Valterra and Great Lakes Graphite Form Strategic Alliance on Bobcaygeon Graphite Project
22 Mai 2014 - 3:00PM
Marketwired
Valterra and Great Lakes Graphite Form Strategic Alliance on
Bobcaygeon Graphite Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 22, 2014) -
Valterra Resource Corporation ("Valterra")
(TSX-VENTURE:VQA)(FRANKFURT:3VA) and Great Lakes Graphite Inc.
("Great Lakes Graphite") (TSX-VENTURE:GLK) have entered into a
Strategic Alliance ("Alliance") with respect to provision of
services relating to development, production and marketing of
graphite product from Valterra's Bobcaygeon graphite property
("Bobcaygeon Project") in Ontario.
The Alliance has an initial term of three years during which
Great Lakes Graphite will provide consulting services to Valterra,
utilizing its specialized personnel, to assist in the development
of the Bobcaygeon Project inclusive of assistance in raising
development money for the Project. In exchange for these services
Valterra is providing Great Lakes Graphite with consulting fees and
preferential access to ownership participation in the property.
President Lawrence Page Q.C. said, "The relationship with
Great Lakes Graphite provides Valterra with access to experts with
unique and specialized knowledge of the graphite sector inclusive
of all disciplines from exploration through to production and
marketing. As Valterra develops a graphite resource at the Project,
it can define extraction, beneficiation and sales procedures within
the Alliance on a cost efficient basis."
Great Lakes Graphite CEO Paul Gorman said, "Bobcaygeon has all
of the characteristics of an outstanding flake graphite project:
grade, size potential and access to infrastructure and markets.
When Great Lakes met with Valterra to discuss our mutual interest
in the graphite space, we quickly realized there was an opportunity
to work together to move Bobcaygeon forward faster. By leveraging
the strengths of each company we can create value for both sets of
shareholders."
About the Bobcaygeon
Project
The Bobcaygeon Graphite Property is favorably situated in
Precambrian calcitic marble of the Grenville Province with four
past producing flake-graphite mines located to the northeast of the
property and within the same geological belt. At least six flake
graphite-bearing zones, ranging from +1 metre to +100 metres thick,
have been located on surface and numerous other targets are
indicated over a +24km strike-length; all of which require further
definition before the full potential of the project can be
determined.
High-grade graphite horizons (+5% Cg) occur on the property at
the Discovery and Salerno zones. Trenching at the Discovery zone
has uncovered a high-grade vein which returned graphite values of
36.8% Cg over 1.5m, 20.2% Cg over 1.4m, 14.6% Cg over 0.7m.
Sampling and mapping has identified a drill-ready target of over
600 metres that is supported by recent EM and IP/Res geophysics on
the property.
Historic drilling in the 1990's at the Salerno zone (for zinc)
identified graphite-bearing stratigraphy over a +2km strike length.
Mapping in the area has identified two different graphite horizons
and sampling has confirmed the high-grade potential of this newly
developed occurrence. Current planning would test through drilling
a +4km cumulative strike-length of the target area.
Further regional work including mapping, prospecting and
trenching is planned to delineate the full extent of the graphitic
stratigraphy throughout the property.
About Valterra Resource Corporation: 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 focused 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 "Swift Katie" and
"Bobcaygeon" which are located near roads, rail, power, and
resource communities in Canada.
About Great Lakes Graphite: Great Lakes Graphite Inc. is an
industrial minerals company with the mandate to bring graphite
projects to production through the acquisition and development of
high quality graphite flake properties. Graphite has moved to the
forefront of the Industrial Mineral World as a Critical Mineral
required for industrial use and as a major component in the
development of new technologies. With the advancement of battery
storage, mobile battery systems and alternative energy
infrastructure, it is estimated that 20 new graphite flake mines
will be required to keep up with demand by the year 2020.
As there are currently no graphite mines producing in North
America, Great Lakes Graphite has the ability to become one of the
first producers to supply a growing regional customer base that
requires high quality flake graphite, where pricing and demand
continue to rise.
The Company, through strategic acquisitions and capable
management intends to become a leader in the industrial minerals
marketplace. The Company's graphite properties are located in the
Buckingham and Lochaber Townships of southwestern Québec. The
Company has also entered into option and joint venture agreements
with Eloro Resources Inc. on the Summit-Gaber property located in
the La Grande Greenstone Belt in the James Bay region of Québec.
Further information regarding Great Lakes can be found on the
Company's website at: www.GreatLakesGraphite.com.
Great Lakes Graphite trades with symbol GLK on the TSX Venture
Exchange and currently has 42,504,819 shares outstanding
(62,038,982 fully diluted).
Robert Macdonald, MSc., P.Geo., is the Qualified Person
responsible for the preparation and review of Valterra's technical
information presented in this release.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
Great Lakes Graphite Inc.Paul A. GormanCEO416-768-6101
pgorman@GreatLakesGraphite.com www.GreatLakesGraphite.comValterra
Resource CorporationLawrence Page Q.C.President604-684-9384Investor
Cubed Inc.Neil SimonCEO416-258-3311,
888-258-3323info@investor3.cawww.investor3.ca
Valterra Resource (TSXV:VQA)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Valterra Resource (TSXV:VQA)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024