Zimtu Capital Corp. Announces Transaction with Big North Capital Inc. for Graphite Properties in Southern Ontario

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[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, March 15, 2012 /CNW/ - Zimtu Capital Corp. (TSXv: ZC; FSE:\n ZCT1) (the \"Company\" or \"Zimtu\") is pleased to announce that the\n Company and two prospecting partners have signed an agreement with Big\n North Capital Inc. (TSXv: NRT) (\"Big North\") whereby Big North can earn\n a 100%-interest in the Griffith and Brougham Graphite Properties\n located in southern Ontario.\n\n\nProperty highlights include:\n\n\nApproximate 6,500-hectare land position in central southeastern Ontario\n\n\nExploration target is high value, high quality large flake graphite\n\n\nArea of well-established access and infrastructure\n\n\nClose to major end-use markets: United States and Europe\n\n\nOther companies with active development projects in the region include\n Northern Graphite Corp. (Bissett Creek) and Ontario Graphite Ltd.\n (Kearney).\n\n\nFor its participation in the transaction, Zimtu will receive staged cash\n and share payments from Big North as follows: (i) $20,000 on signing;\n (ii) $20,000 and 500,000 common shares on acceptance by the TSX Venture\n Exchange (\"TSXv\"); (iii) 250,000 common shares 14 months from the date\n of TSXv acceptance; and (iv) 250,000 common shares 24 months from the\n date of TSXv acceptance. Zimtu's two prospecting partners will together\n receive cash and share considerations equal to that of Zimtu. The\n vendors will collectively retain a 2% Net Milling Royalty on the\n Property; 1% of which can be purchased by Big North for C$1 million. A\n finder's fee may be paid in connection with this transaction up to the\n maximum permitted by the policies of the TSX-V.\n\n\nGriffith and Brougham Graphite Properties\n\n\nThe property consists of two approximately equal-size claim blocks in\n Lyndoch-Griffith and Brougham Townships, respectively, that total\n approximately  6,500-hectares located about 140 kilometres south of\n Ottawa. The claim blocks, known as the Griffith Graphite Property and\n the Brougham Graphite Property (together, the \"Property\"), contain or\n adjoin numerous historical graphite occurrences. The Property is\n located in an area of well-established access and infrastructure.\n\n\nThe Property covers substantial tracts of graphite-prospective\n Grenville-age marble+/-gneiss geology and are unexplored for graphite\n using modern technology. The Brougham Graphite ...

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