Caribou King Resources has started drill program at its 100%-owned Mulloy graphite project, located 10km west of the Zenyatta Ventures’ Albany graphite project in Ontario, Canada.

To complete an initial 2,000m core drilling program, Caribou deployed drillers Acklo Diamond Drilling (Timmins, ON) to confirm historic drilling by Shell Canada Resources, which encountered 90% visual graphite over 38.46m on its Mulloy graphite project.

Caribou King Resources entered into an agreement with Constance Lake First Nations to continue exploration at Mulloy project, earlier this week.

Caribou King Resources CEO and director Michael England said the company is planning multiple drill programs for portfolio of highly prospective graphite properties throughout 2014.

"We are drilling into a high grade historic graphite discovery by Shell Canada as well as multiple high priority EM conductors in a camp that is surrounded by active exploration and recent graphite discoveries," England added.

"We have established a broad corridor with multiple EM conductors that points to the potential for Caribou to make a drill discovery at Mulloy."