Business
Berkwood Resources Commences New Drill Program on Zone 2 at Lac Gueret South Graphite Project
November 22nd, 2017 / TheNewswire / VANCOUVER, B.C. Berkwood Resources Ltd. (TSX-V: BKR, FSE: BK2, WKN: A110N3) ("Berkwood" or the "Company") is pleased to anno
About this update from First Canadian Graphite Inc.
[{"type":"text","content":"November 22nd, 2017 / TheNewswire / VANCOUVER, B.C. Berkwood Resources Ltd. (TSX-V: BKR, FSE: BK2, WKN: A110N3) (\"Berkwood\" or the \"Company\") is pleased to announce that it has commenced drilling on the Zone 2 geophysical prospect at the Company's 100% owned Lac Gueret South Project. The Zone 2 target is an extensive (greater than 2 km strike length) conductive system that displays a number of geophysical similarities with the Zone 1 prospect that is located approximately 3.5 km SSE of Zone 2, where the company discovered extensive graphite mineralization earlier this year. The Zone 1 drill program featured intersections of graphite in each of the 13 holes drilled. The initial metallurgical assessment is in progress. The fall drill program at Zone 2 is located adjacent to the Berkwood / Mason Claim boundary, and has not previously been drill tested. The Company intends to assess whether Zone 2 has the potential to host commercial graphite, and will consider the results of this fall program in developing its drilling and metallurgical test work priorities. Tom Yingling, President and CEO states, \"I am pleased we have embarked upon our second drill program. Having had success in every one of the 13 holes drilled to date on Zone 1 is very exciting. We are still awaiting assay results on these holes, and we expect to release these within a few weeks. The drill rig is established on Zone 2. The geophysics on Zone 2 is comparable with that of Zone 1, which we now know includes graphite (although other conductive and magnetic phases, such as pyrrhotite, were also intersected in drilling). The location of the Zone 2 prospect along the Berkwood Mason property boundary is also compelling. Drilling a second, entirely distinct target provides Berkwood shareholders two potential opportunities for success as the Company will seek to prioritize the most compelling prospect for ongoing assessment of potential for development. Our fall drill program is fully financed, and the field project is managed by the same team that discovered Berkwood's Zone 1 discovery and the Mason Graphite deposit. I am thrilled with our shareholder and financing support, and with our capital structure - we still only have approx. 32.5 million shares outstanding.\" The Company has completed road access and trails for the initial group of targets at Zone 2, and dri...