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Comet Resources Ltd intersects more graphite at Springdale project


Comet Resources Ltd (ASX:CRL) has completed a drilling program to define the strike extension of a newly discovered graphite zone at the Springdale project near Hopetoun in Western Australia.

The company is awaiting assay results for the program which consisted of four diamond drill holes for 282 metres and 103 aircore holes for 2,577 metres.

All four diamond holes intersected graphite mineralisation with widths over 10 metres.

All cores are currently in the laboratory for core cutting and sampling. These cores will also be used for metallurgical test work.

Additionally, graphite has been logged in 40 holes (to be confirmed by assaying) of the 103 aircore holes.

The Springdale project is part of the Albany-Frazer Orogen which hosts the historic Halberts Graphite mine near Munglinup.

The Munglinup area has produced the bulk of Western Australia’s recorded graphite production.

Comet conducted a first pass aircore drilling program at Springdale in February 2016, drilling a total of 11 holes for 324 metres.

A significant intersection from this program assayed 7 metres at 12.6% graphitic carbon from 26 metres depth.

Comet’s share price has doubled during the past six months, last trading at $0.04.


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Quick facts: Comet Resources Ltd

Price: 0.025 AUD

Market: ASX
Market Cap: $6.94 m

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