Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Renascor Resources (RNU) confirms intersections that are the thickest and highest-grade graphite from its latest drill assays at the Sivious graphite deposit in South Australia
  • The company says the drilling results confirm the continuity of high-grade graphite within the western inferred resource zone and continuing west along-strike into areas that are not included in the current mineral resource estimate (MRE)
  • The drill results will be incorporated into a revised pit design and mining schedule as part of the company’s battery anode material study, with the potential to reduce mining costs and increase the volume of graphitic ore mined
  • The results will also permit the calculation of revised MRE, expected to be completed in the current quarter
  • Shares in Renascor are up 9.68 per cent, trading at 17 cents as of 11:56 am AEST

Renascor Resources (RNU) has confirmed intersections that are the thickest and highest grade graphite to date from its latest drill assays at the Sivious graphite deposit in South Australia.

Best results include 45 metres at 9.4 per cent total graphite carbon (TGC) from 23m and 10m at 6.6 per cent TGC from 8m at SIVRC264 and 25m at 13.7 per cent TGC from 17m at SIVRC266.

The company said the drilling results confirmed the continuity of high-grade graphite within the western inferred resource zone and continuing west along-strike into areas that are not included in the current mineral resource estimate (MRE).

Further, the results suggest potential to extend the pit in a revised pit design and mining schedule as part of Renascor’s optimised battery anode materials (BAM) Study, with the potential to reduce mining costs and increase the volume of graphitic ore mined.

The optimised BAM Study is assessing an increase to the previously planned purified spherical graphite (PSG) production capacity of 28,000 tonnes per annum (tpa), as well as additional staged expansions to both the planned graphite concentrate and PSG operations in order to meet projected demand.

Commenting on the drill results, Managing Director David Christensen said the results underscore Siviour’s global significance and advantages in both scale and geometry.

“We expect these results to support both an improved and accelerated mining schedule, as well as an expansion to the Siviour Resource to meet the increasing demand for PSG for lithium-ion battery anodes.”

The results from the recent drill program will be used to prepare a revised mining schedule to be incorporated in the updated BAM Study.

Additionally, the results will also permit the calculation of revised MRE expected to be completed later this quarter.

Shares in Renascor were up 9.68 per cent, trading at 17 cents as of 11:56 am AEST.

RNU by the numbers
More From The Market Herald
MetalsGrove Mining (ASX:MGA) - Managing Director, Sean Sivasamy

" MetalsGrove Mining (ASX:MGA) begins soil sampling at Upper Coondina

MetalsGrove Mining (ASX:MGA) has begun a soil sampling program at its Upper Coondina lithium project in…
Bellavista Resources (ASX:BVR) - Non Executive Chairman, Mel Ashton

" Bellavista Resources (ASX:BVR) commissions second rig for Brumby, WA

Bellavista Resources (ASX:BVR) has commissioned a second rig to begin drilling at its Brumby zinc-silver-copper project…

" Sky Metals (ASX:SKY) encounters further tin mineralisation at Tallebung, NSW

Sky Metals (ASX:SKY) has reported further tin mineralisation at its Tallebung tin project in New South…
Spectur (ASX:SP3) - Managing Director, Gerard Dyson

" Spectur (ASX:SP3) raises $1.15m in SPP

Spectur (ASX:SP3) has raised $1.15 million through a security purchase plan (SPP) and shortfall offer.