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Anson Resources Ltd shares rise on Ajana graphite potential

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Anson Resources Ltd (ASX:ASN) has commenced a drilling program for graphite at the Walcott Prospect in the Ajana Graphite Project near Geraldton in Western Australia.

The program will consist of 280 metres of diamond drilling and 1900 metres of reverse circulation drilling.

The objective of the drilling program is to confirm the grade, width and strike extent of the main anomaly to define a definitive resource target area.

The Walcott Prospect has never previously been drilled for graphite.

Anson’s tenements are located within a Proterozoic gneissic geology, which typically hosts high grade graphite deposits in Western Australia and other regions around the world.

In March, first pass rock chip sampling results from Ajana returned up to 18.15% total graphitic carbon from a widespread area within the tenement.

Anson was able to produce uniform and defect free single layered graphene from the graphite flakes last month.

Adding interest, Anson signed an agreement with China’s Shanxi Jianbang Group to assess the potential for using Anson’s graphite and graphene products in Shanxi’s steel products.

Jianbang produces 1 million tonnes of pig iron, 4 million tonnes of steel products and 300,000 tonnes of precision castings annually.

The momentum gained by Anson has reflected in the company’s share price, which have doubled during the last one month.

 

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Quick facts: Anson Resources Ltd

Price: 0.03 AUD

ASX:ASN
Market: ASX
Market Cap: $18 m
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