08:13:02 EDT Sat 20 Apr 2019
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Berkwood Resources Ltd (3)
Symbol C : BKR
Shares Issued 54,534,341
Close 2019-01-15 C$ 0.08
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Berkwood completes phase 4 drilling at Lac Gueret

2019-01-16 09:21 ET - News Release

Mr. Thomas Yingling reports

BERKWOOD DISCOVERS 3 LARGE GRAPHITE OUTCROPS AND COMPLETES PHASE 4 DRILLING

Drilling at Berkwood Resources Ltd.'s phase 4 definition drilling program on zone 1 at the company's 100-per-cent-owned Lac Gueret South project is complete. The program was designed to extend eastward, and to infill drill portions of the current mineralization model. During the phase 4 program Berkwood has drilled 16 new NQ diameter diamond core holes for 2,078 metres of newly acquired, to bring the total drilling at zone 1 to 5,940 m over 43 drill holes. The company is very pleased to announce that while moving the drill from one drill pad to another three large graphitic outcrops were discovered, one of them over 60 metres in length. The company collected saw-cut surface channel samples on two of these outcrops to enhance the geological model.

Berkwood has completed the logging, and the sampling and storage of core. Four hundred fifty-eight samples (approximately 2,050 kilograms), including the outcrop channel samples, have been received by MS Analytical Laboratories in Langley, B.C., for analyses using the same analytical procedures applied to the samples from previous programs. The company has continued its practice of inserting field duplicate and blank samples. No certified reference standards were inserted in the field. The laboratory routinely uses a variety of graphite and sulphide standards whose grades and matrix mineralogy are similar to the sampled materials. Each sample during both the crushing and pulverizing preparation phases will be subjected to barren material cleaning between samples to reduce any potential for cross-contamination.

The phase 4 program benefited from the Mise-A-La-Masse (MALM) geophysical program as described in a news release of Dec. 13, 2018.

"We're pleased to have completed phase 4 by the start of 2019 and even more pleased to have exposed three very large graphite outcrops. Having graphite at surface improves the economics significantly as it means that if we go into production the very first shovel in the ground makes money without the expensive and timely need to remove large amounts of waste rock," states Tom Yingling, president and chief executive officer. "I want to wish all our supporters and shareholders a prosperous new year, and to thank them for their support through 2018. The phase 4 campaign will enable our deposit model to be improved to support preparation of a preliminary resource statement. In the event that we require more drilling to achieve this goal, we are fully financed to complete another drill program."

The phase 4 drill program was supported by Quebec-based drilling and project management companies, and project and camp support personnel from the project area. The drill program was updated with near-real time interactive updates to the geology, structure and mineralization model by frequent data transmission to Tony Gilman of Terrane Geosciences (structural modelling) and Michael Waldegger of MFW Geosciences (resource estimate), to ensure that the phase 4 work informed real-time model evolution and maximized the effectiveness of drill targeting.

The integrated team will utilize the phase 4 data to extend and improve the geological model with a view to constraining mineral resource estimation requirements in the near term.

Lac Gueret South, zone 1

Lac Gueret South is located in Cote Nord, eastern Quebec, a three-hour drive north from Baie-Comeau in an area with very good infrastructure. The project lies directly south of Mason Graphite's advanced Lac Gueret project. Mason is developing one of the largest medium- to high-grade graphite deposits in the world.

The project comprises 288 claims which cover a total area of 15,552 hectares.

Prior to commencement of the current phase 4 campaign, the company has drilled 27 holes on zone 1 that totals 4,006 m. The company is pleased to announce it has intersected visual graphite in every hole drilled to date. Success in these drill programs confirms that a significant component of the distinct electromagnetic conductors that occur over a two-kilometre strike length and 50 metres to 600 metres in width as defined by airborne EM geophysics (see the Berkwood news release dated Feb. 10, 2015) that includes graphite mineralization.

Edward Lyons, PGeo (British Columbia, Quebec, Newfoundland), is a qualified person under the definition of Canadian National Instrument 43-101, and he has approved the technical information in this news release. Mr. Lyons has worked extensively on the Lac Gueret property, now owned by Mason, and neighbouring graphite properties since 2000.

About the company

Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools. The company is led by a team with collectively over 100 years experience and whose members have been involved with the discovery of several producing mines. The company is particularly pleased to have partnered with Quebec-focused entities for the financial support of the Lac Gueret South project.

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