Berkwood Resources Ltd (CVE:BKR) (OTCMKTS:CZSVF) hailed promising results Tuesday from its phase four drilling program at its Lac Gueret South deposit in Quebec, underlining its suitability for graphite extraction.
"I am very pleased to announce the successful completion of the fourth phase of drilling with all four phases combined totalling over 6,000 metres now. The Berkwood team is also pleased to announce that we have drilled a 158.13-metre intersection of graphite mineralization in hole 42 and 102.45 meters in hole 35. We are continuing to unravel the structural and geological disposition of the Lac Gueret South Zone 1 graphite body," said president and CEO Tom Yingling in a statement.
Lac Gueret South is located in Cote Nord, eastern Quebec, and comprises 288 claims, which cover a total area of 15,552 hectares.
According to the Vancouver-based firm, the drilling in phase four focused on expanding knowledge in and adjacent to the previously drilled areas.
Berkwood drilled 16 new NQ diameter diamond core holes for 2,078 m (meters). Of the 16 holes drilled, 13 intersected significant mineralization with one hole having 22.2% continuous graphite (Cgr) over 102.45m, with a high sample grade of 33.88%.
According to the company, during the program, several shallow subcrops of highly graphitic bedrock were exposed and sampled. A channel sample composite over 43 metres returned an average grade of 24.17% graphite.
Aim to advance focused and efficient program
The company said the intersection of multiple wide intercepts continues to encourage it to advance the Lac Gueret South project as rapidly as possible.
"We are continuing to unravel the structural and geological disposition of the Lac Gueret South zone 1 graphite body, so we continue the exciting but painstaking work required as Berkwood endeavours to chart a focused and efficient program to define the potential for an economic resource," said Yinling. "Field crews performed detailed structural logging and analysis of previous drill core. Once complete, we will add this information to our 3-D model of our graphite body, providing a clearer, more detailed picture of the size and geometry of the southwestern portion of our zone 1 graphite body. We are making progress in stages and continue with each successive phase to build on the great results we have enjoyed since discovery."
Shares of Berkwood were at C$0.08 on Tuesday.
Contact Katie Lewis at [email protected]