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Highlights:
- Bulk sample of Springdale graphite concentrate estimated to be completed in Q2 2021.
- Concentrate material will then be sent to Germany to test its amenability for the production of battery anode material suitable for use in EVs.
- Final test results expected in Q3 2021.
Comet Resources Ltd (ASX:CRL) is pleased provide an update on ongoing test work on natural flake graphite from its Springdale Graphite Project (Springdale) located in Western Australia. Both excellent grade and recoveries were achieved on initial tests, leading to commencement of work to produce a bulk sample for further testing. Importantly, the graphite concentrates previously produced demonstrated a unique and potentially very valuable characteristic in its small size distribution, with two-thirds of the product passing the 38 µm size fraction screen. Generally, this small size fraction of graphite is a by-product of processing of larger flake fractions, which produces smaller size graphite, but in doing so also damages the smaller flake material in the process, reducing their performance and value. Deposits that contain high quality ultra-fine graphite are uncommon and are potentially suitable for supplying the expanding battery anode market, which continues to grow as the sales of electric vehicles (EVs) increase. Graphite suitable for battery anode production also achieves premium pricing in graphite markets, making it a highly sought-after product.
Once the bulk sample of Springdale graphite concentrate is produced it will be forwarded to a specialist lab in Germany where they will assess, among other properties, the performance of the graphite during purification, micronisation and spheronisation. These are the key steps for the processing of natural graphite products for EV battery anode specification markets. Comet’s German lab partners will simulate these to test Springdale’s product suitability to meet industry standards in all of these areas.
Comet Managing Director, Matthew O’Kane, commented, “The results of this ongoing test work will determine the suitability of the natural flake graphite from Springdale for use in the manufacture of battery anodes for electric vehicles. Earlier tests have demonstrated the graphite from Springdale is quite a rare product due to its very small flake size, which could make it ideally suited for anode production. This next stage of specialised testing will hopefully confirm this.”
Further test work on the bulk sample of float concentrate in Germany is designed to assess the ability of the concentrate obtained by flotation to be converted into highly valuable, readily saleable products.
Three different processes are to be tested:
- Purification to carbon content above 99.9%, as these carbon levels pave the way for high tech applications like usage in batteries;
- Micronizing for products which require well defined small flake graphite particles for their end uses; and
- Spheronisation for usage in lithium-ion-battery anodes for the rapidly expanding market for EVs due to the global drive to de-carbonise the transport network.
These test work streams are designed to confirm the suitability of Springdale graphite as a precursor material for these high value-added products. We look forward to receiving the results from these work streams and will provide updates as soon as the information is available.
This announcement has been authorised by the Board of Comet Resources Limited
For further information please contact:
MATTHEW O’KANE
Managing Director
(08) 6489 1600
comet@cometres.com.au
cometres.com.au
Suite 9, 330 Churchill Avenue Subiaco WA 6008
PO Box 866 Subiaco WA 6904
About Comet Resources
Santa Teresa Gold Project (Mexico)
The Santa Teresa Gold Project is comprised of two mineral claims totalling 202 hectares located in the gold rich El Alamo district, approximately 100 km southeast of Ensenada, Baja California, Mexico; and 250 km southeast of San Diego, California, USA. The Project is prospective for high grade gold. In addition to the two claims of the Project, two additional claims totalling a further 378 hectares in the surrounding El Alamo district are being acquired from EARL.
Barraba Copper Project (NSW)
The 2,375ha exploration license that covers the project area, EL8492, is located near the town of Barraba, approximately 550km north of Sydney. It sits along the Peel Fault line and encompasses the historic Gulf Creek and Murchison copper mines. The region is known to host volcanogenic massive sulphide (VMS) style mineralisation containing copper, zinc, lead and precious metals. Historical workings at Gulf Creek produced high-grade copper and zinc for a short period around the turn of the 19th century, and this area will form a key part of the initial exploration focus.
Springdale Graphite Project (WA)
The 100% owned Springdale graphite project is located approximately 30 kilometres east of Hopetoun in south Western Australia. The project is situated on free hold land with good access to infrastructure, being within 150 kilometres of the port at Esperance via sealed roads. The tenements lie within the deformed southern margin of the Yilgarn Craton and constitute part of the Albany-Fraser Orogen. Comet owns 100% of the three tenement’s (E74/562 and E74/612) that make up the Springdale project, with a total land holding of approximately 198 square kilometres.
Forward-Looking Statement
This announcement includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Comet Resources Limited’s planned exploration programs, corporate activities and any, and all, statements that are not historical facts. When used in this document, words such as “could,” “plan,” “estimate,” “expect,” “intend,” “may”, “potential,” “should” and similar expressions are forward-looking statements. Comet Resources Limited believes that its forward-looking statements are reasonable; however, forward looking statements involve risks and uncertainties and no assurance can be given that actual future results will be consistent with these forward-looking statements. All figures presented in this document are unaudited and this document does not contain any forecasts of profitability or loss.
No New Information
To the extent that this announcement contains references to prior exploration results and Mineral Resource estimates, which have been cross referenced to previous market announcements made by the Company, unless explicitly stated, no new information is contained. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.
Empire Metals Limited Announces Drilling Outlines Large, High-Grade Zone
- Selected exceptional intercepts (>6% TiO2), include:
- 44m @ 7.87% TiO2 from surface (AC25TOM159)
- 50m @ 7.84% TiO2 from 4m (AC25TOM130)
- 54m @ 7.41% TiO2 from surface (AC25TOM118)
- 98m @ 7.05% TiO2 from 2m (RC25TOM062)
- 98m @ 7.05% TiO2 from 2m (RC25TOM068)
- Large, high-grade central core identified averaging circa 6% TiO2 across a continuous 3.6km strike length
- Nearly two thirds of all drillholes averaged > 4% TiO2, with over 90% exceeding a 2% cut-off.
Shaun Bunn, Managing Director, said:"These results confirm the exceptional scale and grade of titanium mineralisation at Thomas. The continuity of high-grade mineralisation near surface is particularly exciting for future mine development. With assays received ahead of schedule, we can now accelerate resource modelling and move rapidly towards announcing our maiden MRE."
MRE Drilling Programme - Key Results
Since commencing the maiden drilling campaign at Pitfield on 27 March 2023 Empire has completed 382 drill holes for a total 32,265 metres (refer Figure 1) comprising:
- 17 Diamond drill holes for 2,704 m
- 140 Reverse Circulation (RC) drill holes for 18,764 m
- 225 Air Core (AC) drill holes for 10,797 m.
The latest May-June campaign comprised:
- 140 AC drillholes (6,360m) on a 400 x 200m grid, average depth 45.4m
- 40 RC drillholes (3,776m) within the AC grid, average depth 94.4m
Figure 1. Grey-scale magnetics overlain by airborne gravity data showing RC, AC and diamond drillhole collar locations and JORC Exploration Target areas.
During the campaign all drill holes were subsampled on a 2m interval, resulting in over 5,000 drill samples being collected, logged by our on-site team of geologists and then prepared for shipment to Intertek's Perth based analytical laboratory. The analytical assay results have now been received, showing continuous TiO2-rich mineralisation across the overall drillhole grid, which extends 5.2km by 2.6km and totals an area of 1,352 hectares (refer Figure 2).
The drilling has confirmed the presence of a large, high-grade central core at the Thomas prospect, this target being selected as the basis for the maiden MRE due to the extensive, thick and high-grade titanium mineralisation known to be hosted within the broad, in-situ weathered zone. Whilst over 90% of all drillhole sample assays show mineralisation well above a 2% TiO2 cut-off grade this central high-grade core, extends over 3.6km north-south, averages around 6% TiO2 (refer Table 1).
Table 1. Breakdown of drillhole assay results by average grade of drillhole and percentage of total drilling.
Significant analytical assay results for each drillhole above 6% TiO2 are reported in Table 2 further below.
Figure 2. RC and AC drill hole collar locations within the Thomas Prospect priority area.
Strategic Significance
The May-June campaign marked a major milestone in the development of Pitfield, laying the foundation for a globally significant MRE and enabling the identification of near-surface, high grade zones to support the development of mine planning and ore scheduling as part of upcoming economic evaluation studies.
Table 2. Significant Intercepts above 6% TiO2.
The Pitfield Titanium Project
Located within the Mid-West region of Western Australia, near the northern wheatbelt town of Three Springs, the Pitfield titanium project lies 313km north of Perth and 156km southeast of Geraldton, the Mid West region's capital and major port. Western Australia is a Tier 1 mining jurisdiction, with mining-friendly policies, stable government, transparency, and advanced technology expertise. Pitfield has existing connections to port (both road & rail), HV power substations, and is nearby to natural gas pipelines as well as a green energy hydrogen fuel hub, which is under planning and development (refer Figure 3).
Figure 3. Pitfield Project Location showing theMid-West Region Infrastructure and Services
Competent Person Statement
The technical information in this report that relates to the Pitfield Project has been compiled by Mr Andrew Faragher, an employee of Empire Metals Australia Pty Ltd, a wholly owned subsidiary of Empire. Mr Faragher is a Member of the Australian Institute of Mining and Metallurgy. Mr Faragher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Faragher consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
About Empire Metals Limited
Empire Metals is an AIM-listed and OTCQB-traded exploration and resource development company (LON: EEE) with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.
The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, bedded TiO₂ mineralisation, each being over 7km in strike length.
An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO2. Included within the total Exploration Target* is a subset that covers the weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO2.
The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.
Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.
The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.
*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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