06:57:51 EST Thu 23 Jan 2020
Enter Symbol
or Name

Login ID:
Zenyatta Ventures Ltd
Symbol ZEN
Shares Issued 74,333,569
Close 2019-01-10 C$ 0.50
Recent Sedar Documents

Zenyatta Ventures budgets $3M for Albany bulk sample

2019-01-11 08:35 ET - News Release

Dr. Francis Dube reports


Zenyatta Ventures Ltd. has provided an update on its now fully permitted 2019 bulk sampling program on the Albany graphite project, located in Northern Ontario near the communities of Constance Lake First Nation and Hearst. The main purpose of the program is to recover a large sample of the graphite mineralization in order to generate graphene product samples for market development purposes. The program is expected to generate up to 40 tons of 99.8-per-cent-purity graphene precursor material. The total budget for the program is $3-million, to be financed with the proceeds of the recently completed flow-through financing.

"This bulk sampling program is critical to the further development of the exciting graphene product opportunity that we have confirmed with our research partners over the past few months. We now have numerous potential customers requesting product samples to test in various new graphene-based technologies and composites in our five identified verticals. This work will also help us discover the market value of ZEN's graphene products," stated Dr. Francis Dube, co-chief executive officer.

The company has now received the final two permits required from the Ministry of Northern Development and Mines: one for permission to collect the 990 tonne sample and offer graphene produced from the sample for sale to prospective future customers; and second, an exploration permit to drill the large diameter reverse circulation drill holes required to recover the sample from the overburden-covered Albany deposit.

The company has also received permission from the Ministry of Natural Resources and Forestry to build three ice bridge creek crossings along the proposed winter access road to the drill site which will largely utilize preexisting forestry roads, a bridge and the 2013 winter trail. Now that the program is fully permitted and financed, preparation of the winter road will get under way immediately. The drilling is expected to be completed by the end of March, 2019, following which processing work on the bulk sample can begin.

Peter Wood, PEng, PGeo, is the qualified person for the purposes of National Instrument 43-101 and has reviewed, prepared and supervised the preparation of the technical information contained in this news release.

About Zenyatta Ventures Ltd.

Zenyatta's Albany graphite project hosts a large and unique quality deposit of highly crystalline graphite. Independent labs in Japan, United Kingdom, Israel, United States and Canada have demonstrated that Zenyatta's Albany graphite/Naturally Pure easily converts (exfoliates) to graphene using a variety of simple mechanical and chemical methods. The deposit is located in Northern Ontario just 30 km north of the Trans-Canada Highway, near the communities of Constance Lake First Nation and Hearst. Important nearby infrastructure include hydropower, natural gas pipeline, a rail line 50 km away and an all-weather road just 10 km from the deposit.

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.