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Comet Resources Ltd.

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Summary

Project:

Springdale

Deposit:Springdale
Location:Australia
Commodities:Graphite
Date:9/15/2017
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:15-9-2017: Comet Resources Ltd. announces an Exploration/Drilling Update report for its Springdale deposit at the Springdale project. Drilling results incl. 20.2m @ 7.13% TGC from 40.65m. Comet Resources Limited (ASX: CRL)(Comet) conducted a diamond drill
Resources:x
CP/QP:[Overall Report]: A. Cooper (Internal)
ABSTRACT:Comet Resources Limited (ASX: CRL)(Comet) conducted a diamond drilling program at the Springdale Graphite Project Western Australia in the September quarter 2017. The program consisted of 13 HQ diamond drill holes for 690.1 metres (collar coordinates provided in Appendices, plans and cross sections provided in Figures 3 to 11). Prior to the recently executed diamond drilling program, interpretation of existing drilling completed by Comet had delineated a main graphite horizon extending over a 1.8km strike, with several secondary parallel graphite horizons. Several occurrences of graphite mineralisation were recorded one kilometre to the east and 1.5 kilometres south of the main graphite mineralised horizon and indicated potential for defining additional zones over 4 kilometres of strike. The results from the 13 recently drilled diamond drillholes are extremely positive with all holes intersecting graphite horizons. Significant intersections for each hole are provided in Table 1. Holes HD016 and HD017 further tested high grade mineralisation identified in aircore hole H0065. Core recovery was poor in part, but the grade tenor and thickness of graphite intersected indicate a prospective graphite zone that remained untested. Exfoliation of some core has already been completed. The exfoliation process utilised Springdale graphitic rock as it was extracted from the ground (in this case diamond core). The exfoliation method is used to peel graphene flakes from the graphite in the core. Graphene identification will be conducted when more graphite has been exfoliated.

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