CRL recieves​ WA Govt. approval for Sprindale Project

Comet Resources has been granted funding from the West Australian Government for planned drilling. The government’s Exploration Incentive Scheme (EIS) is a preferential funding scheme towards high quality projects that promote new exploration concepts.

Comet have currently completed 11 reverse circulation drilling holes at their Springdale graphite project. Less than 20 per cent of total targets have been tested.

Graphite grade results are varied with 15.6Mt at 6 per cent ranging up to 2.5Mt at 17.5 per cent. A diamond drill program is planned for further exploration.

The Sprindale project is located 30 km east of Hopetoun, WA. Comet owns 100 per cent interest. The company also appointed a new non-executive director.

Incoming director Alex Molyneux says his interest is in Comet Resources’ ability to support electrochemical exfoliation of graphene.

“In my view, graphene is something we will hear a lot more about in the coming years because of its ideal properties for next-generation electronics,” he said.

Graphene is simply stacked thin sheets of graphite. Graphene is stronger than steel, thinner than paper and completely transparent.

The compound is estimated to be an important resource in future electronic and technologies such as smartphones, 3D printing, medicine applications, and electronic sensors.

Please see announcement for further details