Boss Resources (ASX:BOE) has received assay results for...

Boss Resources (ASX:BOE) has received assay results for intervals of the graphite mineralisation intersected by drillhole Boss-2 at the Skogtrask Project located in northeast Sweden.

Of 70 metres graphitic shale visually identified, 28 metres were submitted for assay to determine grade in advance of any further testing.

Results have confirmed an average grade of mineralisation of 6.85% Graphitic Carbon with mineralisation up to 11.7%.

Graphite bearing pelitic shales were encountered in the interval from 240.3 metres to 310.5 metres in drillhole Boss-2 of the company’s maiden drill program conducted on the Skogtrask Project in July 2014.

The drill program was designed to test depth extensions of existing nickel-copper mineralisation and to intersect electromagnetic conductors identified.

Boss-2 was oriented to intersect the strongest part of the conductor down dip of historic mineralisation, and the source of this anomaly was explained by the presence of the graphitic shales which were initially identified on visual inspection of the core.

True thickness of the graphite-bearing sequence is not known due to the end of hole remaining mineralised with the graphite-bearing unit remaining open at a depth of 310.5 metres.

Boss is currently exploring in the Skogtrask area for nickel-copper sulphides associated with mafic-ultramafic intrusions as well as IOCG deposits.

The discovery of the graphite mineralisation represents an additional exploration opportunity in the license area, allowing Boss to diversify the exploration programs.

This increases the overall prospectivity of the area for discovery of the economically viable mineralisation.

Recent work by Talga Resources (ASX:TLG) has shown that some graphite occurrences in northern Sweden are commercially significant for graphite and graphene production.

Boss is currently exploring 3 prospective projects in Scandinavia, and all have intersected shallow semi-massive sulphide mineralisation in historic drilling and are located close to extensive existing infrastructure allowing low cost evaluation.

Boss has also entered into a joint venture with Gryphon Minerals (ASX:GRY) whereby Gryphon is sole funding exploration on Boss’ gold projects in Burkina Faso to a decision to mine.

This enables Boss to retain exposure to its gold assets whilst focusing its efforts on its other projects. Boss remains fully funded with $2 million in cash to enable it to continue exploration in Scandinavia.