Syrah Resources Releases Quarterly Report

Syrah Resources (ASX:SYR) released their Quarterly Report for the period that ended on December 31, 2012. Balama West is the largest known graphite deposit in the world and the vanadium resources exceeds that of the world’s largest operating vanadium deposit in South Africa. A maiden mineral resource was announced for the Balama West property and Balama East has an Exploration Target of 300-400 million tonnes at 11% TGC and 0.30% V2O5.

As quoted in the press release:

Highlights:

• Maiden mineral resource announced for Balama West

– Global Inferred Resource of 564 million tonnes at 9.8% Total Graphitic Carbon (TGC) and 0.21% V2O5
– Combined high grade zones of 157 million tonnes at 17.1% TGC and 0.43% V2O5

• Balama East has an Exploration Target* of 300-400 million tonnes at 11% TGC and 0.30% V2O5
• Discussions commenced with graphite buyers. One buyer has tested Balama graphite ore and produced an average concentrate grade of 97.3% total graphitic carbon

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