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Margosa’s updated Mineral Resource Estimate results in largest reported vein graphite deposit

Exploration History – Largest Vein Graphite Deposit Reported
16 December 2020

In April 2020, Margosa proudly announced its updated Mineral Resource Estimate (MRE) , completed in accordance with the JORC Code (2012), for the Ridee Ganga Vein Graphite Project, Pathakada. An impressive 1,724,610 tonnes grading at 76.32% Total Graphitic Content was defined.

The Mineral Resource Estimate was completed on 30 April 2020, by independent mining consultants, Measured Group, Brisbane, Australia. The work was an upgrade and expansion of the maiden Mineral Resource Estimate, also completed by Measured Group on 28 March 2019. The updated estimate was calculated using geological data collected from additional infill and extensional drilling, undertaken after the 2019 model was completed, utilising 8,652 metres of diamond core drilling from 49 holes.

The updated Mineral Resource Estimate has resulted in Margosa, having the largest reported vein graphite deposit. Refer to Table 1 below.

The MRE Announcement, 30 April 2020, can be read by clicking on the button below.

Read Announcment
Mineral Resource Estimate

Table 1. Mineral Resources, Ridee Ganga Vein Graphite Project, April 2020

Vein Graphite

Sri Lankan vein graphite with a 99% TGC purity

Cross Section 731070mN

Cross Section 731070mN, Ridee Ganga Prospect, Pathakada, 2020

Drill Hole , Ridee Ganga Prospect

Drill Hole Location Plan, Ridee Ganga Prospect, Pathakada, 2020

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