ZEN Zentek Ltd

Zenyatta Ventures Ltd. ("Zenyatta" or "Company") (TSX VENTURE:ZEN) is pleased to
announce the engagement of Roscoe Postle Associates Inc. ("RPA") to conduct a
Preliminary Economic Assessment ("PEA") on the Company's 100 percent owned
Albany graphite deposit located in northeastern Ontario, Canada.


RPA will prepare a Scoping Study that will meet the requirements of a PEA under
CIM Standards - Definitions and Guidelines as referred to in NI 43-101 and Form
43-101F1 - Standards of Disclosure for Mineral Projects in effect. The technical
data for the study will include among other items: mining, metallurgy and
processing, infrastructure, environment, manpower, marketing, life of mine plan
and execution plan.


Recently, RPA estimates showed Indicated Mineral Resources delineated to date
total 25.1 million tonnes ("Mt") at an average grade of 3.89% graphitic carbon
("Cg"), containing 977,000 tonnes of Cg. In addition, Inferred Mineral Resources
delineated to date are estimated to total 20.1 million tonnes at an average
grade of 2.20% Cg, containing 441,000 tonnes of Cg.


Aubrey Eveleigh, President and CEO stated, "We are very pleased to engage RPA as
an independent consultant to complete a Preliminary Economic Assessment ("PEA")
on our graphite deposit. Zenyatta felt it was very important to maintain project
continuity and therefore selected RPA based on their knowledge of this unique
graphite project and the strength of their team. This first phase study is a
preliminary evaluation of the economics related to the Albany graphite deposit
and we expect it to be completed in the second quarter of 2014."


RPA, based in Toronto, is a group of technical professionals who have provided
advice to the mining industry for over 30 years. During this time, RPA has grown
into a highly respected organization regarded as the specialty firm of choice
for resource and PEA work. RPA provides services to the mining industry at all
stages of project development from exploration and resource evaluation through
economic assessment. Their portfolio of clients includes exploration/mining
companies, banks, governments, law firms, institutional investors, individual
investors, and private equity ventures.


The global trend in graphite markets is to develop products for technological
applications that require extraordinary performance using ultra-high purity
graphite powder at an affordable cost. High purity is gaining prominence at a
time when Zenyatta discovered a very rare (hydrothermal) graphite deposit, which
can be upgraded to 99.99% carbon without the use of aggressive acids like
hydrofluoric (HF) and high thermal treatment.


The outlook for the global graphite market is very promising with demand growing
rapidly from new applications. It is now considered a strategic commodity by
many industrial nations, particularly for its growing importance in high
technology manufacturing and in the emerging "green" industries such as electric
vehicle components and energy storage. The application for graphitic material is
constantly evolving due to its unique chemical, electrical and thermal
properties. It maintains its stability and strength under temperatures in excess
of 3,300 degrees C and is very resistant to chemical corrosion. It is also one
of the lightest of all reinforcing elements and has high natural lubricating
abilities. Some of these key physical and chemical properties make it critical
to modern industry.


Zenyatta's Albany (Hydrothermal) Graphite Deposit is located in northeastern
Ontario, Canada approximately 30 km north of the Trans-Canada Highway, power
line and natural gas pipeline near the communities of Constance Lake First
Nation and Hearst. A rail line is located 70 km away with an all-weather road
approximately 4-5 km from the graphite deposit. The deposit is near surface,
underneath glacial till overburden and a thin veneer of Paleozoic sedimentary
cover rocks.


Mr. Aubrey Eveleigh, P.Geo., President & CEO of Zenyatta is a "Qualified Person"
under NI 43-101 and has reviewed the technical information contained in this
news release. To find out more on Zenyatta Ventures Ltd., please visit website
www.zenyatta.ca.


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.


This news release may contain forward looking information and Zenyatta cautions
readers that forward looking information is based on certain assumptions and
risk factors exist that could cause actual results to differ materially from the
expectations of Zenyatta included in this news release. This news release
includes certain "forward-looking statements", which often, but not always, can
be identified by the use of words such as "believes", "anticipates", "expects",
"estimates", "may", "could", "would", "will", or "plan". These statements are
based on information currently available to Zenyatta and Zenyatta provides no
assurance that actual results will meet management's expectations.
Forward-looking statements include estimates and statements with respect to
Zenyatta's future plans, objectives or goals, to the effect that Zenyatta or
management expects a stated condition or result to occur, including the expected
timing for release of sample analyses and a preliminary economic assessment, the
expected uses for graphite in the future, and the future uses of the graphite
from Zenyatta's Albany deposit. Since forward-looking statements are based on
assumptions and address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Actual results relating to, among
other things, results of exploration, project development, reclamation and
capital costs of Zenyatta's mineral properties, and Zenyatta's financial
condition and prospects, could differ materially from those currently
anticipated in such statements for many reasons such as: changes in general
economic conditions and conditions in the financial markets; changes in demand
and prices for minerals; litigation, legislative, environmental and other
judicial, regulatory, political and competitive developments; technological and
operational difficulties encountered in connection with Zenyatta's activities;
and other matters discussed in this news release and in filings made with
securities regulators. This list is not exhaustive of the factors that may
affect any of Zenyatta's forward-looking statements. These and other factors
should be considered carefully and readers should not place undue reliance on
Zenyatta's forward-looking statements. Zenyatta does not undertake to update any
forward-looking statement that may be made from time to time by Zenyatta or on
its behalf, except in accordance with applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Zenyatta Ventures Ltd.
807-346-1660
info@zenyatta.ca
www.zenyatta.ca

Zentek (TSXV:ZEN)
Historical Stock Chart
From Nov 2024 to Dec 2024

Zentek (TSXV:ZEN)
Historical Stock Chart
From Dec 2023 to Dec 2024