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- Quantum Graphite (QGL) has provided an update on work at its Uley 2 drilling program in South Australia
- At the end of last month, the company announced the approval of plans for an extensional drilling program at Uley 2 that will aim to increase the JORC 2012 reserves and resources
- Today QGL confirmed the scope of the extension drilling program which will be divided into two stages across the south and east parts of the existing Uley 2 pit
- The company has used extensive geophysical survey data combined with the structural data from the 2014 drill program to plan the drill hole locations
- Quantum is finalising the scope of further exploration at one other graphite envelope and plans to provide an announcement once this work is complete
- Shares are currently suspended from trading and last traded at 5.1 cents per share
Quantum Graphite (QGL) has provided an update on work at its Uley 2 drilling program in South Australia.
Uley 2 is located 23 kilometres southwest of Port Lincoln on the Eyre Peninsula and sits within the greater Uley Graphite Project, which consists of five wholly-owned tenements.
At the end of last month, the company announced the approval of plans for an extensional drilling program at Uley 2 that will aim to increase the JORC 2012
reserves and resources.
It also stated that exploration activities would continue over its extensive exploration licence, EL6224.
The board approved the plans with excitement as it represents the first extensive drilling beyond the Uley deposit since work was undertaken by Rio Tinto (CRA Explorations) in the 1980s.
Today, QGL confirmed the scope of the extension drilling program which will be divided into two stages.
Firstly, drilling will cover the southerly extension of the existing Uley 2 pit location, the Central Conductor. Stage two will cover the Eastern Conductor.
The company has relied on extensive geophysical survey data combined with the structural data from the 2014 drill program to plan the drill hole locations.
Drill holes for stage one will be spaced at 50-metre intervals, compared to the 25-metre intervals of the 2014 program. However, the program will remain consistent with the 2014 program in testing the outer boundaries of mineralised areas indicated by the geophysical model.
The drill holes for stage two will also be spaced 50 metres apart and the company said it’s likely the holes will be situated in the northern half of the eastern conductor, due to the ready access from the Uley 2 pit.
Quantum is finalising the scope of further exploration at one other graphite envelope within EL 6224 and plans to provide an announcement once this work is completed.
Quantum Graphite’s shares are currently suspended from trading and last traded at 5.1 cents per share.
