Mar 17, Colombo: MRL Corporation, an Australian mining company exploring graphite in Sri Lanka has found unprocessed, remnant graphite stockpiles that are measuring greater than 85% total graphitic carbon (TCG) at its Sri Lankan graphite projects.
In a stock market disclosure the Company said results received via XRF and ICP have been consistent under both methods and show the unprocessed remnant low grade samples contained around 85%, which was matched when tested for Loss on Ignition.
The initial results are significant and confirm the high quality of MRL's Sri Lankan graphite, the Company said.
The Company said work is continuing at the Pandeniya Priority 1 area with the rehabilitation of the first adit now nearly completed.
Importation of electromagnetic testing equipment is being finalized, and work should start in the next 10 days; results of this work will provide information for the best drill hole locations.
MRL Corporation Ltd (MRL) has negotiated an agreement to acquire the shares of a company that holds licenses to exercise the exclusive right to explore and mine for Graphite within 6,300 hectares of land located in several provinces of Sri Lanka.
MRL has established “first mover” status in southern Sri Lanka, with four highly prospective lump/vein graphite development projects.
Current programs are focused along 650 meters of historic mine workings on the Pandeniya to Wallagala strike-line within the Warakapola Project.
Lump or Vein graphite is considered to be one of the rarest, commercially valuable, and highest quality types of natural graphite.
Sri Lanka is known as the only major producer of crystalline vein Graphite (or lump Graphite) - the highest quality of naturally occurring material in the world. The purity level of vein Graphite produced in Sri Lanka is in excess of 90% carbon.