Vancouver's MPH Ventures said it's acquired a 100-per-cent interest in its North Albany graphite property in the Cochrane district of northeastern Ontario.
The 256-hectare property is just to the north of Zenyatta Venture's Albany graphite discovery where that company is exploring and developing a high grade hydrothermal breccia pipe hosting graphite which was first discovered in 2011.
"The company feels this is a great acquisition and is complimentary to MPH Ventures other projects all located in Northern Ontario,” said MPH Ventures president Jim Pettit in a statement. “This now gives MPH Ventures exposure to one of the best new discoveries in Ontario. MPH Ventures now has projects with interests in gold, base metals, and specialty (industrial) minerals."
Zenyatta's Albany project is considered the largest and only known graphite deposit of this type under development in the world. It's much sought after for uses in electric cars, tablets and smart phones. The global demand for high purity graphite is growing.
MPH's main asset is its Pidgeon Molybdenum Deposit near Kenora and has three gold properties near Timmins.
