Third zone added at Springdale

COMET Resources’ shares surged by 10% in morning trade, on the news that its Springdale project in Western Australia is host to a new high-grade graphite discovery.

Third zone added at Springdale Third zone added at Springdale Third zone added at Springdale Third zone added at Springdale Third zone added at Springdale

While drilling in ongoing, the company said testing of an interpreted fold closure had added a third highly prospective graphite target zone at Springdale.

The company collected 220sq.km of aeromagnetic data last September, and concluded that 26km of stratigraphy is prospective for graphite mineralisation, of which less than a fifth has been tested, with the Western Zone and Eastern Zone discoveries made since 2016.

Almost 100 RC holes were drilled between December and February for a total of 5320m to prove up the Northern Zone. 

It had been flagged as a high priority structural target with the potential for thicker and higher grade graphite horizons.

Results, including 9m at 5.9% total graphitic carbon) from 3m and 20m at 19.3% TGC from 30m, have helped confi...