Canadian International Minerals Inc. (CIN-TSX.V) Updates Miller Graphite Project near the Albany discovery
26 August 2013 - 11:34PM
Access Wire
Canadian International Minerals Inc. (the "Company" "CIN") is
pleased to announce that it has located the historic Miller
graphite vein in the emerging graphite exploration play centred on
the Albany Graphite Project of Zenyatta Ventures Ltd. in Northern
Ontario.
The Company currently owns 50% of the
property, with an option to increase its interest to 100% under an
agreement with the staking syndicate. The property is accessible by
forestry roads, and further evaluation is being planned in light of
increased interest in the Albany hydrothermal graphite discovery.
The property, which includes the Miller graphite occurrence, is
located in the Foch Township, and consists of a single claim,
extending over 15 located units, with an aerial extent of 240
hectares. The claims were staked in May 2012, prior to the recent
land acquisitions in the vicinity (CIN news release dated May 1,
2012).
The Miller graphite showing is described
in a report of the Ontario Geological Survey by Lorne Luhta, M.Sc.,
and is included in the 1989 Report of the Timmins Resident
Geologist:
Samples of graphite
collected by the Timmins Resident Geologist staff returned analysis
of 30.4% and 30.3% carbon. Flake size averages 1 millimetre but
some flakes up to 3 millimetre. The sample may have the potential
of producing high grade flakes in the minus 300, plus 150 micron
fraction.
The underlying geology consists of an
east west striking sequence of quartzites and gneisses. Interbedded
with the gneisses are graphite rich beds of medium grained granular
textured quartzites.
The historic showings, and new,
previously undocumented graphite occurrences coincident with
resistivity low airborne geophysical anomalies (OGS Map 60-028,
2001), have been located by the syndicate. Recent samples of the
vein have been processed by a major private graphite producer.
Initial results confirm the occurrence as described by the Ontario
Geological Survey.
The technical data in
this news release has been reviewed by Thomas Hasek, P. Eng. a
Qualified Person under the terms of N.I. 43-101.
On behalf of the Board of
Directors,
"Michael E.
Schuss"
Michael E. Schuss
President and Chief Executive Officer
For further
information on Canadian International Minerals Inc., please visit
the company website at www.cin-v.com/miller , or contact
Michael Schuss at (604) 241-2254.
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.
CAUTION
CONCERNING FORWARD-LOOKING STATEMENTS: Some of the statements contained herein may be
forward-looking statements which involve known and unknown risks
and uncertainties. Without
limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of
the Company are forward looking statements that involve various
risks. The following are important factors that could cause the
Company's actual results to differ materially from those expressed
or implied by such forward looking statements: changes in the world
wide price of mineral commodities, general market conditions, risks
inherent in mineral exploration, risks associated with development,
construction and mining operations, the uncertainty of future
profitability and the uncertainty of access to additional capital.
There can be no assurance that forward-looking statements will
prove to be accurate as actual results and future events may differ
materially from those anticipated in such statements. Canadian
International Minerals Inc. undertakes no obligation to update such
forward-looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to
place undue reliance on such forward-looking statements
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