06:08:35 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Berkwood Resources Ltd (3)
Symbol BKR
Shares Issued 61,009,341
Close 2019-08-22 C$ 0.03
Market Cap C$ 1,830,280
Recent Sedar Documents

Berkwood receives TSX-V OK to acquire Lac Gueret claims

2019-08-22 18:07 ET - News Release

Mr. Thomas Yingling reports

TSX Venture Exchange approval has been granted to Berkwood Resources Ltd. acquiring six selected groups of claims consisting of 58 claims covering 3,116 hectares adjacent to its Lac Gueret South project. The company now holds a 100-per-cent interest in the property. These six groups of claims occur either directly adjacent to, or within a few kilometres of, Berkwood's existing claims, and each has either known graphite showings or geological extensions of known graphite-bearing formations over which geophysical conductive anomalies have been surveyed.

Consideration for the acquisition of the new claims comprised the payment to the vendors of $11,500 and the issuance of 1.95 million common shares.

Lac Gueret South property, Quebec

Lac Gueret South is located in Cote Nord, Que., a three-hour drive from Baie-Comeau in an area of very good infrastructure. The project directly borders Mason Graphite's advanced Lac Gueret project to the south. With a market capitalization of over $40-million, Mason owns one of the largest high-grade graphite deposits in the world and is planning on building a new graphite mine and processing plant.

Lac Gueret South's zone 1

Two distinct electromagnetic conductors appear to occur over a two-kilometre length and 50 metres to 600 metres in width as defined by airborne EM (electromagnetic) geophysics (see the Berkwood news release dated Feb. 10, 2015). The western part of this zone was further defined by ground VLF (very low frequency) and EM surveys; four VLF and 22 contiguous PhiSpy EM conductors have been detected over an apparent 800-metre length and up to a 300-metre width. This western area is now recognized to comprise a significant graphite zone interlayered within the hinge of a complex fold. The apparent fold limbs thin to approximately 50 metres in width farther to the east.

Four separate drill programs have been executed on the western extent of Berkwood's zone 1 graphite body for a total of 45 holes and 6,091.7 metres completed between August, 2017, and December, 2018. One hole of 6.1 metres was incorrectly collared and did not intersect graphite. The company intersected visual graphite in every other hole drilled (44), with significant Cgr (carbon as graphite) intercepts being observed in 41 holes. These programs have provided the data and assays for completion and announcement of an in-pit constrained resource totalling 1,755,300 tonnes of indicated resources at 17.00 per cent Cgr and 1,526,400 tonnes in inferred resources at 16.39 per cent Cgr (refer to the news release on June 16, 2019).

Financing

The company has closed a private placement as to the issuance of 600,000 common share at five cents. The use of proceeds will be for working capital. No finder's fee was paid. The shares will be issued having a four-month-plus-one-day hold period.

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 of experience and the members of which have been involved with the discovery of several producing mines.

We seek Safe Harbor.

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