Castle Managing Director,
Better intercepts from this latest batch of results include 55m at 12.6% TGC from 11m incl. 14m at 15.4% TGC from 43m, 18m at 12% TGC from 14m incl. 8.0m at 17.2% TGC from 18m, 34m at 11.1% TGC from 121m incl. 10m at 14.0% TGC from 137m and 27m at 10.7% TGC from 39m incl. 5m at 16.7% TGC from 49m. The project is rapidly emerging as a credible, strategically located and well-timed opportunity to service the forecast surging graphite demand and looming supply deficit driven by the increasing demand for electric vehicles and stationary power storage units. These rely on lithium-ion batteries of which graphite is a key constituent. A very positive indicator for the Project is the multi-billion dollar initiatives of the
This includes quality graphite concentrates and high-value battery anode material to feed a proliferation of battery giga-factories. The majority of these new holes were designed to improve the drill density in areas where mineralisation had only recently been successfully identified using EM geophysics and to enable it to be incorporated into an upcoming Mineral Resource Estimate. So, knowing that EM is a very effective discovery tool we are naturally looking forward to testing the new bank of 13 high-priority EM anomalies that we recently delineated on the broader 149km2 Kambale licence. With the next phase of metallurgical test work nearing completion we will be in a position later this year to commence an evaluation of the technical and commercial merits of producing a fine flake graphite bulk concentrate of commercial specifications and possibly added-value precursor products.'
Better intercepts from this latest batch of results include 55m at 12.6% TGC from 11m incl. 14m at 15.4% TGC from 43m (23CKRC083), 18m at 12% TGC from 14m incl. 8.0m at 17.2% TGC from 18m (23CKRC086), 34m at 11.1% TGC from 121m incl. 10m at 14.0% TGC from 137m (23CKRC092) and 27m at 10.7% TGC from 39m incl. 5m at 16.7% TGC % from 49m (23CKRC100). These intercepts bode very well for the upcoming update to the already robust Kambale MRE of 15.6Mt grading 9.0% TGC containing 1.41Mt of graphite. The majority of these new holes were designed to better define zones of mineralisation whose presence had only recently been successfully confirmed by just one or two prior RC holes drilled to test a series of HLEM geophysical conductor anomalies (ASX release
Cautionary Statement
All of Castle's projects are considered to be of grass roots or of relatively early-stage exploration status. Other than for the
Forward Looking Statement
Statements regarding Castle's plans, forecasts and projections with respect to its mineral properties and programmes are forward-looking statements. There can be no assurance that Castle's plans for development of its mineral properties will proceed. There can be no assurance that Castle will be able to confirm the presence of Mineral Resources or Ore Reserves, that any mineralisation will prove to be economic or that a mine will be successfully developed on any of Castle's mineral properties. The
Competent Persons Statements
The scientific and technical information in this Report that relates to the geology of the deposits and exploration results is based on information compiled by Mr
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