Castle Minerals Limited (ASX: CDT) has kicked-off a 35-hole, 4,100m RC drilling campaign at its flagship Kambale Graphite Project in Ghana.
The company recently delivered maiden Mineral Resource Estimate (MRE) of 15.6Mt at 9.0% TGC containing 1.41Mt of graphite.
A primary aim of the new programme will be to infill drill a considerable volume of mineralisation that did not qualify to be included in the maiden MRE. This includes mineralisation intersected by the successful first- pass testing of several HLEM geophysical survey conductors. The drilling will also look to extend along strike and to depth several of the well delineated graphitic lenses.
Drilling results are expected to be available in August whereupon an updated MRE will be undertaken by independent consultants, Palaris Australia Pty Ltd.
The updated MRE will underpin a Scoping Study that will evaluate the merits of a long-life mining operation producing at site a bulk fine-flake graphite concentrate and possibly higher-value derivative intermediate material for use in Battery Anode Material (BAM) manufacture.
Castle is excited to be a participant in the rapidly evolving electric vehicle and stationary battery industry of which graphite is a critical input as the world moves to achieve mandated clean energy targets,” Managing Director, Stephen Stone, said.
“We are looking to rapidly position the Kambale Graphite Project as a credible option for the delivery of a fine flake concentrate into a market for which a major supply deficit is widely predicted.
“We are confident that the 35-hole, 4,100m RC drilling programme that has just commenced, our third in the past 18 months, will materially increase the Mineral Resource Estimate of 15.6Mt at 9.0% TGC containing 1.41Mt of graphite to underpin a planned scoping study.”
