Ceylon Graphite Corp (CVE:CYL) (OTCMKTS:CYLYF) (FRA:CCY) announced an expanded drill program at its H1 site in Sri Lanka, according to a statement Thursday.
The drill program, which was designed to develop the parameters of the H1 mine, will include six new 220-to-250-metres boreholes, the company told shareholders.
The site is one of 121 grids held by Ceylon’s subsidiary Sarcon Development (Pvt) Ltd under EL 222.
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Drilling at H1 first started in 2019, when the company sank four bore holes and cleared adits prior to the pause in operations due to COVID-19. According to Ceylon, the bore holes resulted in graphite veins of varying thickness being intercepted at various depths between 67 to 142 metres.
“We are pleased to begin drilling at scale again and look forward to completing the drill program in the next few months,” said Ceylon Graphite’s CEO Bharat Parashar in a statement.
“Previous drilling at H1 has produced good results and we anticipate even better results in this program due to the close proximity to the recently discovered large high grade surface vein. In addition to the drilling, we have restarted work on an adit which, will follow the vein in the overburden up to the rock and then will be converted into a shaft to access the mine.”
Commercial graphite production is underway at Ceylon’s K1 site and Ceylon began the application process for an Industrial Mining License Category A for its M1 site, on which it expects to begin commercial production in 3Q 2021.
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