Caribou Begins Drill Program at Mulloy 10 Km West of Zenyatta's Albany Graphite Project, Ontario
2014年1月29日 - 10:22PM
Marketwired
Caribou Begins Drill Program at Mulloy 10 Km West of Zenyatta's
Albany Graphite Project, Ontario
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 29, 2014) -
CARIBOU KING RESOURCES LTD. ("Caribou" or the "Company")
(TSX-VENTURE:CKR) (FRANKFURT:CB8) is pleased to announce that
a drill program has now commenced at the 100% owned Mulloy Graphite
Project, located approximately 10 kilometers west of the Zenyatta
Ventures Ltd. Albany graphite project in Ontario. The Company has
engaged drillers Acklo Diamond Drilling (Timmins, ON) to complete
an initial 2,000 meters core drilling program, to confirm historic
drilling by Shell Canada Resources Ltd. that encountered 90% visual
graphite over 38.46 meters on its Mulloy graphite project (see
news release, August 15, 2013) and to test new electromagnetic
(EM) conductor targets identified through geophysics conducted in
late 2013. Earlier this week the Company announced that it signed
an exploration agreement with the Constance Lake First Nations to
continue exploration at Mulloy (see news release, January 27,
2013).
Mulloy Project
Map: http://caribouking.com/wpsite/graphite/mulloy/
Michael England, CEO and Director states, "We are drilling into
a high grade historic graphite discovery by Shell Canada as well as
multiple high priority EM conductors in a camp that is surrounded
by active exploration and recent graphite discoveries. We have
established a broad corridor with multiple EM conductors that
points to the potential for Caribou to make a drill discovery at
Mulloy. Multiple upcoming drill programs are planned for our
portfolio of highly prospective graphite properties throughout
2014."
As reported previously, a horizontal loop electromagnetic (HLEM)
survey identified several EM conductors on the Mulloy property,
including three with a strike length over 700 meters, with the
fourth striking over 600 meters in length, and all conductors
remain open along strike (see news release, December 17,
2013). Drilling will focus on the conductors that correspond
in part with magnetic lows that together are believed to indicate
graphite mineralization. Drilling will also test historical
drilling by Shell Canada Resources Ltd. that encountered 90% visual
graphite in 18.68 meters of graphitic schist, followed by a second
graphitic schist intersected over 19.78 meters for a total of 38.46
meters (Ontario Ministry of Northern Development and Mines,
Report 42F15NE8019). An estimate of true thickness cannot be
determined from the historic drilling, and the graphite content is
a visual historical estimate and should not be relied upon without
lab assay confirmation.
The technical contents of this release were approved by Dr. Tom
E. McCandless, P. Geo., technical advisor to Caribou and a
qualified person as defined by National Instrument 43-101. The
property has not been the subject of a National Instrument 43-101
report, and Dr. McCandless has not verified the technical data
disclosed in this release.
ON BEHALF OF THE BOARD
Michael England, CEO, Caribou King Resources Ltd.
Forward-Looking Statement:
Some of the statements in this news release contain
forward-looking information that involves inherent risk and
uncertainty affecting the business of Caribou King Resources Ltd.
Actual results may differ materially from those currently
anticipated in such statements. Neither the 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.
Caribou King Resources Ltd.Michael EnglandCEO1-604-683-3995 or
Toll Free: 1-888-945-4770604-683-3988
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