Caribou King Looking to Consolidate Buckingham Property Area

Caribou King Resources Ltd. (TSXV:CKR) announced that it has signed a letter of intent (LOI) with Cavan Ventures Inc. (TSXV:CVN) regarding a potential joint venture for 24 claims attached to the northern boundary of Caribou’s Buckingham property.

As quoted in the press release:

Grab samples on Cavan’s have returned values as high as 86.5% Corg with flakes over 5mm in diameter (see CVN press release dated July 8, 2014).

Cavan’s Buckingham property consists of 24 claims located in Ranges VIII and IX, Buckingham Township, Quebec and covers an area of 1,682.8 hectares (4,157 acres). Cavan’s Buckingham property is 1.7 kilometers north of the historic Walker graphite mine and covers the northern extension of a graphite zone on Caribou’s Buckingham property. A helicopter-borne magnetic and time-domain electromagnetic survey confirmed a historic conductor, and further resolved a second parallel conductor to a length of 300 meters (see news release September 24, 2013). Two airborne geophysics programs were performed showing massive anomalies plus six graphite-rich zones in trenches on the claims followed up on these airborne anomalies.

Mike England, president of Caribou, commented: 

This LOI is a first step for Caribou in our goal to consolidate land in this very rich graphite region.

Click here to read the full Caribou King Resources Ltd. (TSXV:CKR) press release.