Canada Carbon Defines 11 Priority Targets and 82 Secondary Targets on the Miller Mine Property
May 8th, 2014, Vancouver, BC, Canada – Canada Carbon Inc. (the “Company”) (TSX-V: CCB) is pleased to announce that following the completion of the 494 page (including appendices) technical report on its Miller Mine graphite property it has completed compilation of available technical data on the property to determine a list of 11 priority targets and 82 secondary targets of significance that will be worked on during the coming exploration program.
The selection of targets on both blocks of claim was based on many criteria including: structural interpretation based on magnetic tilt-angle derivative, dB/dt Calculated Time Constant (Tau) and dB/dt Z Component channel 26 (Time Gate 0.505 ms) from the VTEM survey, PhiSpy anomalies, initial geophysical work performed in May 2013 and geological maps.
Structural interpretation from the magnetic maps from The VTEM survey generated many linear features that could correspond to lithological contact or faulting. Both features are highly favorable contexts for intrusion of pegmatite or for the passage of hydrothermal fluids and gases toward surface. Conductive anomalies found in the area of those structural features can correspond to accumulation zones of conductor minerals such as graphite or sulphides and fit well with the model developed by Canada Carbon for its Miller Mine mineralization. Comparison with topography was also made to determine possible areas where silicification processes occurred as silicified rocks can be more resistant to erosion. Also, since some of the targets cross the access roads through the property, a significant amount of information can be obtained by simple prospecting along those roads.
Prospecting and beep mat surveying will be carried out on all of the priority and secondary targets in Phase 1 of the work program. Phase 2 will cover all priority targets with ground IP surveying to better define conductor locations. Local ground EM surveys covering IP anomalies and including any Phase 1 discoveries will detect any near surface mineralization that will be further assessed by trenching during Phase 3. Deeper targets and extensions of surface showings will be sampled by drilling during Phase 4.
Executive Chairman and CEO Mr. R. Bruce Duncan stated, “The definition of priority targets using all of the available technical data on both blocks of the property will allow the Company to immediately focus on the most prospective zones within the 25 km2 covered by VTEM aerial geophysics and to spend exploration money where the potential for discovery is highest. The verification of the various anomalies will generate much more information that can be applied to define additional exploration targets not only within the VTEM surveyed blocks, but also thereafter on other parts of the significantly expanded land package assembled by Canada Carbon in recent months.”
Dr. Charbonneau, Ph.D., P. Geo #290 (an Associate of Inlandsis Consultants s.e.n.c.) is an Independent Qualified Person under National Instrument 43-101, and has reviewed and approved the technical information provided in this news release.
CANADA CARBON INC.
CEO and Director
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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).