Trælen Graphite Mine is part of the Skaland Graphite Operation on the island of Senja, Norway.
In March this year, Mineral Commodities began a 17-hole, 3000-metre drilling program to expand the resource down dip. As of June 30, 14 holes were completed and the company expects the program will finish next month.
So far, the results have confirmed the continuity of mineralisation at Trælen and the potential to upgrade the mineral resource.
The indicated and inferred resource currently sits at 1.78 million tonnes at 22 per cent total graphitic carbon (TGC) for 397,000 tonnes of contained graphite using a 10 per cent cut-off grade.
Significantly, drilling intersected up to 44.5 per cent total graphitic carbon (TGC) at Trælen which confirms it as one of the highest grade operating flake graphite mines in the world.
Latest and best results include 15.7 metres at 30.6 per cent TGC from 99.9 metres, 27.7 metres at 35.6 per cent TGC from 63.2 metres including five metres at 44.5 per cent TGC from 81 metres, and 16.8 metres at 35.3 per cent TGC from 80 metres including 5.5 metres at 40.7 TGC from 89 metres.
Acting CEO Russell Tipper commented on the results.
“These drilling results confirm that the very high-grade graphite mineralisation at Trælen continues along strike, down dip of historical mining operations,” he said.
“We are looking forward to an upgraded mineral resource estimate, targeting an upgrade to the current resource, as well as Skaland’s first ore reserve estimate after the drilling campaign is completed.”
Mineral Commodities expects to deliver an updated mineral resource for the Trælen mine by the end of the September quarter.
Company shares ended the day 6.67 per cent in the green and closed at 16 cents.