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 market
CRL Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
