Zenyatta Ventures Ltd.
) announced the following significant assay results from holes 11 - 15 drilled on the East Pipe of the 100% owned Albany (Hydrothermal) Graphite Deposit, located in northern Ontario, Canada.
According to the Zenyatta Ventures press release
, graphite mineralization in the East Pipe appears to consist of a higher grade core of graphitic breccia which is typically surrounded by a broad halo of graphite overprinted syenite.
Highlights from the assay results include drill hole 11, which was designed to test to a vertical depth of 500 metres and yielded 84.9 metres at 5.2% graphitic carbon within a broader intersection of 203.0 metres of graphite mineralization averaging 3.0% graphitic carbon.
The East Pipe shows good vertical continuity and remains open at depth.
Ten more holes have since been completed on the East Pipe, all of which yielded broad intervals of graphite mineralization from visual observations of drill core.
Zenyatta is junior exploration company currently exploring for copper-nickel-PGM deposits in Northern Ontario.
On Tuesday, Zenyatta rose 8% and was trading at $3.19 a share. The company had a market cap of $129.5 million, based on 40.6 million shares outstanding.