Bora Bora Resources (ASX: BBR) has received all approvals to proceed with its planned airborne electromagnetic surveys across the Matale Graphite Project and North and South Paragoda Projects in Sri Lanka.
Sri Lanka hosts some of the world’s highest grade graphite – averaging 90% total graphitic carbon (TGC). The global average grade is 15% TGC.
These projects are located 25 kilometres south of the Kahatagaha-Kolongaha Graphite Mine in Sri Lanka, which has been in production since 1872 and produced more than 300,000 tonnes of graphite at grades of 90% or more.
Bora Bora has commissioned Geotech Airborne Limited to fly a minimum of 220 square kilometres of Versatile Time Domain Electromagnetic (VTEM) surveys across the Projects.
The survey is expected to begin in two weeks.
Sri Lanka historically has never been explored using modern exploration techniques, giving the company first mover advantage in a geological setting with the highest known grades of graphite in the world.
The company holds close to 200 square kilometres of exploration licences in Sri Lanka.
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