August 22, 2019 – Berkwood Resources Ltd. (TSX-V: BKR; FSE: BR2N) is pleased to announce TSX-V approval has been granted to the Company acquiring six (6) selected groups of claims consisting of 58 claims covering 3,116 Ha adjacent to its Lac Guéret South project. The Company now holds a 100% interest in the property. These six groups of claims occur either directly adjacent to or within a few kilometers of Berkwood’s existing claims, and each has either known graphite showings or geological extensions of known graphite bearing formations over which geophysical conductive anomalies have been surveyed.
Consideration for the acquisition of the new claims comprised the payment to the Vendors of $11,500 and the issuance of 1,950,000 common shares.
Lac Guéret South Property, Quebec
Lac Guéret South is located in Cote Nord, Quebec, a three hour drive from Baie-Comeau in an area of very good infrastructure. The Project directly borders Mason Graphite’s (TSX-LLG) advanced Lac Guéret Project to the South. With a market capitalisation of over $40 million Mason owns one of the largest high grade graphite deposits in the world and is planning on building a new graphite mine and processing plant.
Lac Guéret South’s Zone 1
Two distinct electromagnetic conductors appear to occur over a two kilometer length and 50 meters to 600 meters in width as defined by airborne EM geophysics (see the Berkwood news release dated February 10, 2015). The western part of this zone was further defined by ground VLF and EM surveys: four VLF and 22 contiguous PhiSpy EM conductors have been detected over an apparent 800 meters length and up to a 300 meters width. This western area is now recognised to comprise a significant graphite zone interlayered within the hinge of a complex fold. The apparent fold limbs thin to some 50 meters in width further to the east.
Four separate drill programs have been executed on the western extent of Berkwood’s Zone 1 Graphite Body for a total of 45 holes and 6,091.7 m completed between August 2017 and December 2018. One hole of 6.1 m was incorrectly collared and did not intersect graphite. The Company intersected visual Graphite in every other hole drilled (44), with significant Cgr (Carbon as graphite) intercepts being observed in 41 holes. These programs have provided the data and assays for completion and announcement of an in-pit constrained resource totalling 1,755,300 tonnes of indicated resources at 17.00 % Cgr and 1,526,400 tonnes in inferred resources at 16.39 % Cgr (refer NR of June 16th, 2019).
The Company also announces it has closed a private placement as to the issuance of 600,000 common share at $0.05. The use of proceeds will be for working capital. No finder’s fee was paid. The shares will be issued having a four month plus one day hold period.
About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon the ethical mining and supply of naturally occurring elements and minerals that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components for the new suite of innovative tools. The Company is led by a team with collectively over 100 years experience and whose members have been involved with the discovery of several producing mines.
On Behalf of the Board of Directors
Berkwood Resources Ltd.
Signed: “Thomas Yingling”
President, CEO & Director
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.
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.