Total Graphite PLC (LSE:TGR, OTCQX:TGRHF) told investors that infill drilling at its Vatomina graphite project in Madagascar has strengthened its geological case for restarting mining, with an initial hole returning 19 metres at 3.3% TGC, including 5 metres at 6.82%.
Hole VAT-DD26-026 intersected the graphite seam from 36 metres downhole in the Old Mine area. Combined with historical drilling and mining data, the company said the result increases confidence in the continuity and grade of the near-surface seam and will feed into its forthcoming resource model and restart mine plan.
Work has also identified an Old Mine Extension east of the historical workings through auger drilling and trenching. Total Graphite said a completed cross-section indicates that potentially significant graphite mineralisation is present there, while ongoing mapping has improved its understanding of folds, faults and dolerite dykes cutting the deposit.
Chairman Christian Dennis said the 19-metre intercept and its higher-grade core bring “the shape of the orebody into much sharper focus”.
Drilling is continuing ahead of geological and resource modelling, followed by block modelling and pit-shell optimisation to assess the extent and economics of mining Old Mine alongside the previously announced Tanandava orebody.
