulted in multiple new graphite vein and large flake discoveries at the Buckingham graphite property, situated approximately 750 meters west of the historic Walker Graphite Mine in Quebec that produced graphite from 1876 to 1920. These new discoveries were located in subcrops using a Beep Mat that returned readings indicating some of the strongest conductors recorded, compared to values from subsurface anomalies detected previously. Disseminated graphite flakes in some exposures exceeded two centimeters in diameter, and have been submitted for assay with results expected shortly.
Multiple new conductors have also been identified along the southeastern border of the property in close proximity to the historic Walker Graphite mine. Similar geology is shared throughout the area and follow-up EM surveys and drilling are planned to test these highly anomalous areas. The Buckingham property is comprised of eight claim blocks totaling 4.81 km², situated in southwestern Quebec in the Central Metasedimentary Belt of the Grenville Geologic Province. Graphite occurs in veins or is disseminated within diopside skarn, marble and gneiss.
Michael England, CEO & Director states, “Buckingham is yet another significant graphite discovery in our portfolio of highly prospective graphite properties. With recent graphite discoveries at our TAC, Calumet, and Mulloy properties, the success at Buckingham is the fourth in a series of successful exploration programs. Follow up work is being planned for Buckingham, with phase two work programs at Calumet, TAC and Mulloy to commence shortly.”
The technical contents of this release were approved by Dr. Michel Boily, P. Geo., qualified person as defined by National Instrument 43-101. The property has not been the subject of a National Instrument 43-101 report, and Dr. Boily 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. These include: Mulloy and Nezen in Ontario that are near to or adjoin the Zenyatta Ventures Ltd. Albany graphite project; TAC in Quebec with historic drilling including 9.86% Cgf over 46.75 meters; Lac Vert in Quebec with graphite intersections in three historic drillholes; Calumet in Quebec that is contiguous to the Canada Carbon (TSX VENTURE:CCB) Miller hydrothermal lump-vein graphite project; Buckingham that is located 750 meters west of the historic Walker Graphite Mine; St. Aime property that is contiguous with the Timcal Graphite Mine, currently Canada’s only producing graphite mine. Caribou is advancing each of these projects through multiple active exploration programs now underway.
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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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