Valterra Identifies New High-Grade Samples at the Bobcaygeon Graphite Project
June 18 2014 - 8:30AM
Marketwired Canada
Valterra Resource Corporation (TSX VENTURE:VQA)(FRANKFURT:3VA) (the "Company" or
"Valterra") reported today that new sampling from the Bobcaygeon graphite
property located in southern Ontario, continues to expand and develop targeting
at two prospects on the project.
Sampling and mapping at the Salerno Zone returned values of up to 24.5% Cg over
1.0 metres in graphite-rich horizons within gneissic marbles near the contact
with gneissic clastic metasedimentary rocks. The new assay results confirm both
earlier sampling in the area and extend mineralization to the north and
northeast. The graphite-rich horizon lies along the north contact of the Salerno
Creek Deformation Zone, and is believed to extend some 1800 meters to the west
and is up to 60 to 120 meters wide. Further sampling on the Salerno Creek Zone
suggests that there is potential for several other parallel zones located to the
north of the current sampling; assays from these samples are pending.
Table: Select Assays from Surface Sampling on the Bobcaygeon Project
----------------------------------------------------------------------------
Sample # Type Width Description Cg (%)
----------------------------------------------------------------------------
Salerno Zone
-----------------
960735 Chip 1.0m Graphite Lenses and Breccia in 24.5
Calcitic Marble
960737 Chip 0.4m Graphite lenses in calcitic marble 14.7
960741 Chip 0.5m Graphitic seams in gneiss, North 9.4
contact SCDZ
960740 Chip 1.5m Graphitic quartz monzonite (marble- 3.5
gneiss contact)
Crystal Zone
-----------------
960742 Chip 7.0m Layered marble 2.9
960743 Chip 4.5m Gneissose Marble 2.5
----------------------------------------------------------------------------
The Salerno Creek Zone is one of two areas identified by the company that have
been targeted for drill testing in 2014, pending financing, as part of the
continued exploration of the Bobcaygeon project.
Mapping at the Crystal zone has identified visible graphite throughout a +120
meter wide corridor within a gneissic clastic metasediment and a gneissic
marble; where the contacts are bounded by major fault zones. Surface chip
sampling has identified wide intervals of +1% Cg throughout the zone including
2.9% Cg over 7.0 metres and 2.5% Cg over 4.0 metres, with additional anomalous
graphite values identified in sampling approximately 250 metres to the south and
several hundred metres to the northeast of the current sampling. Visually the
zone appears to continue on all sides. Trenching and further surface
reconnaissance is warranted to upgrade this zone for drill targeting. The
Crystal Zone is located between the Discovery Zone to the southwest and the
Salerno Zone to the northeast and provides geological continuity along the +24
kilometre strike-length of the graphitic stratigraphy located on the Bobcaygeon
property.
To view the Figure: Known Graphite Occurrences on the Bobcaygeon Graphite
Property, please visit the following link:
http://media3.marketwire.com/docs/ValFig1.pdf.
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 +24 kilometre 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, and
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. Scout drilling at the Discovery zone trench has identified high-grade
graphite averaging 6.4% Cg over 3.4 metres about 12 metres down dip from the
surface sampling.
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 multiple graphite horizons and sampling has confirmed the high-grade
potential of this newly developed occurrence. Current planning would test
through drilling a +4 kilometre 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 focused on early stage mineral properties with the potential to host
large deposits, in regions with excellent infrastructure. Over the last several
years, Valterra has acquired and developed several key projects including the
Swift Katie porphyry copper gold mineral property in which it holds a 100%
interest subject to an option agreement with the Riverside Alliance which has
the right to earn an 80% interest through the expenditure of $4 million over
four years with 2014 expenditures estimated at $600,000.
The Company is currently earning a 100% interest in the Bobcaygeon graphite
property situated within the Grenville Graphite Trend of southeast Ontario which
it intends to develop as its primary property as part of its focus on the
graphite sector. Through its recently announced production and marketing
strategic alliance with Great Lakes Graphite Inc., Valterra looks to access the
increasing demand for high-grade graphite product throughout North America.
Alliance partner, Great Lakes Graphite Inc. continues its development of
promising graphite properties in Quebec on the eastern portion of the prolific
Grenville Graphite Trend.
Robert Macdonald, MSc., P.Geo., is the Qualified Person responsible for
reviewing the technical information presented in this release.
On behalf of the Board of Directors,
Lawrence Page Q.C., President, 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
1.888.456.1112
info@mnxltd.com
www.valterraresource.com
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