Zenyatta Provides PEA for Albany Graphite Project

Zenyatta Ventures Ltd. (TSXV:ZEN) announced the results of a PEA, prepared by RPA Inc. in Toronto with mill design input from SGS Canada Inc., on the Albany graphite project in Northern Ontario, Canada.

As quoted in the press release:

RPA proposes a 22 year, open-pit mine with a processing plant located on site which generates a strong annual cash-flow and high rate of return. The PEA indicates that the Albany graphite project has excellent potential to be a low-cost source of high purity graphite without the use of dangerous and environmentally harmful hydrofluoric acid (as in china) or costly thermal upgrading (as in synthetic graphite derived from petroleum coke.

Aubrey Eveleigh, president and CEO at Zenyatta, stated:

The Company is exceptionally pleased with the strong PEA results presented by RPA and will now proceed to a pre-feasibility stage where further project definition and optimization is excepted. This is a very important milestone for zenyetta that started with the discovery of a rare graphite in 2011 and has now gained global recognition for its unique purity and crystallinity. Zenyatta’s early stage study has resulted in extremely encouraging economics that will support discussions with potential strategic partners and financiers.

Click here for the full Zenyatta Ventures Ltd. (TSXV:ZEN) press release