Ceylon Graphite Announces Large New Graphite Veins Discovered

Ceylon Graphite Corp. (“Ceylon Graphite” or the “Company”) (TSX-V:CYL) (OTC:CYLYF) (FSE:CCY) today announced the discovery of two new large graphite veins at a depth of over 200 ft at their K1 site. Each vein is around 18 inches (46 cm) across and is situated in ceiling of a drive on the Northside of the tunnel.

As quoted in the press release:

Bharat Parashar, Chief Executive Officer, states: “This new find of high quality graphite of significant size is just a continuation of our normal work process as we continue to increase our exploration activities underground. The next steps include: 1) the purchase of an underground drilling machine (in discussions with suppliers), 2) drilling along the veins to ascertain the quantum of resource available; and 3) completing the mining license application process.  With the discovery of four reasonably large sized veins, we are now close to being a near-term graphite producer of some of the world’s purest naturally occurring graphite.”

Click here for the full text release