Margosa commissioned a Down Hole Electromagnetic survey (DHEM) at the Company’s Ridee Ganga Project in 2017, focusing on developing a more accurate model of the Ridee Ganga graphite mineralisation. The survey was designed by Southern Geoscience Consultants Pty Ltd, to test a strong conductivity anomaly that was delineated during a 2013 ground electromagnetic survey; the fieldwork was undertaken by Perth based GEM Geophysics.

During this period, the Margosa and LRM Exploration team completed further ground-truthing and mapping over all of the Company’s exploration licences, in southwest Sri Lanka. This work discovered many deep historical shafts that are believed to date back more than 140 years. Some of these workings have reported depths of more than 200 metres with evidence of high-grade vein graphite stockpiles on the surface.

2017 DHEM plate modelling overlaying the 2013 Ground FLEM survey data with the 2017 drill holes