October 13th, 2017, VANCOUVER, B.C. Berkwood Resources Ltd. (TSX-V: BKR, FSE: BK2, WKN: A110N3) (“Berkwood” or the “Company”) is pleased to announce that it has acquired the Roscoe Vanadium Property in the Cote-Nord area, Quebec. The Roscoe Property (the “Project”) comprises forty (40) claims totalling 2,189.19Ha (21.89km2) in an area of known iron-titanium-vanadium mineralization and features certain historic work and more recent airborne geophysical surveys. The Project property is easily accessible by main and secondary (dirt logging) roads and is located about 250km north of the Baie-Comeau municipality. Berkwood is acquiring The Roscoe Vanadium Project by payment to 1129961 B.C. Ltd of 1,500,000 common shares and $15,000. Berkwood will own 100% of the property with no royalties attached. The transaction remains subject to TSX-V approval.
Work in the recent past (2012) has identified magmatic Fe-Ti+V oxide mineralization hosted in layered mafic intrusive rocks: limited rock sampling (11 samples) has returned results up to 1,180ppm V and 2,330ppm V (MRN, 2012) at two showings located on the Property. The distribution of magnetic ilmenite and titaniferous magnetite rich units and their layered host rocks are expected to have a distinct geophysical signature. Regional magnetic survey shows possible extensions to the showings that could be connected as indicated by the survey. The acquired claims are very well distributed for coverage of the known prospects and magnetically traced host units.
The Company is pleased to acquire this initial vanadium prospect. Berkwood believes that vanadium is on the cusp of widespread adoption as the element of choice for an emerging grid-scale battery technology (the Vanadium Redox Flow Battery, refer http://www.visualcapitalist.com/vanadium-energy-storage-metal/ ), and which is presently the core technology for the worlds largest grid scale battery (200MW, 800MWh, presently in construction in Dalian, China; refer http://www.engineering.com/DesignerEdge/DesignerEdgeArticles/ArticleID/12312/Massive-800-MegaWatt-hour-Battery-to-Be-Deployed-in-China.aspx ).
Tom Yingling, President and CEO stated “we are thrilled to have located the Roscoe property as it begins to fill our ambition of including vanadium in our portfolio of the essential energy storage commodities. Vanadium used in flow batteries requires high quality primary sources of vanadium, and early chemical indications are that the Project has great potential and is located in the same great mining jurisdiction as our other compelling battery commodity projects”.
Qualified Person: Isabelle Robillard, P.Geo OGQ, a Qualified Person (“QP”) as defined by National Instrument 43-101 guidelines, has reviewed and approved the technical content provided in this news release.
About the Company: Berkwood is engaged in exploration for the commodities that enable the modern revolution in essential technologies. These technologies are dependent upon materials that enhance the performance of energy storage systems and permit the development and miniaturization of new electronics and structural components in the new suite of innovative tools. The Company is led by a team with collectively over 100 years experience and have been involved with numerous discoveries of producing mines.
On Behalf of the Board of Directors
Berkwood Resources Ltd.
President, CEO & Director
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Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect.