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Berkwood Resources hails maiden resource at its Lac Gueret South graphite project

The estimate is for Zone 1 at the graphite project and uses results from drilling campaigns in 2017 and last year

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Berkwood said the project shows substantial resources and robust recoveries

Berkwood Resources Ltd (CVE:BKR) (OTCMKTS:CZSVF) revealed Tuesday that a maiden resource for its Lac Gueret South project in Quebec shows substantial resources and potentially robust recoveries.

The estimate is based on Zone 1 at the graphite project and uses drilling campaigns in 2017 and last year for 6,232.49 meters and surface trench samples over 77 meters.

READ: Berkwood Resources poised for surface sampling at Lac Gueret South graphite project

In the higher confidence indicated category, there are 299,200 tonnes of graphite at 17% from 1.76 million tonnes of material.

Meanwhile, in the inferred category, the study shows 250,200 tonnes at 16.4% graphite from 1.53 million tonnes.

"The results of the initial resource estimate and metallurgical test work demonstrate that the Zone 1 deposit as tested to date has substantial resources and robust recoveries, subject to further testing," said Edward Lyons, Berkwood's project lead.

"The deposit has not been closed off in the lateral extents and the several geophysical surveys suggest that the shallower mineralization continues around the western fold hinge," he highlighted.

Lyons added that the strike length had the potential to significantly increase resources with future development drilling, while the Zone 2 target, now in early exploration stage, may also add mineralization.

Tom Yingling, CEO at Berkwood said the maiden resource milestone means the firm can start the process of permitting forest logging in the area to allow for stripping and bulk sampling at surface.

Allows plans to move forward

"This resource presents sufficient size and grade for the company to move forward with immediate next step plans, as this maiden resource compares favorably with other developed and in-development projects," said Yingling. "We are confident Lac Gueret South will figure into the emerging Lac Gueret graphite production camp in the near future."

Yingling said the compnay's exploration and metallurgical work has received 'enthusiastic support' from its investors and financiers.

"We will immediately embark upon a program of resource expansion in the local area," said Yingling. "We will immediately refine our current resource and increase our knowledge on the quality and size of the deposits we can expect for eventual customers."

Last week, Berkwood revealed it was planning to move crews by mid-July to Lac Gueret South to locate and test nearby zones, which are comparable to the Zone 1 graphite occurrences, where the firm identified two distinct electromagnetic conductors from airborne geophysics.

In a production scenario, these near surface deposits would potentially be able to feed a future, centrally located processing facility, the company said in a statement.

Berkwood shares in Toronto were unchanged at $0.05.

Contact the author at [email protected]

Follow him on Twitter@Gile74

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Price: 0.025 CAD

TSX-V:BKR
Market: TSX-V
Market Cap: $1.59 m
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