Comet Resources Claims Western Australia High-Grade Graphite Discovery

THE DRILL SERGEANT: Comet Resources (ASX: CRL) claimed a new graphite discovery at the company’s Springdale graphite project, east of Hopetoun in Western Australia.

Comet Resources said the new high-grade graphite discovery, along with the Western Zone, discovered in 2016, and the Eastern Zone, discovered in 2017, demonstrates the prospectivity of the Springdale project.

The company completed a reverse circulation (RC) drill program consisting 93 shallow, reconnaissance style, RC holes designed to test aeromagnetic targets.

The drilling was carried out between December 2017 and February 2018, resulting in the discovery of a new high-grade graphite horizon in the northern fold closure, known as the Northern Zone.

Highlights from the drilling to date include:

HR0057
9m at 5.9 per cent TGC (total graphitic carbon) from 3m;

HR0060
20m at 19.3 per cent TGC from 30m, including 13m at 25.8 per cent TGC and 2m at 19.3 per cent TGC mineralised to end of hole;

HR0061
7m at 16.3 per cent TGC from 15m, including 3m at 35.1 per cent TGC; and
15m at 7.3 per cent TGC from 24m, including 2m at 23.1 per cent TGC and 2m at 16.1 per cent TGC;

HR0062
6m at 6.1 per cent TGC from 4m; and
14m at 7 per cent TGC from 23m, including 2m at 17.3 per cent TGC and 2m at 15.5 per cent TGC; and

HR0063
10m at 10.1 per cent TGC from 29m, including 2m at 18.2 per cent TGC, 1m at 17.2 per cent TGC and 2m at 17.8 per cent TGC.

“Numerous assay results are expected over the coming weeks and will be announced after interpertation has been completed,” Comet Resources explained in its ASX announcement.

“The discovery demonstrates the potential for the Springdale project area.”

Comet outlined its plans to progress the assessment of the graphite and graphene at the Springdale project, including a geological/structural interpretation – that will review drill results with aeromagnetic data to identify the most prospective stratigraphic horizons.

The company expects this will generate new targets and focus drilling on existing targets.

A diamond drill program will be planned to follow up high-grade intersection to provide samples for metallurgical testwork and information to move the geological understanding forward.

Metallurgical testwork will continue on existing and newly generated diamond core as the company develops a better understanding of the amenability of the graphite at Springdale to convert to graphene or be used in battery and other technologies is an integral part of understanding and realising its commercial value.

 

Email: comet@cometres.com.au

Website: www.cometres.com.au