Syrah Resources drills 10 of 14 graphite prospecting holes in Mozambique

6 July 2012

Australian company Syrah Resources has been moving ahead with its graphite prospecting project in Balama, Mozambique, and has so far completed the tenth of 14-hole programme to calculate the size of the resource, the company said in a statement issued Thursday.

Noting that the 11th hole had begun to be drilled, Syrah Resources said that the 10 holes drilled so far had intersected graphite mineralisation “from start to finish,” of potentially high quality.

The company also said that an estimate of available reserves and of the quality of the graphite may only be available in a few months’ time.

Syrah Resources has been selling off its non-strategic assets in order to focus on graphite assets in Africa, particularly the Balama project in Mozambique.

The Balama project, in Mozambique, is already proven, via metallurgical tests, to have more and higher quality potential reserves than other graphite deposits in Canada, Europe and Australia. (macauhub)