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Posts tagged ‘Alabama Graphite Corp (ALP)’

Albany’s area play continues

August 16th, 2013

More companies move in on Zenyatta’s Ontario graphite project

by Greg Klein

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In just over five weeks at least a dozen companies have picked up properties around Zenyatta Ventures’ TSXV:ZEN Albany graphite project in north-central Ontario. A steady source of encouraging news since its January 2012 discovery, Albany was bound to attract admirers—but why so late and suddenly so many? Little is being said, other than the properties became available and the timing couldn’t be better.

“It’s been great for the markets,” says Michael England, CEO/director of Cariboo King Resources TSXV:CKR. “All the juniors that have gone in have seen an increase in volume and even some financings. It’s been fantastic. It’s kind of what the doctor ordered for our markets. All of us were so dead but with the [Alpha Minerals TSXV:AMW/Fission Uranium TSXV:FCU] uranium play in the Athabasca Basin and this one—wow! What a change it’s made.”

More companies move in on Zenyatta’s Ontario graphite project

Among the earlier entrants reported by ResourceClips.com on July 17 were Brookemont Capital TSXV:BKT with its 416-hectare Albany East property, Cavan Ventures’ TSXV:CVN 768-hectare Cage claims, TAD Mineral Exploration’s TSXV:TJ 257-hectare Constance Lake property and Bluenose Gold’s TSXV:BN.H Zenyatta West project.

Other acquisitions include Weststar Resources’ TSXV:WER 304-hectare Albany South East property announced July 16, TAD’s second foray with the 386-hectare Constance Lake West property announced July 25 and Ashburton Ventures’ TSXV:ABR 16-claim, 256-hectare Page property announced the following day.

Cariboo King heralded its 256-hectare Nezen property July 29. The next day Alchemist Mining TSXV:AMS did the same for its 256-hectare Mondatta property and the day after that MPH Ventures TSXV:MPS got in on the act with its same-sized North Albany. On August 13 GTA Resources and Mining TSXV:GTA said it increased its Auden project to over 26,000 hectares, making it the area’s largest landholder.

Then the play moved farther afield with two August 15 announcements, Cariboo King’s 1,536-hectare Pito property 20 kilometres west of Albany’s drill holes and, about 25 kilometres east of Zenyatta, the 256-hectare Hearst project for Benton Resources TSXV:BEX—which passed it on to Alabama Graphite CNSX:ALP the very next day. Alabama IR officer Danny Gravelle tells ResourceClips.com, “The property became prospective to Benton not only because of the location but an historic report by Noranda which gave some really strong indicators that there’s potential for graphite.”

But what prompted so many companies to pour into the Albany area at this time? Gravelle responds that Zenyatta’s story obviously has investors compelled. After trading for less than $2 in May the stock hit a 52-week high of $5 on July 26. “For a stock to perform as it has in the worst market I’ve seen in my lifetime shows a significant amount of strength. I think investors are convinced that Zenyatta has great potential because they’ve shown they like this story even in the worst of markets. That’s what really generated the interest.”

Cariboo King, with projects close to a number of former graphite mines in Quebec and also to Timcal Graphite & Carbon’s operating Lac-des-Iles mine, evidently lets others lead the way. “I do play closeology a lot with my companies,” England tells ResourceClips.com. He saw the policy pay off when New Gold TSX:NGD took out Geo Minerals in December 2011. “That was something that we never even drilled but it was close to their Blackwater deposit.”

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Down to earth flakes

January 10th, 2013

Graphite news from Standard in Quebec, Anglo Swiss in B.C. and Alabama in, well, Alabama

by Greg Klein

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Graphite news from Standard in Quebec, Anglo Swiss in B.C. and Alabama

New and emerging technologies call for graphite, as do
traditional applications such as steel manufacture and pencil “lead.”

With something like 13 properties in its portfolio, Standard Graphite TSXV:SGH might have been excused for a lack of focus. But last April’s acquisition of the Mousseau East Deposit gave the company a clear goal—to confirm an historic, non-43-101 resource of 800,000 tonnes grading 8% carbon and try to expand the mineralization. To that end, Standard released its Phase II expansion assays on January 10.

The widely-spaced holes follow a conductor for about 500 metres southwest of the historic zone. Highlights include:

  • 6.96% graphitic carbon over 10.6 metres
  • 5.77% over 8 metres
  • 5.67% over 6.9 metres
  • 2.01% over 16.1 metres
  • 2.4% over 11.7 metres
  • 2.41% over 10 metres
  • 4.3% over 5.4 metres
  • 4.49% over 3.3 metres
  • 1.65% over 5.1 metres
  • 1.48% over 4.4 metres
  • 1.94% over 3.1 metres
  • 1.55% over 3.3 metres.

True widths weren’t available. The top-most intercept began at 18 metres from surface, with the deepest stopping at a down-hole depth of 127 metres.

This expansion drilling follows up on Phase I work intended to confirm the historic assays. Twelve holes were duplicated, representing about 20% of the originals. Results were released November 21, with highlights including:

  • 7.5% Cg over 52.9 metres
  • (including 12.9% over 22.9 metres)
  • (including 4.65% over 20.6 metres)
  • 10.6% over 24.6 metres
  • 8.3% over 29.9 metres
  • 9.72% over 18.9 metres
  • 11.62% over 15.3 metres
  • 11.16% over 15.5 metres.

True widths weren’t available. Intercepts stared at two metres’ down-hole depth, with the deepest stopping at 105 metres.

The best interval, 7.5% over 52.9 metres, was found between the main zone and a southwest extension, thereby confirming continuity, the company said. In a statement accompanying the January 10 assays, Standard president/CEO Chris Bogart commented, “Expansion drilling confirmed that there is still room for additional resources on Mousseau East. These results are also evidence that every conductor on the property will need to be systematically explored to fully characterize the potential of the project.”

Planning is now underway for the next phase of drilling. A resource estimate could be released as early as Q1 this year.

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