The results concluded the presence of additional flake graphite mineralization with initial assay grades up to 47.1% graphitic carbon.
It also confirmed the presence of the previously known graphite deposits at or near the surface and now to 121m down hole and that the unit hosting mineralization is deeply weathered and amenable to the company’s planned free-dig open pit style mining operation.
The infill drilling campaign was carried out across the area of the established JORC (2012) Mineral Resource over the last two months and the assay results are due to be received in the coming weeks.
Valence Industries said: "Geological remodelling of the relationship between the previously known area of mineralisation and the newly identified mineralised zone is in its early stages.
"Nonetheless, that early remodelling indicates that the new zone forms a continuous horizon hosted in an intrusive pegmatite."
