Bopitiya target is identified as a graphite target from many...

Bopitiya target is identified as a graphite target from many historical shafts and upgraded adit. Surface TEM work confirms the presence of graphite within a few metres of surface, and (along with other studies) over a strike of approximately 400 metres.

Assuming a strike of 400 metres x vein width of 1 metre and depth extension of 100 metres and 7 separate veins we have a speculative conceptual target of 180,000 tonnes of graphite. Assuming a width of 2 metres equates to 360,000 tonnes. Historic production within Sri Lanka has identified graphite vein at a depth of around 600 metres, so conceptually you may be able to multiply the resource estimate six times (after drilling confirmation).

Pandenyia has a strike length of 200 metres with 2 separate vein systems. So applying the same conceptual estimates of 26,000 tonnes to 52,000 tonnes of graphite to a depth of 100 metres. Conceptual potential to a depth of 600 metres? provides significant upside.

Development of the Bopitiya into graphite mineralisation provides near term production potential that can provide cash flow to develop a significant production capacity at very low CAPEX.

Good luck to all longs