VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 19, 2013) - Valterra Resource Corporation (TSX VENTURE:VQA)(3VA.F) reports significant graphite intercepts from a recent "scout-style" diamond drill program consisting of five BQTW-sized holes totaling 145.75m at the Bobcaygeon Graphite Project. The initial sampling was collected from portions of two holes that were cored around the Discovery Zone trench which recently returned excellent metallurgical, analytical and geophysical results.
The preliminary metallurgical results from continued testing on the +20kg Discovery Zone trench sample has produced medium, coarse and jumbo flake graphite fractions assaying >94% C(t) by LOI and a high-purity fine flake graphite fraction, that with additional leaching, returned 99.14% C by double LOI in concentrate (NR-05-13).
Near surface graphitic drill highlights include:
|HOLE||FROM (m)||TO (m)||INTERVAL(m)||Cg(%)|
|Graphite assayed at Activation Laboratories Ltd. of Ancaster ON|
Preliminary interpretation of the drill results suggests that 1) the target horizon may be near flat-lying or gently undulating; or, 2) that more than one target horizon exists in the Discovery Zone trench area. With this knowledge and the additional geological information gained from the scout drilling, a more extensive exploration program is being planned. Drilling, additional geophysics and prospecting will be carried out to systematically test the large geophysical target area. In addition, prospecting and further geophysical surveys are planned for select areas of the extensive property package.
Valterra utilized a portable 'Prospector 89' drill rig which tested to a maximum 45 metre depth. The objectives of this drill program, included:
- Better defining the geology, structural controls and geometry in this overburden dominated area;
- Outlining the near surface rock units associated with a variety of EM/MAG/IP geophysics anomalies to aid future targeting and geophysical surveys; and
- Determining the effectiveness of a smaller drill rig to reduce costs, minimize environmental footprint, improve permitting, and test near-surface zones, which are frequently easier and less expensive to mine.
About Valterra Resource Corporation
Valterra is focussed on graphite, gold, copper and silver properties in Canada 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 "Bobcaygeon", "Star-Toughnut" and "Swift Katie". The Bobcaygeon property covers an area of over 160 sq. km in Southern Ontario, and is hosted in rocks of the Grenville geological province where most of the known significant graphite deposits occur. The "Star-Toughnut" and "Swift Katie" projects are Au-Cu-Ag properties with bulk tonnage potential in south-eastern BC.
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.
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 and lightest known substances with a tensile strength 200 times the strength of steel. It is an excellent conductor of heat and electricity and has outstanding lubrication properties and is very resistant to chemical corrosion. The industrial development of graphene is at an early stage but will eventually become a replacement for several expensive 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. In pricing graphite, the flake size and purity are key factors with the large flake at +0.178mm and purity at +99% C(g) 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 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.
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
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.