The company formally known as Zenyatta Ventures and ZEN Graphene Solutions is taking offers for its high-grade graphite deposit, west of Hearst.
Guelph-based Zentek has hired The Benchmark Group of New York to act as a “strategic financial advisor with respect to potential transactions” on its Albany Graphite Deposit.
The deposit, located just off Highway 11 and near the community of Constance Lake First Nation, was first discovered in 2011. It’s been described as a high-purity “freak of nature.”
Over the years, the company has transitioned from a Thunder Bay junior mining exploration outfit to a southern Ontario healthcare solutions company.
They've worked with university researchers to develop a proprietary process that converts Northern Ontario-mined ore into a top quality graphene oxide with applications in transportation, aerospace, bio-medical, water purification and civil engineering fields.
A commercial breakthrough was realized with the pandemic outbreak. Their test work produced a Health Canada-approved product in the form of a graphene-based microbial coating that can be applied to surgical masks and gowns to neutralize viruses like COVID-19.
Zentek, which now bills itself as an “intellectual property development and commercialization company,” has been signing a number of commercial deals with manufacturers and customers for its growing catalogue of products.
As for the deposit itself, a 2015 preliminary economic assessment placed a 22-year open-pit mine life on the deposit, forecasting the potential to annually produce 30,000 tonnes of graphite ore.
Zentek vows that it will continue to consult with nearby Constance Lake First Nation throughout this process.
“As the potential for a robust graphene market grows along with the strong demand for North American sourced battery-grade graphite, we have been approached by a number of entities regarding our wholly-owned Albany Deposit and have engaged Benchmark to review strategic alternatives,” said Zentek CEO Greg Fenton in an April 18 news release.
“We’ll rely on the expertise of Benchmark to provide strategic advice and explore options relating to this valuable deposit.”