Berkwood to do follow up drilling on large true thickness, high grade Graphite Zone 1, Lac Gueret South Graphite Project
(TheNewswire)
VANCOUVER, B.C. / TheNewswire / November 30th, 2017 - Berkwood Resources Ltd. (TSX-V: BKR, FSE: BK2, WKN: A110N3) ("Berkwood" or the "Company") is pleased to announce it has moved the drill from its Zone 2 anomaly back to Berkwood's Zone 1 Graphite Body where the Company has successfully demonstrated average Graphite grades in the range of 14.39 to 25.52% Cgr and true thicknesses ranging 22.1 to 40.3 m. The drill program on Zone 2 was stopped as no significant graphite was intersected and in order to focus the Company's efforts on the Zone 1 deposit at this time.
Zone 1 Graphite Body on the Company's 100% owned Lac Gueret South Project had 13 HQ holes drilled in the Phase 1 program with every hole intersecting significant graphite intersections. Mineralised sections of the core were sent for assay and, as per the news release dated Nov 28th, 2017, returned contiguous intervals of high grade graphite. The Zone 1 Graphite Body is a very large conductive and magnetic system with a 2.2 km east-west strike length and 0.6 km width. It shows two parallel zones that may be a large-scale fold. The Phase 1 drill program on Berkwood's Zone 1 Graphite Body focused on only a small western portion of the geophysical anomaly. The Company was waiting for the Phase One drill program assay results to determine if a Phase 2 drill program would commence on the Zone 1 Graphite Body. Significant exploration risk has been mitigated with the assays on the Phase 1 drill program. That, and the fact that most of the anomaly has not been drill tested, increases Zone 1 as a priority area. The Phase 2 drill program is commencing on Zone 1 and will continue to test this Graphite discovery. This drill program is fully permitted with the access roads and drill pads already built. The entire drill program is fully financed. The Company estimates to complete up to 2000 metres of drilling for the Phase 2 drill program.
Tom Yingling, President and CEO states, "I am very pleased with the assay results we received from Berkwood's Zone 1 Graphite Body. Prior to receiving the Zone 1 Graphite Body assay results, numerous elements of risk still pertained to our graphite discovery. There are always risks in exploration. Now that we have successfully proven that we have large intercepts with good graphite grades, we have mitigated some of them, and the Company looks forward to having the drill successfully delineate the size of this Graphite body to determine tonnage and geometry. I am thrilled with our shareholder and financing support, and with our capital structure - we still only have approximately 32.5 million shares outstanding."
Mr. Edward Lyons PGeo (BC, QC, NL), who has worked extensively on the Lac Gueret Property, now owned by Mason Graphite, states "The analyses show that the thick unit on Section 3100E as well as shorter intervals showed a similar range of grades that occurs at Mason Graphite's Lac Gueret deposit nearby."
Lac Gueret South Zone 1
Lac Gueret South is located in Cote Nord, Quebec, a three hour drive from Baie-Comeau in an area of very good infrastructure. The Project lies directly south of Mason Graphite's (TSX-LLG) advanced Lac Gueret Project. Mason is developing one of the largest medium to high grade graphite deposits in the world.
To view a virtual reality video of the autumn Zone 1 drill program, visit our home page at: http://www.berkwoodresources.com
About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools. The Company is led by a team with collectively over 100 years experience and whose members have been involved with the discovery of several producing mines.
On Behalf of the Board of Directors
'Thomas Yingling'
President, CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations:
info@berkwoodresources.com or 1-778-945-2935 www.berkwoodresources.com
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 news release.
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.
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