Zenyatta Ventures* (ZEN : TSX-V : $3.89)
Net Change: 0.05, % Change: 1.30%, Volume: 849,306
Bucking the trend in a great way! While the junior resource space has more or less been left for dead over the past couple months, shares of junior graphite explorer Zenyatta have significantly bucked the trend and are now up over 125% since mid-May. Recently, ZEN announced that recent drilling has intersected wide zones of graphite mineralization on the East Pipe, at the company's 100%-owned Albany (Hydrothermal) Graphite Deposit, located in northern Ontario, Canada. Management highlighted that drill hole 11, the deepest to date at the East Pipe, was designed to test to a vertical depth of 500 m and yielded 84.9 m @ 5.2% graphitic carbon (Cg) from 460.6 m to 545.5 m within a broader intersection of 203.0 m of graphite mineralization averaging 3.0% Cg from 393.0 m to 596.0 m. The company noted that the East Pipe is showing good vertical continuity and remains open at depth. ZEN's President and CEO, Aubrey Eveleigh, stated, "These latest results demonstrate excellent vertical
continuity of the East Pipe and exceptional size potential of the Albany graphite deposit. Drill intercepts appear to be correlating extremely well with the shape of the ground geophysical conductors. The drill has now been mobilized to the West Pipe and hole 26 has commenced.