• 26 holes for 2,660m of a 46-hole, 4,800m RC drilling campaign completed.
• Good correlation between the presence of observed graphitic schists in holes targeted to intersect high-priority EM conductivity zones.
• Graphitic schists intersected in areas not drilled before is very encouraging.
• RC drilling expected to be completed by mid-July.
• Samples will be prepared in Ghana and flown to Perth for assaying.
• Sahara Mining Services appointed to provide independent QA / QC review and JORC Exploration Target range estimate.
• Test work proposal executed with IMO Pty Ltd, Perth.
• CSA Global retained to provide graphite specific technical assistance.
• Subject to assay results, a core drilling program will be designed to recover sufficient material for metallurgical test work and flow sheet development Perth.
• Market commentary continues to indicate continuing strong demand for graphite concentrates and products across most sector uses for the remainder of this decade and in particular the EV battery sector.
Castle Managing Director, Stephen Stone commented “Our expectation of being able to extend the footprint of the graphitic schist at the Kambale project is proving well-founded on the basis of early observations, having completed 26 holes for 2,660m of the current 46-hole, 4,800m planned.
We have appointed Ghana based Sahara Mining Services Limited to provide independent QA/QC and a JORC Exploration Target range estimate and IMO P/L, Perth, will undertake test work and sample concentrate production. CSA Global P/L, Perth has been retained to provide graphite specific technical assistance.
This is the perfect time to be advancing Kambale as indications are that the graphite concentrates market will remain very strong for several years to come on the back of the burgeoning production of electric vehicles and the new breed of power storage devices.”
Junior explorer and project incubator, Castle Minerals Limited (ASX: CDT) (“Castle” or the “Company”), advises 26 holes for 2,660m of the planned 46-hole, 4,800m RC drilling campaign at its Kambale graphite project, Ghana have been completed with early signs of a good correlation between high-priority EM conductivity zones and observed presence of graphitic schists in several holes in areas not previously drilled (“Project”)(refer ASX release 14 June 2022).
The drilling program is expected to be completed by mid-July with first assay results available in mid August. Samples will be prepared in Ghana and flown to Perth for analysis.
Ghana-based Sahara Mining Services has been appointed to provide independent in-country QA/QC review and a JORC Exploration Target range estimate.
Subject to observations and results, a diamond core drilling program will be designed to recover sufficient graphitic schist material for test work and flow sheet development. This is to be undertaken in Perth by IMO Pty Ltd, with whom a proposal has been executed.
CSA Global Pty Ltd, Perth, has been retained to provide specialist graphite specific peer review and technical guidance.
SOURCE: Castle Minerals
DATE: July 11, 2022