Bora Bora identifies new VTEM anomaly

THE DRILL SERGEANT: Bora Bora Resources (ASX: BBR) has claimed discovery of what it calls a ‘bullseye’ anomaly at the company’s Matale/Kurunegala graphite project north of Kandy in central Sri Lanka.

The anomaly was identified from a recently flown airborne Versatile Time-Domain Electromagnetic (VTEM) survey over the project.

Bora Bora has named the anomaly the Kingfisher prospect, which is situated approximately 10 kilometres north of the Kahatagaha and Queens graphite mines.

 

Location of Kingfisher anomaly relative to the Queens and Kahatagaha graphite mine anomalies. Source: Company announcement

 

BBR recently signed a Heads of Agreement in regards to the Queens mines with RS Mines (Pvt) Limited to acquire up to a 50 per cent interest.

Bora Bora has moved to secure land access over the Kingfisher anomaly area, which it said will allow it to commence ground exploration work including geophysics, geochemical sampling and drilling immediately.

“The VTEM has revealed a clear bullseye anomaly with a similar intensity and appearance to the anomalies associated with the nearby Queens and Kahatagaha graphite mines,” Bora Bora said in its ASX announcement.

“Mapping has uncovered a number of historical graphite pits coincident with the Kingfisher anomaly, and the company has entered into land access agreements over key conductive parts of the Kingfisher anomaly area and will commence further exploration immediately.”

Bora Bora explained it is currently commissioning a ground geophysical survey over the Kingfisher prospect and Queens graphite mine areas with the aim to delineate detailed information on individual graphite vein structures.

The company said it expects these results to optimise the planned drilling program, for which it is in the process of securing a drill rig to commence drilling as soon as possible at the Kingsfisher prospect, as well as at the Queens graphite mine where it is undertaking due diligence.

Website: www.boraboraresources.com.au