We are extremely excited to be an early mover in an emerging graphite camp with current production in close proximity to our project area. We are fortunate to add this asset to our property portfolio and will initiate exploration as soon as possible.
Vancouver, BC (PRWEB) April 19, 2012
(Financial Press) – Canada-based resource exploration firm Black Smoker Ventures recently announced a project acquisition in one of North America’s top graphite-producing regions.
The company reported on April 18, 2012 a deal which puts Black Smoker right in the heart of the ongoing graphite boom.
The deal gives Black Smoker a sizeable property immediately adjacent to Eagle Graphite’s mining operations in British Columbia, Canada in exchange for $10,000 cash and 500,000 shares.
The acquisition makes Black Smoker the largest publicly-traded landholder immediately adjacent to Eagle Graphite’s Black Crystal Graphite Quarry.
The Quarry produces approximately 4,000 tonnes of graphite per year and has been producing graphite since its initial construction in 1996. It’s vast resources of graphite-bearing minerals has allowed the company to grow into the second largest graphite producer in North America and the only natural flake graphite mine in British Columbia.
The detailed map of the region shows the property is strategically located within a region with a long history of high-quality graphite production.
Black Smoker’s total property covers 2,464 hectares of graphite exploration territory and is a mere three kilometers away from the Quarry. Now the company is also the closest landholder to the Quarry aside from Eagle Graphite, which owns and operates the Quarry.
In addition, Black Smoker is one of only a handful of companies able to stake a claim on the geological trend surrounding Eagle Graphite’s operations and has by far the lowest market capitalization compared to the other public companies.
For example, First Graphite has a smaller claim in the Eagle Graphite region and is not as closely located to the Quarry as Black Smoker’s property is. First Graphite’s market value is approximately $9 million. Black Smoker currently has a total market capitalization of approximately $2.5 million.
Carson Seabolt, Black Smoker’s President and CEO, states: “We are extremely excited to be an early mover in an emerging graphite camp with current production in close proximity to our project area. We are fortunate to add this asset to our property portfolio and will initiate exploration as soon as possible.”
Throughout the graphite boom, dozens of junior exploration companies have acquired properties in the relatively few countries with graphite production and have focused on Canada. Most of them have focused on Ontario and Quebec though. Black Smoker is one of the first to move into the Eagle Graphite area and acquire a very large stake in a proven graphite-producing region.
Black smoker has laid out an accelerated development plan for the project as well. This plan will include a mapping and sampling program and drill targeting and identification program. After which the property should be ready to be drilled.
Black Smoker shares trade on the Canadian National Stock Exchange.
Learn more at http://www.blacksmokerventures.com
Legal Disclaimer/Disclosure: A fee has been paid for the production and distribution of this Report. This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this article should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. Financial Press makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of the author’s only and are subject to change without notice. Financial Press assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this article and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this article.