Zenyatta Ventures to Commence Definition Drilling at Albany Graphite Deposit, Northeastern Ontario

Zenyatta Ventures Ltd. (“Zenyatta” or “Company”) (TSXV : ZEN) is pleased to announce that it will commence initial definition drilling at the Albany Graphite Deposit, located near Hearst in northeastern Ontario. The goal of the drill campaign is to further test the extent of a 1400 metre by 800 metre airborne EM conductor with approximately 4000 metres (“m”) of drilling over the next 2 months with widely spaced (200m) drilling. As previously announced in the Company’s news releases, a recent drill hole on the Albany project testing this large EM conductor intersected eight (8) separate and extensive graphite-rich breccia zones. Subsequent petrographic examination of samples sent to Lakehead University (“LU”) confirmed the drill hole had intersected a hydrothermal (magmatic) occurrence of graphite with a flake size ranging from fine (-270 mesh) to coarse (+40 mesh). A per recommendations of the LU report, SGS Canada Inc. (Mineral Services Division of Lakefield) has been engaged to assess the purity and metallurgical response of the graphite material. Aubrey Eveleigh, President and CEO stated “Given the positive report from Lakehead University and work being conducted by SGS Lakefield, the next logical step for the Albany project is to confirm with drilling that this large geophysical anomaly represents the potential limits of a graphite-rich breccia pipe. It is a very important step in determining the possible size of this newly discovered graphite deposit. Results are expected over the next few weeks.” Core photos, section and maps can be seen on the website at www.zenyatta.ca . The graphite discovery is located 30km north of the Trans Canada Highway and a gas pipeline. A rail line is located 70km away and an all-weather road approximately 4-5km from the graphite deposit. The deposit is near surface, underneath glacial till overburden. Mr. Aubrey Eveleigh, P.Geo., President and CEO, is the “Qualified Person” under NI 43-101 and has reviewed the technical information contained in this news release. To find out more on Zenyatta Ventures Ltd., please visit website www.zenyatta.ca or contact the Company at info@zenyatta.ca or Tel. 807-346-1660. 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. This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
  • Share

About Zentek Ltd.

Zentek is an IP development and commercialization company focused on next-gen healthcare solutions in the areas of prevention, detection and treatment. Zentek is currently focused on commercializing ZenGUARD™, a patent-pending coating with 99% antimicrobial activity, including against COVID-19, and the potential to use similar compounds as pharmaceutical products against infectious diseases. The company also has an exclusive agreement to be the global commercializing partner for a newly developed, highly scalable, aptamer-based rapid pathogen detection technology.

To find out more about Zentek Ltd., please visit our website at www.zentek.com. A copy of this news release and all material documents in respect of the Company may be obtained on Zentek's SEDAR profile at www.sedar.com.

Forward-Looking Statements

This news release contains forward-looking statements. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although Zentek believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Zentek disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the 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.

For further information:

Tyler Dunn

Director, Marketing & Communications

tdunn@zentek.com

Subscribe for Updates

Interested in recieving press releases directly to your inbox? Subscribe to Zentek's mailing list for all the latest news.