Margosa’s updated Mineral Resource Estimate (MRE) results in largest reported vein graphite deposit.
In April 2020, Margosa Graphite Ltd proudly announced its updated Mineral Resource Estimate, completed in accordance with the JORC Code (2012), for the Ridee Ganga Vein Graphite Project, Pathakada, Sri Lanka. 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 Graphite Ltd, 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 below button.
Table 1. Mineral Resources, Ridee Ganga Vein Graphite Project, April 2020