Renascor’s latest round of drilling confirms major extension to Siviour graphite deposit
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Results from Renascor Resources’ drilling program at the Siviour graphite project in South Australia has confirmed widespread, high-grade graphite mineralisation over an area extending over 3 km immediately north of the resource.
Siviour is currently the world’s largest reported Reserve outside of Africa and the second largest Proven Reserve globally.
The company believes the new drilling offers potential for a significant increase to the resource and to support extensions to the current pit design for future expansions beyond the capacity being currently being considered under the updated, optimised Battery Anode Material Study (BAM Study) – which is flagged for completion later this month.
Notable intersections include:
An updated mineral resource estimate is expected later this quarter.
The results from the recent drilling suggests the potential to extend the current mine plan into the northwestern extension of the Siviour mineral resource, and also hints at the potential for efficiencies in mine scheduling by extending the initial mining pits for continued and efficient mining from the current pit limits in the mine plan.
“The drill results continue to add to the world-class quality of the Siviour Graphite Deposit and demonstrate the unique potential of an abundance of near-surface, high- grade graphite in a single ore body,” Renascor Resources (ASX:RNU) MD David Christensen said.
“We expect that these results will support further extensions to the current pit design for future capacity expansions beyond those being considered in the optimised BAM Study, as well as to offer the potential for a significant increase to the Siviour Mineral Resource.”
The results from this recent drill program are now being incorporated into a revised geological interpretation and will be used update the resource model, with an updated mineral resource estimate expected later this quarter.
Sample material obtained from the diamond drilling will also be used in metallurgical testwork.
This article was developed in collaboration with Renascor Resources Limited, 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.