Image Sourced ShutterStock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Comet Resources has identified a large, high-grade graphite target at its Springdale project, WA.
  • Electromagnetic surveys will be used to identify the target’s worth
  • Springdale is expected to produce 2.6 million tonnes with 17.5 per cent total graphitic carbon of high-grade resource during its lifetime.
  • The company are creating a graphene product from the project’s graphite

Graphite explorers, Comet Resources has identified a large graphite target at its Springdale Project, Western Australia.

The target is now of high priority and is expected to be be similar to the high-grade graphite already identified at the project.

The Springdale project is estimated to produce 15.6 million tonnes of resource during its life span, with 2.6 million tonnes being high-grade and total graphitic carbon sitting at 17.5 per cent.

The company said they will conduct an electromagnetic survey of the Newley identified area with the hope of targeting a prosperous area near the surface. Comet has successfully used the surveys to identify high-grade graphite mineralisation at other sites in Springdale.

“The company see electromagnetic surveys helping to identify the highest grade in new areas and around existing resource,” CEO at Comet Resources, Philippa Leggat, said.

“It is expected the surveys will cost-effectively upgrade the high-grade component at the Springdale project,” Philippa added.

From the graphite at Springdale, Comet are creating a graphene product through electrical exfoliation.

The company predominately supply to automotive, aerospace, defence, steel and industrial products industries. Additionally, Comet is working on branching out to the rechargeable battery and consumer electronic sectors.

CRL by the numbers
More From The Market Online

SRG Global secures $150m in new contracts across Australia

SRG Global (ASX:SRG) reaffirmed its strong presence in the Australian market by acquiring multiple contracts for…

HighCom inks fresh body armour order worth $4.7M

HighCom – formerly known as XTEK – has announced its receipt of a contract order for…

Provaris to work with GES on Rotterdam hydrogen import facility

Provaris has announced its execution of a deal with Global Energy Storage (GES) to build a…

This stock has 3D-printed a working gas turbine – and it could power UAVs

Aurora Labs (ASX:A3D) has revealed it has created a working gas turbine engine in Australia comprised…