Canadian International Minerals Inc. (the "Company" "CIN") is pleased to announce that it has located the historic Miller graphite vein in the emerging graphite exploration play centred on the Albany Graphite Project of Zenyatta Ventures Ltd. in Northern Ontario.
The Company currently owns 50% of the property, with an option to increase its interest to 100% under an agreement with the staking syndicate. The property is accessible by forestry roads, and further evaluation is being planned in light of increased interest in the Albany hydrothermal graphite discovery. The property, which includes the Miller graphite occurrence, is located in the Foch Township, and consists of a single claim, extending over 15 located units, with an aerial extent of 240 hectares. The claims were staked in May 2012, prior to the recent land acquisitions in the vicinity (CIN news release dated May 1, 2012).
The Miller graphite showing is described in a report of the Ontario Geological Survey by Lorne Luhta, M.Sc., and is included in the 1989 Report of the Timmins Resident Geologist:
Samples of graphite collected by the Timmins Resident Geologist staff returned analysis of 30.4% and 30.3% carbon. Flake size averages 1 millimetre but some flakes up to 3 millimetre. The sample may have the potential of producing high grade flakes in the minus 300, plus 150 micron fraction.
The underlying geology consists of an east west striking sequence of quartzites and gneisses. Interbedded with the gneisses are graphite rich beds of medium grained granular textured quartzites.
The historic showings, and new, previously undocumented graphite occurrences coincident with resistivity low airborne geophysical anomalies (OGS Map 60-028, 2001), have been located by the syndicate. Recent samples of the vein have been processed by a major private graphite producer. Initial results confirm the occurrence as described by the Ontario Geological Survey.
The technical data in this news release has been reviewed by Thomas Hasek, P. Eng. a Qualified Person under the terms of N.I. 43-101.
On behalf of the Board of Directors,
"Michael E. Schuss"
Michael E. Schuss
President and Chief Executive Officer
For further information on Canadian International Minerals Inc., please visit the company website at www.cin-v.com/miller , or contact Michael Schuss at (604) 241-2254.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Canadian International Minerals Inc. undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements
Leave a comment...