Oct 4 2013
CARIBOU KING RESOURCES LTD. ("Caribou" or the "Company") is pleased to announce that multiple graphite occurrences have been exposed on its 100%-owned TAC graphite property in Quebec. The graphite was exposed during road repair following logging activity in the area, and includes a massive graphite zone exposed over roughly one square meter at surface.
The prospecting team sampled the massive graphite with a portable drill (Shaw Tool, Yamhill, Oregon) recovering 34 centimeters of graphitic schist followed by 30 cm of mostly graphite. Drilling stopped due to mechanical problems, terminating in graphite at 74 cm. The true thickness of the graphite zone is unknown, and efforts are underway to expose more of the graphite along strike. Both core samples, each roughly 25mm in diameter, have been sent for assay with results expected in the coming weeks.
The massive graphite exposure correlates with a conductor identified from ground geophysical surveys that were recently completed by the Company. The dipole-dipole induced polarization (IP) and magnetic surveys were conducted by Vision Exploration (Timmins, ON) with a total of 4.2 line-km of IP 4.8 km of magnetics completed on the property. Additional graphitic outcrops have been identified elsewhere on the property as follow-up to the surveys and these are also being sampled. Permitting for line cutting and drilling has also been applied for, with further geophysics to define targets for drilling in the coming weeks. Historical drilling on the property in the 1980's returned a weighted average graphite content of 9.86% Cgf over 46.75 meters (see Reconnaissance géologique et campagne de forage 1989-1990, Propriété TAC, Canton Mousseau by Ressources Graphicor, GM51068).
Maps of the TAC property and images of the massive graphite exposure can be found at:
TAC & LacVert Map: http://caribouking.com/wpsite/graphite/tac-lac-vert/
Michael England, CEO and Director states, "The discovery of a massive graphite exposure at TAC during basic road repair is very exciting. Combined with our recently completed geophysics and the historic drilling, we are well-positioned to make further discoveries in the coming weeks. Our TAC property is surrounded by a number of companies who are actively exploring for graphite, and the area is quickly emerging into a new graphite district."
The technical contents of this release were approved by Dr. Michel Boily, P. Geo., 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. Boily has not verified the technical data disclosed in this release.
The Company also announces the resignation of David Lajack as a Director of Caribou King Resources. Caribou thanks Mr. Lajack for his time spent as a director.