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News Release:  Big North Graphite Corp. (TSXv: NRT) Options Quebec Graphite Property
 

News Release: Big North Graphite Corp. (TSXv: NRT) Options Quebec Graphite Property

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Zimtu Capital Corp. (TSXv: ZC) announces that the Company and three of its prospecting partners have signed an agreement with Big North Graphite Corp. whereby Big North can earn a 100% interest in the ...

Zimtu Capital Corp. (TSXv: ZC) announces that the Company and three of its prospecting partners have signed an agreement with Big North Graphite Corp. whereby Big North can earn a 100% interest in the Grand Lac du Nord Graphite Property in Quebec.

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    News Release:  Big North Graphite Corp. (TSXv: NRT) Options Quebec Graphite Property News Release: Big North Graphite Corp. (TSXv: NRT) Options Quebec Graphite Property Document Transcript

    • ZIMTU CAPITAL CORP. ANNOUNCES TRANSACTION WITH BIG NORTH FOR GRAND LAC DU NORD GRAPHITE PROPERTY IN QUEBECApril 11, 2012 - Zimtu Capital Corp. (TSXv: ZC; FSE: ZCT1) (the “Company” or “Zimtu”)is pleased to announce that the Company and three prospecting partners have signedan agreement with Big North Graphite Corp. (TSXv: NRT) (“Big North”) whereby BigNorth can earn a 100%-interest in the Grand Lac Du Nord Graphite Property located inQuebec.Grand Lac Du Nord Graphite Property:The Grand Lac du Nord Graphite Property (the “Property”) consists of one contiguousclaim block totaling approximately 2,009 hectares (20.09 km2) located approximately140 kilometers northwest of Sept-Iles, Quebec. The property is accessible via pavedand logging roads.The Property was previously explored by SOQUEM, Inc. following up on airborneelectromagnetic (EM) anomalies. Ground work in 2000 and 2001 identified a high gradesillimanite formation. The presence of graphite over the property was also noted visuallybut not given any focus at the time.The Property contains a graphitic paragneiss formation approximately 8 kilometres inlength by 1 to 2 km wide. The formation is composed of quartz, graphite, biotite andsulphides. The sulphides are in veinlets or disseminated in the paragneiss while thegraphite is in disseminated flakes. A second formation parallel with the above consistsof a sillimanite paragneiss band, also 8 km in length with a width of about 1 to 2 km.This horizon composed of quartz-feldspars, sillimanite, graphite, biotite, garnet andcordierite. The formation is intercalated with bands of quartzite.Property maps will be posted on Big North’s website at:http://www.bignorthgraphite.comBig North intends to mount an exploration campaign on the Property commencing with acomplete compilation of historic geologic work followed by surface work, trenching anddiamond drilling. The exploration target is an open-pittable, crystalline flake graphitedeposit similar to other graphite deposits and mines in Quebec such as Focus Metals
    • Inc.’s (TSXv: FMS) Lac Knife Deposit and Timcal Graphite and Carbon’s Lac des IlesMine.Terms:For its participation in the transaction, Zimtu will receive staged cash and sharepayments from Big North as follows: (i) $10,000 on signing; (ii) $10,000 and 375,000common shares on acceptance by the TSX Venture Exchange (“TSXv”); (iii) 125,000common shares 6 months from the date of TSXv acceptance; (iv) 125,000 commonshares 12 months from the date of TSXv acceptance; (v) 125,000 common shares 14months from the date of TSXv acceptance. Zimtu’s three prospecting partners will eachreceive cash and share considerations equal to that of Zimtu. The vendors will retain a2% Net Milling Royalty on the Property; 1% of which can be purchased by Big North forC$1 million.In addition, if, at any time within seven years of the effective date, Big North files a NI43-101 compliant resource (in any category pursuant to CIMM standards) with 200,000tonnes or more of graphite content (at a cut-off of 5% Cgr) or the equivalent insillimanite at a ratio of 5 for 1, Big North will pay to the vendors collectively additionalcash consideration of $200,000 and will issue 2,000,000 shares to the vendors.Graphite MarketGlobal consumption of natural graphite has increased from ~600,000 in 2000 to 1.2 MMt in 2012. Demand for graphite has been increasing by approximately 5% per year since2000 due to the ongoing modernization of China, India and other emerging economies,resulting in strong demand from traditional end uses such as the steel and automotiveindustries. Graphite also has many important new applications such as lithium-ionbatteries, fuel cells and nuclear and solar power that have the potential to createsignificant incremental demand growth. There is roughly 20 times more graphiterequired by weight to produce a lithium-ion battery than there is lithium. Demand forgraphite is expected to rise as electric vehicles and lithium battery technology areadopted as well as increasing uses in new technology applications.Natural graphite comes in several forms: flake, amorphous and lump. Of the 1.2 milliontonnes of graphite produced annually, approximately 40% is of the most desirable flaketype. China, which produces about 73% of the worlds graphite, is seeing productionand export growth leveling and export taxes and a licensing system have beeninstituted. A recent European Commission study regarding the criticality of 41 different
    • materials to the European economy included graphite among the 14 materials high inboth economic importance and supply risk (Critical Raw Materials for the EU, July2010). Graphite prices have been increasing in recent months and over the last coupleof years prices for large flake, high purity graphite (+80 mesh, 94-97%C) have morethan doubled.The optioned claims were acquired by the Company and its partners by staking. Zimtu,along with its prospecting partners, continue to evaluate and acquire prospectiveresource properties to make available for sale or joint venture. As part of the Company’sbusiness, Zimtu provides mineral property advisory services and helps to connectcompanies with mineral properties of interest.Jean-Sebastien Lavallée (OGQ #773), geologist, a Qualified Person as defined byNational Instrument 43-101, has reviewed and approved the technical content of thisrelease.About Zimtu Capital Corp.Zimtu Capital Corp. invests in, creates and grows natural resource companies therebyproviding a way for shareholders to indirectly participate and profit in the publiccompany building process. The Company also provides mineral property advisoryservices helping to connect companies to properties of interest.Zimtu Capital trades on the TSX Venture Exchange under the symbol “ZC” and theFrankfurt Stock Exchange under the symbol “ZCT1.” For more information please visitthe corporate website at http://www.zimtu.com or contact:Kevin BottomleyShareholder ServicesToll Free: 1.877.377.6222Phone: 604.681.1568Email: info@zimtu.comOn Behalf of the Board of DirectorsZIMTU CAPITAL CORP.“David Hodge”David HodgePresident & DirectorPhone: 604.681.1568
    • 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.Statements in this document which are not purely historical are forward-looking statements, including anystatements regarding beliefs, plans, expectations or intentions regarding the future.Forward-looking statements in this news release include that Big North can earn a 100%-interest in theGrand Lac Du Nord Property; that in consideration for its interest, Zimtu will receive staged cash andshare payments from Big North, that Zimtus partners will receive cash and share consideration equal tothat of Zimtu; that the vendors will collectively retain a 2% Net Milling Royalty on the property, 1% ofwhich can be purchased by Big North for C$1 million; that Big North plans to mount an explorationcampaign on the Grand Lac Du Nord Property commencing with a complete compilation of historicgeologic work followed by surface work, trenching, and diamond drilling; and that Zimtu with the supportof its prospecting partners will continue to evaluate and acquire prospective resource properties to makeavailable for sale or joint venture.It is important to note that actual outcomes and the Company’s actual results could differ materially fromthose in such forward-looking statements. Risks and uncertainties include, but are not limited to,economic, competitive, governmental, environmental and technological factors that may affect theCompanys operations, markets, products and prices. Readers should refer to the risk disclosuresoutlined in the Company’s Management Discussion and Analysis of its audited financial statements filedwith the British Columbia Securities Commission.