Margosa Graphite Limited (“Margosa”) is an unlisted public company.

Margosa with the assistance of its wholly owned subsidiary Lankan Resources and Mining Pvt Ltd (LRM) was a first mover in graphite exploration in Sri Lanka. The Company was granted tenements in 2012 to an extensive land portfolio covering some of the most geologically prospective and historically proven areas in the country.

Pioneering modern exploration techniques such as electromagnetic (EM) surveying, followed by reconnaissance diamond drilling, led to the discovery of the high-grade Ridee Ganga Vein Graphite Deposit at Pathakada, 40 km southwest of Colombo. Subsequently, the Company has identified many high priority targets on a number of its other tenements that warrant drill testing.

Since 2017, Margosa has committed over $6M to exploration and development programs in Sri Lanka. Margosa’s funding has been provided by local and international investors.

This funding has allowed the Company to accelerate its exploration and development efforts in Sri Lanka including:

  • Completion of a positive feasibility study on the Ridee Ganga Vein Graphite Deposit
  • Delivery of a Mineral Resource Estimate of 1.7m tonnes at 76.3% that was compiled in accordance with the JORC Code (2012)
  • Award of the Advanced Exploration Restoration Plan (AERP) licence from the Geological Survey and Mining Bureau (GSMB) for Ridee Ganga, to start dewatering and shaft development
  • Completion of a 1720-line km airborne electromagnetic survey (EM) over its priority licences in Sri Lanka
  • Securement of a high quality and successful management team
  • Purchase of a modern diamond drill rig and completion of over 11,000m of drilling
  • Purchase of a second customised drill rig, specifically designed for Sri Lanka
  • Completion of design and commencement of construction of the Process Facility

Over the next 12 months the Company intends to:

  • Further upgrade the size and confidence of the Pathakada mineral resource inventory
  • Issue a mineral resource estimate for a second project
  • Produce bulk vein material from Ridee Ganga, for marketing and metallurgical purposes
  • Receive an “A” Class Industrial Mining Licence
  • Commence initial mine production
  • Announce a binding sales agreement; and
  • Test priority drill-ready targets supported by airborne EM anomalies and areas of extensive historical workings.

Margosa’s goal is to become the world’s leading supplier of rare and highly sought after crystalline vein graphite.

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