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Bluenose Gold Corp. announced that they have agreed to acquire a 100% interest in the 16 mineral claims dubbed as the "Zenyatta West Graphite Project". The Zenyatta West Graphite Project is adjacent on the west border of Zenyatta Ventures Ltd.'s graphite deposit discovery which is located in Northern Ontario, Canada. The Bluenose-Zenyatta West Graphite Project is potentially rich with hydrothermal graphite. Hydrothermal graphite is a light-weight, high purity, highly conductive material. Hydrothermal graphite acts as a major component in the production of lithium-ion batteries. Hydrothermal graphite is also important when it comes to storage for smart grids and for most off grid power supplies

Zenyatta discovered the hydrothermal graphite deposits in Albany. The company reports of significant carbon grades in the deposits and drilling intercepts. The graphite deposit location corresponds to a magnetic low that was discovered though aeromagnetic survey. The considerable magnetic low appears to be situated on Bluenose's Zenyatta West Graphite Project.