Comet Resources Ltd (ASX:CRL) has received highly encouraging results from the final phase of specialist test-work on natural flake graphite from its Springdale Graphite Project in Western Australia, increasing spherical graphite (SPG) yield to 60%, returning half again as much product compared with earlier tests.
The results appear to have been received positively by the market, raising CRL’s share price 10% to $0.022 intraday.
Tests involved reducing the material in an air classifier into fine and coarse fractions to separate the fines fraction prior to the production of the SPG.
The changes to the process not only increased yield but reduced waste as less material was required at input, increasing throughput and reducing energy consumption.
Further testing revealed tap density for the 15-micron SPG had also increased, rising from 15 microns at 0.90 kilograms/litre to 0.93 kilograms/litre, in line with generally accepted commercial specifications for the production of SPG for use in lithium-ion batteries.
Subsequent test-work will pause pending the completion of a proposed transaction between Comet Resources and International Graphite, subject to shareholder approval at the annual general meeting scheduled for December 17, 2021.
Testing background
Test-work completed initially in 2019 and 2020 identified that graphite concentrate from Springdale, in particular in the high-grade mineralisation, was a leverageable product due to its very fine size fraction, and also due to the platy nature of the fine flake.
Recognising that these properties may potentially have applications for battery anode material, Comet Resources decided earlier in 2021 to generate a bulk sample of graphite concentrate to send to Germany for evaluation by a specialist graphite test facility.
About Comet Resources
Comet Resources is a base metals, precious metals and industrials exploration and development company.
The company's growing portfolio includes the Santa Teresa Gold Project in Mexico, the Barraba Copper Project in New South Wales and the Springdale Graphite Project in Western Australia.
It has made significant progress on the development pathway at Santa Teresa in Baja California, Mexico, including the release of an initial JORC-compliant mineral resource estimate.