Springdale Graphite Performs Exceptionally in Battery Anode Material Benchmark Tests

Comet Resources Ltd (Comet or the Company) (ASX:CRL) is pleased to provide the results of specialist test work on natural flake graphite from its Springdale Graphite Project (Springdale) located in Western Australia.

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Comet Resources' Quarterly Activities Report – June 2021

Comet Resources Limited (Comet or the Company) (ASX:CRL), is pleased provide the Quarterly Activities Report and Appendix 5B for the quarter ending 30 June 2021 (the Quarter). The Company proactively progressed various exploration programs across its projects and successfully completed the acquisition of a portfolio of copper-gold and base metals assets in Australia's Northern Territory. Post Quarter end, the Company provided an update regarding the status of ongoing metallurgical test work on graphite from its Springdale Graphite Project located in Western Australia.

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Graphite Metallurgical Test Work Progress Update

Comet Resources Ltd (Comet or the Company) (ASX:CRL) is pleased provide an update on ongoing test work on natural flake graphite from its Springdale Graphite Project (Springdale) located in Western Australia. Both excellent grade and recoveries were achieved on initial tests, leading to commencement of work earlier this year to produce a concentrate bulk sample for further testing. The production of the concentrate material was completed inJune in a lab in Perth, Western Australia, and was subsequently air-freighted to a specialist testing provider in Germany. That material has now arrived, been dried, and prepared for testing, with testing works now commenced. In addition to the tests being performed by the specialist lab for Comet, a sample of the concentrate material has also been provided to a third-party producer of natural flake graphite products for battery anodes for their own evaluation.

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Drilling Commences at Santa Teresa Gold Project

Highlights:

  • 2,000m diamond drilling program has now commenced at the Santa Teresa Gold Project
  • Drilling aims to:
    • Follow on prior drilling in key areas where high grade intersections such as ST-005 with 1 m at 958.4 g/t were encountered (see Comet Asx announcement of 9 June 2020) Test extensions of known gold mineralisation along strike and down dip
    • Expand knowledge of the structure of the veins and controlling features of the mineralisation
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Completion of Acquisition of Highly Prospective Copper Projects in Northern Territory

Highlights:

  • Agreement to acquire a portfolio of copper-gold and base metals assets in Australia’s Northern Territory now completed
  • Assets include: Oonagalabi Copper-Zinc Project, Paradise Well Copper-Gold Prospect and the Silver Valley Copper-Gold-Silver-Lead Prospect, which combined cover approximately 840 km1
  • Oonagalabi best intersections from historical drilling include 36.6m at 1.0% copper and 1.7% zinc from 1.5m, 5m @ 1.26% copper and 1.22% zinc from 70m, 6m at 0.9% copper from 102m and 14m at 0.7% copper from 148m1
  • Paradise Well rock chip samples returned up to 8.9% copper and 2.2g/t gold, Silver Valley rock chip samples returned 554 g/t silver, 20% lead, 9% copper and 2 g/t gold, providing exciting earlier stage exploration potential1

Comet Resources Ltd (“Comet” or “the Company”) (ASX: CRL) is pleased to advise that it has now finalised its due diligence and has completed the acquisition of a portfolio of highly prospective copper-gold-zinc-silver-lead assets in the Northern Territory of Australia (“Portfolio”) from Bath Resources Pty Ltd (“Vendor” or “Bath”).

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