VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 6, 2013) - Valterra Resource Corporation ("Valterra" or the "Company") (TSX VENTURE:VQA)(3VA.F) reports that preliminary ground geophysical results on the >150 sq. km Bobcaygeon Graphite Property, located 130 kilometres due northeast of Toronto, have returned excellent IP, EM and Magnetic responses with the highlight being an open-ended, near surface chargeability anomaly measuring 800m x 400m at the Discovery Zone area. Numerous additional anomalies worthy of follow-up have also been detected from the 11 line kilometre survey completed in January by JVX Ltd.
The company is planning for a multi-faceted exploration program in 2013 which should include a near-term diamond drill program for which Valterra has commenced sourcing drill contractors and suppliers. Additionally, a more extensive geophysical survey is warranted to cover the "open-ended" and parallel trends detected in the recent program, and the Company expects to conduct a regional exploration program to further assess the large property package.
President Fred Sveinson, P.Eng., stated: "The Company is excited with the rapid expansion of the project just six months after acquisition. The new geophysical signatures detected at the Discovery Zone area are very encouraging, and the results of the recent trenching and metallurgical testing has demonstrated the high grade nature and large flake potential of the property. Also, it's important to stress that the work programs conducted thus far only represents a fraction of the large tenure holding which has grown to over 150 sq. kilometres of prospective ground in the Grenville Province.
The geophysical map together with updated corporate presentations, 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
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.