World News: 14:30 GMT Friday 7th December 2018. [Ceylon Graphite Corp. via Globe Newswire via SPi World News]
VANCOUVER, B.C., Dec. 07, 2018 (GLOBE NEWSWIRE) -- . (“Ceylon Graphite”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) today announced the discovery of three new, natural crystalline graphite veins over 15 cms in width between 68.93 meters and 69.53 meters downhole at its H1 site in the Hakbewa area in Sri Lanka. These veins were discovered in the normal course of drilling at the H1 site and samples from the discovery have been sent to the Sri Lanka Government’s Geological Survey and Mines Bureau’s laboratory for testing.
Coordinates of the drill location are E-130222, N-216410. The drilling azimuth is N30E and the dip is 55 degrees. This site is under the exploration license EL 222/R/2 .
The Company also announced that the length of its surface vein(seen below) at its P1 site is over 20 ft before it goes underground. Ceylon Graphite will continue trenching around the vein for another 10 to 20 ft to get a better perspective of the direction. The Company anticipates that there are additional similar sized or larger veins at lower depths and is planning to actively pursue its aggressive exploration and production plans for the P1 site.
A photo accompanying this announcement is available at
“We are delighted at another discovery, this is outstanding. We now have identifiable graphite at all four sites we are developing.” said Bharat Parashar, Chief Executive Officer. “This discovery coupled with the veins we discovered earlier in the year at the K1 and M1 sites clearly demonstrates that Ceylon Graphite has a large resource base. Our graphite veins are impressive by any standard. We continue to focus on our plan to start commercial production imminently and continue with a robust exploration program on our other grids. This is a great year end present.”
Ceylon Graphite Corp, is a public company listed on the TSX Venture Exchange (CYL:TSX-V), that is in the business of exploration 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 120km². These exploration grids (each one square kilometer in area) cover areas of historic graphite production from the early twentieth century and represent a majority of the known graphite occurrences in Sri Lanka. Graphite mined in Sri Lanka is known to be some of the purest in the world, and currently accounts for less than 1% of the world graphite production.
Further information regarding the Company is available at
Bharat Parashar, Chairman and & Chief Executive OfficerChairman & Chief Executive OfficerCorporate Communications(202) 352-6022
Globe Newswire: 14:30 GMT Friday 7th December 2018
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