Berkwood Resources Ltd.’s (TSXV:BKR) successful drilling program hit graphite mineralization in all 13 holes at its Lac Gueret property in Quebec
Angela Harmantas | October 27, 2017 | SmallCapPower: Berkwood Resources Ltd. (TSXV:BKR) is closing out the year with a bang after announcing positive drill results and a new acquisition in its quest to become a breakout company in the high-tech metals space.
The successful drilling program hit graphite mineralization in all 13 holes at its Lac Gueret property in Quebec. Located directly adjacent to Mason Graphite’s soon-to-be high-grade graphite mine, Berkwood’s CEO, Thomas Yingling, was confident that the geology would extend to their property. Even so, the team conducted extensive geophysics before drilling to de-risk the property as much as possible.
“In the exploration game you’re lucky if you hit one good hole,” said Mr. Yingling. “We just drilled nine holes and we hit in every single hole. I consider graphite to be the new ‘Black Gold’.”
The economics for graphite to be at surface is extremely important. The deposit is more economical with less waste rock that has to be removed, and the cost per ton decreases dramatically. “We found visible graphite in every single hole, right at surface,” said Mr. Yingling. “The premise of the entire play is that Mason’s massive deposit trends onto our property.”
Berkwood’s management team is intimately familiar with Mason’s project. Ed Lyons, who leads the exploration team at Berkwood Resources, played a key role in discovering Mason’s Lac Gueret project.
“I feel very enthusiastic about the property because it has a lot of the parameters that we see in successful graphite properties in the area, particularly Mason’s,” said Mr. Lyons in a video on the Company’s website. “We’re in the same geology and subject to the same geological conditions that form the recrystallization. There is visual evidence that the styles are very much the same between the two areas. Mason can’t be the only show in town.”
Buoyed by its success, Berkwood Resources is about to embark on its Phase Two drill program at Lac Gueret. While the initial drilling concentrated on the western part of the project, this new phase will encompass the rest of the property. Berkwood Resources recently raised over $1 million to fund this new round of drilling.
The drill program is not the only thing keeping Berkwood Resources busy.The Company recently acquired a new vanadium property in Quebec, in line with its ambition of including vanadium in its portfolio of the essential energy storage commodities. “These minerals are extremely specialized,” explained Mr. Yingling. “We foresaw the lithium boom happening, and after that we had to think, what’s next? If we wanted to stay within battery metals, it was vanadium.”
Berkwood Resources set out to find a good vanadium asset in Quebec, the location of their graphite property. Vandium, like lithium and graphite, is an essential component of high-performance batteries.
Ultimately, Berkwood’s end game is to be taken over by a major interested in their industrial minerals projects. “The premise of our play is to copy what Mason has done on their property,” said Mr. Yingling. “Our technical team is the exact same group that discovered Mason’s Lac Gueret. We’re not going to do anything differently. Our team won’t be the ones sitting on stage with politicians and cutting ribbons with big scissors – we are the ones that sell it to those guys. We increase shareholder value by developing projects to a point when someone like Mason or another group comes in to buy it at a much higher price than we are at now, so our shareholders benefit immensely before we move on to the next one.”
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