Image Sourced Comet Resources Limited
Market Herald logo

Subscribe

Be the first with the news that moves the market

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

CRL by the numbers
More From The Market Herald
The Market Herald Video

" NRW Holdings (ASX:NWH) signs contract extension for Curragh Mine

NRW Holdings' (ASX:NWH) subsidiary, Golding Contractors, signs a $1.2 billion contract extension with Coronado Curragh, a…
The Market Herald Video

" Titomic (ASX:TTT) sells D523 cold spray systems into Australian transport industry

Titomic (ASX:TTT) sells its first four cold spray systems into the Australian transport industry.
The Market Herald Video

" NRW Holdings (ASX:NWH) flags another string of contract wins in QLD and WA

NRW Holdings (ASX:NWH) has secured and extended a string of contracts in Western Australia and Queensland,…
The Market Herald Video

" Kleos Space (ASX:KSS) secures $10m debt facility with PURE

Kleos Space (ASX:KSS) secures a four-year $10 million debt facility with PURE Asset management to help…