Syrah Resources Provides Update on Balama Project

Syrah Resources (ASX:SYR) provided an update on the progress at the Balama Graphite and Vanadium Project in Mozambique. Drilling has commenced and a Scoping Study is expected to be completed in early 2013. The Environmental and Social Impact Assessment is expected to commence shortly.

As quoted in the press release:

Twenty three diamond drill holes and 11 trenches were used to support the recently released Exploration Target* of 700-900Mt @ 10%-11% TGC and 0.2%-0.3% V2O5. As previously noted, the Balama deposit has extensive zones of graphite grading between 15% and 20% TGC and vanadium grading at 0.5% V2O5.

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