BE Resources Options LaFlamme Graphite Property
January 22 2014 - 7:04PM
Marketwired
BE Resources Options LaFlamme Graphite Property
TORONTO, ONTARIO--(Marketwired - Jan 22, 2014) - BE Resources
Inc. (TSX-VENTURE:BER) ("BE" or the "Company") has, through its
100% wholly owned Canadian subsidiary, 8716650 Canada Limited,
optioned a 100% interest, in the LaFlamme graphite property,
subject to a 3% NSR. The property was optioned for $20,000 and
200,000 common shares.
Location
The LaFlamme property is located in the Abitibi area of Quebec
in Bernetz Township. The closest town (Lebel-sur-Quevilion) is
about 35 km to the east. Access to the property is via Hwy 397 that
travels from Amos to Lebel-sur-Quevilion.
Local and Regional Geology
The north part of the property is underlain by wacke and mudrock
of the Glandelet Formation and the south part by basalts, andesites
and amphibolites of the Desboues formation. About 500 meters south
of the property the volcanic rocks are in contact with gneissic
tonalitic rocks of the Bernetz Intrusion.
All rocks on the property are of Archean age. The contact
between the Glandelet sediments and the Desboues volcanics appears
to have been displaced by north to northeast trending faults.
Regional Mineralization
Two advanced gold projects are located in the vicinity of the
LaFlamme property.
The Sleeping Giant Mine is located about 30 km northwest of the
LaFlamme property and has historical production of in excess of 1
million ounces of gold.
The Osbell gold deposit is located about 30 km northeast of the
LaFlamme property and has 43-101 classified reserves of 8.1 million
tonnes at a grade of 4.6 grams/tonne.
Past Work and History of the Property
The only recorded work done on the property was by Hudson's Bay
Exploration and Development in the late 1950's and early 1960's
(GM11419A). It consisted of an airborne EM and Magnetic survey
followed by ground follow-up EM. Conductive zones were then
drilled.
The property was re-flown with an airborne Magnetic and
Electromagnetic survey in 2008 by Xstrata Zinc and Virginia Gold
(GSC Open File 5970). However, we believe no follow-up work was
performed in the area due to the onset of the changing economic
conditions.
Mineralization on the Property
The work by Hudson's Bay detected numerous conductive zones
crossing the property, at least two of which were tested by diamond
drilling. The following is a summary of significant mineralization
from the diamond drill logs:
Hole BR-3:
149.3-184.3 feet, Quartz feldspar porphyry with pyrite
mineralization and quartz veining (possible gold target). |
Hole BR-4:
148.8-175.8 feet, Graphitic schist, well mineralized with
graphite. |
Hole BR-5:
225.1-271.3 feet, Graphitic shear zone and banded graphitic
sediments. |
Hole BR-6:
123.7-164.1 feet, Banded graphite schist, massive in places. |
Hole BR-7:
138.1-150 feet, Banded schist, graphitic bands and seams. |
Hole BR-8:
121.7-223 feet, Massive graphitic zone, banded sections. |
Hole BR-9:
34-189.3 feet, Sediments with very narrow graphitic seams. |
Hole BR-10:
457.8-475.4 feet, Graphitic sediments, medium to strongly graphitic
in parts. |
Additionally, BE Resources continues to engage in discussions
with multiple third parties for mine development projects as well
as advanced stage exploration projects.
Mr. Claude P. Larouche, Ing. (OIQ, Quebec), has approved the
technical data presented in the news release. Mr. Larouche is an
independent consultant for BE Resources Inc. and acts as the
Qualified Person under National Instrument NI-43-101.
For additional information, please refer to the BE Resources
website at www.beresources.ca.
Cautionary Statements
Certain statements contained in this news release may
contain forward-looking information within the meaning of United
States and Canadian securities laws. Such forward-looking
information is identified by words such as "estimates", "intends",
"plans", "expects", "believes", "may" and "will" and include,
without limitation, statements regarding the undertaking of a
comprehensive review of the overall strategy, assets and operations
of the Company. Investors are cautioned not to put undue reliance
on forward-looking information
Neither the 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.
To view the images associated with this release, please visit
the following link:
http://media3.marketwire.com/docs/923619i.pdf
BE Resources Inc.Carmelo MarrelliChief Financial Officer(416)
361-0737www.beresources.ca
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