Comet Resources Quarterly Activities Report

Comet Resources Quarterly Activities Report

Comet Resources Ltd is pleased announce the Quarterly Activities Report and Appendix 5B for the quarter ending 31 December 2019.

Comet Resources Ltd (Comet or the Company) (ASX:CRL) is pleased announce the Quarterly Activities Report and Appendix 5B for the quarter ending 31 December 2019.

Highlights

  • Diamond drilling program assays completed with multiple broad zones of shallow, high-grade graphite results released over the December quarter incl. 57m @ 22.38% Total Graphitic Carbon (TGC) (ASX 17 Oct 2019), 17m @ 16.55% TGC (ASX 24 Oct 2019) 10.9m @ 10.61% TGC (ASX 25 Nov 2019) and 42.5m @ 17.02% TGC including 3.23m @ 51.02% TGC (ASX 28 Nov 2019)
  • Appointment of Matthew O’Kane as Managing Director (ASX 12 Nov 2019)
  • Capital raise of $562,500 before costs completed (ASX 19 Nov 2019)
  • Highly experienced specialist teams engaged to conduct Aerial Electromagnetic (EM) survey, diamond drilling and metallurgical testwork (ASX 10 Oct 2019)
  • EM completed, providing strong dataset to optimise graphite exploration efficiency by targeting shallow, high-grade, graphite (ASX 15 Oct 2019). Survey identified priority graphite targets in close proximity to Resources and 18 kilometres of strike length
  • Metallurgical test work on diamond drill core underway in Perth. Initial results expected in Q1 2020.
  • R&D Grant funding submission completed and submitted to Australian Government.

Post Quarter End

  • Announcement of proposed acquisition of the Barraba Copper Project in Northern NSW as part of a strategy to obtain further assets that share graphite’s exposure to the forecast growth in battery commodities required to support the de-carbonisation of the global transport network (ASX 23 Jan 2020)
  • Receipt of R&D Grant payment of $480k

Click here to read the full ASX Announcement

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