Thickest graphite intersections to date has Renascor upgrading pit design and mining study
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The latest drilling results from Renascor Resources’ Siviour Graphite Project in South Australia have returned the thickest and highest-grade graphite to date.
Siviour is currently the second largest reported Proven Graphite Reserve in the world and the largest graphite reserve outside Africa, supporting a 40-year mine life with production of graphite concentrates of up to 150,000 tonne per annum.
And these near-surface, thick and high-grade intercepts are primarily from areas to the immediate west of the existing pit design and inferred resource, which Renascor Resources (ASX:RNU) says suggests strong potential to both improve the mine schedule and increase the scale and confidence level of the Siviour resource.
The drill results will be incorporated into a revised pit design and mining schedule as part of Renascor’s optimised Battery Anode Material Study (BAM Study), with the potential to reduce mining costs and increase the volume of graphitic ore mined.
“These results include near-surface intersections of some of the thickest and highest grade graphite drilled to date, underscoring Siviour’s global significance and advantages in both scale and geometry,” MD David Christensen said.
“We expect these results to support both an improved and accelerated mining schedule, as well as an expansion to the Siviour Resource to meet the increasing demand for Purified Spherical Graphite for lithium-ion battery anodes.”
The results will also permit the calculation of a revised Mineral Resource Estimate, expected to be completed in the current quarter.
This article was developed in collaboration with Renascor Resources, 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.