Strike Graphite Corp TSXV:SRK and Zimtu Capital Corp TSXV: ZC announced Strike’s option to acquire a 100% interest in the Wagon Graphite Property in southwest Quebec. Under the agreement Strike will pay Zimtu and three prospecting partners $15,000 on signing, $15,000 and 500,000 common shares on TSXV acceptance of the agreement, $20,000 and 500,000 common shares six months following TSXV acceptance and 500,000 common shares 12 months following TSXV acceptance. Strike will spend $100,000 on exploration within 12 months of TSXV acceptance. The vendors will retain a 2% NSR.
The Wagon Property consists of three claim blocks totaling approximately 3,000 hectares located 15 kilometres east of Timcal Graphite & Carbon’s Lac-des-Iles Mine. The largest of Canada’s two graphite producers, Lac-des-Iles has been in production for over 20 years and produces graphite products of various sizes and purities. Historic Wagon Property outcrop samples have returned non-43-101 assays of 0.57% to 18.13% graphitic carbon.
Strike Graphite Corp
Zimtu Capital Corp
by Greg Klein