Soldi Focuses on Lochaber Graphite Property
February 12, 2013 (Source: Marketwire) Vancouver, BC — Soldi Ventures Inc. (Soldi) (TSX VENTURE:SOV) reports that it has retained a consultant to review information on Soldi’s Lochaber Graphite Property in order to prepare a work program to include drilling as soon as possible.
Soldi’s Lochaber Graphite Property is approximately 20 kilometres east of Galaxy Graphite Corp.’s Buckingham Project located in Québec. Galaxy recently announced its assay results from its fall 2012 mapping and sampling program on the Buckingham graphite project in Québec. One sample taken from the property analyzed for size distribution contains 11.5% graphitic carbon, with 54.42% of the large flakes in excess of 80 mesh. Galaxy’s Buckingham graphite property comprises of two former producing mines, located just east of Buckingham, Québec. The mines are located in the highly prospective Central Metasedimentary belt of the Grenville geological province, host to many active graphite projects. The host rocks for both deposits are graphitic crystalline marbles, similar to the host stratigraphy at Timcal’s Lac des Iles graphite mine, currently Canada’s only producing graphite mine. The two properties cover a total of 1,324 hectares on 22 mining claims. (see Galaxy’s news release dated February 7, 2012 for more details).
Soldi’s Lochaber Graphite Property covers 930.77 hectares and had been the target of exploration in the early 1950′s and again in the 1980′s during which time an airborne survey (in report DP 83-05) was flown to further define targets. A strong, wide airborne conductor was discovered and a ground visit to the location revealed massive flake graphite. The property is located approximately 50 kilometers east of Ottawa-Gatineau, near a highway in a historic graphite mining district.
In a 1952 report it was reported that “trenches were bulldozed by Frobisher Exploration, stripping overburden of 3-18 inches perpendicular to the strike of the Graphite zone. 10 trenches were stripped every 50 feet for 550 feet of the zone. The graphite exposed ranged from 3 feet to over 10 feet in the last 150 feet of the zone. The graphite zone trends along a steep valley that has a strike of N85E.” The author visually estimated grades of 10% to 15% graphite. A pit 1,500 feet west of this zone exposed graphite bearing rock. A government airborne electromagnetic-magnetic survey detected conductors on three lines, showing parallel zones to the one which was trenched.
The technical information in this news release has been written and/or reviewed by Mike Magrum, PEng, a Qualified Person as defined in NI 43-101. Note: Grab samples are selective by nature and are unlikely to represent average grades on the property.
Soldi Ventures Inc. (TSX VENTURE:SOV) is a Canadian junior exploration company focused on discovering gold and graphite deposits in politically safe jurisdictions.
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This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. The production rate and mine-life projections have been made without support of a feasibility study, there is no certainty the proposed operations will be economically viable. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as “reserves” unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
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