Valterra Begins Drilling Graphite Targets at the Bobcaygeon Project
March 25, 2013 (Source: Marketwire) Vancouver, BC — Valterra Resource Corporation (TSX VENTURE:VQA)(FRANKFURT:3VA) reports that a diamond drill rig has been mobilized onsite and commenced coring at the +160 sq. km. Bobcaygeon Graphite Project in southern Ontario. The company is utilizing a portable ‘Prospector 89’ drill rig which is capable of drilling several near-surface targets recently identified by trenching, mapping and geophysical surveys. The primary focus is to test proximal zones to the Discovery Zone trench which has returned excellent metallurgical, analytical and geophysical results.
Previously reported Bobcaygeon highlights include:
- High-Purity Concentrate from Discovery Trench Metallurgy (see NR-05-13)◦99.14% C returned in fine flake leach test (Double LOI) and 100% C(t) by Leco.
- Geophysics Outlines Large Target Area (see NR-02-13)◦Excellent IP, EM and MAG data was received from an 11 line-km survey centred on the Discovery Zone trench. The most prominent drill-ready feature is an open-ended, near surface IP chargeability anomaly covering an 800m x 400m area.
- High-Grade Channel Sampling Results Reported (see NR-01-13)◦36.8% Cg over 1.5m (minimum thickness) & 20.2% Cg over 1.4m (minimum thickness) in Discovery Zone trench sampling which also exposed approximately 20m of strike length with trenching bottoming in graphite.
The drill program is intended as a lead up to a more extensive drilling campaign which is currently being planned to systematically test the large geophysical target area, and other key anomalies and showings identified within the large property package.
Graphite is a naturally occurring form of carbon with wide-ranging and unique physical properties. Graphene is derived from graphite and is one of the strongest known substances with a tensile strength 200 times the strength of steel. The industrial development of graphene is at an early stage but will eventually become a replacement for several expensive electronic components such as silicon semi-conductors. There are three natural primary graphite occurrences – vein, flake, and amorphous where the highest quality product can command prices in excess of $2,000 per tonne. In pricing graphite, the flake size is a key factor with the large flake (> .178mm) ores commanding the highest prices in markets dominated by multi-national eco-automobile manufacturers, high-tech industries and nuclear energy companies. Recent pricing and demand increases have accelerated numerous exploration and investment opportunities in the graphite market.
The Province of Ontario is an excellent locale to explore owing to superior geology, geoscience knowledge, infrastructure, political stability and tax incentives. Several projects are advancing in the graphite field including Northern Graphite Corporation, Zenyatta Ventures Inc. and Ontario Graphite Ltd.
The Bobcaygeon property is hosted in rocks of the Grenville geological province which hosts most of the known significant graphite deposits in Canada.
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Valterra is a Manex Resource Group Company. The group provides expertise in exploration, administration, and corporate development services for Valterra’s mineral properties located in British Columbia and Ontario. Valterra is focussed on early stage properties with the potential to host large deposits, in regions with excellent infrastructure. Over the last several years, Valterra has acquired and is exploring several key projects including “Star-Toughnut”, “Swift Katie” and “Bobcaygeon” which are located near roads, rail, power, and resource communities in Canada.
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. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for Valterra Resource Corporation’s projects, and the availability of financing for Valterra Resource Corporation’s development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Valterra Resource Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
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