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- Castle Minerals (CDT) wraps up drilling at its Kambale graphite project in Ghana ahead of a maiden mineral resource estimate
- The company’s drilling team worked through the Christmas period to complete the 30-hole, 2,290 metre reverse circulation drilling program
- This round of work was completed to better define previously identified graphitic zones as well as facilitate a maiden mineral resource estimate
- CDT also sent core samples for metallurgical testing which is hoped to confirm whether a commercial grade concentrate can be produced for use in EV batteries
- Shares in CDT are up 2.38 per cent trading at 2.2 cents at 10:22am AEDT
Castle Minerals (CDT) has wrapped up drilling at its Kambale graphite project in Ghana ahead of a maiden mineral resource estimate.
The company’s drilling team worked through the Christmas period to complete the 30-hole, 2,290 metre reverse circulation drilling program.
This round of work was completed to better define high grade zones intercepted in previous drilling that extended the deposit’s footprint to 2.5 kilometres north-south and intercepted multiple graphitic zones.
Additionally, the company will use the assay results from this round of drilling to facilitate a maiden mineral resource estimate scheduled for delivery around the end of this quarter.
At the same time, around 300 kilograms of half core samples from a four-hole 365 metre diamond drilling program have been sent for metallurgical testing.
Through this test work, Castle’s Managing Director, Stephen Stone, said the company is hoping to confirm whether a commercial grade concentrate can be produced and then evaluated for use in the manufacturing of electric vehicle battery anodes.
“It’s going to be a very interesting year for the project, underpinned by the many forecasts for a looming graphite supply deficit on the back of the predicted increase in worldwide sales of electric vehicles and stationary power storage units,” Mr Stone said.
Subject to the success of the test work, the mineral resource estimate and other related studies and commercial factors, a development scoping study will be considered for the second quarter of 2023.
Shares in CDT were up 2.38 per cent trading at 2.2 cents at 10:22am AEDT.
