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Mon, February 13, 2012 Soldi Ventures Inc. Diversifies its Exploration to Include Graphite by Acquiring the Lochaber Property in Quebec
February 13, 2012 09:00 ET
Soldi Ventures Inc. Diversifies its Exploration to Include Graphite by Acquiring the Lochaber Property in Quebec
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 13, 2012) - Soldi Ventures Inc. (Soldi) (TSX VENTURE:SOV) is pleased to announce the acquisition of the 2,300 acre Lochaber Graphite Property in Quebec. The Lochaber Property had been the target of exploration in the early 1950s and again in the 1980s during which time an airborne survey (in report DP 83-05) was flown to further define targets. A strong, wide airborne conductor was discovered and a ground visit to the location revealed massive flake graphite. The property is located approximately 30 kilometers east of Ottawa-Gatineau, near a highway in a historic graphite mining district.
In a 1952 report it was reported that "trenches were bulldozed by Frobisher Exploration, stripping overburden of 3-18 inches perpendicular to the strike of the Graphite zone. 10 trenches were stripped every 50 feet for 550 feet of the zone. The graphite exposed ranged from 3 feet to over 10 feet in the last 150 feet of the zone. The graphite zone trends along a steep valley that has a strike of N85E." The author visually estimated grades of 10% to 15% graphite. A pit 1,500 feet west of this zone exposed graphite bearing rock.
A government airborne electromagnetic-magnetic survey detected conductors on three lines, showing parallel zones to the one which was trenched.
All historical work is being compiled, prior to designing an exploration program using modern exploration methods.
Pursuant to the terms of the option agreement, Zone will pay a cumulative amount of $100,000 cash and issue 1,500,000 common shares over a three year period. The Lochaber Property is subject to a 2.0% Net Smelter Royalty ("NSR"). Zone shall have an option to purchase 1% of the NSR for the sum of $1,000,000 at any time up to when a production decision is made. The terms of the agreement are subject to regulatory approval of the TSX Venture Exchange.
Technical information in this news release has been prepared and/or revised by Mike Magrum, P.Eng., Qualified Person as defined in NI 43-101 for Soldi.
You can now find Soldi Ventures Inc. on Twitter at [ http://twitter.com/soldiventures ].
Soldi Ventures Inc. (TSX-VENTURE:SOV) is a Canadian junior gold exploration company focused on discovering gold deposits in politically safe jurisdictions.
On behalf of the board of SOLDI VENTURES INC.
Charles Desjardins, President
Cautionary note:
This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. The production rate and mine-life projections have been made without support of a feasibility study, there is no certainty the proposed operations will be economically viable. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
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.
