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Berkwood strengthens its graphite portfolio by acquiring Lac Gueret South Graphite Property in Quebec
(via Thenewswire.ca) Vancouver, B.C. / TNW-ACCESSWIRE / July 29, 2014 / Berkwood R...
About this update from First Canadian Graphite Inc.
[{"type":"text","content":"Berkwood strengthens its graphite portfolio by acquiring Lac Gueret South Graphite Property in Quebec(via Thenewswire.ca)\n\n \nVancouver, B.C. / TNW-ACCESSWIRE / July 29, 2014 / Berkwood Resources Ltd. (TSX-V: BKR) (the \"Company\" or \"Berkwood\") is pleased to announce that it has signed a Mineral Property Option Agreement (the \"Option Agreement\") with a group of prospectors (the \"Vendors\") pursuant to which Berkwood has been granted an option (the \"Option\") to earn a 100%-interest in the Lac Gueret South Graphite Property located in northeastern Quebec.\n\n \n \nThe Lac Gueret South Graphite Property (the \"Property\") consists of 107 claims totalling 5788 Ha and borders the southern boundary of Mason Graphite's Lac Gueret Project, where a NI 43-101 compliant mineral resource estimate with measured & indicated mineral resources of 50 million tonnes grading 15.6% Cgr (including 6.6 million tonnes grading 32.4% Cgr) was announced. \n\n\n \nThe Lac Gueret South Graphite Property is also adjacent to, on all sides, a separate Mason Graphite property in the Lac Gueret region, which lies 12 km to the southwest of Mason Graphite's Lac Gueret Project. \n\n\n \nThe acquisition of the Lac Gueret South Property, in addition to Berkwood's 100% owned Lac Gueret East Graphite Property, which is east of and contiguous with Mason Graphite's advanced Lac Gueret Project, gives Berkwood a total of 9600 Ha in the region.\n\n\n \n\nClick Image To View Full Size\n\n \n \nBerkwood intends to conduct an aggressive exploration campaign on the Property commencing immediately.\n\n\n \nBrian Buchanan, CEO and Director of the Company states: \"This acquisition bolsters Berkwood's position in the Graphite space. The Lac Gueret South Graphite Property is well located in the Grenville Province, sharing a similar prospective geological environment and adjacent to Mason Graphite's Lac Gueret Project. We are fortunate to add this asset to our graphite portfolio in this prospective region and looking forward to starting exploration work.\"\n\n \n \nThe Option Agreement:\n\n\n \nPursuant to the terms of the Option Agreement, Berkwood has the option to acquire a 100% -interest in the Lac Gueret South Graphite Property by making cash payments and issuing Berkwood securities as set forth below:\n\n \n\n\nCash\n\n\n\n\nSecurities\n\n\n\n\nOn signing\n\n\n\...