|March 15, 2012|
Zimtu Capital Corp. Announces Transaction with Big North Capital Inc. for Graphite Properties in Southern Ontario
|March 15, 2012 - Zimtu Capital Corp. (TSXv: ZC; FSE: ZCT1) (the "Company" or "Zimtu") is pleased to announce that the Company and two prospecting partners have signed an agreement with Big North Capital Inc. (TSXv: NRT) ("Big North") whereby Big North can earn a 100%-interest in the Griffith and Brougham Graphite Properties located in southern Ontario.|
Property highlights include:
Griffith and Brougham Graphite Properties
The property consists of two approximately equal-size claim blocks in Lyndoch-Griffith and Brougham Townships, respectively, that total approximately 6,500-hectares located about 140 kilometres south of Ottawa. The claim blocks, known as the Griffith Graphite Property and the Brougham Graphite Property (together, the "Property"), contain or adjoin numerous historical graphite occurrences. The Property is located in an area of well-established access and infrastructure.
The Property covers substantial tracts of graphite-prospective Grenville-age marble+/-gneiss geology and are unexplored for graphite using modern technology. The Brougham Graphite Property is anchored by two historic graphite occurrences (based on Ontario Geological Survey maps from the 1970's) to the southeast. The Griffith Graphite Property covers a large area of favourable geology with the historic Little-Bryan and Beidelman-Lyall graphite occurrences to the west/south respectively and a marble quarry with reported graphite to the east. Hosted by gneisses, the historic Little-Bryan graphite occurrence is currently being explored by Standard Graphite Corp.
There is currently a considerable amount of graphite exploration activity in the Grenville geologic province of southern Ontario. The Grenville province is characterized by a suite of Precambrian-age, high grade metamorphic rocks that by virtue of their initial carbon-bearing composition and metamorphic and deformation history, are prospective for graphite, particularly the coarse flake variety. Two of the most advanced projects in the region are those of Northern Graphite Corp. at their Bissett Creek Deposit and Ontario Graphite Ltd. (private) at their Kearney Deposit.
Mr. Bill Brereton, PEng, a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
About Zimtu Capital Corp.
Zimtu Capital Corp. invests in, creates and grows natural resource companies thereby providing a way for shareholders to indirectly participate and profit in the public company building process. The Company also provides mineral property advisory services helping to connect companies to properties of interest.
Zimtu Capital trades on the TSX Venture Exchange under the symbol "ZC" and the Frankfurt Stock Exchange under the symbol "ZCT1." For more information please visit the corporate website at www.zimtu.com or contact:
Toll Free: 1.877.377.6222
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
President & Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future.
Forward-looking statements in this news release include that Big North can earn a 100%-interest in the Griffith and Brougham Graphite Properties; that in consideration for its interest, Zimtu will receive staged cash and share payments from Big North, that Zimtu's partners will receive cash and share consideration equal to that of Zimtu; that the vendors will collectively retain a 2% Net Milling Royalty on the property, 1% of which can be purchased by Big North for C$1 million; and that Zimtu with the support of its prospecting partners will continue to evaluate and acquire prospective resource properties to make available for sale or joint venture.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
You can view the Next News Releases item: Tue Apr 3, 2012, Zimtu Capital Corp. (TSXv: ZC) Announces $3.0 Million Non-Brokered Private Placement
You can view the Previous News Releases item: Thu Mar 1, 2012, Zimtu Capital Corp. Announces Transaction for Portfolio of Australian Graphite Projects
You can return to the main News Releases page, or press the Back button on your browser.