Aug 26 2016
CKR Carbon Corporation is pleased to announce that it has renegotiated the terms of its option agreement to acquire 100% of the Montpellier graphite project in southern Quebec.
The company will issue 400,000 common shares in the capital of the company (the "CKR Shares") to the optioner in lieu of the remaining work commitment of $40,572. The work commitment was the last remaining term of the option agreement dated December 9, 2013 and following the issuance of the CKR Shares, the Company will hold 100% of the property subject to a 2% net smelter return royalty. The Company continues to work on its Aukam graphite project in Namibia.
Montpellier is a potentially significant graphite source in an area of excellent infrastructure that deserves further investigation in the future. The main graphite zone at Montpellier has a width of about 15 meters and was traced by means of trenching and drilling for more than 250 meters along strike and at least 75 metres depth, with some historical holes terminating in mineralization at about 90 metres. Assay results from the historical drilling performed in the 1980s intersected 10.47% carbon as graphite (Cg) over 44.97 meters and 12.33% Cg over 21.65 meters (Source 1984, Ministere de l'Energie et de Ressources Quebec, Report Nos. GM42965, 80p; GM41744, 41p.). Note that estimates of true thickness were not determined in the historical drilling.
The main zone remains open in both directions and further indications of graphite are known along strike. Two drill holes with intercepts of 6.5% Cg over 30 metres and 8.2% Cg over 26 metres occur 160 metres to the southeast and possibly define another zone parallel to the main graphite zone. These zones require further follow up.
The graphite mineralization is associated with paragneisses and two distinct styles have been recognised. Higher graphite content (9-23% cg) is typically observed at the contact between paragneiss/marbles or quartzite/marbles in an altered unit with chlorite and carbonates. These zones, are brecciated or sheared and typically 0.5-7 metres thick.
The second type of graphite mineralization consists of disseminated flake graphite that occurs in marble units, with concentrations ranging from 3 to 6% Cg over much larger intersects with average width of 20 metres.
The technical content of this news release was approved by Roger Moss, Ph.D., P.Geo a qualified person as defined by National Instrument 43-101.