Maputo, Mozambique — 17 April 2013 – Australian mining company Syrah Resources is due from the beginning of next month to re-launch test drilling for graphite and vanadium at its project in Balama, in Mozambique’s Cabo Delgado province.
Macauhub News Agency quotes the company as saying in a statement issued here that the new tests are eagerly awaited, as at the end of 2012 the company found high quality graphite deposits in large quantities.
According to Syrah Resources, the graphite reserves at Balama are expected to exceed the world reserves of 77Mt announced by the United States Geological Service.
The company plans to drill 17 test holes to a depth of 2,040m in the western area of Balama, which is expected to add further tonnage to inferred reserves of 564Mt.
The Balama concession, which covers an area of 106sq km, also contains vanadium deposits, in an area some 265km west of the provincial capital, Pemba.
Syrah Resources, which is headquartered in Melbourne, is seeking partners interested in exploring and possibly developing the Balama graphite reserves.
Source: Macauhub News Agency. For more information, click here.