Strike’s tenement is immediately adjacent to the Mt Dromedary Graphite Project, one of highest-grade flake graphite deposits in the world, being developed by Graphitecorp (ASX:GRA).
The graphite flakes within Strike’s tenement were found to have two distinct populations, being massive large to jumbo flake sizes together with a fine amorphous to small flake ground mass.
Flake sizes over 1,000 micrometres were observed within the sampled petrography thin sections.
Jumbo Flake graphite typically attracts a premium price compared to smaller flake sizes, as larger flake sizes are more suitable for making lithium-ion battery anodes.
Strike is planning to commence drilling towards the end of April 2017 with the principal objective of drill testing the geologically mapped high grade graphite zones.
This is for the purpose of determining the width, dip and depth of the underlying graphitic body, as well as the distribution of the higher value jumbo flake graphite.
Strike is planning circa 1,000 metres of drilling in the initial phase.
The company’s share price increased by 37% during the past six months, last trading at $0.063.