EDITOR: | September 4th, 2013 | 2 Comments

Zenyatta; Drilling on West Pipe Yields Significant New Graphite Results

| September 04, 2013 | 2 Comments
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ZenyattaSeptember 4, 2013 (Source: Marketwire)  — In-fill Drilling on East Pipe Continues to Intersect Wide Zones of Graphite Mineralization; Metallurgical Drill Hole Intersects Multiple Zones of Graphite Breccia Mineralization over 464 Metres

Zenyatta Ventures Ltd. (“Zenyatta” or “Company”) (TSX VENTURE:ZEN) is pleased to announce the following results from drilling on the East and West pipes of the 100% owned Albany (Hydrothermal) Graphite Deposit located in northern Ontario, Canada.

In reviewing the latest drill results, Aubrey Eveleigh, President and CEO stated, “We are very pleased to see initial drill holes on the West pipe confirming the existence of a second large graphite breccia body. The West pipe appears to be larger in diameter than the East pipe and closely reflects the circular conductivity anomaly defined by a ground EM (‘electromagnetic’) survey. Drilling to date on the West pipe has not yet identified the western limit of mineralization. Additional holes will be required before the overall dimension can be established.”

To date, 13 holes have been drilled on the West pipe and 25 holes have been drilled on East pipe. The current drill campaign contemplates an additional 8-10 definition holes on both pipes and 3 large-diameter (HQ) holes on the East pipe to recover a 5 tonne bulk sample for metallurgical test work. As of the date of this news release, the first metallurgical hole (M01) drilled on the East pipe had intersected multiple zones of graphite breccia mineralization over 464 metres (“m”). Once these holes are complete, the 2013 drilling campaign will conclude and a NI 43-101 resource statement will be prepared by independent consultants RPA Inc. A plan map of the current drilling program is available at www.zenyatta.ca.

The following graphitic carbon (‘Cg’) assay results were yielded from holes 25 32 drilled on the East and West Pipes:

  • Hole 32 (West) yielded 100.3 m @ 3.7% Cg from 119.7 m to 220.0 m within a wider intersection of 260.7 m of graphite mineralization grading 2.1% Cg from 106.8 m to 367.5 m.
  • Hole 31 (West) yielded 139.6 m @ 4.1% Cg from 65.0 m to 204.6 m within a wider intersection of 294.0 m of graphite mineralization grading 2.6% Cg from 65.0 m to 359.0 m.
  • Hole 30 (West) yielded 129.0 m @ 3.4% Cg from 63.0 m to 192.0 m within a wider intersection of 229.2 m of graphite mineralization grading 2.6% Cg from 63.0 m to 292.2 m.
  • Hole 29 (West) yielded 100.0 m @ 2.8% Cg from 61.0 m to 161.0 m within a wider intersection of 243.0 m of graphite mineralization grading 2.0% Cg from 60.0 m to 303.0 m.
  • Hole 28 (East) yielded 115.5 m @ 6.9% Cg from 94.3 m to 209.8 m within a wider intersection of 269.0 m of graphite mineralization grading 3.3% Cg from 70.0 m to 339.0 m.
  • Hole 27 (West) yielded 47.0 m @ 3.8% Cg from 248.0 m to 295.0 m within a wider intersection of 153.1 m of graphite mineralization grading 1.3% Cg from 183.0 m to 336.1 m. A gabbroic dyke displaced the graphite mineralization in this hole.
  • Hole 26 (West) yielded 118.4 m @ 3.4% Cg from 100.6 m to 219.0 m within a wider intersection of 217.2 m of graphite mineralization grading 2.4% Cg from 100.6 m to 317.8 m. Second Zone: 26.1 m @ 3.3% Cg from 410.0 m to 436.1 m.
  • Hole 25 (East) yielded 101.7 m @ 5.5% Cg from 62.3 m to 164.0 m within a wider intersection of 150.7 m of graphite mineralization grading 3.9% Cg from 62.3 m to 213.0 m. (All lengths reported are drill intersected core lengths and do not represent true widths).

The East Pipe graphite mineralization is oval-shaped with dimensions of approximately 150 metres (“m”) in a NE-SW direction by 300 m in a NW-SE direction and to a depth of 500 m. It is showing good vertical continuity and remains open at depth. The East Pipe consists of a higher grade core of graphite breccia which is typically surrounded by a broad halo of graphite overprinted granite.

Holes 10-24 were previously announced and included here for reference:

  • Hole 24 yielded 150.6 m @ 4.8% Cg from 61.0 m to 211.6 m within a wider intersection of 191.0 m of graphite mineralization grading 3.8% Cg from 61.0 m to 252.0 m.
  • Hole 23 yielded 96.3 m @ 5.3% Cg from 83.0 m to 179.3 m within a wider intersection of 179.0 m of graphite mineralization grading 3.1% Cg from 62.0 m to 241.0 m.
  • Hole 22 yielded 137.0 m @ 5.0% Cg from 63.0 m to 200.0 m within a wider intersection of 198.0 m of graphite mineralization grading 3.5% Cg from 63.0 m to 261.0 m.
  • Hole 21 yielded 140.6 m @ 4.8% Cg from 89.0 m to 229.6 m within a wider intersection of 228.0 m of graphite mineralization grading 3.1% Cg from 63.0 m to 291.0 m.
  • Hole 20 yielded 128.0 m @ 5.5% Cg from 61.0 m to 189.0 m within a wider intersection of 241.5 m of graphite mineralization grading 3.1% Cg from 61.0 m to 302.5 m.
  • Hole 19 yielded 110.0 m @ 4.2% Cg from 66.0 m to 176.0 m within a wider intersection of 176.0 m of graphite mineralization grading 2.7% Cg from 66.0 m to 242.0 m.
  • Hole 18 yielded 154.0 m @ 4.8% Cg from 133.0m to 287.0 m within a wider intersection of 258.0 m of graphite mineralization grading 3.1% Cg from 101.0 m to 359.0 m.
  • Hole 17 yielded 67.2 m @ 3.0% Cg from 322.0 m to 389.2 m within a wider intersection of 192.4 m of graphite mineralization grading 1.7% Cg from 236.6 m to 429.0 m.
  • Hole 16 yielded 62.3 m @ 4.2% Cg from 291.0 m to 353.3 m within a wider intersection of 135.3 m of graphite mineralization grading 2.3% Cg from 258.0 m to 393.3 m. (All lengths reported are drill intersected core lengths and do not represent true widths).
  • Hole 15 yielded 125.0 m @ 4.6% Cg from 132.0 m – 257.0 m within a wider intersection of 300.0 m of graphite mineralization grading 2.2% Cg from 60.0 m to 360.0 m.
  • Hole 14 yielded 186.0 m @ 4.9% Cg from 146.0 m – 332.0 m within a wider intersection of 426.0 m of graphite mineralization grading 3.0% Cg from 118.0 m to 544.0 m.
  • Hole 13 yielded 177.0 m @ 5.3% Cg from 138.0 m – 315.0 m within a wider intersection of 219.9 m of graphite mineralization grading 4.5% Cg from 95.1 m to 315.0 m.
  • Hole 12 yielded 146.0 m @ 5.2% Cg from 95.0 m – 241.0 m within a wider intersection of 195.0 m of graphite mineralization grading 4.0% Cg from 90.0 m to 285.0 m.
  • Hole 11 yielded 84.9 m @ 5.2% Cg from 460.6 m to 545.5 m within a wider intersection of 203.0 m of graphite mineralization grading 3.0% Cg from 393.0 m to 596.0 m.
  • Hole 10 yielded 360.8 m @ 5.1% Cg from 49.0 m to 409.8 m.

Graphitic carbon analyses for drill holes 33 through 38 and M01 will be released once received. The following table provides locational data for all holes drilled to date on the Albany graphite deposit.

HOLE-ID LENGTH
(metres)
EASTING NORTHING ELEVATION AZIMUTH DIP PIPE ASSAYS
M01 Drilling 682955 5545700 130 332 -85 EAST Pending
38 Drilling 682809 5545495 130 43 -50 EAST Pending
37 390 682860 5545547 130 43 -50 EAST Pending
36 363 682792 5545692 130 45 -50 EAST Pending
35 522 682751 5545650 130 45 -50 EAST Pending
34 531 682715 5545700 130 270 -50 WEST Pending
33 540 682676 5545802 130 225 -50 WEST Pending
32 459 682600 5545570 130 295 -50 WEST COMPLETE
31 396 682516 5545845 130 180 -50 WEST COMPLETE
30 393 682438 5545800 130 135 -50 WEST COMPLETE
29 423 682392 5545723 130 110 -50 WEST COMPLETE
28 339 683016 5545768 130 200 -50 EAST COMPLETE
27 561 682710 5545570 130 295 -50 WEST COMPLETE
26 618 682395 5545565 130 45 -50 WEST COMPLETE
25 213 682984 5545799 130 225 -50 EAST COMPLETE
24 252 682917 5545637 130 45 -50 EAST COMPLETE
23 270 682845 5545745 130 45 -50 EAST COMPLETE
22 261 682866 5545706 130 45 -50 EAST COMPLETE
21 291 682890 5545673 130 45 -50 EAST COMPLETE
20 303 683016 5545768 130 225 -50 EAST COMPLETE
19 291 682952 5545830 130 225 -50 EAST COMPLETE
18 432 682809 5545809 130 120 -50 EAST COMPLETE
17 509 683200 5545700 130 270 -50 EAST COMPLETE
16 531 683095 5545894 130 225 -50 EAST COMPLETE
15 412 682860 5545610 130 45 -50 EAST COMPLETE
14 668 683090 5545590 130 315 -50 EAST COMPLETE
13 425 683100 5545700 130 270 -50 EAST COMPLETE
12 366 683025 5545825 130 225 -50 EAST COMPLETE
11 684 682955 5545935 130 180 -65 EAST COMPLETE
10 438 682955 5545800 130 180 -65 EAST COMPLETE
9 425 682955 5545850 130 180 -65 EAST COMPLETE
8 365 682955 5545800 130 0 -65 EAST COMPLETE
7 321 682600 5545570 131 0 -65 WEST COMPLETE
6 346 682400 5545570 131 0 -65 WEST COMPLETE
5 326 682955 5545700 130 0 -65 EAST COMPLETE
4 179 682955 5545700 130 180 -80 EAST COMPLETE
3 495 682500 5545770 131 180 -56 WEST COMPLETE
2 528 682500 5545370 131 0 -65 WEST COMPLETE
1 543 682500 5545570 131 0 -65 WEST COMPLETE
Nad 83, UTM Zone 16

Analytical Protocol

Samples of half core were packaged and shipped directly from Zenyatta’s core shack at the site to the ALS Minerals facility in Thunder Bay, Ontario, for sample preparation (ALS protocol PREP-31B). Each bagged core sample is dried, crushed to better than 70% passing 2mm and a 1000g split of the crushed material is pulverized to better than 85% passing 75 microns for assaying. The sample pulps were then shipped to the ALS Minerals laboratory in Vancouver, British Columbia for assay. ALS Minerals has ISO 9001:2008 and ISO 17025 Accreditation as per the Standards Council of Canada at all of its global laboratories. Graphite assays were obtained using the graphitic carbon by LECO method (ALS protocol C- IR18). A 0.1g sample is leached with dilute hydrochloric acid to remove inorganic carbon (carbonate). After filtering, washing and drying, the remaining sample residue is roasted at 425°C to remove any organic carbon. The roasted residue is finally analysed for graphitic carbon using a high temperature LECO furnace with infra-red detection. The samples were submitted with blanks and certified custom standards inserted into the sample stream to ensure lab integrity.

Mr. Peter Wood, P.Geo., Zenyatta Ventures Ltd., Vice President Exploration, is the “Qualified Person” under National Instrument 43-101 and has reviewed and approved the technical information contained in this news release. This news release may contain forward looking information and Zenyatta Ventures Ltd. cautions viewers that forward looking information is based on certain assumptions and risk factors exist that could cause actual results to differ materially from the expectations of Zenyatta Ventures Ltd. included in this news release. To find out more on Zenyatta Ventures Ltd., please visit website www.zenyatta.ca.

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. This News Release includes certain “forward- looking statements”, which often, but not always, can be identified by the use of words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan” . These statements are based on information currently available to Zenyatta and Zenyatta provides no assurance that actual results will meet management’s expectations. Forward- looking statements include estimates and statements with respect to Zenyatta’s future plans, objectives or goals, to the effect that Zenyatta or management expects a stated condition or result to occur, including this News Release. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of Zenyatta’s mineral properties, and Zenyatta’s financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with

Zenyatta’s activities; and other matters discussed in this News Release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Zenyatta’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Zenyatta’s forward-looking statements. Zenyatta does not undertake to update any forward-looking statement that may be made from time to time by Zenyatta or on its behalf, except in accordance with applicable securities laws.


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Comments

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