Sarytogan Graphite (ASX:SGA) reports it has received further ‘high-grade’ drilling results from the Sarytogan Graphite Deposit in Central Kazakhstan and is on track for a mineral resource upgrade in Q1 2023.
The company says thick ‘high-grade’ graphite intercepts returned in 14 diamond drillholes from the Central Graphite Zone (CGZ) returned 22.9m @ 30.1 TGC from 16.2m including 5.1m @ 35.5% in ST-73. It also intersected 25.1m @ 34% TGC from 17.9m including 17.9m @ 37.1% in ST-74, and 69.6m @ 25.5% TGC from 20.2m including 4.7m @ 37.7% in ST-77.
Sarytogan Managing Director Sean Gregory said the drilling results from the Sarytogan Graphite Deposit are continuing to impress and confirm the company’s status as a giant and exceptionally high-grade deposit.
“The drilling is nearing completion as planned and we are on track for a mineral resource upgrade in Q1 2023″
“The drilling is nearing completion as planned and we are on track for a mineral resource upgrade in Q1 2023. This together with the metallurgical testwork optimisation underway in Germany and Australia will inform a scoping study planned for 2023.”
Sarytogan reports drilling has now targeted the ‘higher-grade’ graphite mineralisation associated with the stronger metamorphism observed in outcrops within the CGZ, described as a ‘sparsely’ drilled area within the 209 million tonnes @ 28.5% TGC inferred mineral resource.
It also says the 2022 drilling campaign is nearing completion, and the results will continue to flow over the coming weeks, enabling the mineral resource estimate (MRE) to be updated in Q1 2023 targeting some areas for reporting at the higher indicated mineral resource classification.
Metallurgical testwork optimisation at laboratories in Australia and Germany is also underway, targeting continued progress towards battery anode specifications, and results will be reported to the market progressively as they become available.
The company’s share price had skyrocketed on the ASX yesterday, jumping 45.65% to $0.34 as of 11:45pm AWST.
The Sarytogan Graphite Deposit is located in Central Kazakhstan, and it was first explored during the Soviet era with sampling by trenching and diamond drilling.
Sarytogan Graphite is an Australian graphite exploration and production company that operates the Sarytogan Graphite Project through its wholly owned subsidiary Ushtogan.
Images: Sarytogan Graphite Ltd
