Torch River Resources Ltd. (TSXV:TCR) announced that it has entered a “non-binding agreement with a non-arm’s length party” to acquire the Wallingford and Saint Jovite lump graphite properties, both located near Montreal, Quebec and close to the company’s Walker mine.

As quoted in the press release:

The Wallingford Property is located 10 km north of Buckingham village in the Central Metasedimentary Belt of the Grenville geological Province, some 182 km west of Montréal. It includes the historic Wallingford-Buckingham mine, a feldspar and quartz pegmatite dyke which crosscuts a sillimanite-garnet gneiss. The deposit was discovered by prospection in 1923 and the mine was in operation from 1923 to 1938 (SIGEOM database of MRN).

The St. Jovite Property is located 8.5 km south-south-east of the village of Brébeuf, in the Laurentian region, approximately 153 km northwest of Montreal. It is underlain by metasedimentary rocks of the Grenville Province which had been invaded by the igneous rocks of the Morin series. It includes the Brébeuf-SSE deposit which was mined sporadically from 1954 to 1961. It consists of a vein type deposit with a most important pegmatitic vein measuring 30 m in length by 0.6 to 1.8 m in width.

Click here to read the full Torch River Resources Ltd. (TSXV:TCR) press release.