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Crater Gold Mining Ltd eyes graphite at the Golden Gate Project

Crater Gold Mining Ltd (ASX:CGN) is planning on representative sampling, drilling and metallurgical testing at the Golden Gate Project in Croydon, northwest Queensland.

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Crater Gold Mining Ltd eyes graphite at the Golden Gate Project

Graphite occurrences have been observed along with the gold mineralisation in the region.

The rich gold discoveries in 1891 at the Golden Gate reef led to the 1890s being the most productive years for Croydon.

In recent times, exploration and development were mainly undertaken by larger companies, focussing on gold, with the large low grade Croydon open pit gold mine operated by Barrack Mines Ltd.

Significantly, in May 2016 Metallica Minerals Ltd (ASX:MLM) discovered high purity graphite mineralisation at their Esmeralda Graphite Project located 80 kilometres north of Golden Gate.

High purity graphite required for lithium-ion battery anodes is currently only produced in Sri Lanka, with future production from the Albany project in Canada and possibly from Metallica’s Esmeralda Project.

Crater Gold’s priority is to undertake additional drilling to confirm the previously identified graphite mineralisation.

The first stage of the work program is anticipated to commence during the second half of 2017.

Last week, Crater Gold announced a maiden resource estimate of 17,100 ounces of gold at 11.9 g/t gold at the Crater Mountain Project in Papua New Guinea.

Quick facts: Crater Gold Mining Ltd

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ASX:CGN
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Market Cap: $18.41 m
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