Berkwood Provides 2014 Exploration Summary and 2015 Plans
Berkwood Resources Ltd. (TSX-V: BKR) (“Berkwood” or the “Company”) is pleased to provide the following corporate update:
Highlights for 2014:
The Company achieved many goals in 2014 and is looking forward to further significant developments in 2015. 2014 was a challenging year for junior exploration companies but Berkwood has persevered and is positioned to capitalize on the positive developments of the past year. Prospect Valley: At our flagship project, the Prospect Valley Gold Property, 2014 field work extended the main Discovery Trend gold structure an additional 1200m to the south and discovered a new area of epithermal gold mineralization named the QCA Zone. The 100% owned property is located 30 kilometers southwest of Merritt, British Columbia, a three hour drive from Vancouver, and covers 10,871 hectares. It encompasses a number of structurally controlled epithermal gold prospects with potential to host both bulk tonnage and high grade vein deposits. The majority of historical drilling on the Prospect Valley property has taken place in the centre of the claim block, along the Discovery Trend. This drilling outlined an extensive low grade epithermal gold system with indications of potential for additional and higher grade mineralization, and it remains open for expansion (see Berkwood news release dated January 25, 2012 for details). Results of the 2014 ground magnetics geophysical survey suggest that the Discovery Trend continues a further 1200m to the south of the previous work into the QCA area that is largely hidden by overburden soil cover. Prospecting was carried out in 2014 in conjunction with the geophysical survey and despite the extensive overburden cover, the QCA Zone of scattered epithermal-textured quartz-chalcedony veins was discovered in bedrock and overburden boulders along this new geophysical trend. Berkwood is planning a 2015 program of geological mapping, hand trenching and sampling in the new QCA Zone to delineate the zone on surface, as well as additional ground magnetics surveying to infill and extend the current geophysical grid. Berkwood will be showcasing the Prospect Valley Gold Property at the 2015 Mineral Exploration Roundup Conference in Vancouver. The Roundup Conference, organized by the Association of Mineral Exploration BC, is the world's premier technical mineral exploration conference. Lac Guéret South and East: Berkwood continues to advance its 100% owned graphite projects in Quebec and is pleased with the progress made in 2014. Highlights include the acquisition of the Lac Guéret South Graphite Property and adjustments made to the mineral claims package of the company’s Lac Guéret East Graphite Property, in order to maximize coverage of priority geological structures and known graphite prospects. Berkwood’s Lac Guéret area projects now cover 8,057 hectares. In 2014 Berkwood retained the services of geologist consultant, Alain Berclaz, P. Geo and CEO of ABGéoconseil Inc. to lead the fieldwork program. The Lac Guéret South Graphite Property borders the southern boundary of Mason Graphite’s Lac Guéret Project which has a NI 43-101 compliant mineral resource estimate with measured & indicated mineral resources of 65.7 million tonnes grading 17.2% Cgr (including 9.7 million tonnes grading 31.2% Cgr)*. Berkwood’s Lac Guéret East Graphite Property is adjacent to the eastern boundary of Mason Graphite’s Lac Guéret Property. Berkwood’s Lac Guéret East and South Graphite Properties share a similar geological environment to Mason Graphite`s Lac Guéret Property including along strike stratigraphic units and structures. From his summer 2014 field observations, Mr. Berclaz recommended a high resolution magnetic-electromagnetic (MAG-EM) helicopter-borne geophysical survey over the Lac Guéret South Property to rapidly advance the project. In October 2014 Prospectair Geosurveys Inc. of Gatineau, Quebec flew the survey which comprised 413 linear kilometres with a line spacing of 200 metres. Preliminary results show that the survey delineated an electromagnetic (EM) anomaly along a 1.8 kilometre trend, including a large circular conductive anomaly with a diameter of approximately 900 metres. Additional targets defined by the survey, include a strong conductor, 3 km in length, situated at the Property’s northern border with Mason Graphite’s advanced Lac Guéret Property. These newly generated exploration targets increase Berkwood’s confidence that there is significant potential to discover new graphitic zones associated with these anomalies. Berkwood is planning a follow-up ground geophysics program to better define the conductors on the ground in order to guide prospecting, trenching and drilling planned for the 2015 field program. Graphite Outlook: Graphite is now considered one of the more strategic elements by many leading industrial nations. The applications for graphitic material is constantly evolving due to its unique chemical, electrical and thermal properties. Some of these key physical and chemical properties make it critical to modern industry. There has been an escalation in the use of graphite in clean energies such as lithium ion batteries and fuel cells, which power hybrid and electric vehicles. Analyst Simon Moores of Benchmark Minerals, London recently noted “Global battery production is expected to receive a turbo boost in the next three years as some of the world’s biggest corporations and disruptive technology companies prepare major entries into the market. Tesla Motors, LG Chem and Foxconn Technology Group are all constructing what can be described as battery super-plants for the electric vehicle (EV) market.”
- New gold zone discovered at Prospect Valley
- Extension of the Discovery Trend gold structure over 1200m at Prospect Valley
- Acquisition of second Graphite property
- Significant targets identified at Lac Guéret South Graphite Property
“Total investment from all three companies is expected to top $5bn and could reach as high as $7bn as they vie for a leading position in a major new global industry.”
“These plans will have a significant impact on the raw materials fuelling the three megafactories, graphite, lithium and cobalt especially, as will the additional growth in the EV battery market which is expected to range, in Benchmark's conservative estimates, from 10-15% a year.”
“The industry will need to be prepared for a raw material surge in 2016 as buying starts for these three plants in what could be a significantly disruptive event.” George Gorzynski, P.Eng., a Director of Berkwood and a Qualified Person under the definition of Canadian National Instrument 43-101, approved the geological information in this new release.
For full details on any of Berkwood’s 2014 news referred to in this news release please visit www.berkwoodresources.com/news or go to www.sedar.com. If you are not currently on the Berkwood Resources email list, please visit our website by clicking here to opt-in to the list. The Company will send out regular updates and news releases to everyone who asks to be on the list. For additional information please contact: Karim Sayani, Corporate Communications Tel: (604) 662-7455 E-mail:
Tom Steer, Corporate Development Tel: (604) 681-7455 E-mail:
On Behalf of Berkwood Resources Brian Buchanan, President and Director This Berkwood News Release contains certain "forward-looking" statements and information relating to Berkwood that are based on the beliefs of Berkwood's management as well as assumptions made by and information currently available to Berkwood's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitation, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. Except as required by law, Berkwood does not assume the obligation to update any forward-looking statement. *The Mason Graphite NI 43-101 mineral resource estimate was sourced from the Mason Graphite news release dated December 15, 2014. The Qualified Person has been unable to verify the information contained within the Mason Graphite news release and the mineralization on the Mason Graphite property is not necessarily indicative of the mineralization on the Company’s property.
Neither the 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 news release.