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, following the end of the 25-year civil war in 2009. 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 eg. electromagnetic (EM) surveying, followed by reconnaissance diamond drilling led to the discovery of the high-grade Conductor 1 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;

  • Completing a 1700-line km airborne EM survey over its priority licences in Sri Lanka
  • Secure a high quality and successful management team
  • Purchase of the first modern diamond drill rig and completing over 5000m of drilling
  • Delivering a JORC (2012) Mineral Resource Estimate (MRE) of 400,340 tonnes at 79.1% TGC over Conductor 1 at Pathakada
  • Achieving a positive Scoping Study

Over the next 12 months the Company intends to;

  • Further upgrade the size and confidence of the Pathakada mineral resource inventory.
  • Commence a 100m deep development shaft and produce bulk vein material for marketing and metallurgical purposes
  • Complete a Feasibility Study and deliver detailed mine and metallurgical designs
  • Receive an “A” Class Industrial Mining Licence
  • Complete the design and start construction of the Process Facility
  • Commence initial Mine Production, and
  • Test priority drill-ready targets supported by airborne EM anomalies and extensive historical workings.

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

Image module

Click image to enlarge