Prepared by Roscoe Postle Associates (RPA), indicated mineral resources estimates delineated a total 25.1 million tons (Mt) at an average grade of 3.89% graphitic carbon (Cg), containing 977,000 tons of Cg till date.

Zenyatta Ventures president and CEO Aubrey Eveleigh said the initial results from the independent work completed by RPA displayed a very robust graphite deposit.

"The Mineral Resource estimate shows a significant amount of graphitic carbon totaling 977,000 tonnes Indicated and an additional amount of 441,000 tonnes Inferred," Eveleigh added.

Additionally, the inferred mineral resources estimates defined to total 20.1 million tons at an average grade of 2.20% Cg, containing 441,000 tons of Cg to date.

"It’s significant to note that the graphite mineralization extends below the preliminary pit shell and is also open at depth but not included in these Mineral Resource estimates."

Zenyatta will continue with market studies and will complete a Preliminary Economic Assessment (PEA) by the second quarter of 2014 through an independent consultant.