Mineral Commodities finds more high-grade graphite at Trælen
Link copied to
Graphite player Mineral Commodities has released new high-grade results from a 3000m down dip resource drilling program at its Trælen mine in Norway.
Best results include:
Graphite was intersected in all holes and drilling successfully encountered planned targets. Mineral Commodities (ASX:MRC) said the assay results confirm continuity of the Trælen mineralisation.
Not to mention the results show there’s potential to upgrade the mineral resource tonnes/classification – which the company said confirms Trælen as one of the world’s highest-grade operating graphite mines.
MRC plans to release an updated JORC resource at Trælen by the end of September and a maiden ore reserve by Q4 2021.
“The company maintains an aggressive strategy to increase value to shareholders via developing its portfolio of high value graphite exploration and mining assets,” acting CEO Russell Tipper said.
“Resource drilling in the Trælen mine is focused on increasing the volume and classification of the mineral resource estimate, with the intention of issuing a maiden ore reserve in the next quarter.
“The airborne surveys of our exploration tenure in Norway will provide information that can assist in developing exploration programs to identify the extent of commercial mineralisation that may occur on those tenements.”
The company plans to undertake an extensive, high-resolution, Unmanned Aerial Vehicle (UAV) Magnetic and Electromagnetic survey over the Bukken, Hesten and Vardfjellet graphite prospects in October.
The program is part of the collaboration with the EU Smart Exploration Project to develop geophysical methods and instruments to be used for environmentally friendly exploration at deeper exploitation depths with common Earth 3D geo-models.
And the survey will help optimise planning for a high-resolution 2D surface seismic to better understand the geological structural framework and drilling target delineation over the graphite prospects in 2022.
Along with its exploration activities, the company has also entered a memorandum of understanding with the Arctic University of Norway – the world’s northernmost university and the largest research and educational institution in northern Norway.
The parties will form a collaboration concerning the fields of ore geology, mineral resources research, environmental studies, education, and training and planning for Sami culture and indigenous studies.
This article was developed in collaboration with Mineral Commodities, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.