Gratomic Inc. (TSX-V:GRAT, OTCQX:CBULF) said it has completed six diamond drill holes and sunk 686.65 metres (m) so far at its Capim Grosso graphite project in Brazil.
Updating on progress of the planned 5,000m drill program on the project in Bahia State, the company noted that visual graphite had been encountered and that it has now introduced a second rig, which would speed up the work.
"The ability to drill with two rigs simultaneously will accelerate the conclusion of the drilling program and will positively impact the announcement of results. Drill core-cutting equipment is currently at the site, which will enable the team to begin splitting the drill core to produce samples for laboratory assays," it added.
Notably, the six completed drill holes have shown visual graphite of wider than 0.5m intercepts, the firm said.
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Gratomic added that it has hit graphite varying in width from 0.1m to 3.88m, but added that laboratory assays were now needed to verify grades.
The company's chief operating officer (COO) and head of graphite sales Armando Farhate said: "The work is unfolding at a very good pace, and being carried on with full safety and environment preservation."
Arno Brand, Gratomic CEO, added: "These latest developments continue to drive Gratomic towards its goals of bringing value to its shareholders and stakeholders, in a clean and sustainable growth path."
Gratomic is focused on becoming a leading global graphite supplier and aims to secure a strong position in the electric vehicle (EV) battery supply chain. It has projects in Namibia, Brazil, and Canada.
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