Test on samples from recent drilling at the BGC1 Prospect and G34 has identified graphite concentrate grades above 90%.
At the BGC1 target, the graphite was intersected from 240 to 286m. The mineralization meets the position and depth of the EM Conductor modelled from the HELITEM survey data, the company said.
At G34, the 1.6m of mineralization was identified at the rate of 4.67% graphitic carbon.
Although no further drilling was carried out, the potential for graphite mineralization is based on the geophysical response, the company said.
TNG managing director Paul Burton said: "The achievement of graphite grades in concentrate of >90% TCG via simple and low-cost flotation techniques is an important breakthrough for our ongoing assessment of the graphite potential at Mount Peake.
"The potential size of the mineralised zone is significant based on the geophysical outline and it would make sense to assess this further once we have commenced operations at the main Mount Peake deposit."
Mineral Engineering Technical Services has been appointed to determine if the graphite from Mount Peake could form a saleable concentrate.
