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Posts tagged ‘Canada Carbon Inc (CCB)’

North ROK euphoria fizzles

June 6th, 2013

Colorado Resources’ results fall short of phenomenal but the area play looks resilient

by Greg Klein

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Despite additional intercepts of wide mineralization, June 6 assays from Colorado Resources TSXV:CXO failed to meet soaring hopes set by North ROK’s very first hole. That northwestern British Columbia discovery excited anticipation of a project comparable to Imperial Metals’ TSX:III Red Chris project, 15 kilometres east. But while Colorado’s stock has since suffered, a still-strong market cap and recent activity by other companies suggest the area play may yet endure.

The June 6 announcement gave results for three holes, with NR13-003 showing:

  • 0.21% copper and 0.55 grams per tonne gold over 152.4 metres, starting at 1.2 metres in downhole depth
  • (including 0.31% copper and 1.04 g/t gold over 52 metres).

NR13-003 was drilled at a -80 degree dip towards the northeast from the same location as discovery hole NR13-001, which was sunk at a -45 degree dip in the same direction. NR13-004 was drilled 100 metres southeast of the discovery hole, showing:

  • 0.4% copper and 0.5 g/t gold over 205.2 metres, starting at 158.8 metres
  • (including 0.56% copper and 0.68 g/t gold over 131 metres).
Colorado Resources’ results fall short of phenom, but area play looks resilient

North ROK’s first assays suggested boundless horizons, but three more holes from the early-stage project stifled enthusiasm.

True widths weren’t available. Hole NR13-002, drilled 350 metres west of the discovery hole, found no significant results. The company stated it “may have not been drilled deep enough or at the correct azimuth to adequately test the IP chargeability anomaly that is now better understood with the new detailed geophysics.”

Ongoing induced polarization surveys have so far shown an area 1,200 by 1,200 metres open to the south of the chargeability anomaly where the holes were drilled. The survey also found an area 500 by 1,000 metres open to the north of another chargeability anomaly one kilometre north of the drill holes. “To date less than 5% of the area of these geophysical anomalies has been tested by drilling,” the company stated. “Given these highly encouraging results and better understanding of the system, Colorado is planning an expanded drill program to commence shortly.”

Evidently investors expected better. The discovery hole reported April 25 produced a market-shattering 0.51% copper and 0.67 g/t gold over 333 metres, starting at 2 metres. That included a 242-metre interval of 0.63% copper and 0.85 g/t gold.

All that from the very first hole. Fuelling the excitement was Red Chris, only 15 kilometres away, where Imperial Metals’ open pit is scheduled for production in mid-2014. The project boasts reserves of 301 million tonnes averaging 0.359% copper and 0.274 g/t gold.

Consequently North ROK rocketed Colorado stock from an April 24 close of $0.16 to a May 21 high of $1.74. But by June 6 the shares opened on $1.17, down from a June 5 high of $1.34, then continued to fall. The stock closed June 6 on $0.80, albeit an improvement over the day’s low of $0.66 and far above the pre-discovery $0.16.

Disappointment notwithstanding, the area play may yet have a busy summer in store. Other companies attracted by the region’s porphyry copper-gold potential include Entourage Metals TSXV:EMT, which on June 3 announced its 100% option on the 6,499-hectare Odin copper-gold property, 22 kilometres north of North ROK and 35 kilometres from Red Chris.

The same day Victory Ventures TSXV:VVN announced drilling had begun on its 448-hectare Copau property, 11 kilometres northeast of Red Chris, to test a prospective IP anomaly.

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Carbon chronicles

April 3rd, 2013

A roundup of recent news from the ever-competitive graphite space

by Greg Klein

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While graphite frontrunners like Flinders Resources TSXV:FDR, Northern Graphite TSXV:NGC and Focus Graphite TSXV:FMS work through the pre-development or even pre-production stage, other companies vie for runner-up status. Among news announced April 3, Standard Graphite TSXV:SGH released assays from the final two holes of its 2012 drill campaign. These near-surface results come from the Oat Zone, east of the company’s Mousseau East Deposit in southwestern Quebec, showing 5.69% graphitic carbon over 6.8 metres and 5.73% over 20.1 metres.

True widths weren’t available. The top-most intercept started at a depth of 22 metres down hole while the deepest stopped at 64.6 metres.

A roundup of recent news from the ever-competitive graphite space

Additional assays and metallurgical results are pending
for Rock Tech Lithium’s Lochaber graphite project.

These assays conclude Standard’s 2012 campaign, which verified part of Mousseau East’s historic drilling as well as extending mineralization east and west. (Click here for some previous assays.) The company plans fieldwork and additional drilling this year to better define and expand the mineralization.

The same day Energizer Resources TSX:EGZ reported an analysis that it says further supports the February preliminary economic assessment for its Molo graphite deposit in Madagascar. In a statement accompanying the announcement, Energizer president/COO Craig Scherba said, “If the graphite price falls off by 25% and there is a 20% opex cost over-run, the project still has very positive IRR and NPV values.”

Going back a week, on March 27 Big North Graphite TSXV:NRT announced grab and channel sample assays for its Grand Lac du Nord property in eastern Quebec. The results “confirmed a multiple graphite-bearing structure covering an area approximately four kilometres by two kilometres, with results of up to 5.31% graphite,” the company stated. Its name notwithstanding, Big North also has a southern presence. That’s in Sonora state Mexico, where the company has three projects that include a 50% share in Nuevo San Pedro and 100% of Caraples and La Fortuna, all small-scale past-producing amorphous graphite mines. Last January Big North commissioned an NI 43-101 technical report for Nuevo San Pedro, which the company’s preparing to re-open.

On March 26 Canada Strategic Metals TSXV:CJC announced flake size distribution for grab samples from three parts of its 25-square-kilometre La Loutre property in southern Quebec. The company plans 15 to 20 holes of near-surface Phase I drilling this spring. One day earlier, Graphite One Resources TSXV:GPH announced it commissioned a PEA for its Graphite Creek property, 65 kilometres north of Nome, Alaska. Along with an updated resource, the study is slated for Q1 2014 release.

On March 21 Canada Carbon TSXV:CCB announced more surface sample assays that “confirmed the presence of a high-quality lump/vein graphite deposit” on the former Miller open pit mine about 80 kilometres west of Montreal. The company plans a busy spring with geophysics, channel sampling and drilling.

Speaking of drilling, on March 18 Rock Tech Lithium TSXV:RCK reported more assays from its Lochaber project, also in southwestern Quebec. One hole “intersected 84.56 metres of graphitic carbon at various depths with grades ranging from 1.11% to 4.42% Cg,” while another found 117.99 metres “at various depths with grades ranging from 1.3% to 3.63%.” Still to come are assays for 12 more holes, re-submitted assays from Phase I drilling and test results for flake size distribution and purity.

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Graphite Digest — May 25, 2012

May 25th, 2012

May 25, 2012

Industrial Minerals reports 12% Drop in Graphite Prices

Natural graphite prices have fallen for the first time since March 2009, according to a May 23 Industrial Minerals article by Simon Moores. Large-flake graphite of +80 mesh grading 94% to 97% carbon fluctuated between $2,500 and $2,700 a tonne during 18 months of strong demand. Now prices have fallen as much as 12%, to between $2,200 to $2,700 per tonne. The smaller flake of -100 mesh, grading 94% to 97% C, fell by $100 to the $1,900-to-$2,300 range.

Slowing economies in China and Europe caused the decline, observers say. Moores reports that traders in the European market point to an industrial slowdown in the continent’s biggest consumer, Germany. Graphite demand is closely tied to the steel industry, which suffers from economic uncertainty, particularly in Eurozone countries, he writes.

Nevertheless a past-producing German graphite mine will reopen on June 21, according to a May 24 Industrial Minerals article by Jessica Roberts. Graphit Kropfmühl projects eventual production of 5,000 tonnes a year at its Kropfmühl Mine.

Watch excerpts from Simon Moores’ presentation at the Toronto Graphite-Express Conference.

Focus Metals now Focus Graphite

Effective May 25 Focus Metals Inc began trading as Focus Graphite Inc TSXV:FMS. The stock symbol remains the same. The new name was approved by shareholders on May 3 and formally announced May 24. The company describes its flagship Lac Knife Property in northeast Quebec as the world’s highest-grade technology graphite resource.

Lac Knife’s PEA is scheduled for release June 7. In cooperation with L’institut de recherche d’Hydro-Québec, Focus plans to open a production facility for battery-grade spherical graphite by the end of 2013, producing about 10,000 tonnes of 95% material for the first 12 months. The goal for 2015 is 15,000 tonnes. Focus also holds a 40% interest in Grafoid Inc, a JV created to find proprietary methods of manufacturing graphene using unprocessed graphite ore from Lac Knife.

Read more about the Hydro-Québec agreement and an interview with Focus President/CEO Gary Economo.

Read an interview about Focus’ Kwyjibo REE-Copper Project.

Read a feature story about Focus Metals.

Zenyatta reports North Ontario Graphite Assays of 6.6% C over 170m

Zenyatta Ventures Ltd TSXV:ZEN announced May 24 assays from its Albany Graphite Deposit in north Ontario. Results show

  • 6.6% carbon over 170 metres
    (including 6.5% over 88 metres)
    (and including 7.1% over 76 metres)

Individual samples assayed as high as 13.1%. Results are pending for another hole collared at the same location but drilled in the opposite direction. The collar is 450 metres from the project’s original discovery hole, which intersected eight separate and extensive breccia zones. Albany is 30 kilometres from the Trans-Canada Highway, a powerline and natural gas pipeline, 70 kilometres from rail and about five kilometres from an all-weather road.

Read a feature story about Zenyatta Ventures.

Energizer, Malagasy report Madagascar Graphite Results of 8.44% C over 106m, select Molo Deposit for Production, announce Appointments

Energizer Resources Inc TSX:EGZ and Malagasy Minerals Ltd announced May 24 assays from the Molo Graphite Deposit of their Joint Venture Property in south Madagascar. Results show

  • 8.44% carbon over 106 metres(including 11.17% over 37 metres)
  • 7.25% over 27 metres
  • 5.42% over 41 metres
  • 5.77% over 28.6 metres

Energizer holds a 75% interest and acts as project operator on the Joint Venture Property, which surrounds Energizer‘s wholly owned Green Giant Graphite-Vanadium Property on three sides.

Following airborne surveys, ground geophysics, mapping, trenching and 29 drill holes on a number of potential graphite deposits, Energizer chose the JV Property’s Molo Deposit for a graphite-resource estimate and to begin open-pit mine construction with production targeted for 2014 or 2015. The company’s evaluation includes metallurgical analysis, which confirms that jumbo-flake (+50 mesh) graphite at an average purity of 93% C can be liberated through simple crushing of graphite.

Energizer also announced the appointment of Albert A Thiess Jr as Director and Chair of Capital Projects and Mine Development Committee. Thiess brings over 35 years of accounting, finance and management experience to the company. Also appointed to the committee is Peter D. Liabotis, a chartered accountant with over 15 years experience.

Read an interview with Energizer Resources VP Business Development Brent Nykoliation.

Read feature stories about Energizer Resources’ vanadium deposit and its graphite deposits.

Uragold seeks Shareholder Approval for Reverse Stock Split

Uragold Bay Resources Inc TSXV:UBR announced May 24 that its directors propose to consolidate issued and outstanding common shares. Under the resolution, every four existing common shares would be consolidated into one new common share. The resolution will be submitted to shareholders at the June 19 AGM and is subject to TSXV approval. The resolution would allow, but not compel, the board to consolidate stock up to nine months after shareholder approval. The board’s decision will be based on market conditions. The company stated that consolidation would enhance the its liquidity, share marketability and shareholder profitability.

Uragold holds gold properties in south Quebec’s Appalachian belt and the Asbury Graphite Property in southwest Quebec. The properties have extensive historic exploration and well-established infrastructure. Uragold‘s business model focuses on developing a series of potential small-scale low-cost mining operations for potential cashflow while exploring other properties.

Graphite One drops Alaska Gold Project, begins Graphite Exploration

Graphite One Resources Inc TSXV:GPH announced May 24 it has relinquished its option on the Kelly Creek Gold Property in Alaska. The company will instead focus on its 3,108-hectare Graphite Creek Property, 65 kilometres north of Nome on Alaska’s Seward Peninsula.

The company has begun a helicopter-borne TDEM survey comprising both magnetics and electromagnetics of approximately 690 line-kilometres flown at 50-metre-spaced lines. The $4.5-million program will consist of prospecting, geological mapping, sampling and drilling along conductors delineated from the survey and previously defined graphite-bearing schist. The goal is to move the project towards a resource estimate. Graphite Creek is three kilometres from intertidal waters at Windy Cove, approximately 20 kilometres from roads and three kilometres from an airstrip.

Flinders reports Sweden Graphite Results including 11.8% C over 13.6m

Flinders Resources Ltd TSXV:FDR announced May 24 assays from its Kringel Deposit in east-central Sweden. Highlights include

  • 11.8% carbon over 13.6 metres
  • 7.6% over 18.3 metres
  • 7.9% over 15.8 metres
  • 8.9% over 14 metres
  • 8.2% over 14.3 metres
  • 7.6% over 15.3 metres
  • 9.5% over 11.3 metres
  • 7.6% over 12.6 metres

The Kringel Mine operated from 1996 to 2001, when production stopped due to falling graphite prices. The project has been on care and maintenance since. The Kringel Graphite Project has an historic, non-43-101 resource estimate of 6.9 million tonnes grading 8.8% in four separate deposits. The mine site has a non-43-101 estimate of 1.3 million tonnes grading 11.3%. Flinders intends to bring historic resource estimates into 43-101 compliance and test for extensions of the deposit below 50 metres and along strike. The resource estimates are scheduled for completion around the end of July.

Bolero appoints Paul Ogilvie CEO, grants Options, announces Intention to change Name

Bolero Resources Corp TSXV:BRU announced May 23 the appointment of Paul Ogilvie as CEO. R. Bruce Duncan has resigned as President/CEO and has been appointed Executive Chairman. Ogilvie has been granted one million options at $0.20 per share, which are subject to vesting over a six-month period and exercisable for five years. In 2007, he led a private investment group in the redevelopment of Industrial Minerals Inc, now known as Northern Graphite Corp TSXV:NGC. Starting in 2009, Ogilvie served as CEO/Director/Founder of MEGA Graphite Inc. The company also announced its intention to change its name to Canada Carbon Inc. (Update: On October 5, 2012, Bolero Resources Corp began trading as Canada Carbon Inc TSXV:CCB.)

Bolero‘s Maria Graphite Claims cover approximately 2,000 hectares in east Ontario, 17 kilometres from the Trans-Canada Highway and completely surrounding Northern Graphite‘s Bissett Creek Deposit. The company plans to begin work shortly.

Lomiko announces Drill Program, Resource Estimate Target Date

Lomiko Metals Inc TSXV:LMR announced May 22 a drill program of up to 70 holes on its Quatre Milles Graphite Property in south Quebec. Drilling will focus on verifying the areas of historic, non-43-101 high-grade results reported by Graphicor Resources. Lomiko plans to complete Phase I and II, followed by a flake-graphite resource estimate, by December.

The company’s 1,600-hectare Quatre Milles Property and 2,180-hectare Quatre Milles West Property are approximately one hour’s drive from the mining centre of Val-d’Or and 26 kilometres by paved road from the Trans-Canada Highway. Lomiko also has a zinc discovery on its 5,407-hectare Vines Lake Property in the Cassiar Gold Camp in the Liard Mining District of northwest BC. Further exploration is planned for this summer. The property has year-round paved road access via Highway 37N.

Read a feature story about Lomiko Metals.

Berkwood options Quebec Graphite Property

Berkwood Resources Ltd TSXV:BKR announced May 22 an option to earn a 100% interest in the Lac Gueret East Graphite Property in north-central Quebec. Under the agreement, Berkwood pays three prospectors a total of $25,000 on signing, $35,000 and 750,000 units (consisting of one share and one warrant exercisable for 24 months at $0.15) within seven days of TSXV approval, $75,000 and 500,000 shares six months after TSXV approval, $75,000 and 375,000 shares 12 months after TSXV approval and $75,000 and 375,000 shares 18 months after TSXV approval. The vendors share a 2% NSR, half of which Berkwood may buy for $1,000,000.

The 3,186-hectare property borders the eastern boundary of Mason Graphite’s Lac Gueret Property, about three hours by road from the deep-sea port of Baie-Comeau. Graphite in the area is present in marbles and in contact with or within paragneisses and ranges from 3% to 40% carbon, with flakes up to 5 mm in diameter, Berkwood stated. The company’s program includes compilation of historic work, an airborne electromagnetic survey, surface follow-up, stripping, trenching and drilling.

Disclaimer: Focus Graphite Inc and Lomiko Metals Inc are clients of OnPage Media, and the principals of OnPage Media may hold shares in those companies.

By Greg Klein

Read previous Graphite Digests here