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Comet Resources Ltd

Comet Resources to explore large target adjacent to Springdale graphite resource

The new target hosts a potential large fold-repeat of graphite-bearing stratigraphy identified in regional aeromagnetics.

Map of project location
The Springdale project lies on Western Australia’s south coast

Comet Resources Limited (ASX:CRL) has identified a large graphite exploration target adjacent to the existing resource at the Springdale Graphite Project in southern Western Australia.

With the new target appearing to be a repeat of the graphite-bearing stratigraphy that hosts the resource, Comet is confident of building on the Springdale asset.

The project already has an inferred resource of 15.6 million tonnes at 6% Total Graphitic Carbon (TGC), including a high-grade portion of 2.6 million tonnes at 17.5% TGC.

READ: Comet Resources discovers two high-grade graphite zones at Springdale project in WA

Most of the defined resources are within 60 metres of surface and more than 80% of prospective stratigraphy is yet to be drill-tested.

Comet Resources CEO, Philippa Leggat, commented: “We don’t yet know if we have found the highest-grade areas of graphite mineralisation at Springdale.

“The highest intercept of 1-metre at 48% TGC was returned in our February drilling program.”

Exploration drilling earlier this year identified two new high-grade graphite zones extending over a combined interpreted strike length of 8.5 kilometres.

The company’s exploration to date has focused on the fold closure of a northeast-southwest trending syncline.

Large scale potential

Recent interpretation of a regional aeromagnetic survey has highlighted a potential fold-repeat of graphite-bearing stratigraphy to the ENE of the existing resource.

The scale of the folding presents a target of about 7 square kilometres.

Potential fold repeat of graphite-bearing stratigraphy at Springdale shown in aeromagnetic image.

Comet’s ability to target shallow, high-grade graphite mineralisation using electromagnetic surveys (EM) was confirmed during the February drilling campaign with the discovery of two new zones.

READ: Comet Resources to define Springdale graphite potential as strategist takes on CEO role

Leggatt said: “The two new discoveries made in the program are outside the current resource and clearly confirmed the potential to use EM to target the high-grade zones near surface, and that is really quite exciting.

“We already have an inferred resource of 2.6 million tonnes at 17.5% TGC on less than 10% of our licence, mostly within 60 metres of surface, and this is before we look at the potential that a fold repeat could deliver.”

EM targeting proves effective

Comet plans to use EM as a high-grade targeting tool to test the newly identified area.

Leggatt added: “Moving forward, we see EM helping to identify the highest grade in new areas and around the existing resource, so that we can cost-effectively upgrade the high-grade component of our project.”

The 100%-owned Springdale graphite project is about 30 kilometres east of Hopetoun and is on free hold land, with good access to infrastructure being within 150 kilometres of the port at Esperance via sealed roads.

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