THE DRILL SERGEANT: Renascor Resources (ASX: RNU) reported assay results from the first 36 holes of a recently completed Definitive Feasibility Study (DFS) drilling program on the company’s saviour graphite project in South Australia.
Renascor Resources said the drill assays received from this initial batch of holes intersected additional near-surface, high-grade graphite, which it considers to further demonstrate continuity of widespread, shallow and high-grade graphite within the Siviour Indicated Resource where Renascor expects to place the initial pit.
From this area, the results included several wide intersections of graphite from within approximately 10 metres of the surface, including:
25m at 14 per cent total graphitic carbon (TGC) from 12m;
33m at 8.9 per cent TGC from 11m;
24m at 10.2 per cent TGC from 26m;
24m at 9.5 per cent TGC from 8m; and
23m at 9.4 per cent TGC from 8m.
“These drill results are another important step in de-risking the Siviour graphite project as we move through our Definitive Feasibility Study work programs and progress to our goal of establishing a globally significant graphite mine,” Renascor Resources managing director David Christensen said in the company’s announcement to the Australian Securities Exchange.
“We are particularly pleased that these assays include several wide intervals of high-grade graphite that are very close to the surface, as this offers further evidence that Siviour will benefit from low mining costs and, in turn, low operating costs.”