Sarytogan Graphite Ltd (ASX:SGA) has fielded further high-grade drilling results from the Sarytogan Graphite Deposit in Central Kazakhstan with shares as much as 30.5% higher this morning to $0.30.
Thick high-grade graphite intersections have been returned for 14 diamond drill holes from the Central Graphite Zone (CGZ) in a previously sparsely drilled area of the 209 million tonnes at 28.5% total graphite content (TGC) inferred mineral resource.
Highlights
Significant intersections above 30% TGC or thicker than 60 metres include:
- 22.9 metres at 30.1% TGC from 16.2 metres including 5.1 metres at 35.5%;
- 25.1 metres at 34.0% from 17.9 metres including 17.9 metres at 37.1%;
- 69.6 metres at 25.5% from 20.2 metres including 4.7 metres at 37.7%;
- 15.9 metres at 32.1% from surface including 10 metres at 38.1%;
- 25.4 metres at 33.2% from surface including 5 metres at 36.6% and including 16.3 metres at 36.4%;
- 26.4 metres at 34.2% from surface including 12.4 metres at 37.8% and including 11.4 metres at 35.3%;
- 20.1 metres at 33.4% from surface including 8.4 metres at 36.4% and including 9.2 metres at 36.5%; and
- 74.1 metres at 29.1% from surface including 13.6 metres at 36.3%.
Resource estimate due soon
Drilling is on track to be completed later this month to enable an updated mineral resource estimate in the first quarter of 2023.
Metallurgical test-work optimisation is continuing at labs in Australia and Germany.
Sarytogan managing director Sean Gregory said: “The drilling results from the Sarytogan graphite deposit are continuing to impress and confirm Sarytogan’s status as a giant and exceptionally high-grade deposit.
“The drilling is nearing completion as planned and we are on track for a mineral resource upgrade in Q1 2023.
"This together with the metallurgical test-work optimisation underway in Germany and Australia will inform a scoping study planned for 2023.”
Next steps for Sarytogan
The company’s 2022 drilling campaign is drawing close to the finish line and results will continue to flow over the coming weeks.
The mineral resource estimate will be updated accordingly in the first quarter of 2023, with some areas sitting at the higher indicated mineral resource classification.
Metallurgical test-work optimisation at laboratories in Australia and Germany is also underway, working towards target battery anode specifications.