US-listed mineral exploration company American Graphite Technologies (AGIN) has acquired a 100% stake in 100 graphite claims in the Province of Quebec, Canada.
The agreement of acquisition for the claims covering 5,400 hectares has no royalty or NSR attached to the property.
Commenting on the developments AGIN CEO Rick Walchuk stated that the acquired claims with well -established infrastructure would boasts company’s potential for the development of mining operations.
"I am comfortable that this graphite property acquisition will add to shareholder value once we can undertake initial exploration and development work on the property," added Walchuk.
The property is reported to be underlain by rocks of Granville Province and Archean basement along with similarities with neighboring graphite deposits.
"American Graphite Technologies is seeking to secure North American graphite mining opportunities along with the commercialization of graphene specific proprietary technology methods to maximize shareholder value," said the company in a statement.