this should increase the value of CRL shares and why should there be a discounted rate for raising cash.
Huge Mineral Resource increase ranks Springdale
second largest graphite deposit in Australia
HIGHLIGHTS
▪ Total Springdale Mineral Resource estimate grows from 15.3Mt @ 6.0% Total Graphitic
Carbon (TGC) to 49.3Mt @ 6.5% TGC1
:
▪ Indicated category – 11.5Mt @ 7.5% TGC
▪ Inferred category – 37.8Mt @ 6.1% TGC
▪ At 5% TGC cut-off, Mineral Resource estimate is 28.0Mt @ 8.7% TGC:
▪ Indicated category – 7.9Mt @ 9.3% TGC
▪ Inferred category – 20.1Mt @ 8.5% TGC
▪ Only ~10% of tenement area explored and ~20% of exploration targets tested to date
▪ 27% of Mineral Resource classified as Indicated – sufficient for long term mine planning
▪ More than 10% contributed by new graphite discovery at Mason Bay – 2km east of the
original Springdale Mineral Resource
▪ Fine flake mineralisation – ideally suited for battery anode materials and the lithium-ion battery
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