Assay results from the current drilling campaign revealed the drill Hole #5 intersected over 170m mineralized zone containing 6.6% graphite.

The upper graphite zone, from 44 to 132m, had 6.5% graphite over 88m while the lower graphite zone, from 138 to 214m graded 7.1% graphite over 76m.

The company stated the individual samples revealed nearly 13.1% graphite.

Zenyatta Ventures president and CEO Aubrey Eveleigh said Hole 5 intersected an incredible grade and width of graphite mineralization on the eastern portion of the geophysical anomaly.

"This is our best drill hole to date and confirms that Zenyatta has discovered an extensive and unique graphite-rich deposit," Eveleigh said.

Hole #5 (Z12-4F5) was drilled in a northerly direction at -65 and collared 450m east of the original discovery drill hole (Z11-4F1).

Drill hole #4 (Z12-4F4), which was drilled in a southerly direction, was collared from the same setup as hole #5.

From 47 to 61.8m the drill hole intersected a zone of graphitic veining and breccia and graphitic overprinting from 61.8 to 170.0 meters.

Zenyatta will re-drill the 170m point at a later date as the drill encountered mechanical problems related to a detached drill string and the hole was subsequently abandoned.