Canada Strategic Metals (TSX: V.CJC, Stock Forum) advanced its ambitions at the La Loutre Crystalline Flake Graphite Property located in Quebec, Canada, when the company announced today that it had received a drill permit for the property.
According to the news release, the 29-hole permit will allow the company and its 40% interest partner Lomiko Metals (TSX: V.LMR, Stock Forum) to carry out an exploration campaign aimed at identifying high-grade, near-surface graphite mineralization suitable for conversion to battery-grade graphite.
The company noted an area of interest on the property which produced grab samples of up to 22.04% carbon flake graphite and carbon purity test results of up to 100% carbon purity in the large and extra large flake graphite.
In other news, the company announced that it had renewed its contract with Paradox Public Relations who will focus on developing and expanding the company's communications with the financial community through a full investor relations program. The agreement is for 24 months with a monthly fee of $5,000.
Canada Strategic Metals was in the news recently when the Montreal, Quebec-based company announced signing the JV agreement with Lomiko Metals for 40% interest in the La Loutre Graphite Property a little under two weeks ago.
Shares gained 7.69% on the news to $0.07 per share.
Currently there are 66.2m outstanding shares with a market cap of $4.3 million.
FULL DISCLOSURE: Canada Strategic Metals is a Stockhouse Publishing client.