Caribou King Receives TSXV Approval for Aukam Mine Investment

Caribou King Resources Ltd. (TSXV:CKR) announced that the TSX Venture Exchange has granted it approval to acquire an initial 63-percent interest in Next Graphite Inc.’s (OTCMKTS:GPNE) Namibia-based Aukam graphite mine.
As quoted in the press release:

The property hosts three underground adits which were mined periodically between 1940 and 1974 and produced a recorded total of 26,740 tonnes of lump graphite.
A program to obtain a 25 tonne bulk sample of graphite from one of three existing adits at Aukam has recently been completed. The high-quality, vein-type graphite (also known as lump graphite) extracted during the bulk-sampling program is now being tested for quality and purity. The test will further define the characteristics of the material and its suitability for value added manufacturing applications. Aukam graphite is hosted within a shear zone in which underground mine workings still show well-mineralized structures that are believed to continue down-dip.
Infrastructure at the Aukam Graphite Mine is good, with access to the site possible throughout the year. The site is relatively close to a main tar road and the national power grid passes two kilometres from the property. Water is available in large amounts from underground aquifers with an old pump station at the foot of the mountain which previously supplied mine operations.

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