Ceylon Graphite Corp’s wholly-owned subsidiary Sarcon Development (PVT) Ltd has purchased a HXY-2T type Core Drilling Rig to carry out drilling at its K1 Graphite Project in Sri Lanka. Drilling will initially be in the area identified during VLF ground mapping around the old mine site and then other parts of the grid.
The rig has been purchased from HH Drill-Tech Drilling Machinery Co Ltd based in Lianyungang, Jiangsu Province, China. It is anticipated the drill will arrive in Sri Lanka by the middle of May.
For its immediate requirements, Sarcon has hired a local drilling operator who is currently on site to start the drilling process at the K1 site, which is a past producing graphite mine.
The company will drill all the 116 grids over the next 24 months, which will provide the precise location(s) of the graphite vein(s) in each grid. The company’s goal is to build a geological database for its mining operations.
Ceylon Graphite’s chief executive officer Bharat Parashar said, “Owning its own drill rig will give Sarcon both a cost advantage plus positioning flexibility in the exploration process as we move towards our goal of commencing production.”
Ceylon Graphite Corp is a public company listed on the TSX Venture Exchange, that is in the business of exploring for and development of graphite mines in Sri Lanka. The Government of Sri Lanka has granted the company exploration rights in a land package of over 100sqkm.
These exploration grids cover all relevant areas that had historical graphite production during the early 20th century representing the majority of the known graphite occurrence in Sri Lanka.
Ceylon’s graphite is the purest in the world, and currently accounts for less than 1% of the world graphite production.