Lamboo Resources Ltd. (ASX:LMB) announced that it has received channel chip sampling results from five prospects at its South Korea-based Geumam flake graphite project, commenting that assays reached 18.9-percent graphitic carbon over 20 meters.

The company’s press release notes that some advantages of operating in South Korea are:

• Favourable geology, with world class graphite deposits situated in the North China craton. 
• Close proximity to the largest markets for graphite in North Asia (China, Japan and South Korea).
• Minimal transportation freight costs.
• Low sovereign risk for investments.

Richard Trevillion, managing director at Lamboo, commented:

These are excellent results and have enhanced our confidence of significantly increasing the current JORC compliant resource at the Geumam Project of 200,000 tonnes at 10% Cg.

Click here to read the full Lamboo Resources Ltd. (ASX:LMB) press release.