Berkwood Resources Expands Lac Gueret Extensions Project

The company has acquired an additional 295 claims in the area, bringing its previous total of 73 claims up to 368 claims.

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Berkwood Resources (TSXV:BKR) announced on Wednesday (September 6) that it has substantially expanded its Quebec-based Lac Gueret Extensions graphite project. 

In a press release, the company said it has acquired an additional 295 claims in the area, bringing its previous total of 73 claims up to 368 claims. The 368 claims cover 19,884 hectares, up from 3,942 hectares.

Ninety-five of Berkwood’s new claims were gained via staking, while the other 200 were purchased from Francois Marcotte, an area prospector. The claims are located adjacent and on trend with Mason Graphite’s (TSXV:LLG) Lac Gueret graphite project.

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Mason Graphite recently announced that Lac Gueret is in the final stage of the permitting process. Property owned by Focus Graphite (TSXV:FMS) is also located in close proximity to the Lac Gueret and Lac Gueret Extensions projects. A map of the area can be found here.

The Lac Gueret Extensions project is made up of a South block and an East block. Berkwood has a 100-percent interest in the East block, and has the option to obtain a 100-percent stake in the South block.

In Wednesday’s news release, Berkwood also provides results from three new holes completed at the South block, noting that since the program began in mid-August, 10 holes have been completed for a total of 1,360 meters. “Visual graphite has been intersected and confirmed in all ten to date,” says the company. Six more holes are planned.

Work is taking place in Zone 1 at the South block, where two distinct electromagnetic conductors appear to occur over a 2-kilometer strike length. Well-developed targets are also present in Zone 2 at the block.

In addition to the Lac Gueret Extensions project, Berkwood holds the Cobalt Ford cobalt project and the Delbreuil lithium project, both of which are located in Quebec. The company’s overall focus is on finding resources for 21st-century technology.

At close of day Thursday (September 7), Berkwood’s share price was sitting at $0.50. Its share price is up 21.95 percent in the last month.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Berkwood Resources and Focus Graphite are clients of the Investing News Network. This article is not paid-for content. 

"Did you know graphite is as tough as diamonds, but its unique structure makes it light, soft, and highly resistant to heat as well?"

Find out everything an investor needs to know about graphite investing. Click below to download a FREE industry report on the graphite market.
 

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"Did you know graphite is as tough as diamonds, but its unique structure makes it light, soft, and highly resistant to heat as well?"

Find out everything an investor needs to know about graphite investing. Click below to download a FREE industry report on the graphite market.
 
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