TORONTO, ONTARIO--(Marketwire - Jan. 27, 2011) - Fortune Graphite Inc. (FRANKFURT:ZTWN) has acquired 100% of the Superior Group graphite carbon mineral properties in the Slocan mining region of British Columbia, Canada.
The Company acquired the Superior Group for 1.5 million dollars (Cdn) and is the legal and registered owner of a total of 3,650 hectares containing graphite carbon.
Laboratory results conducted by Asbury Carbons NJ indicate graphitic carbon content from 7.4% to 13.31%.
|Superior I - XXXII
||348875 - 347430
|Amar - Elie 1-10
||300990 - 390999
|Superior XXXIII - XXXVI
||360029 - 360032
Over one million dollars (Cdn) has been spent on exploration, sampling, testing, and drilling on the Superior Group of mineral claims.
|Completed Work to Date Presented in $CDN
|1997 Acquisition Consideration $1,260,000
|1998 Exploration Pearson, Hoffman, BLM Engineering, et al.)
|1999 Drilling SNC-Lavelin et al.) $600,000
|2000 Exploration George Addie, P. Eng. et al.)
|2001 Exploration and Geological - Main Zone $136,000
|2002 Exploration and Geological - Main Zone $140,000
|2003 Administration including filing fees and consultations $40,000
|2004 Drilling and Testing of samples $150,000 - $175,000
|2005 National Instrument 43-101 filed - Stephen B. Butrenchuk, P. Geol.
The engineers, geologists, assayers and consultants who have been on the property and/or worked on the analysis of samples from the property, feel the graphitic inferred reserves have impressive potential and will in all likelihood prove to be a world class deposit in both size and quality.
About Fortune Graphite Inc.
Fortune Graphite is a British Columbia Canada company that identifies and brings to market valuable mining properties bearing Graphite Carbon, Gold, Silver & other precious metals.
Certain statements above constitute forward-looking statements with respect to Fortune Graphite Inc. and affiliated companies. Such forward- looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the companies to be materially different from any further results, performance or achievements expressed or implied by such forward-looking statements.