Comet Resources Discovers Two High-Grade Graphite Zones

THE DRILL SERGEANT: Comet Resources (ASX: CRL) announced discovery of two new, high-grade, graphite zones at the company’s 100 per cent-owned Springdale graphite project in Western Australia.

Comet Resources explained the new zones were discovered following a reconnaissance drill program targeting a series of electromagnetic (EM) anomalies along strike from a recently announced maiden Resource.

The company considers the two new graphite zones of some note as they host high-grade, near-surface mineralisation it believes has the potential to extend over several kilometres of strike.

The newly identified zones also confirm a strong correlation between high-grade graphite and the numerous EM anomalies identified by recent geophysical surveys.

High-grade intercepts include:

10 metres at 16.1 per cent total graphitic carbon (TGC) from 40m, including 7m at 21.6 per cent TGC; and

7m at 18.44 per cent TGC from 34m and 6m at 26.53 per cent TGC from 53m.

Comet suggested the discoveries suggest have potential to grow the current resource base with drilling confirming a strong correlation between EM anomalies and high-grade graphite horizons, improving future drill targeting.

“The shallow nature of the mineralisation in conjunction with the ability to use electromagnetic surveys to target high-grade mineralisation will aid our ability to cost-effectively increase the size of and certainty around our Resources,” Comet Resources CEO Philippa Leggat said in the company’s announcement to the Australian Securities Exchange.

“We are pleased with the new, high-grade discoveries and have Tony Cooper, my predecessor, to thank for his work in identifying the Springdale graphite project.

“He has developed a solid technical base for us to transition the project into the next stage of development.”