Sept 19, Colombo: An Australian company, Bora Bora Resources Limited, has received approval from the Sri Lankan government to conduct airborne electromagnetic surveys across the island.
The Perth-based graphite explorer said in a disclosure to Australian Security Exchange that the company has received all approvals to proceed with its planned airborne electromagnetic surveys across the Matale Graphite Project and North and South Paragoda Projects in Sri Lanka.
In July this year, Bora Bora Resources announced that it has been granted an additional 156 square kilometers of exploration licenses prospective for high grade graphite over the Baduraliya, Neluwa and Paragoda project areas in central and southern Sri Lanka.
The projects are located contiguously and approximately 25km to the south of the Kahatagaha-Kolongaha Graphite Mine (KKGM).
KKGM has been in operation since 1872, and produced over 300,000 tons of graphite at 90% or greater total graphitic carbon (TGC).
All necessary approvals have now been received from the Geological Survey and Mines Bureau, the Ministry of Defence and Urban Development Authority in Sri Lanka, the company said.
Bora Bora said it has commissioned international geophysics experts Geotech Airborne Limited to fly a minimum of 220 square kilometers of Versatile Time Domain Electromagnetic (VTEM) surveys across the Projects. It is the first time that a VTEM survey has been undertaken in Sri Lanka.
According to the company, Sri Lanka has never been explored using modern exploration techniques.
Bora Bora expects to commence the airborne program in two weeks. The company said it will keep the market updated on the progress of the VTEM survey.