Bluenose Gold Corp. (TSX VENTURE:BN.H) is pleased to announce that it has agreed to acquire a 100% interest in 16 mineral claims named the “Zenyatta West Graphite Project”. Bluenose’s Zenyatta West Graphite Project is contiguous on the west boundary of Zenyatta Ventures Ltd.’s Albany (hydrothermal) graphite deposit discovery located in Northern Ontario, Canada.
Bluenose’s Zenyatta West Graphite Project is prospective for significant hydrothermal graphite.
Zenyatta recently discovered the Albany (hydrothermal) graphite deposit. Zenyatta continues to report significant drilling intercepts and carbon grades including as recently as July 2, 2013. The Zenyatta graphite deposit corresponds with a magnetic low that was detected by aeromagnetic survey.
A significant magnetic low appears to be located on Bluenose’s Zenyatta West Graphite Project.
Hydrothermal graphite is described as high purity, light-weight, highly conductive material. Hydrothermal graphite plays an increasingly important role in our everyday lives: for instance as a major component in lithium-ion batteries. Lithium-ion batteries have 10 to 20 times more graphite than lithium batteries. Sales for these important batteries are increasing and are expected to increase significantly. Hydrothermal graphite’s quality gives it an expanding future as a key component in important products in rapidly expanding markets. Environmentally friendly electric vehicles including the Tesla and industrial vehicles, smart phones, tablets, laptops, e-bikes, e-motorcycles and e-scooters all contribute to increasing market demand for hydrothermal graphite. Hydrothermal graphite is important for storage on smart grids and for off grid power supplies. The future seems very bright for hydrothermal graphite and hydrothermal graphite suppliers.
Under the terms of the purchase agreement, Bluenose can acquire a 100% interest in the Zenyatta West Graphite Project by paying $20,000 to the vendor and issuing 1,500,000 common shares to the vendor within 10 days of TSX Venture Exchange acceptance for filing of the purchase agreement. A 1% royalty has been reserved in favour of the vendor, a private exploration corporation. The acquisition of the Zenyatta West Graphite Project is subject to acceptance for filing by the TSX Venture Exchange.
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We acknowledge the [financial] support of the Government of Canada.