Caribou Receives Request for High-Grade Buckingham Graphite Samples from Top European Industrial & Strategic Minerals Company
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 19, 2015) - Caribou King Resources Ltd. ("Caribou" or the "Company")(TSX VENTURE:CKR) is pleased to announce it has been contacted to provide high-grade graphite samples to a European based full service analytical company specializing in high-value industrial and strategic minerals. A 5kg sample from the "Uncle Zone" on Caribou's 100% owned Buckingham graphite project that yielded over 81% Cg (see CKR news Nov 18 2013) has now been sent to an in-house laboratory and test center for analysis. Caribou was recently contacted to provide a high-grade sample for analysis after its March 3rd 2015 news release reported the Company achieved over 99.9% Cg from a flotation circuit alone without process optimization such as acid leach or alkaline roast.
Michael England, CEO and Director of Caribou King, stated: "Our recent Buckingham graphite samples that achieved over 99.9% Cg from flotation alone have garnered international recognition. We are excited to have been contacted by one of the top European based full service analytical firms that has offered to provide testing and analysis of our high-grade graphite using state-of-the-art analytical methods as well as the potential for offtake agreements and strategic partnership introductions. Initial sampling at Buckingham has returned some of the highest assay results reported in Quebec to date and further exploration is now underway to continue to define the graphite rich Uncle Zone."
Caribou now has exposure to a full project value chain that offers expert support from exploration through quality evaluation and tailor-made process design to market introduction and testing for end user approval by potential customers. This potential working relationship will provide a unique combination of a fully equipped technical center, analytical facilities, and strong contacts in downstream industries to thoroughly evaluate and process technical samples.
All carbon analyses described above were performed by SGS Canada and are reported as graphitic carbon employing a Leco SC-632 instrument. The results reported in this release are from a single trench and are not necessarily representative of all mineralization hosted in this zone. Further testing must be carried out to verify these results.
Isabelle Robillard, P. Geo No. 287 (an associate of Inlandsis Consultants SENC), an independent qualified person under National Instrument 43-101, has reviewed the metallurgical balance sheet and assay results produced by SGS Canada and approved the technical information provided in this news release.
About the Buckingham Project
The Buckingham property is comprised of eight claim blocks totaling 480 hectares, situated in southwestern Quebec in the Central Metasedimentary Belt of the Grenville Geologic Province. Graphite occurs in veins and within pegmatite, diopside skarn, marble and gneiss. The region is known for its graphite deposits that were mined periodically from 1875 to 1920 and delivered graphite of exceptional quality. Buckingham is situated approximately at the western limit of historic Walker Graphite Mine, which extracted 816 tons of both disseminated flaky graphite and vein-type (lump) graphite. Vein-type graphite is the most valuable with large-size flake graphite having the highest price of the flake types. At the main test pit of Walker Mine, situated some 750 meters east of Buckingham property, disseminated graphite occurred in gneiss, in proportions up to 25% and was described as affording a very high percentage of large flakes (F. Cirkel, 1907, Mining Division of Canada, Ottawa Department of Mines, 306p.). Recent work by the Company has identified new conductors on the southeastern portion of the property in close proximity to the historic Walker Graphite mine. Similar geology is shared throughout the area and follow-up EM surveys and drilling are planned to test these highly anomalous areas.
About Caribou King Resources
Caribou King Resources Ltd. (TSX VENTURE:CKR) is a publicly-traded, Canadian junior exploration company that holds a portfolio of highly prospective graphite projects. These include: TAC in Quebec with historic drilling including 9.86% Cgf over 46.75 meters; Lac Vert in Quebec with graphite intersections in three historic drill holes; Buckingham that is located 750 meters west of the historic Walker Graphite Mine and Montpellier which is located in Quebec and hosts graphite mineralization in a zone 15 meters wide exposed through historical drilling and trenching over a strike length of 250 meters. Caribou is advancing these projects through multiple active exploration programs now underway.
On Behalf of the Board of Directors
CARIBOU KING RESOURCES LTD.
"Michael England", CEO and Director
"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."
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
