Comet Resources Extends Springdale Eastern Zone Mineralisation

THE DRILL SERGEANT: Comet Resources announced results from drilling carried out on the Eastern and Northern zones of the company’s 100 per cent-owned Springdale graphite project, located east of Hopetoun in Western Australia.

Comet Resources completed a detailed aeromagnetic survey over the Springdale graphite project last year that delineated 26 kilometres of stratigraphy the company deemed to be prospective for graphite mineralisation.

Amongst these high-priority targets was a 1.5km long magnetic low associated with previously encountered high-grade mineralisation from drillhole HD018.

The recent drilling has extended this mineralisation over 800 metres of strike that is open along strike and at depth.

High-grade graphite mineralisation (>20% TGC) was defined for a strike of 500m.

Assay highlights include:

12 metres at 12.2 per cent total graphitic carbon (TGC) from 26m, including 5m at 23.1 per cent TGC (160m north of HD018);

6m at 9.5 per cent TGC from 38m, including 2m at 16.2 per cent TGC and 6m at 18.3 per cent TGC from 47m, including 5m at 21.7 per cent TGC (320m south of HD018);

5m at 11.3 per cent TGC from 24m, including 4m at 13.7 per cent TGC and 16m at 10.8 per cent TGC from 42m, including 7m at 17.5 per cent TGC; and

18m at 5.4 per cent TGC from 1m, including 1m at 15.5 per cent TGC and 5m at 13.6 per cent TGC from 69m, including 3m at 20 per cent TGC and 3m at 19.8 per cent TGC from 82m and 2m at 6.1 per cent TGC from 89m.

Comet identified the Northern Zone through previous reconnaissance RC drill testing of an interpreted fold closure.

The Northern Zone is also open at depth and along strike.

Latest assay highlights include:

9m at 5.9 per cent TGC from 3m;

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

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;

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

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

“The extension of high graphite mineralisation in the Eastern Zone for a strike of 500 metres and the new discovery of high-grade graphite mineralisation at the Northern Zone further confirms the potential of the Springdale project area,” Comet Resources said in its ASX announcement.