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Comet Resources Limited (Comet or the Company) (ASX:CRL), is pleased provide the Quarterly Activities Report and Appendix 5B for the quarter ending 30 September 2021 (the Quarter). The Company finalised its initial drilling program at the Santa Teresa Gold Project during the quarter. Completion of assays of drill core and interpretation of results has been ongoing since the field work completed, with the results from the program expected to be available in the near term. Results from re-assay of drill core from the 2008 drilling program at Santa Teresa were also released, confirming the previous assays for that drilling program showing areas of high grade gold mineralisation. In addition, we received the results from metallurgical test programs undertaken in Germany on natural flake graphite from the Springdale Graphite Project. The results of these tests demonstrated that the graphite was amenable to the production of high purity spherical graphite, meeting industry specifications for the production of battery anode material, as well as being suitable for the production of high value micronised industrial graphite products, such as jet milled graphite.
Highlights:
- Springdale Graphite Project natural flake performed exceptionally in metallurgical test programs at a specialist facility in Germany
- Results from micronisation, spheronisation and purification met industry specification for battery anode material with purification up to 99.99% graphite content achieved
- The graphite also performed exceptionally in jet milling tests – Jet milled graphite products can also achieve premium prices in graphite markets
- Initial drilling program completed at the Santa Teresa Gold Project - results pending
- Re-assaying of diamond core from the 2008 drilling program at Santa Teresa confirmed intersections of high-grade gold, including 'bonanza' grade hits – Significant intersections included:
- 1.0m at 132.0g/t gold from 112.7m (ST-0013)
- 1.0m at 52.8g/t gold from 20.0m (ST-0003)
- 1.0m at 27.9g/t gold from 142.0m (ST-0026)
- 1.0m at 24.9g/t gold from 217.0m (ST-0001)
Post Quarter End:
- Comet and International Graphite to create a high-technology, vertically integrated industrial and battery anode graphite product company in Western Australia
- The Company adopted a global standard for ESG reporting
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