Comet Resources boosts Eastern Zone strike discovery at Springdale

Comet Resources ASX CRL graphite Springdale project
Drilling at Comet Resources' Springdale graphite project.

Comet Resources (ASX: CRL) has discovered graphite mineralisation within the Eastern Zone of its Springdale project extends more than 800 along strike, with every drill hole along the eastern zone hitting graphite.

A 93-hole, shallow reverse circulation program was undertaken at the project between December 2017 and February 2018.

Mineralisation also remains open at depth and along strike.

Drilling along the Eastern Zone of the Western Australian-based Springdale project returned a better near-surface assay of 12m at 12.2% total graphitic carbon (TGC), with a 5m interval containing 23.1% TGC.

Another notable intersection was 6m at 18.3% TGC, with 5m at 21.7% TGC.

Earlier assays included one drill hole with multiple high-grade intersections. These were 11m at 25.6% TGC, 9m at 30.2% TGC, 5.6m at 7% TGC, 2.6m at 5.3% TGC, 4.6m at 15.8% TGC and 3.1m at 21% TGC.

Northern Zone graphite discovery

Meanwhile, drilling at the project’s Northern Zone uncovered high-grade graphite after several holes were drilled into priority targets during the latest campaign.

Last week, Comet reported numerous high-grade assays from the Northern Zone, with better results including 20m grading 19.3% TGC, with two intervals of 13m comprising 25.8% TGC and 2m grading 19.3% TGC.

Other wide and high-grade intersections were 7m at 16.3% TGC, including 3m at 35.1% TGC, and 15m at 7.3% TGC, with two 2m intervals containing 23.1% TGC and 16.1% TGC respectively.

Western Zone

A maiden aircore drilling program in February 2016 led to the detection of the Western Zone. The recent drilling campaign firmed up the original discovery returning better results of 17.5m at 11.3% TGC, including 6m at 22.3% TGC, and 14m at 6.7%, including 3.25m at 20.2% TGC.

Encompassing 220 square kilometres, Comet’s wholly-owned Springdale project is 30km from Hopetoun and 150km from the Port of Esperance.

Further assays from the completed drilling program were pending at the time of writing.

In early morning trade, Comet’s share price was up 1% to A$0.086.

Lorna has more than 10 years experience as a finance journalist and editor. She has written for an array of industry publications reporting on various sectors, including: resources, energy, construction, biotech, pharma, science and technology, agriculture, and chemicals. Specialising in resources, Lorna has covered a myriad of small and large cap ASX and dual-listed stocks.