Comet Resources Limited (ASX: CRL) – $0.020

06 Apr 2016

Comet Resources Limited (ASX: CRL) has discovered graphite mineralisation at the Springdale Graphite Project approximately 30km east of Hopetoun in southern Western Australia.

 

During February the company conducted a first pass aircore drilling program with a total of 11 drillholes for 324 metres completed. The program was designed to test and define previously recorded graphite mineralisation in the prospective zones.

 

Significant intersections include:

 

  • H01A – 7.0 metres at 12.6% graphitic carbon from 26.0 metres to end of hole;
  • H03 – 2.0 metres at 11.5% graphitic carbon from 28.0 metres to end of hole;
  • H06 – 8.0 metres at 12.4% graphitic carbon from 16.0 metres;
  • H10 – 25.0 metres at 4.0% graphitic carbon from 6.0 metres (Figure 1).

 

CRL Springdale graphite chips

Figure 1. Rock chip samples from drillhole H10

 

 

The tenement lies within the deformed southern margin of the Yilgarn Craton and comprises part of the Albany-Frazer Orogen that hosts the historic Halberts Graphite mine near Munglinup approximately 50km from the project area.

 

The company’s next phase of exploration includes investigating the unexplored remnant Archean greenstone belt that also underlies the Springdale Project.

 

 

For further information, visit www.cometres.com.au

 

 

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