Jul 3 2019
Ceylon Graphite Corp. announced recently that it has found another large wide crystalline graphite vein that has a width of 55 cm (1 ft, 6”) at its H1 site, in Meewitiya, Sri Lanka, N-216453 E-130314 under EL/222/R/2.
Ceylon Graphite H1 Site in Sri Lanka. (Image caption: Ceylon Graphite Corp.)
The discovery was made while drilling a new shaft at the location. The vein is partly visible in the side wall of the shaft and its whole width (currently more than 45 cm) will be unknown until the digging work is finished. The position of the shaft was determined on account of the VLF survey work and drilling carried out at the location.
This discovery, together with the recent M1 discovery of another large crystalline graphite vein, visibly reveals the strong potential of the Ceylon Graphite land bank. All four current work locations—M1, K1, H1, and P1—have shown large commercially mineable graphite.
Ceylon Graphite announced that American Energy Technologies Company has also tested graphite samples from the M1 and K1 locations and has certified that these samples can easily be upgraded using simple Thermal Purification to fulfill the conditions of marketable battery-grade graphite.
M1 graphite was upgraded to 99.996 wt% Cg, and K1 graphite was upgraded to 99.9997wt% Cg with very little cost incurred. These tests, carried out during June 2019, substantiate Ceylon Graphite’s short-term goal of manufacturing a premium-grade marketable battery grade product for potential lithium-ion battery producers and other energy storage end-users.
We continue to find large crystalline graphite veins with purity that has not been seen elsewhere in the world. We have only begun to develop a small portion of our total land bank, and already we can be confident we may be the quickest-to-market new producer, with the highest quality graphite at the lowest costs seen in today’s market. We expect to be in commercial production imminently. I am very confident Ceylon Graphite will have a significant impact on the graphite and lithium-ion battery sectors in 2019 and beyond.
Bharat Prashar, Chief Executive Officer, Ceylon Graphite Corp.