Zenyatta Ventures (ZEN.V/ZENYF) is no longer overbought and potentially reversing at current levels. We’ve seen a healthy pullback on significantly lower average volume than the recent upward move to 52 cents. We feel the graphite sector pullback over the last 2 weeks may be coming to an end as well and Zenyatta is likely to emerge as a leader in the sector going forward with their exciting discovery at Albany. The fact is that if ZEN continues to have success in step out drilling beyond the recent 200 meters, and they discover more vein graphite, we could be in for a ride that you won’t want to miss!




The stock could still pullback to its 50 DMA but taking recent PR and other factors into consideration, we may have already seen a short term bottom at 35 cents.

April 23rd PR below indicates assay results as early as late next week on holes 2 and 3. These results could be a lynchpin for the stock if grades indicate what the airborne conduction and early drill results alluded to since earlier this year; a world class vein graphite deposit. I expect regular news flow out of ZEN for the foreseeable future (virtually throughout the summer) and more clarity on recent drill results prior to the OnPage Media/Financial Post Graphite Conference May 2, 2012 in Toronto. ZEN will be attending and could steal the show while generating new awareness and buzz about their story within the investment community.

The airborne survey showed an anomaly approximately 1400x 800 meters in size, which allows us to speculate that this deposit will grow in size as drills run and PR continues. The company has a large area to explore and will do so on 27 other blocks that could create further excitement if another discovery is made. We may see nickel/copper is found on their property as well, which is what they were initially drilling for at Albany.

Folks, this is why I invest in mining stocks! To find a play early on in a discovery and ride the wave of proving the deposit up, which typically allows for the largest capital gains. It seems the graphite rush is closer to its infancy than maturity, which may create grand speculation in the space while ZEN is hitting their stride. Certainly with early hype, the market has plenty of risks, but this is a calculated risk I’m willing to take. ZEN is now tied for my biggest personal position alongside Timberline Resources (TLR) and I’ve been involved in TLR for some time. So, I have decided to take action on this play as the risk seems to be on the upside going forward.

If you haven’t seen the recent press release or company presentation, I encourage you to take a moment to click on the link and read below. I believe the stock could hit $1-1.50 in the next 3-6 months (either they have it or they don’t-we’ll know pretty quick if they have a tiger by the tail!) and an eventual share price of $2-5 per share is not out of the question.

**Don’t forget to sign up for our Free bi-weekly E-Letter for updates on ZEN and other select mining stocks and precious metals-Opt-In Box located at the top right of each page on http://www.goldinvestmentletter.com

Check for updates on ZEN at our blog: http://www.goldinvestmentletter.com/blog/

New Graphite presentation:
Zenyatta Ventures; Drilling Continues to Intersect Wide Zones of Graphite Breccia at Albany GRAPHITE Deposit in Ontario, Canada. Thunder Bay, ON – 23 April 2012
Zenyatta Ventures Ltd. (“Zenyatta” or “Company”) (TSXV : ZEN) is pleased to announce an update on drilling at the Albany Graphite Deposit, located near Hearst in northeastern Ontario, Canada.

Drill hole #3 (Z12-4F3), which is near completion, was collared 200 metres (‘m’) north of the original discovery drill hole (Z11-4F1) and drilled in a southerly direction. Significantly, upon passing through the overburden/limestone, the hole immediately intersected graphitic breccia which shows the deposit coming to near surface. A wide zone (43.1m) of graphitic breccia was intersected from 62.6m to 105.7m followed by a zone of graphitic overprinting from 105.7m to 133.5m. Another, very wide zone (128.1m), of graphitic breccia was intersected from 133.5m to 261.6m. This represents the largest intersection of graphitic breccia drilled to date. Graphitic overprinting consists of veinlets of graphite within the granite.

Drill hole #2 (Z12-4F2) was designed to test the southern extent of the graphite breccia pipe. The drill hole was collared 200 metres (‘m’) south of the original discovery hole (Z11-4F1) to test the limits of the geophysical anomaly model and to define the contact of the graphitic breccia body. The drill hole defined this contact and intersected a wide zone of graphitic breccia and graphitic overprinting, where the breccia pipe model predicted it would be located. The drill hole intersected a wide zone (59.62m) of graphitic breccia from 380.27m to 439.89m.

Graphite analyses for these two (2) drill holes are expected over the next 10-12 days. A plan map, section and additional photos can be found on the website at http://www.zenyatta.ca .

Holes #4 (Z12-4F4) and #5 (Z12-4F5) have been proposed by our geological technical team and are shown on the website plan map. These drill holes will further test the geophysical conductor with a large (400m) step-out to the east. Hole #4 is scheduled to be started in the next 5-7 days.

The goal of the current drill campaign is to geologically define the extent of the graphite breccias, delineated by an airborne geophysical conductor with approximately 4000m of wide-spaced drilling over the next 2 months. As previously announced in the Company’s news releases, recent drill holes on the Albany project have intersected extensive graphite-rich breccia zones. Subsequent petrographic examination of samples sent to Lakehead University (“LU”) confirmed the drill hole had intersected a very rare hydrothermal (magmatic) occurrence of graphite with a flake size ranging from fine (-270 mesh) to coarse (+40 mesh). As per recommendations of the LU report, SGS Canada Inc. (Mineral Services Division of Lakefield) has been engaged to assess the purity and metallurgical response of the graphite material.

Aubrey Eveleigh, President and CEO stated “Drilling continues to expand this unique and large graphite deposit at our Albany project. The Company is looking forward to continued definition drilling and receiving the graphite analyses within the next 2 weeks. ”
The graphite discovery is located 30km north of the Trans Canada Highway, power line and natural gas pipeline. A rail line is located 70km away and an all-weather road approximately 4-5km from the graphite deposit. The Albany graphite deposit is near surface, underneath glacial till overburden.

**Don’t forget to sign up for our Free bi-weekly E-Letter for updates on ZEN and other select mining stocks and precious metals-Opt-In Box located at the top right of each page on http://www.goldinvestmentletter.com


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