Comet Resources: Excellent Graphite Grades Achieved from Initial Metallurgical Test Work

Highlights:

• Final optimised flotation results achieve a total carbon (TC) grade of 96.9%
• Outstanding recovery of 92.5% of total TC in the sample
• Potential applications in high price graphite markets for anode material, and lubricants
• Further test work on graphene can now be advanced
• Due diligence work on Santa Teresa High Grade Gold Project progressing

Comet Resources Ltd (Comet or the Company) (ASX:CRL) is pleased provide the results of metallurgical test work recently completed on material from the diamond drilling program at the Springdale Graphite Project in Western Australia in 2019. Both excellent grade and recoveries were achieved, demonstrating the potential to produce high value graphite products from the project. Further test work on end uses for the product can now be advanced once a bulk sample of the concentrate is produced. The graphite concentrate produced has a unique and potentially very valuable characteristic in its size distribution, with 2/3 of the product passing the 38 µm screen. Generally, this size fraction of graphite is mainly a by-product of processing of larger flake fractions, which produces smaller size graphite, but this damages the flakes in the process, reducing their performance and value. Deposits that contain high quality ultra-fine graphite are uncommon, and as a result potential very valuable.

Comet Managing Director, Matthew O’Kane, commented, “The results of this test work, delivering a very high grade, with high recoveries and producing a very unique and potentially high value product, demonstrate the potential for an economic project at Springdale. While large flake graphite is paid a premium versus mid-size flake, high quality super fine products attract prices in excess of large flake, with battery anode spherical uncoated product at 25 microns attracting prices of US$2800/t and at 10 microns US$3800/t. Further test work will determine the amenability of the Springdale product for these anode applications. In parallel with this test work we are continuing to advance the due diligence work on the Santa Teresa High Grade Gold Project and preparation for the initial drill program at the Barraba Copper Project. ”

To read the full press release, click here.

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