Valterra Confirms Large-Scale Graphite Targets on Bobcaygeon Project
December 05 2013 - 7:00AM
Marketwired Canada
Valterra Resource Corporation ("Valterra" or "the Company") (TSX
VENTURE:VQA)(FRANKFURT:3VA) reported today channel sample results of up to 1.7
metres grading 5.7% Cg from recent regional prospecting and mapping on the 190
square kilometre Bobcaygeon Project, southern Ontario. Sampling continues to
return high-grade graphite on the property including in a target area, partially
defined by historic drill records and mapping, of up to 2000 metres x 1000
metres at the newly identified Salerno zone.
The channel sampling follows-up earlier chip sampling in the Salerno and Crystal
zones located 24 kilometres and 10 kilometres respectively northeast of the
Discovery Trench (as reported in NR-11-13, June 5, 2013). Additional sampling
was also completed in the 4South and Corridor zones. Twenty-two channel samples
ranging from 0.5 metres to 5.1 metres in length were collected from outcrop.
Host-rock lithology was identified and compared to previously sampled and mapped
exposures. Twelve of the 22 samples returned values greater than 1% Cg.
The Company also reported that recent road construction on the property has
uncovered new exposure of graphite-bearing stratigraphy approximately 700 metres
along strike from the Discovery Trench where previous sampling returned grab
samples of up to 69.1% Cg and high-grade near surface drill results (6.36% Cg
over 3.38m; including 31.90% Cg over 0.53m in hole BOB13-004, see NR-08-13). A
small trench was completed over the site and samples collected. Assays are
pending.
Table 1: Select Highlights of Surface Channel Samples
----------------------------------------------------------------------------
Township Zone Sample# Type Width Description Cg%
----------------------------------------------------------------------------
Cavendish Salerno 960709 Channel 1.7m Graphite Rich Calcitic 5.71
Marble
960710 Channel 0.5m Calcitic Marble 2.24
960711 Channel 0.4m Calcitic Marble 3.77
----------------------------------------------------------------------------
Galway 4South 960701 Channel 1.15m Sulphide/Graphite Bearing 2.42
Amphibolite Gneiss
960702 Channel 1.0m Sulphide Rich Amphibolite 2.06
Gneiss
960703 Channel 1.2m Graphitic Amphibolite Gneiss 2.36
----------------------------------------------------------------------------
Galway Corridor 960706 Channel 0.6m Sulphide Amphibolite Gneiss 1.44
960708 Channel 1.5m Graphite Rich Calcitic 1.25
Marble
----------------------------------------------------------------------------
Galway Crystal 960713 Channel 2m Graphitic Amphibolite Gneiss 1.35
960715 Channel 2m Gneiss + Marble 1.82
960716 Channel 5.1m Amphibolite Gneiss + 1.1
Arenaceous Sediments
960719 Channel 3m Rusty Amphibolite Gneiss 1.09
(hematite)
----------------------------------------------------------------------------
To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/915966i.pdf
Salerno Zone
The Salerno Zone is located 24 kilometres northeast of the Discovery Trench and
is hosted in rusty marble. Sampling along a road exposure returned channel
samples ranging from 0.4 metres grading 3.77% Cg to 1.7 metres grading 5.71% Cg.
Previously reported chip samples from the area returned higher grade values of
1.2 metres grading 7.17% Cg and 0.1 metres grading 28.1% Cg (see NR-11-13 - June
5, 2013).
The sampling is located adjacent to five historic core holes which together with
historic mapping outline a target area of over 2000 metres x 1000 metres. The
holes which originally targeted base-metal mineralization to shallow depths of
less than 30 metres, reported accessory graphite (up to 4% in visual estimates)
with some semi-massive and massive seams. Note that this information was sourced
from historic government records and has not been independently verified by the
Company and therefore should not be relied upon as such.
Both the strike-length and thickness of the graphite-bearing stratigraphy make
this a high priority target with the potential to develop both bulk tonnage and
high-grade mineralization. Further work is required to fully delineate this
target area.
Crystal Zone
The Crystal Zone is located approximately 10.5km north-east of the Discovery
Trench. Sampling was conducted over an 800 metre strike length on the northern
shores of Loom Lake and returned four of ten channel samples with values greater
than 1% Cg including: 5.1 metres grading 1.1% Cg and 2 metres grading 1.82% Cg.
All the remaining samples contained anomalous graphite mineralization.
Preliminary mapping in the area by Valterra has shown that the graphitic horizon
is associated with a biotite/amphibolite gneiss and occurs in a unit ranging
from 65 metres to 250 metres wide.
Further work is required in this area to delineate high-grade lenses within the
broader graphitic horizon.
The Salerno and Crystal zones are associated with the Salerno Creek Deformation
Zone (SCDZ) that forms a major tectonic boundary between the Bancroft Terrane
and Harvey-Cardiff Arch. The terrane contact hosts the majority of
past-producing graphite mines and significant graphite occurrences in the belt;
mostly within major regional- scaled fault complexes.
4South Zone
Sampling within the 4south zone, located approximately 450m northwest of the
discovery trench, has identified greater than 1% Cg over a 25 metre strike
including channel samples of 1.2 metres grading 2.36% Cg and 1.15 metres grading
2.42% Cg from the current program. The graphite is hosted in amphibolite gneiss
and occurs on the edge of an EM (Electromagnetic) anomaly within the Discovery
zone geophysical grid.
More work remains to fully outline this zone including further delineation of
the higher grade graphite relative to the EM anomaly.
Corridor Zone (Bass Lake North)
Recent sampling and mapping in the Corridor zone, located 1 kilometre to the
north of the Discovery trench confirms two trends of graphitic stratigraphy
which may represent parallel target horizons extending the full 1.75 kilometre
trend of the currently delineated zone. Four recent channel returned assays of
up to 0.6m of 2.01% Cg.
Project Milestones
Since the identification of high-grade graphite on the property in late 2012,
Valterra has continued to advance the project through the early exploration
stage and metallurgical evaluation. Completed work includes reconnaissance
mapping and prospecting resulting in the identification of four new discoveries
including the 1.75km-long Corridor zone, located 1 km to the north of the
original graphite discovery and the Crystal and Salerno Occurrences referred to
in the preceding text.
Surface IP geophysics covering the initial graphite discovery has identified an
800 metre x 400 metre chargeability anomaly which remains a priority drill
target. Several shallow drill holes which were completed in the area of the
discovery trench suggest that the target graphite horizon may be flat-lying or
gently undulating; or that multiple target horizons exist in this area. Valterra
is planning to conduct additional drilling, geophysics and prospecting in the
area near the Discovery Zone and regionally within the district-scaled property.
Metallurgical Testing Summary
Several stages of Metallurgical testing were conducted on a +20kg sample from
the Discovery Zone area in order to help evaluate the marketability of potential
graphite products from the Bobcaygeon property and resulted in the
identification of an ultra-high-purity, fine-flake graphite concentrate grading
99.97% C and medium to jumbo flake concentrates grading +94% Cg. The fine-flake
flotation concentrate was subjected to a two-stage leach process followed by LOI
analyses on the leach residue (see summary in NR-13-13, October 1, 2013).
These Preliminary flotation and leaching test results demonstrate the potential
to produce marketable, very high-margin natural graphite products utilizing
industry-standard processing techniques from the entire concentrate, including
the ultra-high-purity fine-flake fraction. Only flake graphite with purity of
99.9% is suitable for Li- ion battery manufacturing which is currently dominated
by high-cost synthetic graphite. Current synthetic prices range from
US$7,000-20,000 per tonne and Valterra is targeting this market with natural
graphite products that may provide a distinct cost advantage.
Future Exploration at Bobcaygeon
Year-one successes from prospecting, trenching, metallurgy, geophysics and
diamond drilling have defined numerous targets property-wide that merit
exploration in 2013/14. Valterra has budgeted C$500,000 to $750,000 and is
planning to conduct additional exploration in the Discovery Zone area and
regionally within the district- scaled property. Preliminary plans are
highlighted by diamond drilling of between 2,000 to 2,500m.
Recent metallurgical reports, ground-geophysical data, updated corporate
presentations and photographs are available on Valterra's website at
www.valterraresource.com.
About Graphite
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 and is poised to become a major industrial material in the development of
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 with the large
flake (greater than.178mm) products commanding the highest prices in markets.
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.
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 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.
Robert Macdonald, MSc., P.Geo., is the Qualified Person responsible for the
preparation of the technical information presented in this release.
On behalf of the Board of Directors,
Lawrence Page, QC, Chairman, Valterra Resource Corporation
For further information, please visit Valterra's website at
www.valterraresource.com.
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 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Valterra Resource Corporation
Lawrence Page
QC, Chairman
1.888.456.1112
info@mnxltd.com
www.valterraresource.com
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