Green Battery Minerals Inc said a drill program for up to 5,000 metres (m) was poised to start at its wholly-owned Berkwood graphite project in Quebec at the end of October this year after the company received all the permits needed.
"We have a very exciting drill program designed," Green Battery CEO Tom Yingling told investors in a statement. "Drilling Zone 1 for the fifth time could add significantly to the company’s resource size. All of the drillings are low-risk step out and infill drilling from previous successful drill holes designed to add to the company's already established resource."
He added: "I am pleased to finally drill Zone 6 as it has returned good graphite from its outcrops and channel samples; we need to drill to determine the shallow sub-surface potential. The geophysical anomaly used to initially target, discover and sample it indicates it has the potential to comprise a large, shallow graphite occurrence."
READ: Green Battery Minerals reveals positive geophysical survey results on zones 3 and 4 at Berkwood Graphite project
Over the last five years, the company has advanced the Berkwood Graphite asset, which it says hosts extremely high grades and extremely large flake sizes compared to other world graphite sources. The project already boasts an NI 43 101 resource of 550,000 tonnes of graphite and it is growing.
There are three goals of this latest drilling. Firstly, to potentially increase the already established resource on Zone 1. Secondly, to drill Zone 6, where there are many large outcrops that have never been drilled before and work has shown that this body is not only graphitic, but it also contains extremely high-grade graphite with excellent metallurgy.
The third aim is to use these drill results to further the company's preliminary economic assessment ( PEA), which will include an estimated net present value (NPV).
Contact the author at giles@proactiveinvestors.com