The property has intersected two grab assays of 51.98% and 66.15% Cg in a recent bulk-sampling program from historical trenching and further sampling; assays are pending.
Bobcaygeon graphite property package covers over 55km2 of claims, leases and private patents, and includes claims recently staked to cover key mineral trends and features.
Geologically, the property package is located on the border of the Precambrian Grenville Province and the Paleozoic Lowlands, marking a prospective locale for potential graphitic deposits.
Valterra Resource Corporation chairman Lawrence Page said, "Acquisition of an option to purchase the Bobcaygeon Graphite Property on attractive financial terms is an initial step by new officers of the company to continue to acquire and develop properties with mineral inventories which are in great demand."
An earlier graphite discovery on the property in 2003 during a trenching program observed the graphite veins are within calcitic marbles sitting west of a syenitic amphibolite unit and the contact is traceable for up to 10-12km.
In 2012, the company is planning to conduct a ground-based gridding and geophysical survey over the primary trench region in order to detect conductive zones which may be associated with graphite and proposing 500-1,000 meters of diamond drilling.
