Amseco Continues to Acquire Potential Graphite Claims
March 15 2012 - 11:56AM
Marketwired
Amseco Exploration Ltd.(TSX VENTURE:ALE) is acquiring 25,362
hectares (254 km2) in a district known to host multiple graphite
occurrences. The Company will have 100%-control of the 469 claims.
As part of an ongoing strategic plan announced last month, the
Company has decided to expand its traditional precious metals
exploration activities to also include industrial minerals. This
decision has been made based on rapid growth of the market for
graphite and other industrial minerals.
To complete the acquisition, Amesco will pay $15,000 in cash and
issue 3 million shares from the treasury on closing. The Vendors
will retain a 2% Net Smelter Return Royalty of which 1% can be
bought back by Amseco for $500,000.The closing of this transaction
is conditional upon receipt of TSX Venture Exchange approval.
Amseco will issue a geologic overview of the historical
compilation, surface geophysics and mapping on the Manic and
Tetepisca properties in the next few days.
These properties are all located in the general area of the
southwest bank of the Manicouagan Reservoir, within approximately
20 to 25 kilometres of the Manic V electric dam, close by to
projects controlled by Cliff Resources, St-Georges (SX), Focus
Metals and others. The project is approximately 215 km north of the
Quebec North Shore deep sea port town of Baie-Comeau. The project
area is accessed by Highway 389, the national road connecting
Baie-Comeau and Labrador, plus logging roads.
Graphite Market
In recent years, the demand for graphite has doubled to one
million to 1.2 million tons, and is expected to keep rising. Forty
per cent of the total is for flake graphite, for which new uses are
found in emerging technologies, the most significant being
lithium-ion batteries. The latter is expected to raise demand for
flake graphite to nearly 1.6 million tons in the next 10 years, as
the demand for electric vehicles and lithium battery technology
booms. In addition, the demand for graphite for traditional uses is
rising as emerging countries enter an era of industrial
modernization. The automotive and steel industries account for the
largest demand for graphite, which is rising by 5 per cent
annually. Other considerable applications of graphite include
nuclear power, fuel cells, solar thermal collectors, vanadium
batteries and additional uses.
About Amseco Exploration Ltd
Amseco Ltd is a mineral exploration company focused on
discovering high-quality Gold in the Abitibi - Quebec (Barry-Urban)
and Ontario (Tisdale), James Bay (Radisson) and Eastern Townships
(Appalachian Geological Province) and in high-quality Graphite in
the St-Lawrence North Shore - Manic Five (Grenville Geological
Province) areas. Led by a determined management and technical team
with extensive exploration and mining experience, Amseco holds
interests in properties with potential for both precious and
industrial minerals.
Contacts: Jean Desmarais President Amseco Exploration Ltd. 514
284-5111 / Cell: 514 898-5326 514 284-6111
(FAX)jeandesmarais@amsecoexploration.com
www.amsecoexploration.com