Approval on EL/211 and EL/212 comes after completion of a significant work over the initial term and allows the company to commence exploration on the newly discovered Kingfisher prospect.

Bora Bora Resources is planning to conduct a ground geophysics survey and drilling program at Kingfisher, to test the potential for graphite mineralization.

To date, the Kingfisher prospect is cleared to provide access for a detailed geophysics survey.

Meanwhile, the company has completed the second tranche of its $3.5 million placement. The proceeds will be used towards exploration program in Sri Lanka.

The Matale/Kurunegala project is located on the tenements surrounding the Kahatagaha graphite mine, which is said to host more than 300,000 tons of graphite at over 90% total graphitic carbon.