The ten-hole program, which has now been completed, totalled 1,362 metres of drilling across the Duwi and Nanzeka Prospects [average 136m per hole - pretty deep]
Samples have been dispatched for laboratory analysis with results to be released as they become available.
The Company has now identified six prime, large, high grade, flake graphite targets through sampling and mapping at Duwi, Ukonde, Chipili, Nyama and Lilongwe River Prospects forming the Duwi Trend in EPL0372 and the Nanzeka Prospect in EPL0355.
Large areas of the CMGP remain unexplored to date. The Heli-VTEM Survey of 4,116 line kilometres, covered a significant area of the CMGP in order assess historically known graphite prospects, and attempt to identify new areas of graphite mineralisation. Interpretation of results from the survey (refer ASX announcement 23 January 2013) identified at least 31 new, high priority conductors and the Company has begun field work in order to systematically confirm the existence of graphite mineralisation at these targets.
Continuous high grade mineralisation has now been identified over a cumulative strike length of greater than 24km in the Duwi Trend.
The Duwi Prospect has dimensions of about 2.5km in length and on average, about 200m in cumulative surface width
initial drilling campaign at the Duwi Prospect, comprising seven (7) diamond drill holes. Samples have been sent for laboratory analysis and to MINTEK Johannesburg
the Company drilled three (3) diamond drill holes at the Nanzeka Prospect
Nanzeka in late 2012 delineated two flake graphite zones over a combined strike length of 2.0km, with individual zones ranging between 10m and 150m in surface width
Cash at end of quarter $2,083,000
Estimated cash outflows for next quarter $880,000
SVM Price at posting:
10.0¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)