VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 15, 2013) - Valterra Resource Corporation (TSX VENTURE:VQA)(3VA.F) ("Valterra") reports that recent surface and trench sampling is confirming the high grade nature of the Bobcaygeon Graphite Property, located 130 kilometres due northeast of Toronto. Ground EM-MAG-IP geophysical surveys have been completed on 60% of the 11 line-kilometre grid and the preliminary IP chargeability within the Discovery Zone area has outlined an open-ended, near surface anomaly covering 480m x 350m, plus additional nearby features and other zones of potential interest have been detected. Additional ground has been staked, bringing the Valterra holdings to over 140 sq. km. The company is planning a near-term diamond drill program and a more extensive regional exploration program to further evaluate the large property package.
The discovery trench opened in December identified a 20m lateral exposure of high grade graphite with trenching bottoming in graphite suggesting a minimum thickness of this lens at 1.5m. The trenching yielded highlighted assay results from 7.76% C(g) to 36.8% C(g).
|Table 1: Highlighted Trench Sampling at Bobcaygeon(1)|
|Sample#||Discovery Trench Description||C(g) %|
|960540||Graphite (1.5m chip channel in face)||36.8|
|960541||Graphite (1.4m chip channel in face)||20.2|
|960061||Graphite-quartz seams (0.7m chip channel in face)||14.6|
|960542||Graphite seams in amphibolite (0.5m chip channel in face)||8.7|
|960513||Quartz vein with coarse graphite seams (grab)||7.76|
Exploration activities included the following:
- Discovery Zone Trenching - shallow trenching exposed visually coarse-looking graphitic beds and seams measuring up to 20m of strike-length x >1.5m thickness x 45°dip (SSE).
- Ground Geophysics - approximately 11 line-kilometres of grid has been surveyed by EM, MAG and IP geophysics by JVX Ltd. Preliminary findings are very encouraging including about 480m x 350m of open-ended, near surface conductive anomalies co-incident with the Discovery Zone.
- Sampling - over 80 grab, chip, and channel samples have been collected in trenches and outcrops and sent for Au-ICP63-Graphite analyses.
- Claims - Valterra has almost tripled the land package since acquiring the property in June of 2012 and now controls +140 sq. kilometres.
- Metallurgy - Phase III analyses by SGS Lakefield is progressing for a +20kg grab sample collected in May 2012. Test work includes a cleaner flotation circuit aimed at increasing the concentrate grade to +95% C(g) and optical mineralogy work is scheduled on sub-samples of the different concentrate size fractions to better assess individual graphite particles.
|Table 2: Highlighted Jumbo and Large Flake Metallurgical Determination (previously released)|
|Flake||Combined Concentrate||Assays %||% Distribution|
The metallurgical report together with updated information and pictures of the exploration conducted to date is available on Valterra's website at www.valterraresource.com.
Graphite is a naturally occurring form of carbon with wide-ranging and unique physical properties. Graphene comes from graphite and is one of the strongest known substances which when developed industrially, will be a replacement for several expensive electronic components such as silicon semi-conductors. There are three primary graphite occurrences naturally - vein, flake, and amorphous where the highest quality product can sell for over $2,000 per tonne. In pricing graphite, the flake size is a key factor with the large flake (> .178mm) ores commanding the highest prices in markets dominated by multi-national eco-automobile manufacturers, high-tech industries and nuclear energy companies. Recent pricing and demand increases have spurred 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.
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.
Brian McGrath, P.Geo., is the Qualified Person responsible for reviewing the technical information presented in this release.
On behalf of the Board of Directors,
Frederick Sveinson, President, Valterra Resource Corporation
(1) Activation Laboratories Ltd., Ancaster Ontario - 5DC-Graphitic Analysis: A 0.5 g sample is subjected to a multistage furnace treatment to remove all forms of carbon with the exception of graphitic carbon. Either a resistance or induction furnace are used for analysis. The inductive elements of the sample and accelerator couple with the high frequency field of the induction furnace. The pure oxygen environment and the heat generated by this coupling cause the sample to combust. During combustion, carbon-bearing elements are reduced, releasing the carbon, which immediately binds with the oxygen to form CO and CO2, the majority being CO2. Carbon is measured as carbon dioxide in the IR cell as gases flow through the IR cells. Carbon dioxide absorbs IR energy at a precise wavelength within the IR spectrum. Energy from the IR source is absorbed as the gas passes through the cell, preventing it from reaching the IR detector. All other IR energy is prevented from reaching the IR detector by a narrow bandpass filter. Because of the filter, the absorption of IR energy can be attributed only to carbon dioxide (CO2). The concentration of CO2 is detected as a reduction in the level of energy at the detector.
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.