Applied Graphite Technologies Corporation (TSX-V:AGT) has reported encouraging preliminary results from its ongoing geophysical survey at the Queens Mine Complex in Sri Lanka.
The Queens Mine Complex (QMC) is located in the heart of Sri Lanka’s vein graphite district, with historical workings and vein graphite outcrops.
Initial results from the first line of the geophysical survey revealed three significant anomalies.
The first anomaly, located between the 165 to 185 meter sections, showed a chargeability of around 400 millivolts per volt (mV/V).
The second, between the 12 to 30 meter sections, registered a chargeability of 350 mV/V.
The third, found between 100 to 125 meters, extends beyond the 60-meter detection limit.
All three anomalies extend deeper than 60 meters, and the electrode spacing is being increased to probe depths of over 300 meters.
High chargeability combined with low resistivity provides a strong signal for graphite exploration, suggesting the anomalies could correspond to graphite mineralized zones or swarms of veins similar to those at the nearby Kahatagaha graphite mine.
The profile will be extended to the NNE to further define the anomalies, and 3D plotting will help map the vertical graphite veins, as graphite is highly conductive and geophysics is useful in tracing them at depth.
"I am pleased to see the immense success of the initial results as we are introducing new methods in detecting graphite veins in Sri Lanka,” Applied Graphite CEO Don Baxter said.
"With the combination of data from the LIDAR survey taken of the entire QMC area a few months ago which gave us a baseline to build our geologic models, and the current successful geophysical results, we are provided with valuable information to improve the company's understanding of this priority target area.
“As we continue to run additional lines, with electrode spacing wide enough to reach a depth of at least 300 metres, we look forward to further understanding the enormous potential of the Queens Mine Complex."