GTA Resources and Mining GTA-V) stakes 64 claim units at Auden Cg property
Aug 13, 2013 - News Release
GTA Resources and Mining Inc. is providing an update on its 100-per-cent-owned Auden project located adjacent to Zenyatta's Albany graphite project between the towns of Hearst and Long Lac in Northern Ontario. GTA has acquired, by staking, an additional 64 claim units, which increase the Auden property to over 26,000 hectares (1,660 claim units), and has identified several conductive zone targets on its central claims. GTA may acquire further claims in the area. The Auden property is located adjacent to the south of the Albany property of Zenyatta Ventures, which recently discovered vein-type graphite (hydrothermal) mineralization while testing electromagnetic (EM) targets. The mineralization has been described as occurring in breccia pipes (diatremes) having dimensions in the order of 200 metres by 400 m. The deposits are further described as containing the largest and only high-purity hydrothermal graphite mineralization being developed in the world. GTA has owned the Auden claims since 2010 and is the single largest landholder in the area. Furthermore, GTA's management and geological consultants believe that the graphite breccia pipes that exist on Zenyatta's Albany project are similar to kimberlite pipes (diatremes) and are likely to occur in clusters along structural corridors. Future exploration on the GTA claims will focus on identifying similar targets.
An interpretation of an electromagnetic and magnetic survey completed by GTA on the central portion of the Auden property has identified at least nine priority targets for follow-up. All of these targets are highly conductive and could be due to the presence of graphite (graphite has highly conducive properties). None of these conductive targets have been previously drill tested.
In summary, GTA is the single largest landholder in the area and the only company (other than Zenyatta) to have known electromagnetic (conductive) targets. GTA is in the process of submitting a work permit application to the Ontario government and completing an exploration agreement with the Constance Lake First Nation prior to carrying out a follow-up program of ground geophysics and drilling. This work is scheduled to start this fall.
Robert Duess, PGeo, vice-president of exploration for GTA, qualified person as defined in National Instrument 43-101, is responsible for this release and supervised the preparation of the information forming the basis for this release.
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