THUNDER BAY, ONTARIO -- (Marketwire) -- 05/24/12 -- Zenyatta Ventures Ltd. ("Zenyatta" or "Company") (TSXV:ZEN) is pleased to provide the following significant assay results from the current drilling campaign on the Albany Graphite Deposit.
Drill Hole #5 intersected a very large mineralized zone of graphitic breccia and veining, from 44.0 to 214.0 metres ('m') grading 6.6% C (graphite) over 170.0m. The upper graphite zone, from 44.0 to 132.0m, yielded 6.5% C over 88.0m while the lower graphite zone, from 138.0 to 214.0m graded 7.1% C over 76.0m. Individual samples assayed as high as 13.1% C.
Hole #5 (Z12-4F5) was collared 450 metres ('m') east of the original discovery drill hole (Z11-4F1) and drilled in a northerly direction at -65.
Aubrey Eveleigh, President and CEO stated "Hole 5 intersected an incredible grade and width of graphite mineralization on the eastern portion of the geophysical anomaly. This is our best drill hole to date and confirms that Zenyatta has discovered an extensive and unique graphite-rich deposit. The Company is very excited with these remarkable results from a large step-out drill hole."
Drill hole #4 (Z12-4F4) was collared from the same setup as hole #5 but drilled in a southerly direction. From 47.0m to 61.8m the drill hole intersected a zone of graphitic veining and breccia followed by graphitic overprinting from 61.8m to 170.0m. At the 170.0m point, the drill encountered mechanical problems related to a detached drill string. The drill string could not be re-attached and the hole was subsequently abandoned. This particular area of the geophysical anomaly will be re-drilled at a later date. Results are still pending.
The graphite discovery is located 30km north of the Trans Canada Highway, power line and natural gas pipeline. A rail line is located 70km away and an all-weather road approximately 4-5km from the graphite deposit. The Albany graphite deposit is near surface, underneath glacial till overburden.
Mr. Aubrey Eveleigh, P.Geo., President and CEO, is the "Qualified Person" under NI 43-101 and has reviewed the technical information contained in this news release. Analyses was carried out by ALS Chemex Labs using a total carbon (LECO) method code of C-IR07. To find out more on Zenyatta Ventures Ltd., please visit our website www.zenyatta.ca.
This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
|03:38 AM||"Places2Be" Project to Boost European Leadership Around FD-SOI -- The Faster, Cooler, Simpler Chip Technology|
|03:05 AM||Sofia Vergara Wears Jacob Arabo Jewelry to Good Morning America|
|03:01 AM||Birst's Born-in-the-Cloud BI Platform Provides 4moms With Quick Access to Enterprise-Caliber Business Insight|
|03:01 AM||Metamarkets Named a Finalist for the 2013 Red Herring Top 100 North America Award|
|02:00 AM||Kirkland Lake Gold Inc./December 31st Reserve & Resources Update; Significant Increases on the Former JV Properties|
|02:00 AM||Ithaca Energy - Increase in Director Shareholding|
|02:00 AM||u2t Photonics Unveils the World's Fastest Balanced Photodetector With 70 GHz 3dB Bandwidth|
|01:50 AM||Addex Validates Potential Efficacy Biomarker for Phase 1 Trial of its GABA-B Positive Allosteric modulator, ADX71441|
|01:13 AM||Fozzy Brings Shared Hosting Services to the US|
|01:00 AM||Fozzy Brings Shared Hosting Services to the US|
|01:00 AM||Australia Offers Opportunities for Consumer Goods Companies Across A Wide Range of Sectors|
|01:00 AM||TyMetrix Releases Advanced User Interface for TyMetrix 360 Enterprise Legal Management Platform Incorporating Intuitive Workflow Features for Quick Decision-Making|
|12:01 AM||Science Media Partners and IBIA Announce connect:ID Expo|
|12:01 AM||City University of Hong Kong Selects Echo360 to Create an Active Learning Environment With Video|
|12:01 AM||Chemical Industry Ranks Among Top Five in Value Creation|
|Mon, May 20, 2013|
|08:21 PM||The 14th Annual BioEquity Europe Conference Features 96 Innovator Companies With Differentiated Products, Upcoming Milestones and Partner-Ready Assets|
|07:20 PM||Wipliance Makes CE PRO 100 List|
|07:00 PM||WildTangent Accelerates Mobile Momentum With ASUS|
|06:59 PM||Natoma Technologies Celebrates 15 Years as a Trusted Partner to the State of California|
|06:58 PM||MI&T Offers Hurricane Sandy Victims in New York and New Jersey Advice on Mold|
|06:55 PM||Roomlinx Reports 2013 First Quarter Results and Business Strategy Outlook|
|06:00 PM||Nidec Corp. Tops Institutional Investor's Inaugural All-Japan Executive Team Survey|
|06:00 PM||Marin Software Wins 2013 San Francisco Business Times Tech and Innovation Award|
|05:50 PM||The Perfect Gift for Dad: A Relaxing Visit to Massage Heights|
|05:25 PM||Feihe International Announces Record Date and Meeting Date for Special Meeting of Shareholders|
|05:24 PM||Presidential Honor Awarded to RIM Logistics|
|05:10 PM||The Crohn's & Colitis Foundation of America's Day on the Hill Goes Virtual|
|05:08 PM||Sustainable Energy Announces Extension of $1.5M Standby Equity Commitment by Doughty Hanson Technology Ventures|
|05:03 PM||Active Duty Military and Veterans: Get More Than 38,000 Memorial Day Discounts Now at MilitaryAndVeteransDiscounts.com|
|05:03 PM||Cartridge World Offers Free Resume Printing for New Grads|
|More Press Releases From Marketwired News Releases|