MRF first hole penetrated two veins on the northern flank of a high grade "river of graphite". The first three holes form a fence that cross to the southern flank of the "river" over a distance of over 400 metres that cover a historic vein graphite mining camp filled with small pits, shafts, and a decline that extended to a depth of 30 metres.
This area was historically mined (to a depth of 30 metres) because the graphite came to the surface and was easy to extract.
IF we directly compare with SYR or TON then we can guesstimate a conceptual tonnage target of anywhere from 50 - 250 million tonnes that may extend to a depth of 300 metres (typical in Sri Lanka) and strike extent of 1,000 metres (needs to be proven by the drill bit).
The difference between the MRF deposit is that the graphite has been emplaced within the "river" in high grade veins whereas the SYR and TON deposits are disseminated throughout the material. The difference can be compared with a disseminated open pit gold deposit which needs hundreds of millions of dollars in drilling, technical studies and plant construction for SYR and TON and a high grade vein deposit that needs minimal capital and can be put into production as soon as permitting is completed and mine labour trained for MRF.
A good comparison for MRF is MML (Medusa) which developed a high grade gold mine using local labour and low CAPEX and OPEX. Good luck to all longs.
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