Caribou Discovers New Graphite Zone at Buckingham
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 14, 2015) - Caribou King Resources Ltd. ("Caribou" or the "Company")(TSX VENTURE:CKR)(OTCBB:CBULF) is pleased to announce the discovery of a new graphite-bearing zone at its 100% owned Buckingham Graphite property in southern Quebec.
A crew was mobilized in early May to follow up on historic airborne electromagnetic anomalies located in the northern portion of the Buckingham property. A limited Beep Mat electromagnetic (EM) survey was carried out, accompanied by mapping and sampling, with assay results pending. The Beep Mat tool is a miniaturized electromagnetic survey instrument that detects conductive subcrops up to 3m below surface.
The new discovery (the "Case Zone") was identified in the northern portion of the property. The zone measures at least 900m along strike and up to 350m wide, as indicated by graphite-rich showings, pits, and EM anomalies, and remains open on all sides. Several former pits were encountered in this zone, with some exhibiting broad horizons of large-flake disseminated and chunk-style graphite visually estimated up to 30-40%. The largest excavation measures approximately 7 metres wide by 15 metres long and 4 metres deep. This excavation appeared as a borrow pit, although it was located directly over a historical airborne geophysical anomaly. The Case Zone appears to trend northeast but further geophysical surveys will be needed to better define this newly discovered zone.
A substantial number of samples were taken, mostly containing significant proportions of large-flake graphite (visually estimated up to 20-40% in several samples). The samples have been sent to SGS Canada Inc. (Lakefield) for assay and the Company is currently awaiting results.
Michael England, CEO and Director states: "This new Case Zone discovery further demonstrates that Graphite mineralization at our Buckingham property is not restricted to the previously announced high grade Uncle Zone discovery in the southeastern portion of the property. Initial sampling at Buckingham has returned some of the highest assay results reported in Quebec to date and continues to yield exciting new discoveries as exploration progresses."
Mineralization at the Case Zone appears to be structurally complex, with disseminated large-flake graphite mineralization primarily hosted along the contact of sub-horizontally dipping marble/paragneiss horizons with chunk-style large-flake graphite occurring where the horizon is cross-cut by narrow, steeply dipping brecciated structures. Upcoming drilling at Buckingham will be most effective at defining the orientation of the mineralized horizons.
See http://www.caribouking.com/ for maps and more information.
The technical contents of this release were approved by Mr. Case Lewis, P.Geo. and a Qualified Person as defined by National Instrument 43-101.
About Caribou Kind 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 (Quebec), with historic drilling including 9.86% Cgf over 46.75 meters (Drillhole 90-44); Lac Vert (Quebec), host to graphitic intersections in several historic drill holes; Buckingham (Quebec), located 750 meters west of the historic Walker Graphite Mine and Montpellier. Caribou is working to advance these projects through multiple active exploration programs which are currently underway.
For more information, visit the website at www.caribouking.com.
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).
Contact
Caribou King Resources Ltd.
Michael England
CEO and Director
(604) 683-3995
info@caribouking.com
www.caribouking.com
