Recap Drill hole #3 (Z12-4F3), was collared 200 metres (‘m’) north of the original discovery drill hole (Z11-4F1) and drilled in a southerly direction.
Significantly, upon passing through the overburden/limestone, the hole immediately intersected graphitic breccia which shows the deposit coming to near surface.
An upper zone of graphitic breccia was intersected from 56.7 m to 104.5m yielding 3.3% C over 47.8m.
Another, wider and richer, zone of graphitic breccia was intersected from 133.0m to 265.0m and yielded an average of 3.8% C over 132.0m, with sections grading as high as 11.4% C.
This represents the largest intersection of graphitic breccia mineralization drilled to date in the deposit.
A number of graphite-rich veinlets and clasts from these sections were identified and isolated for further analyses. These results are expected over the next several business days.
Aubrey Eveleigh, President and CEO stated “The Company is very excited with these latest drill-hole results. They confirm that the Albany graphite deposit has exceptional size potential."
"The Company expects to release further news next week on more drilling presently being completed 450m east of the above reported drill holes.”
The Albany Graphite Deposit is a hydrothermal (magmatic) breccia, possibly related to the emplacement of a carbonatite intrusion. A similar deposit would be the vein graphite deposits of Sri Lanka (Ceylon Graphite Deposits). The vein graphite has been interpreted as being derived by CO2 and CH4 rich hydrothermal fluids. This CO2 rich fluid could promote hydraulic fracturing (brecciation) and precipitation of vein graphite. Graphite veins are unique and quite rare, and only a few of them are described in the geologic literature. The Bogala Mine, a Sri Lankan graphite deposit, has been in production since 1847. It is a high grade, narrow vein, underground mine. Sri Lankan graphite still enjoys a great demand due to its unusually high purity and unique physical properties.
Next Up:
1./ Further analysis of this hole, results within days.
2./ Another hole next week... further definition of size and type of this anomly, proving it out to be one of the largest, most pure grpahite deposits in the world.
3./ Option Agreement settlement, and that's when the big boys join in (they are setting up as we speak).