- Renascor Resources (RNU) extends its Siviour graphite deposit in South Australia by three kilometres after drilling confirmed the continuity of widespread, high-grade graphite
- Significant intersections include 47 metres at 7.6 per cent TGC from 78 metres and 38 metres at 6.6 per cent TGC from 91 metres
- The company’s Siviour Graphite deposit is the world’s largest reported reserve outside of Africa, and the second-largest proven reserve globally
- Renascor expects the results will optimise extensions to its ongoing BAM Study as it plans to reveal an update to its MRE later this quarter
- RNU shares are up 3.95 per cent and trading at 19.8 cents at 2:28 pm AEST
Renascor Resources (RNU) has extended its Siviour graphite deposit in South Australia by three kilometres after drilling confirmed the continuity of widespread, high-grade graphite.
The company confirmed it has now received all the assays from its recently completed resource expansion drill program.
Significant intersections included 47 metres at 7.6 per cent total graphitic carbon (TGC) from 78 metres and 38 metres at 6.6 per cent TGC from 91 metres.
Other intersections included 26 metres at 9 per cent TGC from 70 metres, including 7 metres at 14.1 per cent TGC from 79 metres.
Renascor’s Siviour Graphite deposit in South Australia is currently the world’s largest reported reserve outside of Africa, and the second-largest proven reserve globally.
“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,” RNU Managing Director 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.”
Renascor expects an update to the MRE later this quarter as well as updates to its optimised BAM study.
RNU shares were up 3.95 per cent and trading at 19.8 cents at 2:28 pm AEST.