American Graphite Technologies Inc (OTCBB:AGIN) announced that it has acquired a 100% interest in the Lac Nicolas Graphite Property, which covers 13,343 acres of prospective graphite claims in Quebec.
As quoted in the press release:
- 100% ownership of 100 mineral claims covering approximately 5,400 hectares (13,343 acres) of land in Quebec, Canada. No Royalty or NSR attached to the property.
- Located in the vicinity of a world class high grade graphite deposit (Lac Gueret project) belonging to Mason Graphite Corp.
- New high grade graphite discoveries announced by Focus Graphite 10 kilometers to the north of Lac Guerete deposit.
- Geologically the property is underlain by rocks of Granville Province and Archean basement and is believed to be similar to other graphite deposit / discoveries in the area.
- Property is part of the area designated as “Plan Nord” for major economic, social and environmental development as announced by the Quebec Government. Quebec is rated as one of the top five mining jurisdictions in the world.
- The property is in an underexplored relatively new graphite exploration area believed to have significant upside potential for new discoveries.